Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Filecoin. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Filecoin

Australia has a good amount of popular and regulated crypto exchanges, so it’s quite easy finding an exchange that has Filecoin. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.

Let’s get into it!

How to Buy Filecoin in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Filecoin

1. Choose a crypto exchange

As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Filecoin in its list of cryptocurrencies.

Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.

And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.

So for this guide on buying Filecoin, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Filecoin.

You can also check out our comparison of the cryptocurrency trading platforms for those interested in learning more about the exchanges we would recommend.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.

Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.

Once done, it’s time for the next step.

3. Funding your account with AUD

To buy Filecoin, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.

Swyftx Deposit Methods

4. Buy Filecoin

The final step is to go to their asset list, find Filecoin, navigate to the buy section, and then trade your AUD for some FIL. Once you’ve bought Filecoin, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.

Where to Buy Filecoin (FIL)

ExchangeRatingCryptocurrenciesSite
Swyftx logo5/5300+ cryptocurrenciesVisit Swyftx
CoinSpot logo4/5200+ cryptocurrenciesVisit Coinspot
binance logo3/5400+ cryptocurrenciesVisit Binance

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

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How to Sell Filecoin

If you’re thinking about selling Filecoin, just follow the steps below.

  1. Sign in to the crypto exchange (like Swyftx).
  2. Click on Filecoin in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Filecoin for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Filecoin in Australia legal?

Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.

How to buy Filecoin with PayPal?

Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Filecoin. Have a look on their site first, you might be lucky.

How to buy Filecoin with a credit card or debit card?

Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Filecoin with your credit/debit card.

About Filecoin

Filecoin, a blockchain-based storage platform that aims to "store humanity's most precious information," raised $205 Million in an initial coin offering (ICO) in 2017. Mid-2019 was the initial launch date. Block 148,888 was moved to the Filecoin mainnet launch date. This will be in the middle of October 2020. Filecoin is an open protocol. The network is supported by a Blockchain which records the participants' commitments. Transactions are done using FIL (the native currency of the blockchain). The blockchain relies on proof-ofaEUR"replication as well as proof-ofaEUR"spacetime.

Filecoin, a blockchain-based storage system that stores data in a distributed fashion, is called Filecoin. Filecoin, a cloud storage company with decentralization, is not subject to the same issues as Cloudflare and Amazon Web Services. Filecoin's decentralized nature protects data integrity and allows for easy retrieval. It is easy to retrieve and hard to censor.

Filecoin is a distributed storage system that makes it easier for people to manage their data. It also makes the internet more accessible. Block rewards are directly linked to Filecoin's network via mining and storage. Filecoin encourages its participants to be truthful and to keep as much data as possible.

Filecoin is secured using proof-of-replication. Filecoin's nodes are called retrieval miners. They compete to offer data services to clients as quickly as possible. They are charged FIL fees, which encourages them to create a network that preserves and replicates files.

Storage miner nodes compete to secure contracts to store client data for a specific period. The storage miner is responsible to store the client's data within a specific sector. To create a copy, the storage miner "seals" the sector. Clients pay storage miners FIL as deal fees. They also have the opportunity to mine blocks and receive a block reward.

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