CoinWind Academy Series: 3 Minutes to Know $FIL
In the crypto space, coins or projects are launched to solve an issue or plethora of it. While some at inception are launched to solve issues like payment of bills, others target some more technical aspect of man’s issues in this digital world. As such, the real use case of a project is established which will help in knowing where to use the coin appropriately.
WHAT IS $FIL
FIL is an acronym for FILECOIN which is a decentralized storage and sharing network that is designed to solve the storage issues man encounters in the process of storing data. It is built on blockchain technology. Being a decentralized network, it allows users to earn as miners offer storage to users for data storage. Thus, FIL is the native token of the FILECOIN network as miners and users receive and make payments in FIL.
As its name implies, Filecoin has to do with the filing of storage data being digitized and monetized. Miners who mine the storage are paid in FIL tokens as users bid for the storage. Interestingly, individuals and organizations are allowed as the storage units are bought at a fraction of what centralized agencies sell them.
FILECOIN USAGE AND BENEFIT
* Filecoin being a file sharing and storage platform, seeks to reduce the concerns of users who need space for such. It helps users in terms of the reduced fee, and to also earn in the process as against what the traditional centralized network does.
* Facilitates the payment of good and services by using the FIL tokens
* Allows users to share unused space on their storage, monetize and benefit greatly from it. That way, what could have gone to waste is yielding interest.
* Storing and sharing data would always be an issue like a reoccurring decimal, however, FILECOIN has found a simple way to resolve this by being decentralized and efficient about it.
* The decentralized nature of it means the safety and security of users are guaranteed. It reduces the chance of being exploited and controlled by the government.
WHERE TO BUY $FIL
FIL can be bought from the following exchanges with debit or credit cards. An account will need to be created on any of the exchanges if a potential investor does not have one.
1. Binance exchange: https://www.binance.com/en/trade/FIL_USDT
2. Bitpanda exchange: https://www.bitpanda.com/en/prices/filecoin
3. Kraken exchange: https://www.kraken.com
4. Coinlist: https://coinlist.co/buy/filecoin
$FEI SOCIAL MEDIA LINKS
Twitter: https://mobile.twitter.com/Filecoin
Website: https://filecoin.io
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