How To Buy Filecoin In India? [Step Guide]

The Crypto industry has led the entire globe by storm. Despite a massive financial risk, thousands of people have chosen the crypto world as they find it the best option to invest their money into because it also gives high returns to the investors. The prices of cryptocurrencies keep fluctuating every minute. As per the experts’ advice, the millions of aspirants wishing to invest in it, but the lack of knowledge do not let them go ahead. There are numerous cryptocurrencies available in the market, including Bitcoin, Ethereum, Filecoin, ThetaCoin, Dogecoin, etc., offering their users to trade. Filecoin, also called FIL Token, is a cryptocurrency, which recently gained popularity and cemented its place in the top 10 cryptocurrencies in India, ahead of Litecoin at 10th place. In this article, I shall describe the Filecoin or FIL Token to help you know how to buy Filcoin in India.

 

About Filecoin:

Developed by Juan Benet, the CEO of Protocol Labs, Filecoin is a decentralized storage system based on the Blockchain, and FIL Token is its Native Currency. It works similar to other file-sharing platforms and networks like Google. Filecoin promotes data storing. Filecoin lets its customers bid on the disk space storage its miners offer, using its peer-to-peer protocol.

 

How Can You Purchase FIL Token in India?

Purchasing the FIL Token is not a difficult task now in India. You can buy, sell, or trade any cryptocurrencies using INR through various crypto exchange platforms available in the crypto market. There are also a number of exchange wallets, such as Hot Wallets (Connected to the Internet) and Cold Wallets (Not Connected to the Internet). But people try to find the most reliable and suitable platform that charges a low trading fee and makes sure that they have purchased the crypto legally. Do not worry, as the exchange platforms like Binance, WazirX, CoinDCX, etc., are the most trustworthy that you can bank on. Binance is the first choice of investors and traders in India. So, I am sharing the steps to assist you with trading into cryptocurrencies using Indian Currency. Let’s start:

 

Step 1: Open the Binance website or mobile app to complete your registration. You need to provide your details, such as email id or mobile number, and set a password to buy Filecoin or FIL Token or any other currencies to start.

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Buy FIL on Binance

Step 2: Before trading into the FIL Token or any other crypto with Indian Rupees, you must verify your email address.

 

Step 3: In Binance, first of all, you must buy the USDT. For this, go to the Buy Cryptocurrency and click on the P2P Trading option given on the page. Select the cryptocurrency as the USDT, and a list of the sellers selling the USDT will open.

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Buy FIL on Binance

Step 4: Now, hit a click on the seller’s name according to your preferences. Get the details of the bank account where you will send the money exchanging for the USDT bought. You can prefer paying with Indian Rupees through multiple modes of payment that include RTGS, Directly Bank Transfers, NEFT, UPI, IMPS, Net Banking, and more.

 

Step 5: Once the payment is complete, the seller will instantly transfer the USDT into your Binance Wallet. You can check your P2P Wallet by signing in again to your Binance Account. Now, transfer the purchased USDT into your Spot Wallet to trade into the FIL Token.

 

Step 6: Go to the Search bar option and write FIL in order to search the Filecoin and click it to choose the crypto given below the Markets option.

 

Step 7: Now check the FIL Token’s price by turning it over to the next page. Enter the FIL Token’s quantity and confirm the order by clicking on the Buy FIL button. The users can also see all the transactions made in the order history.

Filecoin

Buy FIL on Binance

 

Other Cryptocurrency Exchange Platforms:

As I have already mentioned, many of the exchanges in India offer trading into the FIL Token. Below are two more crypto exchanges, which help you trade in any cryptocurrencies in India with INR. Using these platforms, the traders can directly buy the FIL Token as there is no need to purchase USDT before trading. Let’s have a look:

 

  • CoinDCX:

CoinDCX is also one of the best choices of crypto traders in India. CoinDCX offers their Indian users to directly trade into the FIL Token and hundreds of other cryptocurrencies. It made trading in the crypto industry so easy and safe. Like other exchanges, you also need to open an account on CoinDCX and get done with the KYC process in which you need to enter your email address and verify it. Once completed this process, you can deposit the amount to the CoinDCX Wallet through NEFT, IMPS, UPI, etc., using Indian Currency. Now write FIL in the Search Bar given under the Market option. Enter the number of the FIL Tokens you want to purchase and click on the BUY option to complete your order. That is how you can buy the FIL Token using Indian Currency through CoinDCX.

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Buy FIL on CoinDCX

  • WazirX:

WazirX is another best choice to deal with cryptocurrencies with Indian Currency. Launched in 2018, it has experienced high growth in the transaction activities and user base, and it now became the most reliable and trusted brand. You need to create an account on WazirX as you do in other crypto exchanges for trading into the FIL Token or any other cryptocurrencies. Complete some formalities for the KYC. Once done with the KYC, you can add money into the WazirX Wallet through multiple options like UPI, Bank Transfers, NEFT, etc., for buying, selling, or trading FIL Tokens. Select the FIL Token given below the Market option and click on it to buy. Enter the amount as much as you want and verify your order. You can also check the transactions in the History given below the MY Orders option.

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Buy FIL on WazirX

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Conclusion:

I have tried to provide each detail that I feel essential for you to start trading the FIL Token or any other cryptocurrencies through the most trusted and secure crypto exchange platforms in India using INR. If you find this article interesting and want to invest your money into the FIL Tokens or any other cryptos, then create an account on any platforms given above. These are the safest options for Indian users to start trading. These exchanges also support numerous options for making payments, such as Bhim, Mobikwik, UPI, Bank Transfers, IMPS, RTGS, and many more.

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