About Filecoin (FIL)

The name "Filecoin"" itself articulates the objective of this protocol. "File"" is what we use to store important information in our everyday life. Similarly, Filecoin is an open-source cloud storage protocol where data exchange and preservation can be done. It is an incentive layer of the Interplanetary File system (IPFS) and a peer-to-peer network for storing and sharing data.

FIL is the native currency of the Filecoin protocol and can be used for exchanging goods and services. Filecoin's blockchain is the smarter way to increase the durability and uniqueness of the information. NFT marketplaces majorly use the Filecoin protocol.

How does Filecoin (FIL) work?

Filecoin works on proof-of-spacetime and proof-of-replication consensus. The proof-of-spacetime ensures the consistency and durability of data, and the proof-of-replication prevents the cloning of data.

The Filecoin blockchain verifies the proofs and takes the necessary action whenever required, and the Filecoin tokens facilitate the payment between the network users.

How to Buy Filecoin in India?

There are many platforms where you can invest and trade FIL in India. One such platform is Flitpay. To buy FIL in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Through the linked bank account, deposit the amount of which you want to buy FIL and execute the FIL purchase.

You can instantly convert your INR to FIL and FIL to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

How do I convert FIL (Filecoin) to INR on Flitpay?

Buying and converting FIL directly on Flitpay is a task of a few clicks using the Flitpay OTC platform. If you have already made a FIL purchase on Flitpay and want it to convert into INR, all you need to do is; sell it on Flitpay, and you will receive the INR in return. If you have your FIL holding in another exchange, you will have to deposit your crypto on Flitpay and then execute the selling process to convert FIL into INR.

To learn; how to deposit FIL or any other crypto from another platform, refer to the link.

You can easily withdraw your converted INR through the instant bank withdrawal service provided by Flitpay in a breeze.

FAQ

What is Filecoin (FIL)?
Filecoin is the native currency of a blockchain-based cloud storage protocol advancing how data is stored. It claims to eliminate the drawbacks of traditional data storage devices by providing a solution to data replication and perseverance.

What is the FIL (Filecoin) price in India?
Check out the current INR price of FIL in India on Flitpay.

Which is the best platform to buy Filecoin in India?
The best platform to buy Filecoin (FIL) or your favourite cryptocurrencies is Flitpay. Flitpay supports instant UPI and bank deposits and withdrawals with a minimum deposit and withdrawal limit of INR 100.

Is it safe to invest in Filecoin (FIL) in India?
Yes, investing and trading in Filecoin is Safe in India. Flitpay is one of the trusted platforms to invest in Filecoin in India. It offers the most real-time prices.