How to Buy Filecoin (FIL)

Filecoin (FIL) is a decentralized storage network that allows users to rent out spare storage space or purchase storage from others in the network. Built on top of the InterPlanetary File System (IPFS), Filecoin is revolutionizing the way we store and retrieve data, offering a censorship-resistant, efficient, and cost-effective alternative to traditional cloud providers.

The native token, FIL, powers the ecosystem by incentivizing Storage Providers to offer data storage services and Retrieval Providers to deliver data retrieval services. Filecoin’s unique blockchain design helps ensure that storage providers are held accountable for data integrity, making it a robust solution for decentralized file hosting.

Whether you're storing personal files or building decentralized applications, Filecoin offers a secure infrastructure that puts control back in the hands of users. 

1. Sign In or Create an Account 
   Start by creating your Ndax account. The sign-up process is simple and quick, with an efficient identity verification system that gets you trading in no time.
2. Fund Your Account with Canadian Dollars
   You can fund your account securely using Canadian dollars through methods like Interac e-Transfer or Wire Transfer. Funding is fast, convenient, and fully compliant with Canadian regulations.
3. Purchase FIL
   With as little as $10 CAD, you can begin your Filecoin journey. On Ndax, you can trade CAD for FIL instantly, with a competitive flat trading fee of just 0.2%. 

Once you’ve purchased Filecoin (FIL), the next step is to store your tokens securely. You can choose to keep your FIL on the Ndax platform, which uses industry-leading security measures. These include cold storage and hot wallets protected with Multi-Party Computation (MPC), ensuring your assets are secured while remaining accessible.

Alternatively, if you prefer to manage your own storage, you can transfer your FIL to a compatible hardware or software wallet. This option gives you full control over your private keys and allows for greater independence in handling your cryptocurrency holdings. 

• Hold and/or Trade: You can hold your FIL as a long-term investment or actively trade it on the Ndax platform. Monitor your portfolio, execute trades, and manage your positions seamlessly on web or mobile.
• Earn by Providing Storage: Filecoin enables users to participate in the network by offering storage space in exchange for FIL rewards. If you have extra disk space and the technical know-how, you can become a storage provider.
• Power Decentralized Applications: FIL plays a critical role in enabling developers to build dApps that rely on decentralized storage, from media delivery to blockchain archives. 

• Safety-First Approach for Peace of Mind Trading: Ndax prioritizes your safety. The majority of digital assets are held offline in cold storage, secured with multi-signature wallets and MPC protocols. Your assets are protected against both external threats and internal risks.
• Grow Your FIL Holdings Automatically: Set up recurring purchases of Filecoin to grow your holdings over time. Choose daily, weekly, or monthly intervals starting from just $10 CAD, and let dollar-cost averaging work in your favor.
• Trade On the Go: The Ndax mobile app gives you the power to trade, monitor your balance, and fund your account from anywhere—available for both iOS and Android. 

The cryptocurrency market is volatile. Avoid missing out on trades by using Ndax’s unique trading options:  

• Limit Order: A buy or sell order that is executed at a specific price or better.  
• Stop Order: An order to Market buy or sell once a cryptocurrency reaches a designated price point.
• Trailing Stop Market Order: An order set at a specified dollar amount away from the last price, bid, or ask of a cryptocurrency.  
• Trailing Stop Limit Order: A limit buy or sell order that is triggered when a cryptocurrency reaches a user-defined trailing amount.  
• Fill or Kill (FOK) Order: A trade that must execute immediately and in full at a certain price; if it can’t be fully filled right away, the entire order is canceled.  
• Immediate or Cancel (IOC) Order: A trade that executes immediately, canceling any unfilled portions of the order.  
• Reserve Order (Iceberg Order): A large trade broken down into multiple limit orders, with some portions visible and others concealed.

Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for informational purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise. Ndax is a member of the Canadian Investor Protection Fund (CIPF). Please refer to the CIPF for coverage qualification criteria.