Store the Future: Filecoin (FIL) Now Available on Ndax!

Filecoin (FIL) is a revolutionary decentralized storage network that transforms how the world stores and retrieves data. Designed to create a more open, efficient, and secure internet, Filecoin allows users to rent out or purchase storage space in a decentralized marketplace—eliminating the need for traditional, centralized cloud providers.

Now available for trading on Ndax, FIL offers Canadian users direct access to a project that’s redefining digital infrastructure. Whether you’re a developer, data enthusiast, or long-term crypto investor, Filecoin gives you the tools to participate in a global network of decentralized storage. 

Filecoin is an open-source, blockchain-based storage protocol built on top of IPFS (InterPlanetary File System). It allows anyone to offer unused hard drive space in exchange for FIL tokens, making storage cheaper, faster, and censorship-resistant.

Unlike conventional cloud storage providers, Filecoin operates on a decentralized network, ensuring that data is redundantly stored, independently verified, and not vulnerable to a single point of failure. 

• Decentralized Storage Marketplace: Filecoin allows users to buy and sell unused data storage space. This creates a highly competitive, transparent market where pricing and reliability are determined by supply and demand rather than corporate providers.
• Built on IPFS: By integrating with IPFS, Filecoin ensures that stored data is content-addressable, meaning it’s identified by what it is rather than where it is. This enhances data permanence and retrieval efficiency.
• Verifiable Storage Proofs: Using Proof of Replication (PoRep) and Proof of Spacetime (PoSt), Filecoin ensures that storage providers are continuously proving they’re storing data correctly—creating trustless, automated accountability.
• Scalable & Secure Infrastructure: Filecoin is built to scale globally. Whether storing a few files or entire databases, its infrastructure is designed to support enterprise-level data needs while preserving decentralization and security. 

FIL is the native utility token of the Filecoin network. It plays a central role in transactions, incentives, and governance.

Utility of FIL:

• Transaction Fees: Used to pay for data storage and retrieval services.
• Collateral: Storage providers must stake FIL to ensure good behavior and network integrity.
• Incentives: Providers earn FIL for successfully storing data over time.
• Governance: FIL holders can participate in community-led proposals and network upgrades.

Supply Info (as of May 2025):

• Circulating Supply: ~550M FIL
• Max Supply: ~2 Billion FIL
• Emission: FIL follows a long-term issuance curve designed to support sustainable network growth and storage incentives.

Filecoin was launched by Protocol Labs, a research and development company also behind IPFS. The project raised over $200 million in its 2017 ICO, making it one of the largest token sales at the time.

After years of development and testing, the Filecoin mainnet launched in October 2020. Since then, it has become a core infrastructure layer for Web3 projects, powering decentralized apps, NFT storage, scientific data repositories, and much more.

With backing from major investors and partners, Filecoin has established itself as a pillar of the decentralized internet. 

• Trusted Canadian Platform: Ndax offers a regulated, user-friendly environment where Canadians can buy, sell, and hold FIL with peace of mind.
• Top-Tier Security: Your FIL is protected with multi-signature cold storage and MPC-secured hot wallets, offering institutional-grade protection.
• Recurring Buy Options: Set up automatic daily, weekly, or monthly FIL purchases starting at just $10 CAD to build your position over time using dollar-cost averaging.
• Advanced Trading Tools: Take advantage of Ndax’s full suite of trading options, including Limit Orders, Stop Orders, Trailing Stops, Fill or Kill, and Iceberg Orders—designed for both casual investors and professional traders.
• Trade Anywhere, Anytime: Use the Ndax mobile app for iOS and Android to manage your FIL portfolio on the go. 

With Filecoin (FIL) now available on Ndax, Canadians have direct access to one of the most innovative and essential projects in the Web3 space. From decentralized file storage to NFT hosting and beyond, Filecoin enables a more secure, accessible, and open internet for everyone.

Whether you're a developer exploring new data infrastructure or an investor looking to support the foundation of Web3, Filecoin offers real-world utility and long-term vision.

Start trading FIL on Ndax today and join the movement to decentralize the world’s data. Stay tuned on our social channels and join the Ndax community to learn more about how Filecoin is reshaping the internet, one byte at a time.

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.