In this guide you’ll get information about where to buy Filecash, if you are planning to buy FIC token – You’re in the right place!
Filecash would be the first (pre-fork) project from Filecoin. It is constructed as a (distributed) cloud storage network with the purpose to use idle and inactive storage space. It is done for serving storage market and it is designed for the world-wide scope. Back at the core, Filecash is designed as IPFS’ protocol incentivization layer. The IPFS protocol itself is considered way better than HTTP protocol. So, the network is constructed based on proof of spacetime and also proof of replication. Filecoin might started off at the beginning, but the mechanism was chaotic and messy.
The platform strayed away from the original goals – making many of its members annoyed and conflicted. As a result, the members from Filecoin community worked together with Protocol Labs (the developer) so they could start Filecash. Filecash network has the purpose to reduce the barrier, applied to miners’ participation, as well as other participants within the environment and ecosystem.
Table of Contents
Filecash (FIC) Features
- Compatible with Idle Capacity. The platform wants to boost the platform’s algorithm to make sure that the existing (idle) hard drives would be compatible with the main network within the platform. The platform is about making use of inactive and idle storage systems so those who actually need it can gain access to the unused storage.
- Base algorithm improvement. The platform wants to improve the base AMD-centric algorithm that can support better processor with similar performance and quality. This kind of upgrade will expand the IPFS ecosystem’s potential market widely.
- Regional restrictions removal. The platform focuses on global scope. In the past, the world has been divided to five biggest and most major regions. However, Filecoin thinks of it of being inefficient and unreasonable, so token distributions would be executed in planned economy form among those regions. They remove area restrictions or implement codes for geographic regions detection.
- FIC token. This is the native (utility) token with many functions. It can be used as collateral deposit for FIC mining. It can be lent to miners. It is used as a payment method for users wanting to store data within the network.
Where to Buy, Sell and Trade Filecash aka FIC
You can basically use debit card, credit card, or even PayPal to buy the Filecash (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Filecash as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Filecash. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports Filecash currency and exchange your Ethereum or Bitcoin with the Filecash
- Store your Filecash to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Filecash, once you get your Bitcoin or Ethereum, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with Filecash:
IMPORTANT! Once you are registered to any of the above, find the BTC/FIC or ETH/FIC trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Filecash (FIC) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Filecash (FIC) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Filecash. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Filecash (FIC) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Filecash (FIC) with Skrill?
You can’t buy FIC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Filecash. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Filecash (FIC) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/FIC and begin the transactions.
Can I Buy Filecash (FIC) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/FIC trading pair.
What Is the Best Payment Method to Buy Filecash (FIC)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Filecash right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Filecash (FIC)?
Once you have purchased the Filecash, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Filecash (FIC)?
Find a crypto exchange which allow pairing FIC with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Filecash (FIC) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Filecash is to buy it from a reliable exchange.
Although Filecash may be claimed as a platform and market for data, the basic idea is to make use of unused storage space. With this platform, users can use the inactive space without having to worry about geographic restrictions, area boundaries, and others. Everyone involved in the ecosystem can work together and use their FIC token to unlock the potential. However, they must buy Filecash (FIC) if they want to unlock the access and enjoy all of the benefits.