How to Buy FileStar (STAR) in 2022: A Simple Guide

FileStar (STAR)In this guide you’ll get information about where to buy FileStar, if you are planning to buy STAR token – You’re in the right place!

FileStar is built based on Filecoin, yet with some significant improvement. Filecoin is indeed a great innovation, but its design is not perfect and this can hinder its growth. It should be acknowledged that the distribution and release plan of the Filecoin token (FIL) is relatively unfriendly to most miners in a way they should face some thresholds to participate in Filecoin mining. To make it worse, there is relatively limited availability of data stored in the Filecoin network.

For the reasons above, FileStar creates a better incentive layer for storage network distribution. Improvements are made including the use of new hash functions and removal of initial pledge collateral. As a result, the threshold for mining can be lowered collectively. In addition, FileStar also add other technological innovations such as Recursive ZK-SNARK to solve on-chain message traffic with much-improved mining efficiency and scalability.

FileStar (STAR) Features

  • Reasonable Incentive Mechanism. FileStar applies a reasonable incentive system for its storage distribution. Gradually, it will provide incentive at a more refined granular level while enabling an optimized usage of storage, computation, and bandwidth resources.
  • Lower Requirement. More miners can participate in the network because there are not many requirements to fulfill. For example, pledge collateral is not required. In addition, there is also no SHA256 algorithm. As a result, miners do not need to depend on AMD processor exclusively.
  • High Data Availability. Both hot data and warm data are stored by FileStar, and any users can access those stored data quickly.
  • High-efficiency Mining Software. Some significant improvements are made to the existing Filecoin mining software. Therefore, the mining software can work more efficiently.
  • Higher Scalability. FileStar introduces recursive storage proof and modifies the WindowPoST’s spot check logic to improve the network’s scalability and the on-chain processing capability.
  • Decentralized Governance. The network adopts community governance where all miners, developers, as well as other users in the community have the right to determine the direction of the network.
  • Reward Mapping. FileStar incentivizes miners based on the rewards mapped for the valid storage on Filecoin.

Where to Buy, Sell and Trade FileStar aka STAR

You can basically use debit card, credit card, or even PayPal to buy the FileStar (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the FileStar as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy  Tether first. After you get the ETH or BTC or USDT, you can convert it to FileStar. 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:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports FileStar currency and exchange your Ethereum / Bitcoin / Tether with the FileStar
  3. Store your FileStar to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)

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.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • 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 FileStar, once you get your Bitcoin or Ethereum or Tether, 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 or USDT 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 or USDT with FileStar:

GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
  • Trading Pairs: 1801+

IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the STAR/BTC or STAR/ETH or STAR/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you STAR/USDTso you need to convert your BTC or ETH to USDT first in order to buy FileStar (STAR)

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 FileStar (STAR) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

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 FileStar (STAR) 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 FileStar. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy FileStar (STAR) 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 FileStar (STAR) with Skrill?

You can’t buy STAR directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to FileStar. You can buy BTC/ETH with skrill by using these exchanges::

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy FileStar (STAR) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair STAR/BTC and begin the transactions.

Can I Buy FileStar (STAR) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support STAR/ETH trading pair.

What Is the Best Payment Method to Buy FileStar (STAR)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the FileStar right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect FileStar (STAR)?

Once you have purchased the FileStar, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell FileStar (STAR)?

Find a crypto exchange which allow pairing STAR with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine FileStar (STAR) 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 FileStar is to buy it from a reliable exchange.

Conclusion

FileStar (STAR) is becoming a cornerstone of the Web 3.0 framework as it attempts to create a network of distributed bandwidth, computing and storage based on IPFS protocol. Different from Filecoin which is storage-centric, File incentivize users to provide measurable bandwidth and verifiable computations as well as distributed storage. With FileStar, supported with the blockchain industry’s collective endeavor and experienced team, the distributed internet will be unfold. It will be a better incentive layer for distributed storage network through the technological innovations.

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