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How to buy FIL and use FIL;
Filecoin TL;DR
How to buy FIL and use FIL in the Filecoin Virtual Machine
We have compiled a guide on How to Buy FIL, geared towards using FIL in various applications powered by the Filecoin Ethereum Virtual Machine (FEVM) which launched in March 2023.
Let's get started!
Disclaimers: This information is for informational purposes only and is not intended to be investment, financial, legal or other advice. This information is not an endorsement, offer or recommendation to use any particular service or product. Although we try to ensure all information is accurate and up to date, occasionally unintended errors and misprints may occur. Links provided to third-party websites are for informational purposes only, and we are not responsible for the accuracy of content on third-party sites.
1. Understand FIL Wallet Addresses
FIL Addresses
FIL addresses have some unique elements from other blockchains:
Filecoin wallets have 5 address types: f0, f1, f2, f3, and f4. Note: A wallet address is a string of letters and numbers from which cryptocurrencies or NFTs can be sent to and from.
How do I recognize the address type?
You can recognize the address type from any Filecoin address via what we call the “protocol indicator”. Put simply, this is the digit immediately following “f” on the address.
Example address: f1s5hbfgxihcbdj5jc35kv2eyoqpqdbahyo67ord
Since this digit immediately following “f” is 1, this is an f1 address type.
2. Set up your FEVM-compatible Wallet
Wallets
Set up your 0x / f410 wallet FEVM-compatible wallet
Some choices include:
• Metamask - step-by-step instructions
• FoxWallet - step-by-step instructions
• Brave WalletMore wallet choices will be available in the future and we will update this list from time to time. If you are running a Web3 wallet that supports 0x / f410 Filecoin wallet addresses and want to be listed, let us know at [email protected].
3. Buy FIL and transfer to your 0x / f410 wallet
You can purchase FIL on centralized or decentralized exchanges. it’s important to note that not all centralized exchanges that support FIL trading allow transfer to a 0x / f410 wallet at this point.
Centralized Exchanges
0x / f410 addresses launched with the Filecoin Ethereum Virtual Machine on March 14 2023. Since this is a recent upgrade, some exchanges do not yet support this new type of address. We expect that over time, most exchanges will support all Filecoin address types.
The list of exchanges below show which wallet address types each supports:
Disclaimer: Cryptocurrency regulations vary widely by country, and may change over time. Some exchanges may limit their services to certain countries. Before using any exchange, please confirm you satisfy any applicable geographical restrictions and local laws.
More About Exchanges
Any exchange that lists FIL for trading but is not listed above likely does not support 0x / f410 wallet addresses.
What happens if I make a FIL transfer to my 0x / f410 wallet address (e.g. Metamask) FROM an exchange not listed here?
What happens if I make a FIL transfer from my 0x / f410 wallet (e.g. Metamask) TO an exchange not listed here?
What can I do to expedite the process with exchanges?
Decentralized Exchanges (DEXs)
With a DEX, you can trade FIL peer-to-peer.
Use Your FIL
Now that you hold some FIL in your 0x / f410 wallet, you are ready to check out some dApps.
For starters, you can lease your FIL to storage providers using these DeFi Protocols
