How to Buy and Use Filecoin (FIL)
Understanding FIL Wallet Addresses
Like other cryptocurrencies, FIL wallets are defined by unique address strings.
Filecoin wallets have 5 address types: f0, f1, f2, f3, and f410(or 0x).
Why do these different address types exist?
You can recognize the address type from any Filecoin address via what we call the “protocol indicator”. Put simply, the indicator is the first few characters in the address.
Example address: f1s5hbfgxihcbdj5jc35kv2eyoqpqdbahyo67ord
Since this digit immediately following “f” is 1, this is an f1 address type.
How do I use FIL in applications on the FVM?
Step One
1. Buying Filecoin(FIL)
To interact with some DApps on the FVM, you may need to have FIL in a 0x/f410 wallet. To understand what we mean by this address type, please refer to the section above.
While many exchanges support FIL trading, not every exchange has upgraded to support transfers to the 0x/f410 addresses required by some DApps. We expect that over time, most exchanges will support all Filecoin address types. Until then, we recommend you choose an exchange from the list below.
If you currently have FIL in an exchange that does not support transfers to 0x/f410 addresses you may get an error when trying to send your FIL to an 0x/f410 address. You can still use use these steps to move your FIL out of the exchange and into an 0x/f410 wallet.
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.
Step Two
2. Setting up your wallet
Download your 0x/f410 wallet, for example Metamask.
Many wallets natively support Filecoin(FIL), but you will need to follow these instructions to add the Filecoin network to your Metamask wallet and receive FIL deposits.
Please note: the Brave Wallet is embedded within the Brave Browser Application.
More 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].
Step Three
3. Transferring FIL to your wallet
Now that you have purchased FIL and setup your wallet you can initiate a transfer from the exchange to your wallet.
Copy your 0x or f410 wallet address from the wallet created in Step 2.
Transfer your FIL from your exchange to the new wallet address. -- If your exchange is not yet upgraded to allow direct transfers to 0x/f410 addresses the exchange may give an error that says, “This is not a valid Filecoin address.” You can follow these steps to move your FIL from the exchange to your 0x/f410 wallet.
Congratulations!
You now have FIL in a 0x/f410 address and you can freely connect your wallet to interact with DApps on the FVM.
For a start, check out some of the DeFi Staking Applications.
FAQs
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?
How can I expedite my exchange upgrading to support FVM?
I have FIL in an exchange that does not yet support 0x/f410 wallet addresses. What do I do to get my FIL to a f410 wallet?
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.
