Filecoin is used as a decentralized peer-to-peer storage network that makes it secure and more efficient to store, access, and transfer data.
Users of Filecoin pay to store their files on the platform in the same manner as any other cloud storage provider, but in addition to storing users’ files, the platform allows users to store other data for a fee.
Filecoin enables users to have stateful programs that work with market operations, proof verification, and more. These perform user-defined operations where certain conditions must be met associated with market operations, proof verification, and spending tokens.
FileCoin price chart (FIL / GHS)
Step 1: Register with a cryptocurrency exchange
To participate in the world of crypto-trading, you first need to sign up with a cryptocurrency exchange. These platforms are where you can buy, sell, and hold cryptocurrency.
There are plenty of cryptocurrency scams out there, so be sure to buy and sell on a reputable exchange.
Binance is one of the best places to buy FileCoin, especially if you live in the Ghana. Registration is quick and simple, and the FIL is very easy to buy with GHS.
Why is Binance the best?
Low transactions fees of 0.1% and below
25% on trading fees paid with the BNB token
Binance is available all over the world
Supports a wide selection of over 500+ crypto assets
Over 50+ fiat currencies supported
Binance staking allows users to earn rewards on their crypto holdings
More trading options, including spot trading, margin trading, P2P, and futures trading
NFT marketplace to buy and sell NFTs
Different trading interfaces to accommodate every users’ trading experience
The Binance mobile app enables users to access their accounts and trade on the go
Binance Visa Card to spend your crypto hassle-free
The Binance Trust Wallet supports 53 blockchains and 1M+ assets.
Unfortunately, Binance is not available in the United States, and Americans can only trade on Binance.US, a Binance version that’s compatible with U.S. regulation.
How to Register on Binance
Firstly, click on the button below to register with Binance, it’s free and easy
Important: Use our unique link and get 15% off commissions on Binance.
To get started, just enter your email address, create a password for your account and click [Create Account].
Your password should be a combination of numbers and letters. It should contain at least 8 characters, 1 upper case letter and 1 number for security.
For security verification, drag the puzzle piece to the right until it fits into its slot.
A 6-digit code will be sent to you via email. Enter it in the next screen.
Finally, you will reach the Welcome to Binance screen. This screen will outline some of the core features.
Step 2: Verify Your Account
Verification is a process used by exchanges to establish the identity of customers. It is necessary for any kind of financial transaction, especially those with higher levels of security or legitimacy. Any user who wants to trade crypto on exchanges must go through verification.
For new users, you may click [Get verified] on the homepage directly.
Click [Start Now] to verify your account.
Select your country (In your case Ghana) of residence. You will then see the list of verification requirements for your country. Click [Continue].
Enter your personal information and click [Continue].
Next, you will need to upload pictures of your ID documents. Most users can choose to verify with a passport, ID card, or driver’s license.
After uploading the document photos, the system will ask for a selfie. Click [Upload File] to upload an existing photo from your computer.
After that, the system will ask you to complete face verification. Click [Continue] to finish face verification on your computer.
After you complete the process, please wait for Binance to review your data promptly. Once your application has been verified, Binance will send you an email notification.
Cryptocurrencies and blockchain continue to be favored targets for criminal activity. The ability to make anonymous transactions can allow criminals to engage in financial transactions with more impunity. KYC protocols and identity verification is an essential element for policing the market and protecting crypto investors from theft.
Step 3: Fund Your Account and buy FileCoin
To invest in FileCoin, you’ll need to deposit some money into your account.
Log in to your account, head over to the “Buy Crypto” section on the Binance toolbar, and choose the “Credit/Debit Card” option.
Select FileCoin and enter your order amount. The total price with fees will be calculated in the second bar.
After that, you will be prompted to enter your card details and after confirmation, you will finally buy your first FileCoin. Usually, it will take between 10 and 30 minutes for the crypto to appear in your Binance account.
How to Save 40% on Fees When Buying FileCoin
One way you can lower your trading fee is by keeping some Binance Coin in your account at all times so your fees can be taken from that. Doing this gets you 25% off all trading fees.
In total, you get a 40% discount on all transaction fees!
Alternative ways to buy FileCoin
If you were unable to buy FileCoin on the exchange using GHS, you can buy it using another cryptocurrency, such as Bitcoin. You can always buy BTC for the first time using platforms such as LocalBitcoins, then transfer your BTC to a Binance to buy FileCoin. In this case, you can further reduce costs.
Below are a few of the sellers in the Ghana who sell bitcoins with GHS.