Price history
Market cap
0,46 Mrd €
Volume traded (24h)
0,018 Mrd €
Circulating supply
683.222.182 FIL
All-time high (ATH)
196,80 €
Distance from ATH
-99,7%
Market cap rank
#82
What is Filecoin
Filecoin is a decentralised storage network, launched in 2020 after one of the largest fundraising rounds (ICO) in cryptocurrency history, allowing anyone with unused storage space to rent it out on the network in exchange for FIL tokens.
Unlike centralised cloud services offered by major tech providers, Filecoin distributes data across thousands of independent operators worldwide, with a cryptographic proof system that constantly verifies the data is actually being stored as promised.
Frequently asked questions
Is Filecoin regulated in the UK?
As with most cryptocurrencies, Filecoin is not covered by FCA regulation in the same way as regulated investments; the FCA has warned that crypto assets carry a high risk of losing all invested capital.
How does storage work on Filecoin?
Anyone with unused storage space makes it available to the network and receives FIL tokens in exchange; a cryptographic proof system periodically verifies the data is actually being stored.
How is Filecoin taxed in the UK?
Cryptoasset gains are generally subject to Capital Gains Tax in the UK, with an annual tax-free allowance. Always check current HMRC guidance.