Should you invest in Filecoin (FIL) at the current price?

Course of filecoin (THREAD): what is the current price?

Here is the live price of Filecoin.

Filecoin news as of 05/05/2022

Filecoin Foundation for the Decentralized Web continues to grow. She announced this week a partnership with MuckRock to “Bridging the gap between newsrooms and people interested in public records.” The partnership will integrate decentralized storage technology with DocumentCloud, a MuckRock platform that hosts over 8 million verified documents.

#CRYPTONEWS The filecoin foundation is teaming up with non profit news platform MuckRock to integrate decentralized document storage.

This development comes as cryptocurrency filecoin tries to find a new breath after having chained several bad performances. It lost 28% of its value for the month of April alone and has been on a downward trend since the start of the year. Rising on Wednesday following the announcement of the partnership with MuckRock, the price of the native cryptocurrency FIL can test the 18 dollars in the short term.

The essentials to know about filecoin

Creation of crypto THREAD

Protocol Labs, the company behind IPFS (InterPlanetary File System), libp2p, IPLD, Multiformats, and Testground protocols, launched Filecoin in 2017 after an ICO that raised $257 million, including $186 million in the first hour.

The FIL token was issued at a price of $1.30.

How it works filecoin ?

The heart of the network is made up of storage miners. They earn Filecoins by storing data for customers and ensure that data is stored securely and permanently. The storage capacity a miner provides to the Filecoin network, not the processing power, determines the amount of their reward.

You may think it’s unwise to back up your data on strangers’ computers. But Filecoin partitions the data in such a way that no one can reconstruct it. Only protocol can return them to their owners.

Crypto FIL: our opinion and prediction for 2022

  • Filecoin Global Mirror Mag Rating: 9/10

Opinion on the project filecoin

Filecoin presents a storage method that is more decentralized than already existing cloud services and more secure than protocols like BitTorrent.

Price Volatility Notice

The Fil crypto has become particularly stable since December 2021. The price range has decreased significantly.

Prediction of the price of filecoin medium term

Despite being a utility crypto, WIRE has fallen back to its early 2021 prices. But the relatively low price of this cryptocurrency leaves room for growth. The price can easily break above the $50 mark in 2022.

Prediction of the price of filecoin long-term

Many analysts are expecting a price of over $100 for 2023. However, the rise will not come with the same momentum that the cryptocurrency had in 2021.

Conclusion – Should you invest in Filecoin crypto? Where and how to buy it?

Conclusion of our review filecoin

With the development of the cloud industry, investors can take advantage of it by buying cryptocurrencies like Filecoin.

To buy filecoin (THREAD) to trade

To trade this cryptocurrency, the eToro broker is the most suitable. In addition to buying the tokens, this platform allows you to trade short-term crypto CFDs without having to hold the tokens.

  • Step 1 : use the search bar of the eToro platform to find the cryptocurrency.
  • 2nd step : then click on “Invest” to give the amount of cryptocurrency to buy and validate the transaction.

Read This article to find out how to buy cryptocurrency on eToro.

To buy Filecoin (FIL) to invest

To invest in this cryptocurrency by holding them in a wallet, go to the Binance platform.

  • Step 1 : go to the “Buy cryptos” tab then choose the payment method of your choice.
  • 2nd step : select the crypto to buy and proceed to secure payment. Then, the cryptocurrencies will be credited to the dedicated wallet.

Read This article to find out how to buy cryptocurrency on Binance.

Useful resources for investing in filecoin (THREAD)

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