We are pleased to announce that Filecoin (FIL) will be listed on Kraken starting October 15.
This will be a “mainnet listing,” meaning that trading will begin as soon as possible after the Filecoin mainnet goes live and transfers are enabled on the network.
Mainnet listings may be extremely volatile, which can present a great opportunity for experienced traders and investors. However, more novice traders are advised to exercise extra caution.
What is Filecoin (FIL)?
The Filecoin project aims to provide a decentralized file sharing and storage service. While not the only project with this goal, Filecoin may be the most widely anticipated, having one of the industry’s largest funding rounds ($257 million in 2017).
The team behind the project claims that with sufficiently large adoption, it could become the fastest and least expensive option to store data online. Further, being decentralized, it will be highly resistant to censorship.
The Filecoin network is maintained by miners who provide the required computational power and storage space. Miners are compensated through the fees paid by Filecoin users for storage and retrieval of data.
Project website: https://filecoin.io/
What time will funding and trading start?
- Deposit addresses: Clients will be able to generate FIL deposit addresses starting at approximately 13:30 UTC on October 15, but deposits will not be possible until funding is enabled.
- Funding: Funding will be enabled shortly after the Filecoin mainnet goes live. The Filecoin mainnet is set to start at block 148,888 which is expected at approximately 14:45 UTC on October 15.
- Trading: Since sell orders cannot be placed until deposits credit, trading will begin after the first FIL deposits credit. 300 confirmations are required for deposits to credit, meaning that trading will start approximately 2.5 hours after funding is enabled. The initial trading minimum is 0.125 FIL.
- Updates will be posted on our status page near launch time.
How to deposit
- Navigate to “Funding” > Select the asset. You can find the asset either by ticking “Show all assets” or by searching (e.g for “Filecoin” or “FIL”).
- Click “Deposit” next to the asset and follow the on-screen instructions.
Confirmations required before deposits credit
- 300 (approximately 2.5 hours)
This was recommended by the Filecoin team and will likely be lowered after launch
Fine print and fees
- Deposit Minimum: 0.1 FIL
- Withdrawal Minimum: 0.1 FIL
- Deposit Fee: 0.001 FIL
- Withdrawal Fee: 0.001 FIL
- Deposit Address Setup Fee: N/A
- Trading Minimum: 0.125
Which services will FIL be available for?
Not (yet) available
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even about which assets we are considering. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade with caution
Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).
Invest with caution
Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.
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