Upbit, one of the largest cryptocurrency exchanges in South Korea, has announced the listing of Filecoin (FIL) on the KRW market, expanding trading options for users.
Start of FIL/KRW Trading
Trading for FIL/KRW will begin at 16:30 on April 4, with certain trading restrictions in place to ensure a stable market opening.
Trading Guidelines and Restrictions
The exchange has set the following trading restrictions:
- Buying restriction: Buying orders cannot be placed during the first five minutes after the transaction starts. - Minimum sell price restriction: Sell orders that are 10% below the previous day's closing price will be restricted for the first five minutes. - Order type restriction: Only limit orders can be used during the first hour after trading starts.
Users are advised to verify the network before depositing funds. Deposits made from unauthorized exchanges will require additional verification and may experience delays. Larger transactions may require proof of source of funds under Upbit’s terms of service.
What is Filecoin (FIL)?
Filecoin is a decentralized storage network built on the InterPlanetary File System (IPFS) that allows users to rent or purchase storage using FIL tokens. This system aims to provide a secure and efficient alternative to traditional cloud storage services.
Upbit reminds investors that digital asset trading is subject to high volatility and regulatory changes. Users should conduct thorough research and pay attention to price differences across global exchanges before investing.
