Filecoin (FIL) has emerged as a significant player in the decentralized storage space. Whether you are new to the ecosystem or a seasoned user, managing your FIL assets effectively is crucial. This guide addresses common questions and provides clear, step-by-step solutions for creating, importing, exporting, and transacting with FIL wallets, ensuring a smooth and secure experience.
Creating a FIL Wallet
How to Create a FIL Wallet
There are several methods to create a FIL wallet, depending on your situation:
- For New Users: When you first set up a wallet, you can create a new identity. During this process, you have the option to generate a FIL wallet along with wallets for other supported blockchains. Once the identity is created, your FIL wallet is ready for use.
- Adding FIL to an Existing Identity: If you already have a wallet identity but haven't added FIL to it, you can easily do so. Navigate to your profile, access wallet management, and select the option to "Add Currency." From the list, choose FIL to add it to your existing identity.
- Creating a Standalone FIL Wallet: For users with an existing identity who wish to have a separate FIL wallet, the process is straightforward. Go to your wallet management section, click "Add Wallet," select FIL, and then choose "Create Wallet." Follow the on-screen instructions to set a wallet name and a strong transaction password. The most critical step is to securely write down your 12 or 24-word recovery phrase (mnemonic seed) and verify it to complete the setup.
👉 Explore secure wallet creation strategies
Importing a FIL Wallet
How to Import an Existing FIL Wallet
If you already have a FIL wallet from another service, you can import it using your recovery phrase or private key. Open your wallet app, go to the management section, and select "Add Wallet." Choose FIL and then select either "Recovery Phrase" or "Private Key." Carefully enter your backup information, set a new password for the wallet, and the import process will be complete.
Important Notes:
- A recovery phrase consists of words separated by spaces.
- A private key is a long string of characters; do not add spaces when importing it.
- For maximum security, it is highly recommended to create a new wallet within your app rather than importing backups from other applications.
Why Can't I Import a secp256k1 Format Private Key?
The Filecoin ecosystem has not standardized a single private key format. Most wallets support the mainstream formats used by the official Filecoin wallet and other major providers. If you encounter issues importing a secp256k1 format private key, try using your recovery phrase instead. If that fails, creating a new wallet and transferring your assets to it is a reliable solution.
Why Did My FIL Address Change After Importing?
Inconsistencies in address derivation after importing a recovery phrase occur because different wallets may use different cryptographic standards (e.g., EIP-2333 vs. other standards). If your imported recovery phrase generates a different FIL address, the safest recourse is to create a new FIL wallet within your current app and transfer your assets to this new address.
Exporting FIL Wallet Secrets
How to Export Your FIL Recovery Phrase
Your method for exporting your recovery phrase depends on your wallet type:
- Identity-Based Wallets: If your FIL wallet is part of a multi-chain identity, you can manage it with a single recovery phrase. To export it, navigate to your wallet management, find your FIL address, access the identity management settings, and select "Backup Wallet." After entering your password, your identity's recovery phrase will be revealed.
- Standalone FIL Wallets: For wallets that were added or imported separately, you need to back them up individually. Find the specific FIL wallet in your management list, select it, and choose the "Backup Wallet" option. Enter your password to view and record the recovery phrase.
Remember: Your recovery phrase is the ultimate key to your funds. Store it offline in a secure and private location. Never share it with anyone.
How to Export Your FIL Private Key
While the recovery phrase is sufficient for backup, you can also export your private key. To do this, locate your FIL wallet in the management section, enable "Advanced Mode" (if available), and select "Export Private Key." You will need to confirm your password to view the private key string.
Managing FIL Transactions
How to Send FIL
To send FIL from your wallet, select the FIL asset, tap "Send" or "Transfer," and enter the recipient's FIL mainnet address and the amount. Confirm the transaction details, including the network fee (gas), and authorize the transfer with your password.
Key Considerations:
- Network Fees: All transactions require FIL to pay for network gas fees.
- Network Compatibility: Always ensure you are sending FIL to a mainnet FIL address. Sending to an address on a different network (like Ethereum) will result in permanent loss of funds.
What to Do If You Send to the Wrong Address
Blockchain transactions are irreversible. If you send FIL to an incorrect address, recovering the funds is only possible if the owner of that address voluntarily returns them.
- Identify the address: Was it a deposit address for an exchange? A friend's address? A project's address?
- Contact the recipient: If it's an exchange, contact their support team. If it's a friend, ask them to return the funds.
- Act quickly: The sooner you act, the higher the chance of a successful recovery.
Troubleshooting Failed Transactions
A common reason for a failed transaction is insufficient FIL to cover the network gas fee. Always ensure your wallet has a small amount of FIL to pay for these costs. If your transaction fails, check your balance and try again with an adequate fee.
Dealing with a Stuck or Pending Transaction
A transaction can get stuck if the gas fee was set too low during a period of network congestion. Many wallets offer a "Speed Up" or "Accelerate" function. Locate the pending transaction in your history, select the accelerate option, and approve a higher gas fee to push it through the network.
👉 View real-time network tools and gas estimators
Transaction Shows Success but Recipient hasn't Received Funds
If your wallet shows a transaction as successful but the recipient hasn't received the funds:
- For Exchange Deposits: Contact the exchange's customer support with the transaction ID (TXID) so they can investigate the deposit on their end.
- For Other Wallets: Ask the recipient to check their wallet's transaction history using a block explorer. Provide them with the TXID for clarity.
The TXID serves as immutable proof that the transaction was broadcast to the network.
Receiving FIL Assets
How to Receive FIL
Receiving FIL is simple. Open your FIL wallet, tap on the FIL asset, and select "Receive." This will display your unique FIL mainnet address and a QR code. You can share this address with the sender. Always double-check that the sender is using the Filecoin mainnet.
Why Did My FIL Become HFIL?
This occurs when assets are sent across incompatible networks. FIL is a native asset on its own blockchain. However, some exchanges issue wrapped tokens on other networks, like Ethereum. If you withdraw FIL from an exchange like Huobi using the ERC-20 network option, you will receive HFIL (a Huobi-issued Ethereum token) in your Ethereum wallet, not native FIL.
Important: HFIL can only be sent back to the issuing exchange (e.g., Huobi) to be converted back to native FIL. Always ensure you are withdrawing to the correct network—Filecoin mainnet—to receive native FIL.
Frequently Asked Questions
What is the difference between a recovery phrase and a private key?
A recovery phrase (or seed phrase) is a human-readable set of words that generates all the private keys for your wallets. A private key is a long, complex string that directly controls a single wallet address. The recovery phrase is a master key, while a private key is a specific key for one door.
I lost my recovery phrase. Can I recover my wallet?
No. Your recovery phrase is the only way to regain access to your wallet if you lose your device or forget your password. Without it, the funds are permanently inaccessible. This is why secure backup is non-negotiable.
Are there any fees for receiving FIL?
No, receiving funds is always free. Network fees are only charged for outbound transactions (sends) and smart contract interactions.
What makes a transaction confirm faster?
Transaction confirmation speed is primarily determined by the gas fee you pay. During times of high network demand, paying a higher fee incentivizes miners to prioritize your transaction, leading to faster confirmation times.
Is it safe to share my public FIL address?
Yes, it is perfectly safe to share your public receiving address. This allows others to send you funds. You must never share your private key or recovery phrase, as this gives anyone full control over your assets.
Can I use the same FIL address multiple times?
Yes, you can reuse the same receiving address as many times as you like. However, for enhanced privacy, some users prefer to generate a new address for each transaction, a feature many modern wallets support.