Most traders focus on major cryptocurrencies, such as Bitcoin, Ethereum, and Monero. More experienced investors understand that lurking for hidden gems is an excellent opportunity, especially if you choose the right conversion moment. If you have some Filecoin in your digital wallet, this article discusses whether you should swap it for Storj now.
For many traders, the FIL vs STORJ showdown is tempting, and they wonder which token to keep. This article will get you familiar with both projects, price predictions, and other important details.
What Is Filecoin?
Filecoin is a blockchain that offers a file storage solution that guarantees maximum security while ensuring you won’t lose any uploaded data. It is a P2P network built on the IPFS protocol. If you want to store a file on this blockchain, you pick a miner and use FIL to pay them for file hosting. Miners are essential for the Filecoin blockchain since these devices store users’ data.
Before uploading your file, you can pick from different miners that vary in speed, redundancy, and cost. That ensures each user has a solution that fits their preference. Miners earn FIL, which is the native token of this chain, for executing these deals and helping add new blocks to the chain.
FIL Price Prediction
FIL’s current value is $6.14, and with a market cap of $2.6 billion, the coin made its way to the top 30 in the crypto rankings. The all-time high was an incredible $237 in 2021, but the project isn’t attracting anywhere near the same attention at this point.
That will change slowly since Filecoin will keep stabilizing in the coming years. By the end of 2023, it could be worth from $9 to $13, but it could go up to $26 in 2025. By 2030, Filecoin’s value could be anywhere from $59 to $123.
Whether you want to trade Filecoin or looking for a Bitcoin to Monero exchange, it’s important to pick a reputable platform that guarantees anonymity and low transaction fees.
What Do We Know About Storj?
Storj has a similar purpose as Filecoin since this project also offers a decentralized cloud storage solution with maximum security and privacy. The platform collects the data to store and shares it into small fractions, which are then distributed throughout the entire network.
The main goal of Storj is to be a decentralized replacement for the Amazon Cloud platform, Google Cloud, and similar solutions. No single entity can access all data since it’s divided into fragments and spread across the network, which is how users keep absolute ownership and control over their files.
Downloading data is surprisingly fast because sharding includes retrieving sections of the targeted files from different sources simultaneously. If you have free disk space, you can rent it on Storj’s P2P cloud market to earn STORJ tokens, which are the platform’s native coins.
STORJ Price Forecast
The current worth of STORJ is $0.40 per token, and it ranks below the top 150 coins in the crypto rankings, with the market cap set at $161 million. The token was valued at $3.9 in 2021, but can it ever reach its all-time high again?
Experts say yes, but that will take some time. In 2023, STORJ isn’t likely to go above $0.8, and those are optimistic predictions. The growth will continue in the next two years, with the value potentially reaching $1.3. By 2028, the coin could be anywhere from $2.2 to $3.3. STORJ might exceed its all-time high value by 2030, as most optimistic forecasts believe it could even reach $7 by then.
FIL vs STORJ: What to Choose?
Filecoin and Storj are fairly similar projects, but the former seems more stable at this point. The concept of cloud storage looks attractive, so there’s nothing to say Storj won’t have more success in the coming years. That could be a bit riskier than keeping FIL, but if you are ready to take the risk, go ahead and convert your coins to STORJ. Ultimately, you are the one who decides about your trading moves, so consider which project you find more attractive and pick accordingly!