> For the complete documentation index, see [llms.txt](https://docs.sia.tech/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.sia.tech/get-started-with-sia/learn-about-siacoins.md). # Learn about Siacoins ## Siacoins on the Sia Network Siacoins (SC) are the utility tokens used on the Sia network and are required for any activity on the network. Siacoins serve a single purpose – facilitating network operations – and are used in various ways, such as: * Uploading files to Sia, you use Siacoins to pay for storage. * Earning Siacoins for storing others' data. * Transferring by sending them to others or receiving them at your wallet address. Siacoins can be stored using our [official software](https://sia.tech/software/walletd) on a hardware or paper wallet. You can obtain Siacoins by having someone send them to you, purchasing them on an exchange, or mining. ## How to obtain Siacoins Whether you want to upload files to the decentralized cloud or lend extra storage space to the network, you need Siacoins to use Sia. Siacoins can be sent to you once you make a Sia wallet address, or you can mine them. Otherwise, you'll need to buy them. ### Buy from an exchange Siacoins are listed on several exchanges, and you can find the list of exchanges where Siacoins are available on our [official website](https://sia.tech/community?category=exchanges). Purchasing Siacoins from an exchange typically offers competitive prices but may involve a steep learning curve for new users. {% hint style="info" %} Some exchanges support direct fiat (local currency) to Siacoin purchases, but others require you to buy Bitcoins, Ethereum, or other cryptos to make your purchase. Please visit the exchange's official website to find out more. {% endhint %} {% hint style="warning" %} For those new to cryptocurrency purchases, it's advisable to begin with a modest amount until you feel confident and familiar with the process. {% endhint %} Exchange wallets may not always be the ideal choice for storing cryptocurrencies and will not serve the intended purpose of using Sia effectively. Now that you have Siacoins, you're able to transfer them to either [`renterd`](/store-your-data/setting-up-indexd/transferring-siacoins.md), [`hostd`](/provide-storage/transferring-siacoins.md) or [`walletd`](/wallet/transferring-siacoins.md) Sia wallet address. ### Receiving from others By sharing your generated Sia wallet address, Siacoins can be sent to you in a few minutes. Ensure the full address is without any extra spaces, and provide this address to whomever you're receiving the funds from. You can also receive Siacoins, share your QR code for others to scan, and send funds to your wallet.

renterd Sia wallet address and QR code

### Mining on the network \ When you mine on a cryptocurrency network, you contribute computing power to help process and verify transactions. Miners verify the integrity of the blockchain. On Sia, miners are rewarded with Siacoins for their services. Our [official website](https://sia.tech/community-ecosystem?software=mining_pools) shows a list of Siacoins mining pools. Please see their documentation to get started. #### The Block Rewards The block reward is the miner's incentive to contribute their computing power and electricity costs to the network. When a block is successfully verified or solved, an amount of Siacoins is paid out to those who mined the block. Unlike Bitcoin and other cryptocurrency blockchains, the Sia block reward does not stop decreasing to zero. Once the block reward reaches 30,000 coins, it stays at that level, so miners continue to receive a reward for each block. {% hint style="info" %} When the Sia network launched, the block reward was 300,000 Siacoins. This decreases by one every block, with a floor at 30,000 – reached at block 270,000 (300,000 - block height). {% endhint %} #### Proof-of-work The Sia blockchain operates on Proof-of-Work to maintain the integrity of transactions and contracts. Whether used to power cryptocurrencies like Bitcoin or utility and storage contracts like Sia, trust comes from a blockchain's immutability. With no central authority to oversee transactions or contract validity, the assurance comes from the blockchain itself. Proof-of-Work deters attempts to alter the history of the blockchain by making it require significant effort and expense. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.sia.tech/get-started-with-sia/learn-about-siacoins.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.