A complete beginners’ guide on how to buy Chainlink. We explore the best brokers and exchanges where you can buy Chainlink instantly; including a set-by-step guide on how to buy the coin using PayPal and credit cards.
What is Chainlink? How do you buy Chainlink today? Where do you buy Chainlink (LINK) in 2023?
In 2019, LINK token prices grew at a faster rate than all other cryptocurrencies, including Bitcoins. To date, Chainlink has shot up by more than 185% and has an overall ROI (return on investment) of 13,000%+. It is this attractive price performance that has turned Chainlink into a must-have token for most crypto investors.
We will be answering these questions in this article when we look at how to buy Chainlink globally, the best brokers to buy Chainlink, and the different ways in which you can invest in Chainlink. We will also introduce you to the best Chainlink exchanges today and provide you with a step-by-step guide on how to buy LINK tokens instantly, and Chainlink derivatives on each platform.
|
           | Visit eToro Capital At Risk |
|
| Visit Capital.com 76% of retail CFD accounts lose money |
|
| Visit Coinbase Capital At Risk |
|
| Visit Binance Capital At Risk |
|
| Visit Kraken Capital At Risk |
Your first step in the journey to buying Chainlink starts with creating a crypto trader account. Identify a good crypto exchange or brokerage (eToro comes highly recommended) that lists Chainlink and create a user account here. Most will also demand that you verify your identity before you can start trading.
Deposit funds into the approved crypto trading account. Most exchanges and brokerages are highly versatile and allow you to buy Chainlink with PayPal, credit card or debit card, bank wire, other cryptocurrencies, and a myriad of eWallets, including Skrill, Neteller, Apple Pay, Google Pay, etc.
The payment method available to you will be highly dependent on your chosen Chainlink trading platform and country of residence.
After creating an account and depositing funds, you can now choose to buy Chainlink tokens or trade Chainlink CFDs (contracts for difference). By buying LINK tokens, you gain actual ownership and absolute control over your digital assets. These are mostly availed by cryptocurrency exchanges.
Trading LINK CFDs, on the other hand, majorly takes place in brokerages – some crypto trading platforms like eToro give you access to both LINK tokens and CFDs. Typically, you do not get to own the actual LINK tokens when trading CFDs but you get to go long or short on a leveraged trade.
Chainlink (LINK) is a highly decentralized oracle that makes it possible for blockchain smart contracts to connect to off-chain (real world) data in a decentralized environment.
An oracle, in this context, refers to a link or data feed that lets smart contracts access and interact with data from the real world – not available on the blockchain. Such data may range from political news, weather, commodity prices, sports data, and virtually any other form of information not available in the crypto universe. By linking smart contracts to a larger and more reliable pool of data, blockchain developers can now expand the use cases and complexity of these contracts exponentially.
We must, however, also appreciate that oracles have always been around. But Chainlink stands out because of its decentralized nature. A large number of the rest of the oracles are centralized and minimalistic in their reach – implying that they draw data from a single source -, which essentially creates a single point of failure.
The blockchain was launched on 4th September 2017 by Chainlink labs, under the stewardship of Sergey Nazarov. And according to the Chainlink whitepaper, it was designed to provide a solution to key challenges facing blockchain oracles, especially the lack of certainty for data provided by existing oracles and the trustworthiness and reliability of oracles.
Today, it is run by the highly decentralized Chainlink community that comprises data providers, smart contract developers, researchers, node developers, and security auditors. It has also worn partnerships and collaboration with data sources and consumers, making it the most utilized blockchain oracle in 2021. LINK is the ERC-20 token powering this decentralized blockchain oracle.
Both Chainlink and Bitcoin are blockchain technologies. Just as Bitcoin (BTC) powers transactions on the Bitcoin blockchain, LINK tokens power transactions on the Chainlink blockchain. The two crypto technologies, however, differ significantly especially when it comes to their design and functionality. Here are four key differences between Chainlink and Bitcoin:
Purpose: The Bitcoin blockchain and digital currency are designed to offer a solution to the challenges facing fiat currencies. The Chainlink decentralized oracle and LINK tokens are, on the other hand, designed to provide a reliable bridge between smart contracts on the blockchain network and off-chain data.
Functionality: The Bitcoin cryptocurrency currently serves as a store of value and a medium of exchange. LINK tokens are, however, yet to be adopted as mediums of exchange and can currently, only be used to facilitate transactions within the Chainlink oracle network.
Smart contract capability: The Chainlink decentralized oracle is specially designed to expand the capability and complexity of smart contracts by connecting them to more reliable data sources. It is, therefore, smart contract compatible. Bitcoin, on the other hand, is yet to support the creation of smart contracts on its network.
Consensus mechanism: Bitcoin uses the energy-reliant proof-of-work consensus mechanism to validate transactions and generate blocks. On the Chainlink decentralized oracle similar data is sourced from different nodes (data sources) and when consensus is achieved, this data is relayed to the smart contract.
When Chainlink launched, it was trading below 2 cents ($0.20) and CoinMarketCap has its earliest trading price as $0.1697 (on 21st September 2017). Unlike most other tokens whose anticipated wait sees their prices jump before correcting downwards, LINK token prices took a dip to their current all-time low of $0.13 within 48 hours of token launch.
It would, however, reach parity with the dollar, for the first time, on 6th January 2018 – just as the 2017 crypto market rally was looking to tip over. And as the rally died down, LINK token prices slipped below $1 in the second week of January the same year and traded within this region for the rest of 2018 and the first four months of 2019. In May, it started a rather meek price rally and carried it through to August 2020 when it peaked above $18.
It would, however, slip again and settle around $8 in October before embarking on yet another, and more impactful, the rally that saw it set an all-time high of $52.88 on 10th May 2021.
Today, FUD (fear, uncertainty, and doubt) have engulfed the crypto market and forced a major crash for virtually all cryptocurrencies.
But what causes this volatility? What are different factors acting on Chainlink’s token prices?
Collaborations and partnerships: As Chainlink enters into partnership and collaborates with more smart contract-capable blockchains, it onboards more users whose demand for LINK tokens pushes their prices up.
DeFi performance: Seeing that LINK tokens are yet to gain acceptance as a medium of exchange, most are locked in different DeFi (Decentralized finance) protocols. Therefore, as popularity for the DeFi ecosystem surges and more individuals borrow the token lending and borrowing business, its token prices are bound to increase, and vice versa.
Crypto market direction: LINK token prices have always played to the tune of the crypto market. When the market rallied in early 2021, LINK token prices rose to set an all-time high and when the market crashed, LINK prices followed closely. Moving forward, much of LINK’s price action will be dictated by the direction of the crypto market.
Now that we understand Chainlink’s price history and factors influencing its price action, perhaps it’s time we looked at the different ways in which you can invest in the LINK tokens. Here are the four most popular.
The buy and hold investment strategy involve buying LINK tokens from the UK and holding on to them for as long as possible. It is a form of long-term investment that involves holding on to Chainlink tokens and expecting their value to keep rising.
LINK token HODLers are confident that Chainlink will continue onboarding more partners, broadening the reach of its oracles, and drawing in more users. These, they believe, will ultimately push its price to astronomical highs and are, therefore, not worried about the short-term price dips along the way.
You may also choose to buy Chainlink CFDs. In such a case, you will not get access to LINK token private keys, which implies that you will not get to own these digital assets. The trade is availed by crypto brokerages and is more of a bet about the most likely price direction of LINK tokens than an investment.
The upside to buying LINK CFDs is that brokers let you go long (buy in anticipation of a price hike) or short (sell in anticipation of a price drop) on the trade. Importantly, CFDs are margined trades and brokerages let your open positions using leveraged (borrowed) funds. The amount of leverage available to you will nonetheless be dependent on your country of residence and preferred CFD trading platform. On eToro, for instance, leverage starts from 2X your investment capital.
Day trading is a form of active trading that involves buying LINK tokens, holding on to them for a limited time, and disposing of them as soon as they become profitable or start making a loss. It is referred to as day trading because traders ensure that they dispose of their LINK holdings before the end of their trading session – i.e. no holding Chainlink tokens overnight.
Day trading is, however, one of the riskiest forms of investing as it involves riding and taking advantage of the LINK token price volatilities. Since it involves closing a trade as soon as it gains a few cents, you will need significant capital investment if you are to make a decent income and pay the trading fees. It also requires a lot of trading experience and access to advanced trading and analytic tools, which makes it a preserve of professional crypto traders.
Position trading involves buying Chainlink tokens and holding on to them for a while before disposing of them when you have made enough profit or they start wiping profits made. It involves timing a LINK price rally, buying at the base of the rally, and selling at its peak. The holding time for position traders may range from a few days to a few months or even a year.
You now know what Chainlink decentralized oracle means, its past price action, and the different ways in which you can invest in LINK tokens today. Now, we need to understand the different payment methods that you can use to pay for the tokens.
eWallets have become a common feature in today’s world and one of the most convenient ways of paying for goods and services. Today, you can buy Chainlink with eWallets (Skrill, Neteller) on eToro. Here, and depending on your country of origin, eToro allows you to buy LINK tokens or trade-in Chainlink CFDs and pay using one of the supported eWallets, especially Skrill and Neteller.
The upside to using eWallets to buy LINK tokens is that they process the payment fast and charge minimal fees. They are also readily available in numerous countries across the world.
Note, however, that when buying Chainlink on eToro, the eWallet payment method available to you is determined by your country of residence.
Debit and credit cards have also gained popularity as payment method for purchasing cryptocurrencies.
You can, for instance, buy LINK tokens on eToro using a debit card or credit card. On eToro, and most other exchanges and brokerages, traders prefer paying for LINK tokens using a debit card or credit card to other payment methods because they are readily available, highly convenient, payment is almost instantaneous, and they also carry relatively low transaction fees.
eToro is one of the handfuls of cryptocurrency brokerages in the world that still allow their clients to buy LINK tokens using PayPal. The process is easy, straightforward, highly convenient, and largely characterized by fast payment processing and relatively low transaction fees.
Note, however, that not everyone can buy Chainlink with PayPal on eToro. The service is only available in select countries where both eToro and PayPal have an established presence.
The bank wire is the most accessible payment method to individuals looking to buy Link tokens on eToro and any other exchange. Where all other payment methods fail, you can always turn to it and buy Chainlink with bank wire.
Virtually every brokerage and exchange support bank wire transfers. However, most crypt traders do not prefer using banks as a deposit or withdrawal method when trading cryptocurrencies because it is not convenient. When buying LINK on eToro with the bank, for instance, it takes between 3 and 8 business days before your balance reflects on the trading account. The minimum deposit and withdrawal amounts are also higher, compared to the rest of the payment methods, and the transaction fee is relatively high.
A few crypto exchanges and brokerages like eToro let you buy Chainlink anonymously (without ID verification). There however is a hard limit on the number of LINK tokens that you can buy anonymously. On eToro, for instance, the maximum you can deposit into an unverified account is $2,250. And the service is only available in select countries.
After familiarizing yourself with the payment methods available to you when buying LINK tokens and the pros and cons of investing in Chainlink, You need to look at what you need to help you buy your first LINK token. Here are the three most crucial.
In-exchange wallets are the crypto storage services provided by a crypto exchange or broker and are relatively secure. Hardware wallets are the most secure and appeal to long-term investors/HODLers and high net worth crypto investors looking to buy large quantities of LINK tokens.
There is no standard minimum or maximum amount when it comes to investing in Chainlink – or any other cryptocurrency for that matter. Rather, how much you invest in LINK tokens should be determined by such factors as your investment goals, your investment strategy, and crypto trading/investing experience.
Chainlink (LINK), like most other cryptocurrencies, also allows for fractional ownership – implying that you can invest in just a fraction of the altcoin. But exchanges and brokerages have nevertheless set minimum trade amounts for different cryptocurrencies sold on their platform. On eToro, for instance, we have mentioned above that the minimum trade amount for LINK tokens or LINK CFDs is $25.
Your investment goals and the minimum trade amount capital by a crypto exchange aside, we must remind you that cryptocurrencies are volatile and often unpredictable investments. We, therefore, encourage you to only invest what you can afford to lose.
Due to its massive popularity, Chainlink has now been picked up by most cryptocurrency exchanges around the world. Whether you want to buy LINK tokens or trade LINK CFDs, there is always a readily accessible trading platform listing the token.
Chainlink has also been adapted into different forms by different crypto trading platforms. In addition to buying LINK tokens on exchanges like eToro and Coinbase or CFDs on brokerages like eToro and Capital.com, you now have access to other Chainlink crypto derivatives. These include Chainlink futures contracts offered on Binance exchange and the Chainlink Trust from Grayscale Investments but sold via different over-the-counter (OTC) exchanges.
Peer-to-peer trading platforms and local apps are facilitating the buying and selling of Chainlink tokens and derivatives. This then begs the question, when presented with this extended list of platforms selling LINK, how do you single out the best places to buy Chainlink?
There currently are hundreds, perhaps thousands, of exchanges, brokerages, peer-to-peer trading platforms, over-the-counter exchanges, and different other types of trading platforms offering LINK tokens that can overwhelm a trader looking for the best place to buy LINK.
So, how do you vet and break down this ever-growing list of exchanges and online trading platforms to find the one that works best for you? We have come up with a few pointers. Here are 5 critical factors that you must consider when looking for the best place to buy Chainlink globally.
Now that we have addressed everything you need to know before you buy your first LINK token, it now is time to look at the 5 best places to buy Chainlink in detail.
The eToro trading broker introduced Chainlink to their platform on 12th May 2021. Today, you can buy Link tokens and trade Chainlink CFDs on the platform. In countries where such crypto derivatives trading as LINK CFDs is banned like the UK or the US, residents here can only buy actual LINK tokens, the rest of the world is exposed to either Tokens, CFDs, or both.
To buy LINK on eToro, you will first need to create a user account and verify your identity. Note that while eToro allows its clients to buy Link anonymously (without ID verification), the option is only available to a handful of countries across the world and the maximum you can buy anonymously is $2,250.
The account creation and verification process are quite easy. Depending on your country of residence, you will be able to deposit investment capital into eToro using such supported payment methods as credit card or debit card, PayPal, eWallets like Skrill and Neteller, Bank wire, Raid Transfer, UnionPay, BPay, and Perfect Money.
The minimum you can deposit is $200 ($50 if in the US and $500 for bank wire). Importantly, remember that eToro has USD as its only base currency and your deposits or withdrawals in any other currency are, therefore, subjected to a 2% conversion fee.
eToro nevertheless doesn’t charge a deposit fee but maintains a withdrawal fee of $5 and the minimum withdrawal amount is $30. Other factors that act on your LINK trades include variable spreads for your Chainlink CFD trades and variable overnight fees for leveraged LINK CFD trades.
eToro is one of the most regulated crypto brokerages, it is available in 140+ countries and territories across the world, and presents Chainlink investment enthusiasts with a demo account where they can practice trading and familiarize themselves with the trading platform.
Check out our comprehensive eToro guide 2023 for more information.
1. Visit the official eToro website and click on the “Join Now” icon in the upper right corner of the website.
2. Register a trader account by completing the personal information form provided and verify your identity by sending eToro a copy of the government-issued identification document.
3. After the account is approved, log in to your account and click on the “Trade Markets” tab on the user dashboard. Click on the “Crypto” trading option and select “Chainlink” from the list of supported cryptocurrencies.
4. On the trading window, customize the trade by entering the number of LINK tokens you wish to buy or the amount of cash you want to spend on the trade and click on the “Open Trade” button.
5. You will be directed to the funding page. Here, click on the drop-down to view the payment methods available to you (we use the credit card option for illustration purposes).
6. Enter your card details (ensure that the name on the card matches the name used on the eToro account.
7. Click on the “Deposit” button to confirm the purchase.
Note: The purchased LOINK tokens will be delivered to your eToro custodial wallet. To move them to another wallet or exchange you will need to first transfer them to the free eToro mobile wallet app.
76% of retail CFD accounts lose money
The Capital.com trading platform is a derivative trading platform that specializes in forex and cryptocurrency CFDs. It stands out because of its award-winning online trading platform that infuses unique and highly advanced technologies to make CFD trading here as easy as possible. Today, you can buy Chainlink CFDs on Capital.com – which is available both as a web trader and mobile trading app.
Currently, however, Capital.com list only one Chainlink CFD trading pair – the LINK/USD pair, and the minimum trading amount for the pair is $1 and the minimum you can deposit is $20. The supported deposit and withdrawal methods at the moment include credit card or debit card, bank wire, eWallets like Apple Pay, RBS, World Pay, and Trustly.
The platform is highly regulated and available in 180+ countries across the world. However, residents of countries that have banned the sale of some crypto derivatives in their jurisdictions like the UK and the US cannot buy Chainlink CFDs on Capital.com.
The account creation and identity verification processes on the platform are quite straightforward. The brokerage’s AI-Powered trading platform is quite beginner-friendly and has oversimplified the process of investing in Chainlink CFDs. Capital.com is also highly regulated, plus it gives all its clients access to demo accounts that they can use to practice trading, create and perfect strategies, or familiarize themselves with the Capital.com trading environment.
To learn more about Capital.com and its offerings, check out our detailed Capital.com 2023 review.
1. Visit the official Capital.com website and click on the “Trade Now” icon to start the account creation process.
2. Complete the user registration form and furnish Capital.com with a copy of your government-issued identification document.
3. After the trader account is approved, log in and click on the “Deposit” or “Fund Account” button on the user dashboard.
4. From the list of Capitral.com supported payment methods available to you, select a preferred deposit option. Enter the amount you would like to deposit and follow the prompts to confirm the deposit.
5. When the deposit reflects in your Capital.com trading account use the search button to search for Chainlink. This reveals the LINK pairs supported by Capital.com.
6. Use the trade menu to the right of the screen to customize the trade by entering the trade amount and leverage, set up the stop loss and take profit levels, and decide if it is a long (buy) or short (sell) order.
Step 7: Review the trade details and confirm the trade by tapping on the “BUY/SELL” button
The Coinbase trading platform is one of the oldest, most reputable, and largest cryptocurrency trading platforms around. It introduced Chainlink to its platform on 28th June 2019. Today, anyone in the 100+ countries where coinbase.com has an established presence can buy Chainlink on Coinbase web trader or its Android and iOS apps.
To start trading Chainlink tokens on Coinbase, all you need is a verified crypto trader account and a minimum of $1 in your account. And you can make this deposit using such supported payment methods as credit card or debit card, bank wire, PayPal, eWallets (Skrill & Neteller) Sofort, iDEAL, SEPA, and Faster Payments.
Coinbase stands out because of its ease of use, the intuitiveness and beginner friendliness of its platforms, and the fact that it provides personalized digital wallet services. This implies that when you buy LINK tokens on Coinbase, the exchange will store them, on your behalf. 98% of these are stored in cold storage and only 2% is stored on hot wallets.
If you want to retain ownership and custody of your coins, Coinbase provides you with a free Coinbase wallet app that encrypts the private keys for your LINK tokens and stores them in your mobile phone.
Coinbase is also highly regulated in different financial jurisdictions and joins the growing list of crypto brokerages and exchanges that insure all their client deposits.
Our complete Coinbase review 2023 has all the information you need to get started. Be sure to check it out.
1. Visit the official Coinbase website. Click on “Open account” and proceed to create a trader account and verify your identity (mandatory).
2. Once the account is approved, open the user dashboard, click on the “Portfolio” tab, and then choose “Deposit Funds.” You will be presented with different payment methods depending on your country of residence, but the most common is credit card or debit card, and bank.
3. Proceed to buy Chainlink (LINK) by clicking on the “BUY/SELL” tab on the top right corner of the user dashboard and choosing Chainlink.
4. Customize the trade by entering the amount of cryptocurrency you would like to buy (in your local currency, not USD).
5. Complete the trade by clicking on the blue “Buy Chainlink” box.
Note: The LINK tokens purchased here will be delivered to your Coinbase exchange wallet. You may however connect the exchange with the Coinbase wallet app and transfer them here for outbound forwarding to other wallets or exchanges.
The Binance crypto exchange is one of the largest and most popular cryptocurrency trading exchanges in the world. It was also among the first exchanges to embrace Chainlink and list LINK tokens on their platform. Today, therefore, any of the residents in the 200+ countries and territories that support Binance can buy LINK tokens on Binance web trader as well as on the Binance Android and iOS apps.
Further, crypto traders looking to invest in Chainlink via Binance also have the option of either buying LINK tokens or trading Chainlink Futures contracts. And, unlike other trading platforms listed here that do not support anonymous trading, Binance lets investors from select countries buy LINK anonymously (without ID verification), though the monthly maximum trading limit for an unverified account is 2BTC (or equivalent).
Binance stands out because of its professional and resource-rich trading platform and for maintaining the most competitive trading fees. For the longest time, Binance had been accused of not being as beginner-friendly as its competitor Coinbase. To address this, Binance recently introduced quite a beginner-friendly peer-to-peer trading platform within the exchange.
Traditionally, Binance had also set itself up as pure crypto to crypto exchange and won’t let any of its clients buy Chainlink and other cryptocurrencies with fiat directly. These would only be facilitated via third-party crypto exchanges. Today, however, Binance has since started processing card payments you can now buy LINK on Binance with a credit card or debit card. The minimum deposit is $15 and the minimum trade amount on the platform is $1.
Binance is a self-regulation proponent, which means that, unlike its peers, Binance is not actively seeking to be regulated. This has put it at loggerheads with several pro-regulation jurisdictions like Japan, the UK (where it was recently banned), and Ontario, Canada (where it was recently banned).
Check out our full Binance review 2023 to learn everything you need to get started.
1. Visit the official Binance exchange website and click on the “Register” icon on the upper right corner of the wallet to start creating a user account.
2. Complete the user registration form provided and verify your identity by sending the exchange a copy of your government-issued I.D.
3. Fund your account by depositing cryptocurrencies into the approved account. Alternatively, click on the “Buy Crypto” tab on the Binance main menu and choose “Buy With Card” from the drop-down menu.
4. On the trading window that pops up, choose Chainlink as your preferred cryptocurrency, enter the amount of cash you want to spend on the purchase, and add your card by entering the card details.
5. Confirm that both the card details and the amount you want to spend buying LINK tokens are okay before hitting the “BUY” button to confirm the transfer.
Note: For the transaction to go through, the name on the card should be the same as the name used to create the Binance account. If the purchase is approved, the LINK tokens will be deposited into your Binance exchange account. But you can easily transfer them to another wallet or exchange them from here.
Kraken is one of the oldest and most reputable cryptocurrency trading platforms. On several occasions, it has been voted the most secure trading platform and it was also the first crypto exchange to publicly share its proof of reserves audit report. It is currently available in 176 countries and territories across the world and anyone residing in these jurisdictions can buy Chainlink on Kraken.
You also have the option of choosing to buy LINK tokens or trading Chainlink futures contracts. And LINK tokens can only be sold for cash, Chainlink futures can be margin traded and Kraken gives you access to leverages of up to 50:1 depending on your country of residence.
The minimum deposit on Kraken is $10 and the minimum trade amount is $1. The supported payment methods vary from bank wire, bank cards, and cryptocurrency – depending on your country of residence. Once
Kraken is also a highly regulated cryptocurrency exchange. Plus, it gives all its clients access to a demo account loaded with virtual crypto that they can use to practice trading Chainlink futures.
Intro: how it works, account creation, deposit and buying limits, regulation and reputation, supported payment methods, storage of LINK– native or third-party wallet
1. Open the official Kraken website on your browser and click on the “Create Account” icon.
2. Create your user account by completing the user registration form provided.
3. Start the account verification process. When you verify your phone number, you unlock the “Starter” trader level that lets you withdraw the maximum of $150,000. When you provide Kraken with an identification document and selfie, you unlock the Intermediate level that carries a maximum withdrawal limit of $15 Million. The PRO level unlocks a withdrawal maximum of $100 Million per month and is available to institutional investors and requires financial statements and AML tests.
4. On your user dashboard, click on “Funding” and choose the preferred payment option. Follow the prompts to complete the deposit.
5. Once these funds reflect in your account, click on the “Trade” button and proceed to pace a market or limit order for the Chainlink tokens you wish to buy.
Note: The purchased LINK tokens will be deposited into your Kraken in-exchange wallet but you are free to transfer them to a third-party wallet or exchange.
In addition to buying Chainlink on the different exchanges and brokerages, there are several other avenues that you can use to acquire LINK tokens today. Here are the three most common.
You may acquire ownership of Chainlink tokens when you receive them as a gift or a tip. Chainlink’s popularity has made a common investment in the crypto community and it, therefore, shouldn’t come as a surprise if a friend or acquaintance seeks to gift or offer a tip in the form of LINK tokens. Creatives and other service providers are also encouraged to integrate tip jars that accept LINK tokens on their platforms.
Faucets are websites and other online platforms that reward clients for completing simple tasks like playing online video games, watching ads, completing surveys, and other micro activities. Traditionally, these rewards would come in the form of cash – typically USD. Today, however, most have embraced crypto and some will now reward your contribution with LINK tokens.
Chainlink, like Bitcoins, can be mined. To start mining LINK tokens, however, you will need to invest in such mining tools as graphics cards. You can then opt to go solo or join a Chainlink mining pool and contribute your computational power for a share of the mined LINK tokens – based on the amount of power contributed.
After acquiring Chainlink, what do you do with them? How or where can you use or spend Chainlink tokens. Here are the five most common ways of using your LINK tokens.
You can choose to hold on to them as a speculative investment, waiting for their value to rise. HODLing is a long-term investment strategy that involves buying LINK tokens and holding on to them for years.
You may also choose to actively trade your Chainlink digital assets. This may be active day and swing trading which involves selling when the price rises and buying when it drops. Here, you are essentially taking advantage of the Chainlink price volatilities.
As we have mentioned in this article, Chainlink is yet to receive mainstream adoption as a medium of exchange. This, however, doesn’t stop some merchants and service providers from selling providers from accepting LINK tokens as a settlement for goods or services provided.
Multiple charitable organizations all across the world have embraced cryptocurrencies and will gladly accept Chainlink donations. You may therefore choose to direct some of your LINK tokens to charitable courses.
We have already mentioned that one of the alternative methods of acquiring Chainlink tokens would be gifts or tips. Similarly, after buying or mining, or acquiring LINK tokens, you too may choose to share them as gifts or tip creatives and other service providers.
Chainlink is such a hot topic of discussion on Reddit. There is even a Chainlink subreddit with over 62,000 followers and they discuss all matters Chainlink decentralized oracle and LINK tokens here. The subreddit is the news and announcement center for Chainlink as it updates members on developments within the Chainlink adoption and shares important news like possible adoptions or partnerships with other on-chain and off-chain brands.
The members also get to any question about Chainlink and get answers from other members of the subreddit moderators. At the moment most of the questions being asked about Chainlink here range from when LINK token staking will be available, possible LIN token future price action, and how it fares against the competition. Overall, the community is quite optimistic about Chainlink’s future price performance and ability to onboard new partnerships moving forward.
Chainlink is a hot topic of discussion on Quora too. Here, the platform users have bombarded the platform with numerous questions about the design of the Chainlink decentralized oracle, its competitiveness in the blockchain world, and its possible future price action.
The Quora community members want to know if it is possible for Chainlink to eventually dethrone Ethereum as the second most popular cryptocurrency and compare it to such competition as Polkadot, Cardano, and Solana if LINK tokens are a good long time buy. Most of the responses to these questions are hugely optimistic of Chainlink’s continued uptrend and competitiveness.
Chainlink’s popularity has soared over the last few months, making it one of the most profitable crypto investments and a must-have for any crypto investor. It has also been quickly picked up by virtually all the leading cryptocurrency exchanges, brokerages, and multiple trading platforms.
Today, therefore, you can buy Chainlink tokens and trade Chainlink derivatives, especially the CFDs and Futures contracts on an unlimited number of exchanges and brokerages online. These trading platforms also present you with the most convenient payment methods that you can use to pay for your LINK tokens.
In this article, we have highlighted reasons why Chainlink has become a must-buy for crypto investors, explained the different payment options available to Chainlink traders, told you where to buy LINK tokens, explained what you to consider when choosing the best places to buy Chainlink, and provided with a step-by-step guide on how to invest in Chainlink in what we consider the 5 best Chainlink trading platforms in 2021. To start buying Chainlink, go through this article again, complement it with your research, and follow the steps we have provided to make your Chainlink investment.
There are a few different ways to purchase Chainlink, but the most common one is through an exchange. There are a variety of exchanges that list LINK, so you’ll need to research which one is best for you. Once you’ve found an exchange that you’re comfortable with, you can create an account and deposit funds. Once your funds have cleared, you can then start buying and selling Chainlink.
Yes, you can buy Chainlink right now! All you have to do is choose a platform from the ones listed above, create an account, deposit funds and proceed to make a purchase.
If you’re looking for a safe, low-risk investment with modest returns, then probably not. However, if you’re looking for an asset that has the potential to provide large returns in a relatively short period of time, then Chainlink could certainly be considered a good investment.
There’s no doubt that Chainlink has a lot of potential and could play a major role in the future of blockchain technology. Its ability to connect different blockchains and allow them to communicate with each other could be invaluable in creating more robust and efficient ecosystems. So it’s definitely worth keeping an eye on!
Chainlink is built on Ethereum. It’s one of the most popular and well-known platforms for building decentralized applications. Chainlink allows you to connect blockchain networks with external data sources and APIs, which is why it’s so useful for smart contracts.
No one can definitively say whether or not Chainlink will reach $10,000, but it’s definitely possible. With more and more people recognizing the potential of blockchain technology, it’s likely that demand for LINK will continue to grow. When it comes to investing in cryptocurrency, though, always remember to limit your exposure and never invest more than you’re willing to lose.
Some people believe that Chainlink is a better investment than Ethereum, while others contend that Ethereum is superior in every way. There are pros and cons to each blockchain, and it ultimately comes down to personal preferences.
Chainlink is not a blue chip. A blue chip is a type of stock in the United States that is known for its stability and liquidity. chainlink does not meet those qualifications.
