Where to buy Chainlink(LINK) if you are planning to invest in this crypto? This guide explains the best places to get LINK in detail!
The cryptocurrency ecosystem has witnessed enormous growth in the past few years and is still under continuous development and progress. Back in 2009, it started with Bitcoin a brand new technology that is able to send value(BTC) across borders in a trustless way.
After the definite breakthrough of Bitcoin in 2013, it didn’t take long before blockchain technology really took off with the birth of Ethereum. In fact, Ethereum took this interesting technology to another level by introducing smart contracts in a decentralized way.
Moreover, Ethereum is the second-largest blockchain project in the world currently worth about $295 Billion and the numbers keep on counting. In addition, Ethereum is particularly famous for being an open platform(open source) and also designed to have countless uses cases and solutions in a digital and decentralized world.
One of these interesting solutions is Chainlink(LINK) which is closely related to Ethereum. This guide in the best places to get Chainlink(LINK) I’m going to share with you finding the most trusted exchanges. Also, it gives you some deeper insight into the project.
Finally, I’ll explain what possibilities you have in buying LINK regardless of where you live in the world. So let’s go 🙂
In short, below is a consolidated list of the best places to buy Chainlink(LINK) cryptocurrency. For ease of use, I have chosen exchanges that are reliable, secure, and offer high liquidity.
- Binance (Best crypto exchange for beginners 👶)
- Kraken (Best exchange for fiat-traders 💵)
- Coinbase (Best option for LINK ‘hodlers’ 💎)
- Kucoin (Best exchange for automated trading 💻)
- Bitfinex (Best exchange for investors or Chainlink whales 🐋)
- Bittrex (Best option for crypto spot trading 💱)
- Okex (Best exchange fro Asian traders 🌏)
Firstly, Chainlink was launched from an ICO back in 2017. Additionally, this launch had some major complications where participating investors had to invest 100 ETH to get the LINK tokens. In 2017, ETH was trading at 300 USD, and to invest 100 ETH wasn’t for everybody.
Also, not long after launch, the price dropped dramatically and the project seemed to be doomed. Although price action went south and investors left the ship, it didn’t demotivate CEO Sergey Nazarov to continue with the project.
One of the remarkable facts of this Chainlink project is that it doesn’t spend money on marketing and has its focus fully on software development. For example, Justin Sun the CEO of TRON uses media attention for every single software update. The Chainlink team rather keeps quiet and has its focus on delivering a new innovative blockchain concept.
Chainlink is a decentralized network of nodes with the aim to deliver electronic data that isn’t available on the Ethereum blockchain. In other words, smart contracts on Ethereum very often need data that comes from electronic devices like security cams or other external devices.
Chainlike acts as a second layer on the Ethereum blockchain and uses ‘Oracles’ to collect this electronic data.
What is the problem
The Ethereum blockchain uses smart contracts that are available in a decentralized way which removes the need for a third party and is trustless. Currently, when a smart-contract needs external data it uses an API from an ‘Oracle’ to collect it.
However, these oracles are centralized services that invalidate the nature of a decentralized smartcontract. Moreover, this dependency on getting external data introduces the single point of failure problem.
To fill this gap, Chainlink was developed as the first decentralized oracle that can provide external data to smart contracts. As a result, the security and determinism of smart contracts can be combined with the knowledge and breadth of real-world external events. Chainlink will provide a decentralized smart contract with access to any external API needed.
In my opinion, if you really want to be safe from hackers or scammers, buying or trading Chainlink at a centralized platform like Binance isn’t the best way. Additionally, you should also realize that you want to invest in Chainlink for the long run.
If that is the case, then it is highly recommended that you start using a hardware wallet like Ledger Nano to be as safe as possible. The big benefit of Ledger is that you can store your cryptos offline as long as needed.
Also, if you want to buy or sell, you can use the built-in exchange that is available in the app on the device. Remember that trading with the device comes at a cost as you are using a third party(Coinify) for the transactions.
In general crypto traders from the USA are very limited in the options they have on trading digital assets on a global scale. In most cases, only the coins that can apply to strict legal regulations are allowed. Luckily for you(if you are from the USA) Chainlink can be traded or bought on Kraken and Coinbase.
This comparison guide provides an overview of places to buy Chainlink(LINK) that are reliable and secure. The research is based on assessing the platform’s features, ease of use, fees for buying crypto, and security.
|📈Platform||💰Maker fees||💰Taker fees||✔️Rating||📑Guides|
|Binance||0.075%||0.075%||Binance trading guide|
|Kraken||0.16%||0.26%||Kraken trading guide|
|Kucoin||0.10%||0.10%||Kucoin trading guide|
|Bitfinex||0.10%||0.20%||Bitfinex trading guide|
|Bittrex||0.25%||0.25%||Bittrex trading guide|
|Coinbase||0.5%||0.5%||Coinbase vs Coinswitch|
|Okex||0.1%||0.1%||Okex trading guide|
Next in this guide, I’ll deep dive into the different platforms that offer to trade in LINK cryptocurrency. Also, each platform has its unique features and it’s up to you to decide which one will suit you best!
Binance: Best crypto exchange for beginners
First, there is Binance, a crypto trading platform that is is founded by Changpeng Zhao, a well-known blockchain industry expert, and expert in setting up trading systems.
In the past, he also founded BijieTech and was head of development at Blockchain.info. Binance can be considered as the best altcoin trading platform if you consider the trading volume and the number of coins listed on the exchange(300+).
Additionally, based on daily(24h) trading volumes, Binance is the biggest cryptocurrency exchange in the world. Also, it has millions of cryptocurrency traders using its platform on a daily basis.
Besides trading, Binance offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
Trading a Binance can be done with almost zero fees(0.075%) and you can use this link when signing up. It will give you an additional 10% discount on fees for life 😄.
LINK Cryptocurrency trading pairs on Binance
Kraken: Best exchange for fiat traders
Another popular place to get Chainlink is Kraken. Additionally, it’s one of the most reliable and safest cryptocurrency exchanges out there and has been around for a while already.
Founded in 2011, Kraken is a US-based cryptocurrency trading platform available in 48 US states and 176 countries. Also, because of its safe reputation, the exchange data is being used as a ticker(BTC/USD) on the Bloomberg terminal.
The Kraken platform specializes in offering Bitcoin trading services for the beginner as well as the professional trader. Besides trading in digital assets, it’s also possible to store your crypto in custodian wallets, crypto lending services, and staking cryptocurrencies.
Spot trading cryptocurrencies gives you a fee of 0.16% and this value decreases when USD volume rises. Additionally, margin trading is even cheaper where the rate is set to 0.01%.
LINK Cryptocurrency trading pairs on Kraken
Kucoin: Best exchange for automated trading
Compared with the centralized exchanges above, Kucoin is probably a modern platform for trading any cryptocurrency. This platform founded by a group of cryptocurrency enthusiasts from Asia aims to offer comfort and security to your mighty assets. Kucoin which was launched in May 2017, has its headquarters in China despite the difficult climate towards cryptocurrencies performed by the local government.
One of the remarkable policies this centralized trading platform has is its liberal sign-up policy for new users. Signing up at this platform can be done with just e-mail and mobile phone which speeds up the process of buying Chainlink in a fast way.
Besides trading, Kucoin offers several other feature-rich products, including custodian wallets, crypto margin trading, lending service, and earning rewards with staking.
LINK Cryptocurrency trading pairs on Kucoin
Is Kucoin a good place to get Chainlink(LINK)? Below are the options you have to acquire LINK here:
Bitfinex: Best option for LINK Whales
BitFinex has been around for many years in the cryptocurrency space and is one of the exchanges with the highest daily trading volumes. To start trading at this exchange you have to sign up and go to a regular KYC/AML procedure first.
This online trading company is based in Hong Kong and has been operational since 2014. It gives its users the option to trade more than 100 cryptocurrencies/pairs in exchange for USD, EUR, ETH, or BTC. Depositing EURO or USD to this is exchange is currently only available by wire transfer.
Bitfinex is very popular among professional traders because of its high trading volumes and the possibility to go Long or Short. Therefore to start trading at this platform a minimal deposit of $10.000 is needed to get an account there.
LINK Cryptocurrency trading pairs on Bitfinex
Introduced in June 2012, Coinbase is one of the longest-running exchanges around today.
This reputable platform provides a wide range of crypto services trusted by millions of users across the globe. Among the long list of services this exchange provides, their brokerage service is arguably their strongest selling point to date.
Coinbase offers one of the easiest channels through which new users seek to build a strong digital portfolio. For instance, customers can buy cryptocurrencies directly from their banks through bank transfers, debit/credit card transactions, as well as SEPA transfers.
Moreover, Coinbase makes buying and selling cryptocurrencies like FIL as easy as ordering a pack of pizza.
Also, if you are a Chainlink believer and think this project has a bright future ahead then Coinbase is a good platform to buy and hold LINK here. For instance, you can automatically buy new FIL with EUR or USD by using the ‘Recurring buy’ feature(daily, weekly or monthly).
Following are the supported pairs on Coinbase for Chainlink(LINK):
Bittrex: Best option for crypto spot trading
Last in the list of best places to get Chainlink is Bittrex. Since the beginning of the crypto era, Bittrex has been around and gained much trust along the way.
Bittrex has one main service it provides which is its trading platform. The platform lists a wide variety of currencies and allows for standard spot trading orders to be executed. Particularly, I have Bittrex added to the list, because they are very reliable on the BTC spot trading pair.
The current trading engine seamlessly glues together automated trading features. For instance, stop-loss, good ’til canceled (GTC), an instant buy or sell, with all the standard technical charting tools a trader needs. Also, if you are a US resident trader, this is another good place to start trading cryptocurrency.
LINK Cryptocurrency trading pairs on Bittrex
Okex: Best exchange for Asian traders
Okex is a trading platform specialized in cryptocurrencies and has its headquarters in Beijing. Besides delivering service for Bitcoin exchanges and trades, the platform is also a payroller and lending app for retailers. Particularly, Okex is part of the bigger Okcoin consortium specialized in online futures trading.
In 2018, Okcoin migrated its futures platform with cryptocurrencies which resulted in the Okex platform. One of the big benefits of this Okcoin migration is that Okex has strong liquidity in BTC/USD and LTC/USD trading pairs.
Okcoin maintains two leading entities, whereby one has its focus on the Chinese internal market. In addition, the other entity has a broader focus aimed at the global market and has its headquarters in Hong Kong.
Okex and Okcoin together are one of the bigger cryptocurrency exchanges in the world. For instance, if you take a look at their trading volume which exceeds 4.8 billion US dollars in just 24 hours.
Important: Sign up with this link and buy $100 in LINK. Additionally, you get $15 in LINK back when trading at Okex.
All in all, if you already own some crypto like BTC or ETH you can try OKEX. It’s one of the best exchanges to buy Chainlink with cryptos.
To enumerate, Chainlink is still a blockchain project with huge potentials. Especially, as they are trying to solve the ‘single point of failure‘ problem the smart contracts on Ethereum are currently experiencing with real-world data.
Furthermore, buying crypto like Chainlink has become easier these days if you compare it with trading cryptocurrency a few years back. Especially Chainlink(LINK) should be available for anyone on the globe without any restrictions. Therefore, by showing you the best options in this guide, I hope you have given you a clear view of what Chainlink is all about and what the best places are to buy this cryptocurrency.
The following articles might also be a good read for you:
- How To Buy Chainlink(LINK) On Binance(In 5 Steps)
- Should I Invest in Chainlink(Guide 2021)
- What is the Best Way to Invest 1k in Crypto?
- What are the Benefits of Binance Trading Platform?
- Top 5 Do’s and Dont’s of Cryptocurrency Wallets
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