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 particular 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 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 – World’s most popular cryptocurrency exchange with almost zero fees
- Kraken – US-based exchange that offers the most fiat trading pairs(AUD, EUR, USD, GBP)
- Kucoin – Cryptocurrency exchange with the most crypto holders on the platform
- Bitfinex – One of the eldest in the list and mainly targetted professional traders
- Bittrex – Reliable crypto exchange that is specialized in crypto spot trading
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 leaving 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 the 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 smartcontracts that are available in a decentralized way which removes the need for a third party and is trustless. Currently, when a smartcontract 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.
First of all, buying a cryptocurrency like LINK isn’t that hard anymore, especially if you compare it with buying cryptocurrency 5 years ago. Even though, buying Chainlink with fiat can still be a real bummer if you don’t like to give all your personal details(passport or driver’s license) upfront.
Basically, Changelly allows anonymity for its users and also acts as a bridge, narrowing the gap between users and major cryptocurrency exchanges. Because it does not require any verification, it is available worldwide with no geographical restrictions or limitations. How does it work?
It is important to realize that Changelly isn’t a platform that uses custodian wallets like Binance or Kraken to store your cryptocurrency. As a result of this, you should have a local wallet installed on your desktop or mobile phone.
- Install a multicurrency wallet like Atomic
- Go to the Changelly platform
- Choose ‘Buy’ and give the amount in fiat(USD or EUR)
- Give your country and state and choose ‘Buy LINK now’
- Choose the offer you prefer and also the way you like to pay(VISA, Mastercard, Apple Pay, or Bank transfer)
- Afterward, the crypto will be sent to your wallet instantly
If you are in a real hurry to acquire some new LINK and don’t bother much about extra fees then there are two options available. The best place to buy Chainlink depends a little on this situation. Particularly there are two scenarios: you already own some cryptocurrency or you want to buy with fiat currency.
In the first option, you already own some Bitcoin, ETH, LTC, or any other cryptocurrency. The next step is to use Changelly(platform explained above) and convert to LINK right away. This is pretty straightforward and very quick.
Moreover, and maybe even better, you already have an account at Binance or Kraken. Suppose you have some BTC at Binance, than the next thing to do would be to use the ‘Market buy’ option. You can find this in the upper menu choose ‘Trade’ and you can buy to LINK tokens right away on the LINK/BTC pair.
The second option is a little more complicated as you want to buy Chainlink with fiat currency instantly. Therefore, I would use the Changelly platform and follow the steps explained above.
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.
Notably, Chainlink is a decentralized blockchain network that operates globally. Therefore, it doesn’t really matter in which part of the world you are living as long you have working WiFi 😎. Below is a list of exchanges with a proven track record based upon the country or continent you are residing.
|Exchanges to buy Chainlink globally||Top Exchange|
|Where to buy Chainlink in US||Kraken|
|Where to buy Chainlink in the UK||CEXIO|
|Where to buy Chainlink in Canada||Binance|
|Where to buy Chainlink in Australia||Binance|
|Where to buy Chainlink in Europe||Binance|
|Where to buy Chailink in Asia||Binance|
|Where to buy Chainlink in India||Okex|
|Where to Buy Chainlink in South Africa||Instashift|
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|
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!
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
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
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 the options you have to acquire LINK here:
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
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
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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