How to Buy Chainlink (LINK)

Contributor, Benzinga

Want to jump straight to the answer? You can buy LINK on SoFi!

Chainlink connects smart contracts on blockchain networks. These networks can include data providers, web APIs, enterprise systems, cloud services, IoT devices, payments systems and other blockchains. 

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Blockchain networks are highly secure and reliable. But they lack the ability to fetch external data or send data to off-chain systems. Chainlink connects smart contracts to real-world information, payments and events such as medical data, weather data, sports data, shipping data and asset prices. 

As a more recent addition to the blockchain network, Chainlink has several rich features:

  • End-to-end decentralization: Chainlink uses decentralized oracle networks made up of independent and Sybil-resistant nodes to prevent data manipulation. It also helps to maintain high availability of the cryptocurrency.   
  • Secure nodes: With Chainlink, every piece of data is digitally signed by nodes and stored on-chain. It also provides cryptographic proof of the oracle networks’ overall security. 
  • High-quality data: You can access any password-protected or authenticated API data source on Chainlink. This process can prevent redundant validation by multiple nodes for any single point of failure. 
  • Crypto-economic security: Chainlink lets you leverage binding service agreements outlining the terms of an oracle service with monetary penalties for poor results. 
  • Defense in depth: You can apply multiple layers of security such as cryptographic signatures, trusted execution environments, zero-knowledge proofs and more. 
  • Open-source community: Chainlink has a thriving open community of node operators, developers, researchers and security auditors. It improves network security and accelerates development through frequent contributions.   
  • Blockchain agnostic: Chainlink connects to all leading public and private blockchain environments from a single framework. It also provides a universal abstraction level for cross-network connectivity. 

Due to these robust features, Chainlink provides enterprises and governments with numerous ways to leverage the benefits of blockchain technology. The ease of use and its functionality make Chainlink an attractive investment opportunity for cryptocurrency traders. 

  1. Open an account.

    Are you interested in learning how to trade Chainlink? Before you begin trading cryptocurrencies, you’ll need to sign-up for an account with an online broker. There are several cryptocurrency brokers available online. 

    Make sure the broker you sign up with has Chainlink listed on its exchange. The commission charged by the brokers can vary based on the type of cryptocurrency you want to trade. Compare the commission fees and the minimum balance needed to open an account to help you pick the broker that matches your financial goals. 

    Take a look at the top cryptocurrency brokers on the market. 

  2. Buy a Wallet (optional)

    As an emerging platform, trading cryptocurrencies can be a risky investment. The completely online experience of trading digital currencies can leave you prone to cyber-attacks. You should consider buying an e-wallet to help you secure your digital assets. 

    A cryptocurrency wallet or an e-wallet can store all of your private and public keys in a secure location. There are several types of e-wallets including desktop, web, mobile, paper and hardware. Based on your trading tactics, you can choose the digital wallet that fits your portfolio.  

  3. Make Your Purchase

    Once you’ve purchased a digital wallet, you can transfer funds to your account to start trading. Most digital wallets accept credit cards and wire transfers to fund your account. Chainlink is available for trading on major cryptocurrency exchanges such as Binance and Coinbase. 

    The varying commission rates on cryptocurrency brokers can be decisive for successful trading. Many cryptocurrency exchanges will offer a low commission fee of less than 1%. Be sure to evaluate the minimum balance required on the platform to start trading. 

    You can buy Chainlink tokens by browsing through the listed cryptocurrencies on the platform. You can select the number of tokens you want to purchase and click on the buy button to complete the transaction. The Chainlink tokens you’ve bought should reflect in your account shortly after your buy order is executed. 

These are a few of the crypto exchanges that support LINK.

Coinbase

Founded in 2012, Coinbase is an online broker designed to make cryptocurrency accessible to anyone, anywhere. It serves 35 million verified users in over 100 countries and is a catalyst for creating an open financial system around the world. Coinbase has total assets worth $25 billion and a combined volume of $320 billion traded on the platform. 

You can create your crypto portfolio within minutes on Coinbase. The online platform lets you buy and sell popular digital currencies such as Bitcoin, Ethereum, Chainlink and Monero. Its simple interface enables you to manage your account and schedule trades on a daily, weekly or monthly basis. Coinbase also has an app available on Apple and Android devices. 

earn free crypto securely through Coinbase’s website
Best For
Coinbase Learn
N/A
1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For
  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros
  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
  • Higher fees than competitors

Gemini

You can buy, sell, and store your bitcoin and crypto with Gemini. Gemini’s products set the standard for security, compliance, experience, and investor protection and include a mobile app, web exchange, Gemini ActiveTrader platform, Gemini Wallet and more:

  • Gemini Clearing: Acts as a confirming third party in prearranged transactions and helps ensure timely settlement while mitigating risk.
  • Gemini Custody: Stores and manages your digital assets using the most secure, compliant and user-friendly custody solution on the market.
  • Gemini dollar: The world’s first regulated stablecoin designed for scalability and usability in all kinds of transactions. Gemini dollar (GUSD) brings the value of the U.S. dollar into the modern digital era.
  • Gemini Pay: Can pay for everyday purchases using Gemini Pay.
Invest In Crypto securely through Gemini Crypto’s website
Best For
New Investors
N/A
1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For
  • New investors looking for a simple mobile and web app
  • Day traders looking to use technical analysis tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their cryptos
Pros
  • Easy and quick signups — can get started in as little as a 5 minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts
Cons
  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app

You can choose between a hardware wallet and software wallet.

Best for Hardware: KeepKey

KeepKey is a pioneer in manufacturing highly secure digital wallets. Its range of products can help you protect your cryptocurrencies and store all your private keys offline. KeepKey wallets give you protection against unauthorized use and passphrase protection. It also has customizable transaction speeds and limitless wallet addresses on a single device. 

It supports more than 40 leading cryptocurrencies that include Chainlink, Dash, Dogecoin and Bitcoin. With KeepKey, you can backup and restore your keys at any moment. It also features a large display to give you clarity over every digital asset sent and received on your device. 

Get started securely through KeepKey’s website

Best Software Wallet: Coinbase

Coinbase is an online broker widely used to trade cryptocurrencies. It has a web wallet that lets you buy, sell and store cryptocurrencies. It supports many cryptocurrencies such as Bitcoin, Ethereum and Chainlink. Your wallet is protected with Secure Enclave and biometric authentication technology. 

It lets you use decentralized cryptocurrency exchanges to buy and sell tokens anywhere, anytime. You can also earn cryptocurrencies by doing tasks and contributing to the Coinbase community. Coinbase wallets feature an extensive collection of digital art that you can unlock to use on your profile and marketplaces. 

earn free crypto securely through Coinbase’s website
Best For
Coinbase Learn
N/A
1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For
  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros
  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
  • Higher fees than competitors

Trade or Sell Your Chainlink

Chainlink has had rapid price movements compared to other cryptocurrencies this year. The price of a Chainlink token had risen by 1,000% at the start of 2020. The price gradually reduced over the following months.

The price of a Chainlink token rose by 10% in October 2020 and started trading above $10 per token. The positive price movement came weeks after Chainlink was trading at $7.2 in September 2020. According to market forecasts, the price of Chainlink can go up by a massive 33% in the coming months and reach a target of $18 per token.  

If you’re new to trading Chainlinks, it could potentially be the right time for you to invest and earn big profits.

Current Crypto Prices

Chainlink has more than 395 tokens in circulation and trades more than 1.1 billion tokens per day. Take a look at our table for current crypto prices.

The steady growth of Chainlink has urged eager crypto traders to invest. Don’t miss your chance to grow your digital assets by putting your money behind Chainlink.

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