Chainlink is a network aimed at connecting data sources to blockchain protocols. The Ethereum-based project has since drawn investor attention, and several crypto enthusiasts are eager to buy Chainlink.
This guide will explore what the Chainlink project is all about and the best cryptocurrency exchanges to buy this popular altcoin asset for low fees.
How to Buy Chainlink in 2022
If you want to learn how to buy LINK coin on our recommended crypto broker eToro, follow the quick steps below:
- Open an account with eToro - Navigate to the eToro website and click on ‘Join Now’ to open the registration portal. Fill in the required details and click on ‘Create Account’ to proceed.
- Verify account - Submit a snapshot of your driver’s license and utility bill to verify your account.
- Deposit - Fund your account with an initial minimum deposit of $10 through a bank wire transfer, credit/debit card, and e-wallet solutions.
- Buy Chainlink - Type ‘LINK’ into the search bar and click ‘Trade’ on the relevant popup result. Insert how much link you want to buy and click on ‘Open Trade’ to complete the process.
Where to Buy Chainlink - Top Exchanges Reviewed
If you are wondering where to buy Chainlink, then these platforms rated amongst the best crypto exchanges can get you started.
1. eToro - Overall Best Place to Buy Chainlink
eToro ranks as our number destination to buy Chainlink for beginners and advanced crypto investors. Founded in 2007 by David Ring and the Assai brothers, eToro is a one-stop-shop for all financial investment services.
Further boosting its appeal, eToro offers CopyTrader functionality which allows new investors to generate good returns from their invested capital by mirroring the successful trades of more advanced investors in return for a nominal fee.
eToro is fully regulated by the UK’s Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Financial Industry Regulatory Authority (FINRA).
Initial first deposits largely depend on the investor’s country of residence. US and UK investors can get started with as little as $10.
Users can easily fund their trading account through a bank wire transfer, credit/debit card, PayPal, Skrill, Neteller, and several others. eToro offers zero deposit and maintenance fees. However, you will be charged $5 for withdrawals. Users can also tap on the eToro Crypto wallet to serve as their Chainlink wallet.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2. Binance - Best Platform to Buy LINK Coin
Binance is another top crypto exchange you can tap to buy Chainlink. Founded in 2017, Binance has since established itself as the world’s largest crypto exchange by trading volume with a minimum of $65 billion traded daily.
On the platform, investors are treated to a wide array of cryptocurrencies above 500 and can easily turn to the Binance Earn platform to generate passive income from their crypto holdings. Trading fees are pegged at a low of 0.10%, and this can be reduced further to 0.025% if a user owns the native token Binance Coin.
Binance is not regulated by any global body but undertakes a strict know-your-customer (KYC) process that requires users to submit a snapshot of their driver’s license or government-issued ID card. New users also need to complete a face verification process.
The minimum deposit on Binance is pegged at $10, and deposits can be made through a bank wire transfer, debit card, and peer-to-peer (P2P). Debit card transactions are charged 3.9%.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
3. Coinbase - Top Platform to Buy Chainlink for Beginners
If you are on the hunt for a beginner-friendly platform to buy Chainlink, then Coinbase should fit the bill. Coinbase is on a mission to simplify the crypto purchasing process for beginners. The platform provides access to rich educational materials geared toward teaching crypto newbies how to buy, sell, and exchange cryptocurrencies.
Coinbase offers a more advanced Pro platform that comes with more sophisticated trading tools. Users can also tap on the Coinbase wallet to serve as their Chainlink wallet and perform other functions. Coinbase has an extremely low initial deposit, and users can get started with as little as $2.
Deposits can be made with the automated clearing house (ACH), debit card, Google Pay, and ApplePay. Tapping on the debit card option could see you pay 3.99% in fees for instant deposit.
Coinbase is regulated by the Financial Crimes Enforcement Network (FinCEN) and the UK’s FCA.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
What is Chainlink?
You may be wondering, ‘what is Chainlink crypto?’ but before we answer that, we will discuss what the Chainlink protocol is all about.
Chainlink is a decentralised oracle network that aims to make it easy for any blockchain protocol to access external data sources.
Before its launch in 2019, blockchain protocols were siloed and segmented. Although this brought about the security and integrity of the networks, there was a shortage of the amount of data these blockchain protocols could access at any one time. Chainlink seeks to solve this challenge by serving as a bridge between these siloed protocols and real-world data.
Is Chainlink a Good Investment?
Below are some reasons you should buy Chainlink for a bargain now as the broader crypto market consolidates.
- Premier Decentralised Oracle Network
Chainlink has made it possible for all smart contract protocols to easily gather data from off-chain sources without trading off their security and network integrity. This has largely seen Chainlink integrating with several top-performing protocols in the decentralised finance (DeFi) ecosystem.
- No Single Point of Failure
Chainlink’s smart contract capability and decentralised nodes make it possible for the network to continue delivering verifiable and genuine off-chain data even when a data provider is compromised. This is crucial in a blockchain-driven ecosystem where data integrity is key to success.
- Chainlink 2.0
Chainlink is building off its successes and is currently working on providing more decentralised data for blockchain protocols. This is according to a Chainlink 2.0 whitepaper released in April 2021. This upgrade will see Chainlink build off-chain networks on oracles to handle some of the heavy computational liftings on the Ethereum network and make transactions cheaper and more affordable for the average user.
How to Buy Chainlink - Tutorial
Follow these detailed steps below to buy Chainlink on eToro.
1. Open an account with eToro
Head over to the eToro platform and click on ‘Join Now’ to access the registration page. Fill in your full name, email address, username, mobile number, and password. Click on ‘Create Account’ once you are done.
2. Verify Account
Submit a snapshot of your driver’s license or official passport and another copy of your recent utility bill or bank statement to verify your account.
3. Deposit
You can buy Chainlink with credit card, debit card or bank transfer. However, you will need to first deposit a minimum of just $10 if you reside in the US or UK. Click on ‘Deposit Funds’ and insert how much you want to deposit. Then select a payment method and click on ‘Deposit’ to finish the process.
4. Search for LINK
Type’ LINK’ into the search bar and click on the first popup result that appears.
5. Buy Chainlink
Click on the ‘Trade’ button to open the order page. Insert how much LINK coin you want to buy and click on ‘Open Trade’ to complete the process.
Best Chainlink Wallet
Cryptocurrencies, like all assets, need a place to be stored safely. This is what crypto wallets like eToro Money Wallet does. These smartphone applications help users store their crypto funds safely from malicious attacks.
The free eToro crypto wallet supports over 120 cryptocurrencies and is our pick for the best Chainlink wallet. It comes with support for over 500 crypto trading pairs. You can also execute crypto trades directly from your wallet.
eToro Money Wallet is regulated by the Guernsey Financial Services Commission (GFSC) and comes with a password recovery service to help retrieve your private key in the event of a loss.
Conclusion
Chainlink is a promising project and comes with a strong value proposition. Given its designation as the premier decentralised oracle network (DON) in the crypto space, several investors are eager to buy Chainlink.
eToro still remains our top crypto broker to buy Chainlink and you can easily utilise the CopyTrader functionality to make profit while copying more sophisticated investors.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Disclaimer:
The above content is non-editorial, and BCCL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Crypto/NFTs are unregulated, highly risky, and there may be no regulatory recourse for any loss from such transactions. Readers to exercise caution/due diligence, and comply with all applicable laws, including but not limited to taxation laws. Above content does not constitute investment advice nor promotes, suggests or presents Crypto/NFTs to solve financial difficulties/achieve financial security/act as an alternative to employment/income opportunity.
Disclaimer: Content Produced by CryptoPR
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