Crypto and technology platform Chainlink is perfectly positioned to play a vital role in the wide-scale implementation of blockchain. This guide will show you how to buy Chainlink in under five minutes.
We also discuss why Chainlink could be one of the best-performing cryptocurrencies this year and what risks you need to consider before investing.
How to Buy Chainlink 2022 – Quick Guide
For the best experience when you invest in cryptocurrency, you will need to create an account at a safe trading platform that offers Chainlink at low fees.
We like eToro – as the broker is heavily regulated and you can easily buy Chainlink crypto coins in a matter of minutes via a debit/credit card or e-wallet.
See four simple steps below outlining how to buy LINK tokens right now:
- ✅Step 1: Open an Account: Visit the eToro.com website and enter your name, and email. Choose a username and password. Finally, complete the KYC process by uploading some ID when prompted. This can be a passport or driver’s license, although other documents are supported.
- 💳Step 2: Deposit Funds: Fund your account with $10 or more to get started. US traders are not charged a deposit fee. Payment methods include online banking, credit/debit cards, and wire transfers. You can also arrange a deposit via an -wallet such as PayPal, Skrill, or Neteller.
- 🔎Step 3: Search for Chainlink: Type ‘Chainlink’ into the search bar and when it appears in the list of markets, select ‘Trade’.
- 🛒Step 4: Buy Chainlink: To buy Chainlink, enter an amount of $10 or more and confirm your selection by hitting ‘Open Trade’.
When you have completed each step of this guide, you will be able to monitor the performance of your Chainlink investment with ease by logging into your eToro account and looking at your portfolio.
If you need additional information on how to buy Chainlink in the US, you’ll find a more comprehensive walkthrough later. We also explain how to cash out your Chainlink investment when you spot a profitable opportunity.
Where to Buy Chainlink
No two crypto platforms are the same, so we’ve listed and reviewed the best places to buy Chainlink below.
We look at metrics such as regulatory standing, trading fees, features, available markets, storage options, and much more. This should help you decide where to buy Chainlink crypto coins today.
1. eToro – Overall Best Place to Buy Chainlink 2022
We’ve scanned the hundreds of trading platforms offering cryptocurrencies in the US and found eToro.com to be the best and easiest to use. The eToro platform serves more than 25 million investors and traders and is fully regulated. The broker is licensed by the SEC, amongst others, whilst the eToro crypto wallet is covered by the GFSC.
You can buy Chainlink at eToro by allocating as little as $10 – because the platform supports fractional trading. The minimum deposit is also $10, and the platform is denominated in USD. As such, investors from the US are not charged a deposit fee and there is no need to factor in currency conversion.
When you buy cryptocurrency at eToro, you will be charged a small 1% commission fee. You do not need to calculate this yourself as eToro is transparent with its fees, s0 this is included in the quoted price which you can see prior to completing your trading order. There are around 60 crypto-assets listed on this platform so you won’t be short of options if you want to diversify your portfolio later on.
You will also find stocks, ETFs, index funds, and commodities. Stocks and ETFs are offered without commission to US traders. We also like that US traders have the option to buy cryptocurrencies passively. This can be achieved via the copy trading feature or professionally managed smart portfolios.
Put simply, to invest in copy trading, you will pick a seasoned investor who focuses on cryptocurrencies. Any digital currencies bought and sold by the pro will be reflected in your eToro portfolio. As such, if you invest $1,000 and the pro risks 10% on Chainlink and 10% on Bitcoin, you’ll find you have $100 of each token automatically allocated to your account.
In the case of smart portfolios, you can select a fully allocated and balanced basket of cryptocurrencies. At the time of writing, there are 12 portfolios focused on digital currencies, many of which cover DeFi coins and more. The most popular include DeFiPortfolio, CryptoPortfolio, Napoleon-X, and MetaverseLife.
There are no management fees associated with smart portfolios or copy trading. Finally, eToro offers a free cell phone app and also a paper trading account with $100k in demo funds. You can fund your account to buy Chainlink using a variety of payment types. We found this to include PayPal, Skrill, Neteller, Rapid Transfers, credit/debit cards, and wire transfers.
|Number of Cryptos||60|
|Debit Card Fee||FREE|
|Fee to Buy Chainlink||Spread + 1%|
What We Like:
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2. Crypto.com – Great Crypto Exchange to Buy Chainlink and Earn Interest
Crypto.com is another great option for anyone looking for a simple trading platform from which to buy Chainlink. Like eToro, this platform offers a safe place to buy and sell cryptocurrencies as it uses industry-standard security measures. Moreover, there are also 250 alternative cryptocurrencies, so you can diversify with ease.
This crypto platform offers a competitive commission policy. When you buy Chainlink here, you will pay up to 0.4% per transaction. If you plan on trading in higher volumes, you may be entitled to a reduction in this fee – so check the Crypto.com platform for more information.
Crypto.com offers a wallet, decentralized exchange, NFT marketplace, and also a credit card. This crypto platform allows you to buy and hold assets whilst earning interest up to 14.5%, and you can also stake digital currencies if you wish.
The minimum deposit is $10 at Crypto.com. Do note that if you were intending on buying Chainlink using your credit card, the platform will take 2.99% of the amount you deposit. On the other hand, ACH deposits come with no fees. And, best of all, ACH transfers are processed by Crypto.com instantly.
|Number of Cryptos||250+|
|Debit Card Fee||2.99% (sometimes waivered for new customers)|
|Fee to Buy Chainlink||Up to 0.40% commission|
|Minimum Deposit||$10 when using ACH|
What We Like:
Cryptoassets are a highly volatile unregulated investment product.
3. Coinbase – Good Crypto Exchange to Buy Chainlink for Beginners
Coinbase is a well-known crypto platform in the US that most traders will find easy to navigate. This beginner-friendly crypto trading platform makes it easy to buy Chainlink as it also offers step-by-step guides and a full suite of educational and learning tools.
If you settle on Coinbase when deciding where to buy Chainlink, you can download the wallet app on your cell phone. 98% of any cryptocurrencies you buy will be held safely in cold storage away from remote hacking attempts. As such, Coinbase offers a safe and secure way to buy Chainlink online.
It has to be said, although this is one of the most popular platforms for buying digital currencies, it is also one of the most expensive in this industry. For instance, a commission fee of 1.49% is taken on every buy and sell order you place. This can soon add up and eat away at your gains.
If you were looking to fund your investments with a debit card, you will be charged 3.99%, ACH on the other hand is free. A minimum deposit of $50 is recommended to get started if funding your account with Fedwire. Regarding the latter, note that a fee of $10 per transaction will be taken on all deposits. Moreover, Fedwire withdrawals command a charge of $25.
|Number of Cryptos||50+|
|Debit Card Fee||3.99%|
|Fee to Buy Chainlink||1.49% commission|
|Minimum Deposit||Depends on payment method|
What We Like:
Cryptoassets are a highly volatile unregulated investment products.
4. Binance – Popular Crypto Exchange With Low Commissions
Binance offers traders with varying levels of experience a cost economical way to buy Chainlink. On the main Binance platform, there are more than 600 crypto assets. Additionally, there is a site dedicated to US traders with over 80 cryptocurrencies and low commission fees.
Furthermore, the Binance.US 2.0 app is available for free on iPhone and Android cell phones and allows you to buy Chainlink on the go. There are various wallets to choose from to store your cryptocurrency investments.
This includes Binance Chain Wallet, but you can also transfer crypto assets between your main account and the aforementioned wallet. The most notable crypto storage option is the Trust Wallet, although you will be wholly responsible for looking after your private keys. Trading commissions are charged here and this can be up to 0.10% per transaction when you buy cryptocurrencies.
You can fund your account via ACH or wire transfer with no deposit fee. Notably, the minimum withdrawal via wire transfer is $100. If you opt for a debit/credit card to fund your crypto investments you will be charged 4.5% of the deposit amount. Moreover, debit/credit cards attract an instant purchase fee of 0.5%.
|Number of Cryptos||600+ (80 for US clients)|
|Debit Card Fee||4.5% plus 0.5% buy fee|
|Fee to Buy Ethereum||Up to 0.10% commission|
|Minimum Deposit||Depends on the payment method|
What We Like:
Cryptoassets are a highly volatile unregulated investment product.
What is Chainlink?
Chainlink is a cryptocurrency that aims to incentivize a worldwide network of computers to give trustworthy, real-world data to smart contracts built on top of blockchains. Smart contracts, for those who are unfamiliar with them, are agreements that are designed to execute if and when specific circumstances are satisfied.
Smart contracts have been utilized for a variety of purposes, including the creation of unique crypto-financial products and the development of new digital assets. However, most smart contracts must rely on some form of an external data source to correctly execute their terms, which is still a concern.
Chainlink was designed to address this problem by paying data providers, dubbed ‘oracles’, to function as a link between external data sources and blockchain smart contracts. A reputation score is granted to each oracle in the Chainlink network, incentivizing them to supply correct data.
Nodes are also compensated for following the software’s rules and providing important real-time information. Chainlink was released in 2017 and has so far been able to deliver on its objective, expanding its efforts beyond Ethereum. Chainlink 2.0 is an improved decentralized version of the technology that uses LINK as its native token.
Is Chainlink a Good Investment?
Chainlink has many real-world uses and has ranked as one of the best cryptocurrencies to buy and hold long-term on various occasions.
Before you decide whether to buy Chainlink, you should conduct plenty of research to make sure it represents a good investment for your personal goals.
To give you a head start, you can study the information we’ve included below surrounding the benefits of this cryptocurrency.
Chainlink is Bridging Gaps in the Blockchain
Smart contracts have been held back by a missing bridge between apps that facilitate smart contracts and old systems. Because of the gap, smart contracts are unable to access data stored in the present systems, preventing them from triggering execution.
Only a limited amount of data is accessible via the blockchain. Something must be done to make information transmission between legacy systems and distributed ledger technology.
This is where the Chainlink team comes in, to allow the widespread usage of smart contracts. This is one of many reasons people are opting to invest in Chainlink.
- Chainlink achieves this using APIs, with the goal of leveraging data preserved in old systems and opening up new opportunities for enterprises
- With Chainlink bridging the gap between older corporate systems and blockchain, both can prosper and coexist
- All main tokens are designed to replace traditional systems
- Realistically, legacy systems will probably be around for many years, however, Chainlink is acting as a blockchain middleware
Chainlink appears to recognize that legacy software isn’t going anywhere just yet. As such, it is focusing its efforts on integrating blockchain with existing systems rather than attempting to replace them.
Leading DeFi Organizations Have Integrated Chainlink Oracles
As we touched on, Chainlink has set itself apart from the competition in the DeFi industry, by expediting the process of resolving the main difficulties that hinder its adoption of it.
As it strives to develop this new ecosystem, Chainlink is taking impressive steps and enlisting the help of crucial alliances from huge businesses.
Just a few of the prominent organizations that have incorporated Chainlink’s oracles are listed below:
- Kyber Network
- Opium Network
- Graph Protocol
Additionally, Chainlink oracles are now being used by China’s Blockchain Service Network (BSN). The BSN is enabling corporate and government data to flow through its IRITA interchain service hub as a result of this.
Chainlink is Launching Staking in 2022
Chainlink plans to provide crypto staking for investors in 2022, allowing them to safeguard the network while also earning incentives.
- For several years, Chainlink has been working towards a staking solution
- Oracle networks are a type of decentralized computing tool, not strictly a blockchain
- Instead of creating blocks, Chainlink achieves pricing data agreement across hundreds of oracle networks
- The Chainlink team is finally satisfied with the consensus mechanism’s scalability and, as we mentioned, staking will begin in 2022
As such, if you familiarize yourself with how to buy LINK tokens now, you can reap the benefits of earning additional crypto coins through staking.
Chainlink Boasts a Strong Network and Key Collaborations
When asking yourself whether Chainlink is a good investment, consider the fact that world-renowned technology companies have chosen to use the network’s services.
The right collaborations can skyrocket the growth of a cryptocurrency. Companies like SWIFT and Google work with Chainlink.
To explain further:
- Google will construct hybrid cloud and blockchain apps using Google Cloud and Chainlink oracles
- Another company related to Chainlink is SWIFT, the world’s largest electronic payment communications system
- Chainlink has numerous other partnerships including Matic Network, Reserve, Binance, BetProtocol, Chilliz Blockchain, Ethereum Classic, and more
Much of Chainlink’s previous price growth has been a result of partnership announcements.
For instance, when the collaboration with Google Cloud was announced in June 2020, the price of Chainlink surged by around 50% within just 48 hours of trading.
As such, when you invest in Chainlink, keep an eye out for partnership announcements so that you can try to gauge price action.
Chainlink Price is Experiencing Another Growth Spurt
Whilst cryptocurrencies are speculative assets and the value of a token will fluctuate, the price of Chainlink seems to be growing. To further explain, Chainlink is nowhere near its all-time highest value and entered 2022 on a bearish note.
However many market analysts believe that Chainlink is going through another period of growth and could reach heights of $65 by 2023.
As such, if you learn how to buy Chainlink now, you could make some impressive gains later. We talk about the price action of this digital currency in a bit more detail shortly.
Risk of Buying Chainlink
It is vital that prior to allocating any funds to cryptocurrency trading you are fully aware of the risks involved. To give you an idea of the potential pitfalls of opting to buy Chainlink – read on.
Cryptocurrencies are Volatile Assets to Trade
As we’ve touched on, cryptocurrencies are volatile. And as such, the price of Chainlink and your investment can fluctuate sharply.
- A good example of this digital currency’s volatility was witnessed in May 2021
- The token was trading at $42 on the 18th of May
- By the 20th of May, it had plummeted to $20 – which displays a sharp decrease of 52% in about 48 hours
As such, price fluctuations are a big risk to be mindful of before you elect to buy Chainlink.
Choosing the Wrong Platform to Buy Chainlink
When you buy Chainlink, make sure you research potential trading platforms properly. Some cryptocurrency platforms are unregulated spaces which can leave your investments vulnerable to hackers.
The best way to buy Chainlink is at a regulated platform like the aforementioned eToro. The broker offers a crypto wallet to keep your tokens safe – and this is licensed by the GFSC.
The broker also supports fractional trading. This means you can allocate just $10 to buy Chainlink, and even invest in Bitcoin, which is trading for thousands of dollars at the time of writing.
At the time of writing, the Chainlink price is $17.62, with a trading volume of $626,263,900 in the last 24 hours. There are 467,009,550 Chainlink tokens in circulation.
The maximum supply of Chainlink is one billion tokens. The market cap of Chainlink is around $8.2 billion as of writing, which places it in the top 25 cryptocurrencies.
Although these figures will change with every passing moment due to the nature of supply and demand, the data should give you an idea of what stage the cryptocurrency is at.
When this cryptocurrency made its debut, you could buy Chainlink for $0.16 per token. If you had elected to buy Chainlink in 2017, you would be looking at gains of over 10,000%, based on its price at the time of writing.
Chainlink reached its all-time high in September 2021 when it hit a value of $52 per token. That’s around 32,000% higher than its entry price. Chainlink is on the rise again at the time of writing, albeit at a much lower price than its prior all-time high.
Chainlink Price Prediction
Price predictions on cryptocurrencies should be taken with a pinch of salt – as digital currencies are highly speculative assets. With that said, if market analysts’ predictions are correct in the longer term, you might look to invest in Chainlink now.
After all, it’s trading at a cheap price compared to its previous highs. According to many market commentators, the future is bright for this cryptocurrency. We wrote a Chainlink price forecast on this site.
When you buy Chainlink, you are not just buying a meme token – as it solves Oracle problems and bridges the gap between external sources and smart contracts.
As we mentioned, the underlying Chainlink technology is also used by well-known platforms like Google Cloud. Moreover, high-profile partnerships usually help a cryptocurrency gain popularity, and Chainlink has plenty in the pipeline.
This should aid its growth even further. To give you a better idea of where Chainlink may be in the future, you could opt to subscribe to relevant news services. You might also follow pro cryptocurrency traders on eToro, and learn how to carry out technical analysis.
In June 2022 it was announced Chainlink will be incorporated into Solana which caused an 18% bullish price move to the upside – that could signal the bottom is in and LINK is ready to start a new uptrend.
Ways of Buying Chainlink
There are many ways to purchase crypto assets and your preference will likely play a part in where you decide to buy Chainlink.
If you are unsure, you can check out the list below to see common ways to buy Chainlink online in 2022.
Buy Chainlink With PayPal
If you wish to buy Chainlink using a PayPal account, you’ll need to ensure the crypto trading platform supports this e-wallet – as not many do.
- At Crypto.com, you can buy Chainlink with PayPal via its proprietory debit card
- This entails completing the transfer and then sending the funds from your Crypto.com debit card to your exchange account
- The fee for this transaction is 2.1%
At eToro, you can make a deposit using PayPal at no extra charge. This is under the provision that your PayPal account is denominated in US dollars. You can get started from just $10.
Buy Chainlink With Credit Card or Debit Card
Provided the broker you choose supports credit/debit cards, you can buy Chainlink using this method for a quick and convenient purchase. The platforms we have reviewed for the purpose of this guide accept most major credit/debit cards.
You should, however, look out for fees.
See some examples below:
- Binance charges 4.5% in addition to the 0.5% instant buy/sell fee on all credit/debit card deposits
- Coinbase charges a fee of near;y 4% on all credit/debit card transactions
- Crypto.com charges US clients 2.99% on all transactions made with the same deposit method
In contrast, if when deciding where to buy Chainlink, you land on eToro, you will pay 0% on all deposit methods when purchasing cryptocurrencies in the US.
Best Chainlink Wallet
Depending on the type, crypto wallets keep your private keys, which are the passwords that grant you access to your investments, secure. You can send and receive cryptocurrencies like Chainlink, Ethereum, and Bitcoin using your crypto wallet of choice.
Crypto wallets exist in a variety of shapes and sizes, which includes:
- Hardware wallets
- Desktop software
- Cell phone apps
- Web wallets at online broker platforms
Chainlink is supported by a wide number of crypto wallets because it’s built on the Ethereum network. As such, when you have familiarized yourself with how to buy Chainlink crypto coins – you can take your pick.
With this in mind, you might find the following list of best crypto wallets helpful:
- Ledger Nano X: This is a hardware wallet that supports over 1,500 crypto-assets. Before you think about this crypto wallet, note that it can cost between $60 and $400 depending on the model and might be better suited to long-term investors with a huge allocation of tokens.
- Coinbase Wallet: This is a safe and secure standalone app wallet. However, you will be charged a commission fee of 1.49% per trade when you buy Chainlink here.
- Crypto.com DeFi Wallet: This wallet is non-custodial, so will see you taking control of your own private keys. As such, this might not be good for newbies.
- Trust Wallet: This wallet, which is backed by prominent cryptocurrency exchange Binance, is available to download for free via iOS and Android devices. Be aware of fake Trust Wallet apps, and do note that this wallet is not available for desktop devices.
One of the easiest ways to buy Chainlink is at eToro. If you trade via the main platform, you don’t need to worry about keeping private keys safe or downloading any hardware or apps.
Alternatively, the Chainlink wallet app for iOS and Android offered by eToro is licensed by the GFSC. This allows you to buy Chainlink and exchange more than 500 pairs.
Unlike some crypto platforms, there is also a service available for traders who lose their private keys.
The Chainlink wallet offered by eToro also includes security measures such as standardization protocols and DDoS protection. The eToro wallet will be linked to your main account – which also allows you to buy and sell cryptocurrencies in exchange for USD on a 24/7 basis.
How to Buy Chainlink – Tutorial
The chances are, you are now fully clued up on this digital currency and ready to place an order to buy Chainlink.
We are going to detail how to sign up with eToro, a broker that is regulated and can execute your trading orders quickly and with low fees.
Step 1: Open an eToro Crypto Account
Open an account at the top trading platform eToro by signing up at the official website.
Enter the following information to register:
- First and last name
- Chosen username
- Secure password
- Date of birth
Next, you will receive a code on your cell phone, simply enter this when prompted by eToro.
Step 2: Upload ID
Now you can upload your valid photo ID so that eToro is able to verify who you are and create a fully functioning portfolio for you. You can get started by adding your passport, a state ID, or an unexpired driver’s license.
eToro will also require a copy of a recent bank statement sent to your address. You might also opt for a recently issued water, gas, electricity, or internet bill, or a credit card statement.
See the eToro website itself for more options.
Step 3: Deposit Funds
Next, select the button marked ‘Deposit Funds’. Payment methods comprise e-wallets such as PayPal, Neteller, and Skrill. There is also the option to make a deposit via Rapid Transfer, online banking, and credit/debit cards.
As a US client, you won’t need to pay a fee when making a deposit. Furthermore, you can fund your crypto trading account with as little as $10 to buy Chainlink.
Step 4: Search for Chainlink
eToro is super easy to use, even if you’ve never traded before. There are thousands of markets listed at this brokerage, so to locate Chainlink you can begin to type it into the search bar.
When the drop-down list of assets populates, you can click ‘Trade’ next to the correct asset. This notifies eToro that you wish to place an order to buy Chainlink.
Step 5: Buy Chainlink
You can buy Chainlink by risking as little as $10, regardless of its price at the time of placing your order. As we said, eToro is able to facilitate fractional crypto investing.
Here, we are allocating $10 to Chainlink tokens. Enter a stake of $10 or more in the ‘Amount’ box to add LINK to your portfolio straight away.
How to Sell Chainlink
In choosing eToro to make your original investment, when it’s time to sell Chainlink tokens, the process is quick and easy.
- Log into your eToro trading account by entering your username and password
- Next, you can click on the button marked ‘Portfolio’ to view all of your invested markets
- Look for Chainlink and click the button that is marked with a cogwheel symbol
- Select ‘Close’ from the drop-down list
- Finally, click the red ‘X’ beside your Chainlink tokens
At this point, eToro will buy Chainlink back from you at the best market price and will add the proceeds to your available balance. You can view your available equity in your portfolio.
Do note that eToro also allows you to close just part of the trade. As such, if you only want to sell some of the Chainlink tokens you purchased, you can click the button featuring the cogwheel instead of the aforementioned red ‘X’.
Then, simply select the box that says ‘Close only part of trade’ and enter the US dollar amount you want to sell.
It’s easy to buy Chainlink online – even if you have little to no experience with crypto. With that said, cryptocurrencies are highly volatile and you will need to carry out thorough research prior to investing in such a speculative asset.
In summary, we’ve talked about the benefits of opting to buy Chainlink, as well as the various crypto wallet options to consider, and the best platforms for US traders to invest through.
We like eToro – as it’s easy to use, offers super low commissions on cryptocurrencies, and is regulated. There are also lots of payment options and US clients pay no deposit fees. Additionally, you can buy a fraction of Chainlink with just $10.
eToro - Regulated Crypto Platform
- Copy Trading Tools - 30.4% ROI Last Year
- Free Demo Account, Crypto Wallet
- Open to US & Worldwide - Accepts Paypal
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