Are you looking to buy Chainlink or LINK token?. So, you are in the right place, I will explain, how to buy Chainlink or LINK token in three different ways.
Chainlink oracle fulfills one of the exciting features that require the defi industry therefore, LINK token takes a special place among many crypto investors.
I recommend you to use top crypto exchanges that LINK token has listed where I will include Cex.io, Binance, and Uniswap for the article. So, let’s get into the article to learn, how to buy Chainlink or LINK token,
How to buy Chainlink or LINK token – 3 methods explain?
First of all, check out, how to buy Chainlink or LINK token with a credit card and then consider the other two options,
#1. Buy Chainlink or LINK token with credit card
There are many ways to buy LINK token with a credit card but the established, trusted way is using Cex.io exchange because Cex.io is one of the best fiat( such as USD, EUR, GBP, etc.) to crypto exchange, and there are no hidden fees.
How to buy Chainlink or LINK token on Cex.io?
Here is the summary of, how to buy Chainlink or LINK token on Cex.io exchange via the 5 simple steps.
- Create a new account on Cex.io & verify it
- Add credit card & deposit USD
- Navigate LINK/USD market on Cex.io
- Buy LINK token with Limit order or Market order
- Withdraw your LINK tokens from Cex.io into your personal LINK wallet
Step 1. Create a new account on Cex.io & verify it
First, go to the Cex.io exchange, and click on the “Create Account” button on the right of the main menu. Then, fill all details and verify the email, and phone number.
After the account creation, Cex.io will ask, you to verify the Cex.io exchange account. For that, you will need a few documents such as ID card, passport, and a selfie of yourself.
Step 2. Add credit card & deposit USD
In order to add a credit or debit card, head over to “Cards” and click on the menu link. Next, select the preferred currency and click on the “Add new card” button. Then, you will direct to new page where you can add the card details.
Then, fill the above form and click the “Proceed” button where you can add any VISA or Master card.
Then, Cex.io will ask to send some verification info.
After verifying the card, you can deposit the fiat money into the Cex.io exchange account. In order to deposit, click on the “Finance” link on the main menu. Then, check out the currencies available and click the “Deposit” button under the relevant fiat currency.
In the next screen, select the payment method as “Payment card”, then, select the card and enter the CVV number and then select currency and amount on the right side of the screen. Then click the “Deposit” button, and proceed through.
After that, Cex.io will instantly add money into the your Cex.io account.
In this stage, you are ready to buy LINK token immediately.
Step 3. Buy LINK token immediately
In order to buy LINK token, click the “BUY/SELL” button on the main menu. In the next screen, select the LINK against the “Buy” label & select the currency against the “For” label. Then, select the existing amount or add the custom amount in the right side form. Then, hit the “Buy” button and go through it.
After the completing transaction, you can see the LINK balance under the “Finance” section of the main menu.
#2. Buy Chainlink or LINK token with Bitcoin
There are limited ways to buy LINK token with a credit card, in this case, you have to watch another easy way to buy LINK token. So, you can exchange Bitcoin for LINK in many exchanges such as Binance, Huobi, OKEx, etc.
In this article, I will guide step by step, how to buy Chainlink or LINK token on Binance exchange.
Still, if you don’t own some Bitcoin, Use one the following exchange to buy Bitcoin,
|Exchange||Supported Countries||Fee||Payment option||Website|
|Coinmama||Global||5%||Credit/debit card, Wire transfer||Visit|
|Bitpanda||Europe||5%||Credit/debit card, Bank transfer||Visit|
|Bitit||Global||1.5% + 1.49%||Credit/debit card,|
How to buy Chainlink or LINK token on Binance?
Do you decide to buy LINK token with Bitcoin on Binance? Here is the summary of, How to buy Chainlink or LINK token via the 3 simple steps,
- Create a new account on Binance
- Deposit Bitcoin on Binance
- Navigate LINK/BTC market
- Buy LINK token through Limit or Market order
- Withdraw LINK token from Binance to your own wallet
Step 1. Create a new account on Binance
Then, follow the further process in new account creation. I strongly recommend you to enable the 2FA authentication before starting any trade in Binance account.
If you already registered the Binance account, feel free to skip this step.
Step 2. Deposit Bitcoin on Binance
After finishing the new account creation, in default, you are in the main dashboard when the first-time login.
Next, click the “Deposit” button or hover over the “Wallet” in the main menu and click “Exchange Wallet” and then click the deposit tab.
Next screen, you will see the Bitcoin deposit address where you can use this Bitcoin address to send Bitcoin into the Binance account from your personal wallet or exchange.
First, you should log into Cex.io then, head over to the “Finance” section on the main menu. Next, you will see the crypto balance, under that, find Bitcoin, then click the “Withdraw” button then, you will direct to the BTC withdrawal page.
Next, copy the Bitcoin address from the Binance exchange and paste it on “Enter the recipient’s address” field in Cex.io then, type the amount to send and agree to terms of service. Then click the “Withdraw” button. Don’t forget to confirm the Cex.io withdrawal request in the mailbox.
You will receive the Bitcoin into your Binance account within few minutes. So, you can check the Bitcoin balance viewing the Balance section of the exchange.
Step 3. Buy LINK token on LINK/BTC market
In this step, you are ready to buy Chainlink or LINK token with Bitcoin on the Binance exchange. First, click on the “Market” on the main menu bar then, you will direct to the market page.
Default, you are in “BTC Markets” then, type “LINK or Chainlink” in the search box then, you will see LINK/BTC pair and click on it. Next, you will direct to the LINK/BTC trading interface.
Then, head over to the Buy LINK section. Binance provides three ways to buy or sell any cryptocurrency which are limit order, market order, stop-limit order. I recommend you to buy LINK using a limit order.
The default you are in Limit order tab, enter LINK exchange rate, amount and click “Buy LINK” token. You should set the LINK token exchange rate closer to the actual market rate for faster order execution.
After the order being executed, you will see the amount of LINK bought in the “My 24h order history” section.
Next, don’t forget to withdraw the LINK token into your own LINK token wallet.
#3. Buy Chainlink or LINK token with Ethereum
There are many ways to buy LINK token with Ethereum(ETH), but using a centralized exchange can be a little tricky. So take a look, how to buy LINK token on Uniswap decentralized exchange. If you don’t own the Etherem yet, buy some Ethereum from the Cex.io or LocalCryptos P2P exchange.
How to buy Chainlink or LINK token on Uniswap?
Step 1. Create Uniswap supported wallet
Currently, Uniswap supports Metamask, Coinbase Wallet, Portis, WalletConnect, Formatic, Torus. I recommend using the Metamask wallet, because it is a popular, trusted, widely used ERC 20 token supported wallet.
If you don’t know, how to create a Metamask wallet, view this article that explains, how to create a Metamask wallet step by step. After that, you have to deposit some Ethereum on it, in order to buy the LINK token on Uniswap dex.
Step 2. Connect Metamask with Uniswap exchange
Next, go to the Uniswap dex then, head over to the top right corner of the main exchange dashboard then, click the “Connect to a wallet” button.
Then, Uniswap will show you a list of supported wallets then, select & click on the relevant wallet.
Next, you should be authorized the wallet connection with Uniswap dex on your wallet dashboard. After that, you are ready to exchange ETH to LINK.
Step 3. Buy LINK token
To exchange ETH to LINK, click the “Swap” tab from three tabs then, select the input button as ETH, and you can unlock ETH by clicking the “Unlock” button near ETH ticker. Then, it should confirm on your wallet, then wait until validating the transaction on Ethereum blockchain.
Then, click on the “Select a Token” button next to the output field. Next, a new pop up screen will appear then, select the LINK token.
Then, you can adjust the amount of both ETH and LINK token. After that, If you are satisfied with the exchange rate, then, hit the “Swap” button. Then, confirm the transaction on the Metamask wallet, after that, wait for a few minutes to validate the transaction on Ethereum blockchain.
Best Chainlink wallets
Please, don’t keep your LINK token in the any exchange.
What is Chainlink – a brief overview
Chainlink is a decentralized oracle network that facilitates smart contracts to connect with real-world data, events, and payment, etc. The Chainlink network provides trusted temper-proof input & outputs for complex smart contracts on any blockchain.
As an example, any smart contract can be connected through Chainlink oracle to external API & data souses such as prices feed APIs, weather data APIs, Payment APIs, etc.
A smart contract is a digital agreement between parties, in case smart contracts require the end to end reliability. In order to, maintain the overall contract’s reliability, inputs & outputs that rely on the contracts, also, need to be extremely reliable. So, Chainlink consists of a reliable connection to external data that is provably secure end-to-end.
Chainlink attracts many crypto investors due to solid partnerships with tech giants such as Oracle, Swift, and Google cloud, etc and it closely works many blockchain projects such as Synthetix, Looprings, AAVE. Chainlink highly involves with Enterprise Ethereum Alliance where they contribute to the Eminent Task Force.
Conclusion – How to Buy Chainlink or LINK Token
Also, you will see some of the best Chainlink or LINK token wallets in order to store LINK token safely.
Also, you will learn some important information regarding the Chainlink project, use cases, the importance of investing.