How to buy Chainlink Coin online

Chainlink is already well established as a link between the blockchain and external data sources. Find out why it’s so important to decentralised finance and why it’s been able to link up with Google.

This beginner’s guide is an introduction to the LINK token. Learn why it plays such a big role in Chainlink’s process and where you can go to buy some.

Tip: our preferred broker is, eToro: visit & create account

Compare where to buy Chainlink, and open an account

If you want to buy LINK coins straight away, the brokers below are some of the best platforms to use. If you don’t want to dive straight in, don’t worry. Keep reading to learn more about how it all works.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
FOREX.com
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Min Deposit
$50
United States
Start Trading View key features
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated jurisdictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
LonghornFX
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Min Deposit
$10
United States
Start Trading View key features
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.

Chainlink is a bridge that links blockchain platforms to real world data. Contracts created on the blockchain often rely on up to date information, like stock market prices or exchange rates, and Chainlink uses a network of individuals to source it. The LINK cryptocurrency is used to pay for this data and as a reward to those who provide it.

The blockchain features a lot of ‘smart contracts’: binding contracts that are triggered by a certain condition. An example might be a contract to sell a stock if it’s price hits £100. For this to work, the stock price data needs to be accurate at all times, which is where Chainlink comes in.

Formed in 2017, it’s already widely used in the realm of decentralised finance. Two leading platforms, Yearn Finance and AAVE, were early adopters. As was Google, which uses it to create crypto data sets.

Chainlink works by using groups of individuals instead of a central search engine. These users are known as ‘oracles’, and put up their computer power to respond to a data request as soon as it’s made. They stake LINK as collateral on the reliability of the information and assuming it meets expectations, they’re paid a fee.

The whole process involves a series of contracts stored on Chainlink’s own blockchain, and at the end each oracle is given a rating based on how well it met the brief. The higher score, the better, and as only the ones with the top scores are chosen for future searches, it incentivises the best possible performance.

Exchanges are usually the best place to buy cryptocurrency. The right one for you depends on your level of experience, your time frame, and what sort of coins you want to buy. The range of coins available can vary quite significantly between exchanges, for example. Whatever your needs, two of the top exchanges worth looking at are:

  • Binance: The top exchange by market volume, you can trade hundreds of different cryptocurrencies on Binance. It now offers a lite version of its app for beginners. Sign up with Binance >
  • BitPanda: BitPanda lets you buy and sell a range of cryptos with fiat currency. It’s ideal for beginners thanks to an interface that’s very simple to use. Join BitPanda now >

Step 2. Sign up and fund your account

Before you can start trading you need to set up an account. Keep contact details and a form of photo ID to hand and it should be a quick and easy process. 

Some exchanges accept deposits in fiat currency (like GBP, USD, or EUR), while others only accept cryptocurrency to fund the account.

To buy any coin you need to search for its ticker symbol on your chosen exchange. In this case, the ticker is LINK. If you’re using USD to buy it, look for the LINK/USD pair and execute the trade.

Step 4. (Optional) Get a suitable wallet

The best place to store your new coins is in a cryptocurrency wallet. Wallets are a way of keeping your coins secure by protecting them with a private key that only you know. There are different wallets available depending on the level of security you’re looking for, but a couple of the top ones around are:

  • BitLox: BitLox is a hardware wallet with extensive security features, including multiple pins to access your coins and validate new transactions. Join BitLox now >
  • Ledger Nano S: Another hardware wallet, the Ledger Nano S is like a USB stick that stores your coins. You can connect it to your computer with a cable, but the coins remain safe even if the PC is infected. Get the Ledger Nano S today >
Binance
Key Features
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Min Deposit
$1
United States
Start Trading View key features
Key Features
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Top Coins
  • DOGE
  • THETA
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Step 1. Find a broker

To trade a cryptocurrency you want to find a reliable broker with no (or low) trading fees. A key aspect of trading is opening and closing a lot of positions quickly, and you don’t want to be restricted on how much you can trade, or pay through the nose for every one.

You might not be able to find Chainlink on many brokerages at the moment but eToro and Robinhood are two of the first places to try.

Step 2. Deposit money

You have to use fiat currency to fund a broker account. You might also be charged a fee to do this, as many brokers charge for deposits as well as withdrawals.

Step 3. Decide how you’d like to trade

The most common way to trade cryptocurrency is using CFDs. These are contracts for difference, and a way of betting on the price of a coin without owning it outright. You can use CFDs for other assets as well, it’s particularly popular as a way for retail investors to trade stocks, and as such you’re able to do it on all the top broker platforms.

Step 4. Start trading 

Before you start trading for real it might be worth considering a demo account. You can usually access this feature in the settings of your broker account and it’s a way of trading the market with fake money, rather than putting your own capital at risk.

Demo accounts can be a good way for beginners to get to grips with the market and understand how it all works. You can learn when to take a long (buy) position on a coin and when it’s best to short (sell) it.

There are other trading strategies available once you gather more experience. The most popular is trading with leverage, which is when you put up a small portion of the overall trade value as a deposit. You borrow the rest from your broker to make a bigger trade than you could otherwise afford. Be warned though, you can see big losses using this strategy just as easily as big wins.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Still undecided?

Don’t worry if you can’t make up your mind. Below is a summary of some pros and cons of investing, followed by some more questions to help you decide.

Pros

  • It plays a vital connecting role in the blockchain network to the outside world
  • It’s already used by established companies both inside and outside the blockchain
  • The LINK token is a vital part of how the system works, so it should always be in demand

Cons

  • Could be vulnerable to new competition springing up

Finally, these are three more questions to think about before you invest in Chainlink.

It depends on whether you’re in for the long haul or just looking to trade it quickly to try to make a quick profit. If you’re positive about its prospects and have a long term vision, it may well be a good time to buy.

As for short term traders, there are a few more factors at play. You should consider the current price and whether it looks like a good opportunity, and think about using some tools and charts to predict how that price is likely to move. Here is some of our own market analysis to help you:

Chainlink (LINK) price has extended its bullish run above the $40 mark this week as institutional investors, such as Graph Blockchain, continued to invest in popular digital assets. Fundamental analysis: Graph Blockchain allocates $500,000 into LINK Graph Blockchain Inc. has announced it has deployed the final tranche into Chainlink’s…
Chainlink’s (LINK) price has advanced from $11.10 above $36 since the beginning of January 2021, and the current price stands around $27. The main trend of this cryptocurrency remains bullish, and for now, there is no risk of a trend reversal. Fundamental analysis: Grayscale added Chainlink to its large-cap…
Chainlink (LINK) price recorded losses of over 21% in December but it has already managed to erase these losses in the first three days of trading in January.  Fundamental analysis: Utilization on Matic apps Chainlink published a new report on how its oracles can be utilized in Matic…

Chainlink solves the problems of blockchain networks being unable to access accurate real world data. It acts as a bridge between the two, and uses a mass of individuals rather than a central body so there is no single point of weakness in its system.

If the amount of blockchain networks continues to grow, Chainlink is well placed to benefit. As long as smart contracts exist and there’s demand for a link to the real world, there is going to be demand for its services. Plus it’s already established and has partnerships both within decentralised finance and with Google in the outside world.

Despite those positives, it’s always important to do your research before you make an investment. Cryptocurrency tends to move quickly, with new developments being introduced all the time. Use our latest news section below to keep up to speed:

eToro has announced the launch of Uniswap (UNI) and Chainlink (LINK) for trading on its platform. Doron Rosenblum, Vice President of Business Solutions at eToro, confirmed the announcement via a LinkedIn post. According to eToro, the social investment network wants to provide additional options for its users to…
World’s largest investment fund Grayscale announced that it has replaced XRP and added Chainlink (LINK) to its Digital Large Cap Fund (GDLC). Recently, Grayscale announced that it wants to change the GBTC Bitcoin trust into an exchange-traded fund (ETF). As a result, it has decided to completely drop…
Arbitrum Rollup Testnet is a fully-featured Optimistic Rollup layer 2 network, which allows the creation of smart contracts at a low cost, as well as high scalability of the network. As such, it has been attracting a lot of attention recently, and the number of projects building on it…

You can use Chainlink as an investment in ‘the blockchain’ as a whole, in which case it might be a good idea to hold for the long term. But the answer ultimately depends on what sort of investor you are, and we have some final tips here whether you’re in it for the long or short term.

Considerations for a long term investment strategy

If you want to hold some coins for the long term as you expect them to increase in value, the best thing to do is choose an exchange and buy them straight away. You can then think about getting a wallet to store your new coins in.

Considerations for a short term trading strategy

If you want to make lots of trades quickly to try to make a small profit each time, you want to think about picking a broker that offers CFD trading. Think about working on your technical analysis skills to learn how to predict market moves.

Written by: James Knight
James joined us in 2021 and comes with years of experience as a writer and content creator. Alongside a passion for finance, sports, and technology, James is a historian on a desperate quest to shoot under par.