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.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed,… read more.
Updated: May 12, 2021

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 find some.

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

Compare where to buy Chainlink, and open an account

If you want to go ahead and buy right away, the brokers below are some of the best platforms to use. If you want to take your time to make a considered decision, read on to learn more about how it all works.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
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
Start Trading
Description:
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.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$20
Exclusive promotion
user-score
9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full regulations list:
3
Min. Deposit
$10
Exclusive promotion
user-score
8.7
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
Start Trading
Description:
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.
Payment Methods
Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

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.

Step 1. Find an exchange

Exchanges are usually the best place to find cryptocurrency. The right one for you depends on your level of experience, your time frame, and the sort of coins you’re interested in. What’s available can vary quite significantly between exchanges, but they are some of the best places to buy LINK coins. 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 accepts fiat currency and offers quite a wide range of tokens. 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.

Step 3. Purchase

To find any coin you need to search for its ticker symbol on your chosen exchange. In this case, the ticker is LINK. If your account is funded with USD, look for the LINK/USD pair to 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 >
1
Min. Deposit
$1
Exclusive promotion
user-score
10
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
Start Trading
Payment Methods:
Cryptocurrencies
Full Regulations:

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.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
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
Start Trading
Description:
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.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

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

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, then it’s better to get started sooner rather than later.

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:

TECNALIA, a renowned research and technological development center in Europe, has joined hands with Chainlink Labs to identify scenarios in which they can apply oracles beyond the DeFi Sector. A press release unveiled this news on September 13, noting both organizations seek to introduce hybrid smart contracts and oracles in…

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 get some 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.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.