chainlink: How to buy Chainlink

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Chainlink is a network aimed at connecting data sources to blockchain protocols. The Ethereum-based project has since caught the eye of investors, 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 know how to buy LINK coins on our recommended crypto broker eToro, follow the quick steps below:

  • Open an account with eToro – Go to the eToro website and click “Join Now” to open the registration portal. Fill in the required information and click “Create Account” to continue.
  • Verify account – Submit a snapshot of your driver’s license and utility bill to verify your account.
  • Deposit – Fund your account with a minimum initial deposit of $10 via bank transfer, credit/debit card and e-wallet solutions.
  • Buy Chainlink – Type ‘LINK’ in the search bar and click on ‘Trade’ in the corresponding pop-up result. Insert the amount of link you want to buy and click “Open Trade” to complete the process.

Where to Buy Chainlink – Top Exchanges Reviewed

If you are wondering where to buy Chainlink, these platforms ranked among the best crypto exchanges can help you get started.

1. eToro – Best Place to Buy Chainlink

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eToro ranks as our number one 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 enhancing its appeal, eToro offers the CopyTrader feature which allows new investors to generate good returns from their invested capital by mirroring the successful trades of more advanced investors in exchange for a nominal commission.

eToro is fully regulated by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Industry Regulatory Authority (FINRA).

The first initial deposits largely depend on the country of residence of the investor. US and UK investors can start with as little as $10.

Users can easily fund their trading account via wire transfer, credit/debit card, PayPal, Skrill, Neteller and several others. eToro offers zero deposit and maintenance fees. However, you will be charged a $5 fee for withdrawals. Users can also tap the eToro Crypto wallet to serve as a Chainlink wallet.

Buy Chainlink on eToro.

Crypto-assets are a highly volatile unregulated investment product. No investor protection in UK or EU.

2. Binance – Best Platform to Buy LINK Coins

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Binance is another top crypto exchange you can tap into 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 entitled to a wide range of over 500 cryptocurrencies and can easily turn to the Binance Earn platform to generate passive income from their crypto holdings. Trading fees are set at a minimum of 0.10%, and this can be further reduced to 0.025% if a user owns the native Binance Coin token.

Binance is not regulated by any global body, but does engage in 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 must also complete a facial verification process.

The minimum deposit on Binance is set at $10, and deposits can be made by wire transfer, debit card, and peer-to-peer (P2P). Debit card transactions are charged 3.9%.

Buy Chainlink on Binance.

Crypto-assets are a highly volatile unregulated investment product. No investor protection in UK or EU.

3. Coinbase – Best Platform to Buy Chainlink for Beginners

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If you are looking for a beginner-friendly platform to buy Chainlink, then Coinbase should fit the bill. Coinbase is on a mission to simplify the process of buying crypto for beginners. The platform provides access to rich educational materials aimed at teaching crypto beginners how to buy, sell and trade cryptocurrencies.

Coinbase offers a more advanced Pro platform with more sophisticated trading tools. Users can also tap the Coinbase wallet to serve as a Chainlink wallet and perform other functions. Coinbase has an extremely low initial deposit and users can start with as little as $2.

Deposits can be made with Automated Clearing House (ACH), Debit Card, Google Pay and ApplePay. By tapping on the debit card option, you could pay 3.99% in fees for an instant deposit.

Coinbase is regulated by the Financial Crimes Enforcement Network (FinCEN) and the UK FCA.

Buy Chainlink on Coinbase.

Crypto-assets are a highly volatile unregulated investment product. No investor protection in UK or EU.

What is Chainlink?

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You might be wondering ‘what is Chainlink crypto?’ but before we answer that, let’s discuss what the Chainlink protocol is.

Chainlink is a decentralized oracle network that aims to make it easier for any blockchain protocol to access external data sources.

Prior to its launch in 2019, blockchain protocols were siloed and segmented. While this resulted in network security and integrity, there was a dearth of data that these blockchain protocols could access at any time. Chainlink seeks to solve this challenge by serving as a bridge between these siled protocols and real-world data.

Is Chainlink a good investment?

Below are a few reasons why you should buy Chainlink for a bargain now that the broader crypto market is consolidating.

  • First decentralized Oracle network

Chainlink has enabled all smart contract protocols to easily collect data from off-chain sources without compromising their security and network integrity. This has largely seen Chainlink integrate with several of the most successful protocols in the decentralized finance (DeFi) ecosystem.

  • No single point of failure

Chainlink’s smart contract capability and decentralized nodes allow the network to continue providing verifiable and authentic off-chain data even when a data provider is compromised. This is crucial in a blockchain-based ecosystem where data integrity is key to success. Chainlink is building on its successes and is currently working to provide more decentralized data for blockchain protocols. That’s according to a Chainlink 2.0 white paper published in April 2021. This upgrade will see Chainlink build off-chain networks on oracles to handle some of the compute-heavy loads 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

Go 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 “Create Account” when you’re 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 by credit card, debit card or bank transfer. However, you will first need to deposit a minimum of $10 only if you reside in the US or UK. Click on “Deposit funds” and insert the amount you wish to deposit. Then select a payment method and click “Deposit” to complete the process.

4. Search LINK

Type ‘LINK’ in the search bar and click on the first pop-up result that appears.

5. Buy Chainlink

Click the “Redeem” button to open the order page. Insert the amount of LINK coins you want to buy and click “Open Trade” to complete the process.

Best Chainlink Wallet

Cryptocurrencies, like all assets, need a place to be stored securely. This is what crypto wallets like eToro Money Wallet do. These smartphone apps help users store their crypto funds safely from malicious attacks.

The eToro free crypto wallet supports over 120 cryptocurrencies and is our pick for the best Chainlink wallet. It supports 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 recover your private key if lost.

Conclusion

Chainlink is a promising project and comes with a strong value proposition. Given its designation as the premier decentralized oracle network (DON) in the crypto space, several investors are eager to buy Chainlink.

eToro still remains our best crypto broker to buy Chainlink and you can easily use the CopyTrader feature to profit while copying more sophisticated investors.

Buy Chainlink on eToro.

Crypto-assets are a highly volatile unregulated investment product. No investor protection in UK or EU. Your capital is in danger. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you can afford to take the high risk of losing your money.

Disclaimer: Content Produced by CryptoPR

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