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How to Buy Chainlink in 2022

Last updated 26th Sep 2022
Disclosure

This comprehensive guide will disclose the best platforms to purchase LINK, where to store it safely, historical information, the fees you’ll pay, and alternative ways you can make money with Chainlink. Currently, our top picks for the best exchanges to invest in are Binance, Coinbase, and eToro. Continue reading to learn more about them.

1
eToro
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$10
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Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

The top pick for buying LINK is eToro due to them offering convenient services for beginners. The platform provides a learning section, multiple deposit options, and a demo account. Here’s a quick overview of eToro:

💰 Trade Values:CFDs, Cryptocurrencies, Stocks, and Commodities
📊 Software:Website and smartphone app
🏆 Demo Account Available:Yes
📺 Ease of use:Excellent
⭐ Our rating:5/5
📱 App Available:iOS and Android
🧩 Regulation:Cyprus Securities and Exchange Commission (CySEC)
💰 Fees:1% of purchase order
🔁 CFDs Available:Yes
⚽ Social Trading:Yes

Since Chainlink is a popular cryptocurrency you can trade or buy it on the top platforms. This section highlights the best exchanges and brokers that offer premium services for their clients.

Buy Chainlink Using Cryptocurrency Brokers - The Easiest Way

Cryptocurrency brokers are apps or websites that let you trade LINK with other investors. These platforms often have services like copy trading, staking, and an educational section. Below you’ll find the best overall options that offer easy solutions for acquiring Chainlink. Also, we’ll give a brief overview of each platform.

ProviderFee (USD 1000)Get Started
🥇 eToro$10Start with eToro now
🥈 Coinbase$6Start with Coinbase now
🥉 Crypto.com$4Start with Crypto.com now

eToro

Our top choice for buying Chainlink is via eToro as they offer a premium service for beginners. They also include a free learning course on how to trade using their platform.

Coinbase

We highly recommend Coinbase as they are known for having the best service for investing in various cryptocurrencies. Moreover, you can earn cryptocurrencies for free via the learning section. Afterward, you can sell the coins for LINK.

Crypto.com

Crypto.com is becoming the top platform to trade with its fast adoption and commitment of over $1 billion in marketing. The established brand offers a debit card with cashback rewards, so you can use it for everyday banking along with investing in LINK.

Buy Chainlink on Etoro: Step-By-Step Guide

Step 1: Create an account
Step 2: Verify your identity
Step 3: Deposit funds
Step 4: Buy Chainlink
Step 5: Send Chainlink to a Wallet

Best Wallet to Buy and Store Chainlink - LINK Wallet Comparison

After you’ve bought Chainlink, you’ll want to store them in a cryptocurrency wallet. This is because hackers often target exchanges, and your funds may get stolen. Therefore, storing them in a hot or cold wallet is often safer if you keep your seed phrases safe. Below you’ll find the top three wallets that can store LINK and alternative coins like Bitcoin.

ProviderWallet TypeGet Started
🥇 Ledger Nano XHardwareStart with Ledger now
🥈 ExodusSoftwareStart with Exodus now
🥉 Atomic WalletSoftwareStart with Atomic Wallet now

How to Sell Chainlink in 2022 Using eToro?

You can sell LINK through eToro following these simple steps:

Step 1: Sign in to your account
Step 2: Search the search bar
Step 3: Click "Sell"
Step 4: Specify the number of coins
Step 5: Finalize your order

Buy Chainlink Using CFDs - Best for Trading

Cryptocurrency brokers are the main platforms that issue CFDs for coins like Chainlink. These are derivative products, which means you won’t own real LINK tokens. However, buying LINK CFDs is often easier than using an exchange, so this option is ideal for beginners. Below are our top three brokers for investing in Chainlink through CFDs.

ProviderFee (USD 1000)Get Started
🥇 eToro$10Start with eToro now
🥈 Plus500$7Start with Plus500 now
🥉 Eightcap$35Start with Eightcap now

eToro

eToro is the best option for beginners thanks to their simplistic buying processes and educational section. Also, they are one of the only brokers that let you withdraw coins to a wallet.

Plus500

Plus500 is a reliable broker offering Contract for Differences on various cryptocurrencies. They have a user-friendly demo account, so you can trade LINK without risk. Afterward, you may deposit money and invest once you have a good grasp of trading.

Eightcap

This Australian broker has Chainlink CFDs and advanced trading software for experts. However, beginners can use Eightcap’s basic exchanging section for their LINK investing needs. Also, they offer an in-depth learning section, perfect for those looking to trade but have little experience.

Best Apps to Buy Chainlink - Most Convenient

These are the best cryptocurrency exchanges that offer an interactive app for buying Chainlink. They are free to download and available in most regions worldwide.

ProviderFee (USD 1000)Get Started
🥇 Coinbase$6Download now
🥈 Kraken$1.60Download now
🥉 Binance$1Download now

Buy Chainlink on eToro App: Step-By-Step Guide

Step 1: Sign up for an account
Step 2: Provide ID
Step 3: Fund your account
Step 4: Invest in Chainlink

Buy Chainlink With Exchanges - The Cheapest Way

You’ll want to use an exchange to purchase Chainlink cheaply because they offer favorable fee rates. Binance, KuCoin, and Kraken are by far the most cost-effective platforms as they have no costs for depositing and overnight fees. Also, they have multiple trading pairs such as USDT/LINK, BTC/LINK, ETH/LINK, and more.

ProviderFee (USD 1000)Get Started
🥇 Binance$1Start with Binance now
🥈 KuCoin$1Start with KuCoin now
🥉 Kraken$1.60Start with Kraken now

Buy Chainlink on Binance: Step-By-Step Guide

Step 1: Register for an account
Step 2: Fund your account
Step 3: Open the trading interface
Step 4: Finalize the trade
Step 5: Confirm the transaction using the blockchain explorer

Buy Chainlink Using Decentralized Exchanges (DEX) - The New Way

DEXs (Decentralized exchanges) are the new way of investing and trading coins. They use liquidity pools to provide trade volume and do not require registering for a new account. However, you will need to connect a compatible crypto wallet to the platform, and fees can vary from cheap to very expensive.

ProviderFee (USD 1000)Get Started
🥇 PancakeSwapVariesGet started now
🥈 1inch NetworkVariesGet started now
🥉 UniswapVariesGet started now

Buy Chainlink on PancakeSwap: Step-By-Step Guide

Step 1: Open the app and connect your wallet
Step 2: Search for Chainlink
Step 3: Exchange your coins

Can You Buy Chainlink Using P2P Services?

Unfortunately, there are no premium P2P platforms that offer buying processes for LINK.

Can You Buy Chainlink Using Other Trading Platforms?

Chainlink is an established cryptocurrency that is available to purchase on most platforms. Below you’ll find out where you can invest in LINK, along with the expected fees.

Cryptocurrency PlatformCan You Buy LINK?Fee (USD 1000)Review
BinanceYes$1Binance review
TD AmeritradeNoN/AN/A
BitstampYes$5Bitstamp review
BittrexNo$3.50Bittrex review
CoinbaseYes$6Coinbase review
PoloniexYes$1.55Poloniex review
BitMartYes$2.50N/A
BitrueYes$2Bitrue review
BlockFiYes$10N/A
CoinDCXYes$2N/A
CoinSwitchYes$5N/A
Crypto.comYes$4N/A
EtherDeltaYes$3N/A
E*TRADENoN/AN/A
FidelityNoN/AN/A
FTXYes$7N/A
Gate.ioYes$7.50N/A
HotbitYes$2N/A
KrakenYes$1.60Kraken review
KuCoinYes$1KuCoin review
RobinhoodNoN/AN/A
UpholdYes$19.50N/A
VenmoNoN/AN/A
VoyagerYes$10N/A
WazirXYes$1.50WazirX review
WealthsimpleYes$15 - $20N/A
WebullYes$10N/A

What Is the Difference Between Buying Chainlink and CFDs?

When deciding whether to buy Chainlink or invest in CFDs, buying real coins is the preferred method because you have full control of your investment. You can withdraw it to a wallet, store it long-term, or spend it on products and services.

On the other hand, with CFDs, you will not own LINK and be buying into a derivative product instead. This means you must trust the platform to provide a fair service with your investment. However, CFD brokers are often easier to use, and liquidity is not an issue.

Pros

Brokers that provide CFDs are regulated
CFDs are easy to acquire through crypto brokers
Small amount of brokers offer derivative products for Chainlink
You can long or short CFDs

Cons

Lack of asset ownership
You rely on the CFD issuer to keep your holdings safe
CFD brokers (excluding eToro) do not allow you to withdraw coins to a private wallet.
No option to stake or lend LINK for passive income

There are many options catering to different kinds of investors, here's a rundown.

Buy Chainlink Instantly with Online Banking - The Fastest Way

Coinbase Pro is the best platform for online banking as they have fast deposit speeds and popular trading pairs for LINK.

Buy Chainlink with PayPal - The Safest Way

There is no option to buy Chainlink through PayPal, but you can use it as a deposit method on eToro. Afterward, you can purchase LINK using their trading interface.

Buy Chainlink Using a Debit Card - The Cheapest Way

To buy LINK cheaply via debit card, you’ll want to use it as a deposit method and avoid instant buy sections. Kraken is the optimal exchange for investing in Chainlink with your bank card.

Buy Chainlink Using a Credit Card

Credit cards are riskier to use since you are borrowing funds to purchase a volatile asset. Nevertheless, you can use Crypto.com for your Chainlink buying needs with this payment method.

Best Platforms to Buy Chainlink in Other Countries

Below you’ll find the best platforms to use in each country. Since regulations differ between regions, exchanges or brokers may not have a license to operate there, so the top options will be diverse.

Country to Buy LINK inBest ProviderProvider TypeFee
AustraliaCoinbaseExchange$6
the UKCoinbaseExchange$6
BangladesheToroBroker$10
CanadaBinanceExchange$1
HawaiiCEX.ioExchange$2.50
IndiaWazirXExchange$1.50
JapanKuCoinExchange$1
NepalKrakenExchange$1.60
New ZealandBinanceExchange$1
PakistanKuCoinExchange$1
PhilippinesBinanceExchange$1
SingaporeCrypto.comExchange$4
South AfricaeToroExchange$10
UAECoinbaseExchange$6

Here are the fees for using eToro, Plus500, and Binance if you bought $1,000 worth of LINK and held for 30-days.

PlatformeToro BrokerPlus500 CFDBinance Exchange
Deposit fees$0$0$0
Purchase fees$10$7$1
Holding fees$0$0$0
Selling Fees$10$7$1
Payout fees$5$6$15
Total fees$25$20$17

We’ve compared the top exchanges based on their fee structures and found the options below to be the cheapest.

ProviderFee (USD 1000)
🥇 Binance$1
🥈 KuCoin$1
🥉 Kraken$1.60

If you’re in a hurry, these brokers and exchanges provide instant buy sections and convenient interfaces for acquiring Chainlink quickly.

ProviderFee (USD 1000)Get Started
🥇 eToro$10Get started now
🥈 Coinbase$6Get started now
🥉 Crypto.com$4Get started now

How to Buy Chainlink Anonymously?

Perhaps anonymity is a requirement for buying LINK since you want to keep your investments private. Then a decentralized exchange would be the ideal choice since there is no registration process, and you only need to connect a crypto wallet. They function by using smart contracts and are not owned by a singular entity.

How to Buy Chainlink Without Registration or KYC?

You can purchase LINK without a KYC using KuCoin. However, your account will have restrictions like withdrawal limits and only crypto deposit options.

Step1: Create an account
Step 2: Deposit funds
Step 3: Go to the trading page
Ste 4: Search for LINK
Step 5: Select how much crypto to convert

How to Buy Chainlink Without Verification?

To acquire Chainlink without identification, you can use a decentralized exchange. They all work similarly, so you can use these steps as a guideline:

  • Step 1: Open the decentralized exchange

  • Step 2: Connect your crypto wallet

  • Step 3: In the swap section, choose the coin you have and LINK as the coin to acquire.

  • Step 4: Write how much crypto to swap for LINK.

  • Step 5: Complete the trade by confirming the transaction with your crypto wallet.

Can You Buy Chainlink Offline?

No, you cannot buy Chainlink offline as you need an internet connection to trade.

Chainlink is a promising project worth investing in due to its real-world use cases. If you want to learn more about the project, here are some pros and cons.

Why should you buy Chainlink?Why should you sell Chainlink?
Chainlink is an established coin with multiple use cases, giving it value.The project has a long way to go before it reaches its full potential.
Chainlink is a decentralized cryptocurrency.LINK’s price fluctuates steeply.
Chainlink has an expert founding team.Low marketing effort.
LINK has secured multiple partnerships and integrations with trusted brands.Overdependence on SWIFT partnership.
Has interoperability features.LINK creators own most of the coin supply.

Do You Need to Pay Tax on Chainlink in the US?

Yes, you will need to pay taxes on crypto profits if you live in the United States. However, the amount varies depending on how long you hold as the US has short and long capital gain tax. For example, if you hold for at least a year, you’ll pay between 0% to 20%. However, with short-term holdings, you may be subject to a 10% to 37% tax, depending on your income bracket.

Since taxes vary between states, you should visit your region's government website to learn the exact taxing process.

Now we’ll explain what can impact the price of LINK and the potential future of the coin. Here’s how the cryptocurrency is currently performing:

What Impacts Chainlink Price?

Several factors can swing Chainlink’s price, here are the main aspects to consider:

Regulation: Laws and regulations are becoming stricter, making it harder for cryptocurrencies to become adopted. This negatively affects LINK as fewer investors have buying opportunities in the coin.

Marketing: How LINK gets marketed plays a huge role since more investors get introduced to the project. Unfortunately, Chainlink hasn’t been doing the best job of getting widespread adoption and has been focusing mainly on partnerships.

Use-cases: Real-world use-cases are essential for Chainlink’s growth. They are the largest oracle cryptocurrency securing billions of dollars on the blockchain, giving it tremendous value.

Competition: Since Chainlink’s creation in 2017, there have been several oracle cryptocurrencies that aim to gain market share. This can impact LINK negatively if more people opt to buy another coin rather than Chainlink.

Demand: For the foreseeable future, LINK will have a huge demand for securing money in smart contracts. Therefore, we can expect the price to grow as more money gets allocated to the blockchain.

Here we can see how Chainlink has performed since its launch back in 2017.

Current Price Prediction News

If you’d like to learn more about the potential future of Chainlink’s value, here are some prediction news blogs:

Other Ways to Make Money With Chainlink in 2022

The following section outlines some alternative ways you can profit from Chainlink in 2022.

Stake Chainlink Using DeFi or CeFi

Staking is the process of allocating your coins in a pool to support the network. Each day participants receive interest on their coins as a reward. The best app for staking LINK is Crypto.com, thanks to their straightforward interfaces and process of locking in your tokens.

Buy Chainlink Using ETPs (ETFs & ETNs)

ETPs (Exchange-traded product) is a security that trades on the national stock exchange. The top provider for LINK ETPs is 21Shares.

Chainlink is unique in that it allows users to create dynamic NFTs. This means your Non-Fungible Tokens can be updated. For example, changing the stats of a basketball player NFT. However, there are currently no platforms that allow you directly buy NFTs using Chainlink.

You may purchase Google (Alphabet Inc) stocks, which have partnered with Chainlink for its cloud services.

Chainlink Mining

Chainlink cannot be mined as it uses a DPoS and PoA network. However, you can run a node (oracle) that provides data for smart contracts and get paid every time your node gets used.

Use Chainlink Faucets

Faucets are rewards distributed to clients for completing various tasks on their platform. Coinbase is the ideal option since they provide faucets for different coins. Afterward, you can exchange the rewards for LINK tokens via the trading interface.

Here are some other oracle cryptocurrencies you may want to look into.

CoinSymbolLearn how to buy
UMAUMABuy UMA
WINkLinkWINBuy WIN
API3API3Buy API3
NEST ProtocolsNESTBuy NEST
AugurREPBuy Augur

Is It Still Worth Investing in Chainlink or Not?

Chainlink is definitely worth having in your crypto portfolio as it’s the largest oracle coin in the market, with a value exceeding $3 billion. Unlike most projects, LINK has real use-cases that are being utilized today by businesses. Recently, the development team has announced a total of $60 billion has been secured into smart contracts. As Chainlink progresses into Web 3.0, its services will be used more and, as a result, gain significant value.

As with all cryptocurrencies, Chainlink is highly volatile and a risky asset to buy. Therefore, you should do your own research and invest what you can afford to lose.

FAQs

What is the best provider to buy Chainlink in the US?
What is the cheapest provider to buy Chainlink in the US?
Is it worth investing in Chainlink right now?
Is there a limit to how many LINK I can buy?
Can you buy Chainlink on the blockchain?
What can you buy with Chainlink?
Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.