How to Buy Chainlink

Chainlink (LINK) cryptocurrency ranks at 17 place by capitalization. It’s 12 June 2024 on $8,859,799,212 year. Circulating supply: 587,099,971. Maximum supply – 1,000,000,000. The price of LINK for today – $15.07 with trading volume of $486,576,615 for 24 hours. The maximum price of Chainlink was registered on 10 May 2021 year and was – $52.70. The lowest price of LINK, $0.14818, was registered on 29 November 2017.
Chainlink (LINK)
$15.07 -3.45% ↓
24h price change
-0.5200 $
Capitalization
$8,859,799,212
24h trading volume
$486,576,615
on the official website

How to Buy Chainlink Price in USD: Convert to US Dollar

LINK
ChainlinkLINKChainlink
BitcoinBTCBitcoin
EthereumETHEthereum
TetherUSDTTether
BNBBNBBNB
SolanaSOLSolana
Lido Staked EtherSTETHLido Staked Ether
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ToncoinTONToncoin
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Wrapped BitcoinWBTCWrapped Bitcoin
TRONTRXTRON
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NEAR ProtocolNEARNEAR Protocol
US Dollar
USD
US DollarUSDUS Dollar
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on the official website
Data updated 6/11/2024

    Chainlink is a distributed network of blockchain oracles. Oracles are special algorithms that provide blockchain smart contracts with access to information outside of its network. The Chainlink ecosystem is the largest decentralized oracle development project in the crypto industry.

    LINK coin is an native ecosystem token. Its main purpose is to pay for work of node operators, which are used by oracles as computing nodes.

    The article will consider the main way to purchase a LINK token – buying on a centralized cryptocurrency exchange.

    What is Chainlink

    The Chainlink ecosystem was developed by Sergey Nazarov and Steve Ellis. The launch took place in 2019. The core of the project is distributed oracle technology based on blockchain nodes. The project is being developed by Chainlink Labs.

    Oracles are used to obtain data from sources outside the network in which they are deployed. They are actively used in numerous DeFi applications, as well as in game projects based on blockchain technologies.

    How to buy Chainlink
    Chainlink logo

    The LINK token does not have its own network, and originally worked on the Ethereum blockchain. The project’s oracles were later ported to the Solana blockchain, but continue to support networks that are compatible with the Ethereum virtual machine (BNB Chain, Polygon, Avalanche and some others). Cryptocurrency emission is limited to 1 billion coins.

    The LINK crypto asset is used as a means of payment for node operators that support the operation of oracles, as well as to improve the accuracy of data processing and the stability of smart contracts.

    Where is the best place to buy LINK

    Due to the popularity of the ecosystem, the LINK coin is available for purchase in many services. You can buy a token through:

    • Centralized and decentralized cryptocurrency exchanges;
    • Payment services;
    • Banks and financial institutions that support cryptocurrency transactions (like Relovut).

    At the same time, it is most profitable to buy LINK on cryptocurrency exchanges. Due to the development of cryptocurrency regulation, these platforms are required to provide a high level of protection for transactions and user accounts. As the biggest players in the cryptocurrency industry, exchanges can also provide good liquidity of assets and multiple ways to buy cryptocurrencies (Mastercard/Visa, bank transfers, third party payment systems, p2p-services etc.).

    The best way to buy LINK is cryptocurrency exchange
    The best way to buy LINK is on a cryptocurrency exchange

    Chainlink buying instructions

    Purchasing Chainlink is described in the step by step guide below:

    1. Determine the level of risk you can afford;
    2. Choose a crypto exchange with favorable conditions;
    3. Register an account on it;
    4. Top up your exchange account;
    5. Buy Chainlink.

    Decide on the level of risk

    Cryptocurrency investments involve a high level of risk associated with the possibility of losing all invested funds. In order not to expose yourself and your capital to unnecessary stress, remember a few simple investment rules. By following them, you can avoid losing money:

    • Use for investing in cryptocurrency the amount of funds that are willing to lose;
    • Don’t invest last money;
    • Do not use borrowed money to invest in cryptocurrencies, especially if you are a beginner;
    • Don’t bet on one project – invest in different startups and assets.

    Choose a crypto exchange

    Choosing the right cryptocurrency exchange to trade LINK can help save on fees charged by the exchange. In addition to trading commissions, you should explore other parameters that a potential site offers. Pay attention to trading conditions, balance replenishment methods, withdrawal and deposit limits for cryptocurrencies and fiat (if the function is available), user reviews and other parameters.

    The best exchanges to buy LINK are presented in the table below

    Exchange
    Website
    BTC trading volume, 24h
    1Binance
    Binance
    BTC trading volume, 24h
    895.06
    2Bybit
    Bybit
    BTC trading volume, 24h
    413.31
    3HTX
    HTX
    BTC trading volume, 24h
    340.90
    4WhiteBIT
    WhiteBIT
    BTC trading volume, 24h
    306.68
    5OKX
    OKX
    BTC trading volume, 24h
    195.01

    Register an account

    The next step to buying LINK will be registering an account on the crypto exchange. For example, let’s open an account on a crypto exchange OKX:

    1. Go to the official exchange’s website → in the upper right corner click Sign Up;
    2. Select one of the possible registration methods (by e-mail or phone) → enter password → add referral code (if you have one) → click Sign Up;
      OKX registration form
      OKX registration form
    3. In the next window, the exchange will ask you to enter a 6-digit code, which will be sent to the specified phone or email;
      Code window
      Window for code
    4. Enter the code and wait for registration confirmation.
      Registration Confirmation Window
      Registration confirmation window
    OKX account registration is described in more detail in the full exchange overview.

    Fund your account

    To start trading, you need to replenish the balance. Depending on the trading platform, different ways to replenish the balance are available to users. OKX exchange, which we are using as an example, supports cryptocurrency only deposits. Top it up with USDT coin:

    1. Go to Assets → Deposits → select USDT → select network (Ethereum or Tron);
      Select USDT as upload coin balance
      Selecting USDT as the top up coin
    2. Specify the necessary account type (general/trading) for replenishment → the exchange will generate a wallet address (including in the form of a QR-code);
      Coin transfer address window
      Window with the address for transferring coins
    3. In the wallet you use select USDT, click Send and paste in the required field the address generated by the exchange (or use QR-code);
    4. Confirm the transaction;
    5. Check the number of coins in the account.

    Buy LINK

    Let’s move on to buying LINK. To do this, you need to use the exchange trading terminal. For example, let’s buy LINK for USDT:

    1. Go to user account;
    2. Click Trade → Basic Trade;
      OKX trading terminal login
      Enter the OKX trading terminal
    3. Select a cryptocurrency pair, for example, LINK/USDT;
      Pair Selection
      Selecting a cryptocurrency pair
    4. Select order type, for example, Market (the asset will be bought at the current price);
    5. In the Total field, enter the amount of USDT coins that will be used to buy LINK;
    6. Press Buy LINK.
      Place a buy order
      Placing a buying order

    How to sell Chainlink

    To sell LINK you need to follow the same steps as for buying it, but you need to go through the whole process in the Sell section, above the Sell LINK button, and then press it to send an order to sell coins to the exchange.

    Place sell order
    Filing a sell order

    Where to store Chainlink

    You can store purchased LINK not only in an exchange wallet. There are also special devices (“cold” or hardware wallets) and applications (“hot” or software wallets) for storing cryptocurrencies.

    Hot wallets are recommended for users who actively use the purchased cryptocurrency, for example, for trading or for paying for goods and services. Trust Wallet is a secure wallet that can be used to store LINK. Hot wallets are considered more vulnerable than hardware wallets because of the increased risk of hacking (they are constantly connected to the Internet). Therefore, when using them, it is recommended to: enable two-factor authentication and create strong passwords.

    Trust Wallet Home
    Trust Wallet homepage
    Read also: Best crypto wallets.

    Hardware wallets are mainly used for long-term storage of cryptocurrencies. Among “cold” wallets, devices of the company Ledger. Hardware wallets provide reliable crypto protection due to the lack of a permanent connection to the network. Their main disadvantage is a high price.

    Ledger Nano S Wallet
    Ledger Nano S wallet

    How to withdraw LINK to wallet?

    Once a LINK storage wallet is selected, you can transfer coins to it from your exchange account. For example, consider the output of LINK from the exchange OKX to Trust Wallet:

    1. In the user’s personal account click Assets → Withdraw;
      Go to crypto withdrawal window
      Go to the crypto withdrawal window
    2. In the next window find LINK in the list of cryptocurrencies → specify networkContinue;
      Creating a withdrawal request. Step 1
      Creating a withdrawal request. Step 1
    3. Enter the address and wallet name (optional) where the coins will be withdrawn. The exchange will automatically calculate the commission;
    4. To get the wallet address go to Trust Wallet → select LINK from the list of coins → click Receive → the wallet will generate address to receive coins;
      Receive button in Trust wallet interface Wallet
      The Receive button in the Trust Wallet interface
    5. Go back to the exchange and enter the address received in the Trust Wallet in the Link Address field on the exchange page → Continue;
      Creating a withdrawal request. Step 2
      Creating a withdrawal request. Step 2
    6. On the next page, enter password to access money and confirmation code been sent to your phone → Confirm;
    7. Check the receipt of LINK coins in the wallet.

    FAQ

    How to buy Chainlink?
    To buy Chainlink:

    • Find a suitable exchange to buy a coin → create an account;
    • Top up your balance using available methods;
    • Enter the trading terminal, select the desired currency pair, for example, LINK/USDT;
    • Create a buy order specifying its type and the number of USDT coins you want to buy LINK for;
    • Click Buy LINK.

    Where to buy Chainlink?
    LINK is available on different services:

    • Cryptocurrency exchanges;
    • Digital payment services;
    • Banks and financial institutions (for example, Relovut).

    The most reliable and profitable way to buy LINK is on a crypto exchange.

    When is the best time to buy Chainlink?
    The best time to buy any coin can be determined using fundamental or technical analysis. These methods may not be the best for beginners who are not familiar with them. Crypto investors and traders who are new to industry should listen to the opinions of market experts and successful colleagues making their decisions.
    Should I buy LINK?
    Any decision to buy or sell LINK can only be made by the investor. Do not forget that investing in cryptocurrencies is a risky activity, associated with the possibility of losing capital. The crypto market is unstable and volatile, therefore forecasts regarding the behavior of any asset should be treated with healthy doubt. The responsibility for actions in the market rests with the investor.
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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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