Cryptocurrency is still a new thing, but it’s becoming a top investment choice among investors. There are many options available, and you’ve probably heard of (LINK) Chainlink. Do you know where to go to get it or how to buy it? This guide helps you understand why you want it and the ways to purchase it. Let’s get started!
- 1 (LINK) Chainlink Tokenomics
- 2 Where to Buy (LINK) Chainlink
- 3 Best place to buy (LINK) Chainlink
- 4 Now let’s buy some (LINK) Chainlink
- 5 How to Buy (LINK) Chainlink with PayPal
- 6 How to Buy (LINK) Chainlink with Credit Card
- 7 Safe Storage
- 8 Alternate Ways to Buy (LINK) Chainlink
- 9 How to Invest in (LINK) Chainlink
- 10 Conclusion
Tokenomics focuses on why investors believe a cryptocurrency is valuable and interesting.
Chainlink is part of many projects because it uses the oracle network and connects smart contracts to the real world. Oracles are crucial in crypto infrastructure, and Chainlink is the de facto provider for such contracts. Therefore, it represents a large component of developing web 3.0.
It’s expanded significantly in 2021, increasing its total value secured from about $7 billion early in the year to roughly $58 billion in March 2021. That’s an 800 percent spike. However, the market cap of the utility token (LINK) is only up about 30 percent.
Right now, Chainlink 2.0 is in the mix. That might address certain issues to include linear staking in 2022. Potentially, LINK could be locked in on the network, limiting the number of tokens circulated and traded.
Chainlink works by letting people purchase services and specify the number of oracles they need and what query they have. In a sense, it uses an order-matching process to choose oracles required and writes those into the SLA. Node operators aren’t always the data providers here.
The first step in buying LINK is to choose a crypto trading venue or service. There are plenty of them available, and popular options include payment services, brokerages, and crypto exchanges. Let’s learn more about each one:
Payment services include all third-party payment processors, such as PayPal, Stripe, and others. Most of those companies do not allow you to purchase cryptocurrency directly from them, especially when they aren’t as well known. Sometimes, Bitcoin and Ethereum can be bought, but Chainlink is a newer one on the market.
Some cryptocurrency payment gateways handle digital currencies of all types. If that’s the case, you purchase how much LINK you want, add it to a digital wallet, and store it for later use or sale.
Brokerages are mediators between the trader and the market. They often work well for higher money amounts because they offer better security features and more liquidity. However, it’s up to you to understand how trades work, and you require collateral before you can start. Often, brokerages don’t let you buy crypto directly. You must trade it, though that’s not always the case.
Crypto exchanges let sellers and buyers exchange fiat money for crypto and vice versa. Most people like that option when they want to use traditional currency to purchase Chainlink. However, they might trade cryptos with each other, as well.
There’s virtually no way to purchase cryptocurrency without an ID or registration, regardless of whether you select a brokerage, payment service, or crypto exchange. These companies require it to protect themselves and you.
We’ve thoroughly tested different brokerages and cryptocurrency exchanges and feel that the best way to purchase (LINK) Chainlink is through Capital.com. Overall, the process is quite easy, and we even give you a step-by-step guide to help you. Follow along below and buy LINK for yourself with no issues.
Step 1: Open an Account
Visit the Capital.com website. Click the “trade now” button found at the top right of the screen. You can also click on the “open account” button directly on the page, which is in the middle.
Step 2: Fill out the information, then Click “Continue”
Once you click on either button, you must enter your email address and preferred password. Tap on the “continue” button when you’re done. Some people might prefer to sign up with their Apple, Facebook, or Google accounts to save time and reduce the number of login credentials to track.
Step 3: Add Personal Information
Sign in using the information you just provided. Click on the “complete registration” button found in the top right corner of the screen. Enter your residence address information, including your country, nationality, and place of birth. Tap the “continue” button.
On the next screen, you should enter your name as it appears on your ID/passport. Include your date of birth and tap “continue.”
Step 4: Identify Yourself
Verify your identity now. You require an identity document, such as an ID card, residence permit, passport, or driver’s license. Make sure it’s not damaged or expired. The second step is to take a selfie of yourself.
Users can find a QR code on this page. Scan that with your phone’s camera, and then follow the link to get to the identity page.
Select the country that has issued your document and its type. Click on “next,” upload your information, and tap on “next” again.
Take a selfie from your smartphone and make sure it’s approved. Capital.com displays a “thank you” page while it automatically verifies the information you provided.
It’s time to buy LINK, so follow these steps:
There’s a search bar at the top of the page. Type “Chainlink” or “LINK” into it.
Step 2: Open a Trade
Instead of hitting enter immediately, wait for the drop-down menu to appear. It includes information about LINK, and you can click on “open trade” when you’re ready.
Step 3&4: Select the amount and Buy
Enter the trade amount you want to buy and click on the “buy” button underneath that.
Step 5: Fund Your Account
The next screen shows ways to fund your account. Use the drop-down menu to choose your payment method, enter the amount and other information, and tap “deposit” to complete the transaction. You’ve just bought LINK! Capital.com does add a commission fee for using its service.
You may purchase LINK with PayPal directly from Capital.com! Follow all of the account sign-up steps above. When you’re ready to deposit money (fund account), select PayPal in the drop-down list. Enter the amount you want to spend, click “buy,” and it asks you to sign in to your PayPal account to confirm the transaction.
Some people think they have to buy another cryptocurrency from a P2P marketplace and convert that currency to Chainlink. You can do that, but you have to open an account with Capital.com and Paxful (or another exchange). Then, you buy Bitcoins with PayPal, transfer them to your Capital.com account, and trade them for LINK. It’s much easier to purchase LINK directly from PayPal.
Again, you can buy Bitcoin from a crypto wallet with your credit card and trade it in for Chainlink. However, the steps are similar to the above, and it requires multiple accounts.
Instead, it’s better to buy LINK with a credit card from Capital.com directly! Complete the sign-up steps above. When it’s time to fund your account, choose the credit card option from the drop-down list.
Enter the amount you want to spend, add your card number, expiration date, and CVV/CVC, and ensure that the name on the card is the same as the one on your identity document from step 4. Click “deposit,” and you’re done!
You’ve got to focus on safe storage for your Chainlink (or any other cryptocurrency). While cash in a bank account has many protections, crypto doesn’t, so it’s all up to you. Users have lost their crypto, and you don’t want that to happen! Let’s learn about the many ways to store it, including hardware devices and apps.
Many people prefer this method because a third party holds your crypto in cold or hot storage. Most brokerages and cryptocurrency exchanges have wallets of their own, so you don’t have to do anything else or set up another account. Plus, it’s easily accessible for trades, and you can’t lose it if you keep track of your login credentials.
Cold wallets are offline, and hardware wallets are the most popular here. They are small devices that connect to your computer, so they’re only online when you send or receive cryptocurrency.
Ensure that your hardware wallet can accept LINK because some don’t. You may also want to determine how many cryptos it stores for you. When you connect your wallet to your computer, you get an address. Use that to move cryptocurrency around from the broker or exchange to the account.
A hot wallet is the opposite of a cold wallet. It’s often an application that stores the cryptocurrency online. Many people like them because they’re easy to use, quick to set up, free, and offer you more control over your digital assets.
However, they’re housed in the cloud, so they could get hacked. The odds for that are low, but it’s important to be aware of it and use a strong password when creating an account.
Chainlink ATMs let you insert physical cash into a kiosk or standalone device (similar to a vending machine) and buy Chainlink. You can also send Chainlink to the ATM to get physical money back.
These aren’t available in all countries, and they typically charge high fees for use (up to 10 percent). However, they are private and secure and offer more convenience than other options.
Peer-to-peer crypto exchanges don’t use automated engines to complete transactions, so you must manually post the offer and deal directly with the other party.
You’ve got more freedom to choose rates and payment methods because small entities operate them. However, you’ve got to search for high-quality offers, you might pay higher prices, and getting a good deal means understanding price predictions and fluctuations.
Options include LocalCoinSwap, HODL, and Paxful.
Traders often use brokerages to buy and sell crypto derivatives. Therefore, they don’t own the cryptocurrency. Instead, they make bets on whether the price goes down or up to make a profit. However, some brokers let you purchase LINK directly.
People can bet on futures, options, and contracts-for-difference. CFDs let you speculate on the asset price and whether it rises or falls. Crypto futures require you to enter into an agreement with your broker, buying and selling at specific future prices when the contract expires. Similarly, options help you withdraw from the contract, losing the premium at times.
Brokerages include Capital.com, Kraken, Coinbase, Gemini, Robinhood, and eToro.
You’ve got many ways to invest in Chainlink. Though most people buy the coin itself and wait for it to rise high enough to sell, it’s not the only option. Crypto ETFs and Chainlink stacking are also available.
Stacking rewards the token holders for participating in the process of mining. You’re earning LINK because you’re doing your part here. You don’t always get LINK back; sometimes, you might receive Bitcoin for your trouble.
A crypto exchange-traded fund (ETF) pools together related assets that are offered by traditional exchanges through brokers. Overall, the ETF tracks the prices of digital tokens. There’s diversification, low cost of ownership, and many other benefits.
You’ve just learned how to buy Chainlink. While it’s unique, you can buy it through an exchange like Capital.com. Most people prefer that because they create an account, verify it, and are on their way.
Overall, Capital.com is the best choice here. While there are other methods, you only have to visit one website, create one account, and purchase LINK and other cryptocurrencies. Always check out your other options because this is a big decision.