Chainlink (LINK) is the 17th largest cryptocurrency by market cap, valued at US$12,013,899,591.
Chainlink is a highly volatile asset capable of major price swings in a single day. Today the price of LINK is $17.72, which is higher than yesterday's trading price of $17.71. Over the past year, Chainlink's price has seen an increase of 30%.
So before you buy Chainlink, make sure you understand these unique risks as well as its legal and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions on how you can buy Chainlink.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade LINK by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
Chainlink (LINK) is blockchain middleware that aims to connect smart contracts with real-time information from off-chain resources, such as banks and stock exchanges. This allows smart contracts to access data feeds, application programming interfaces (APIs) and traditional bank payment systems that operate outside the blockchain infrastructure.
There are a number of potential applications for this, such as connecting smart contracts with the following information: Central bank interest rates Current exchange rates Off-chain payment methods Shipment and customs data Sports scoresWeather forecasts For example, let's assume that there's an Ethereum smart contract that needs to make a payment through PayPal. There's currently no compatibility between Ethereum and the PayPal API, which is where Chainlink comes in. By linking the smart contract with the PayPal API, it can ensure fast and secure payment. LINK tokens are the cryptocurrency of the Chainlink network. When any company that operates a data feed, payment service or other useful off-chain API connects them to smart contracts through the Chainlink network, that company will receive LINK tokens in exchange.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Chainlink.
Once you've created an account, you will need to deposit funds to buy LINK with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy LINK:
The easiest way to buy LINK is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying LINK, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Chainlink has been performing recently.
You can keep your LINK on the exchange you purchased it on, or move it to a personal wallet:
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
Before deciding whether or not to invest in a cryptocurrency, it's important to understand the uses of the token and its associated platform. In the case of LINK, here are some things worth considering:
Compare today's price of Chainlink ($17.72 USD) against its all-time-high price of $52.7 USD on 10 May 2021. The closer the bar is to 100%, the closer LINK is to reaching its ATH again.
Disclaimer: Cryptocurrencies, including Chainlink, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LINK is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Chainlink or any other cryptocurrency discussed.
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