Buy Chainlink (LINK)
How To Buy Chainlink
LINK is the token of the Chainlink network.
Step 1: Choose An Exchange Or Wallet.
LINK is an Ethereum-standard ERC-20 token which means it’s supported on many of the most popular exchanges.
Step 2: Decide On The Amount You Want To Purchase.
Once you’ve created an account with an exchange and funded your account balance, you will need to choose how much LINK you would like to purchase.
Step 3: Store, Transfer, Or Use Your LINK.
By default, exchanges will store your LINK in their custodial wallets. You can transfer your LINK tokens out to any crypto wallet that supports ERC-20 tokens, or leave them in the exchange for safekeeping.
Where To Buy LINK Crypto
LINK is an Ethereum-native ERC-20 token which means it’s supported by many popular exchanges including:
LINK Crypto Overview
| Token | Network | Founders | Key Individuals | Year Founded | Investors |
|---|---|---|---|---|---|
| LINK | Chainlink Ethereum ERC-20 | Sergey NazarovSteve Ellis | Sergey Nazarov Steve Ellis Adelyn Zhou Benedict Chan | 2017 | TGE Capital, Fundamental Labs, Limitless Crypto Investments Nirvana Capital + more |
Why Does Anyone Buy Chainlink?
LINK is the token of the Chainlink network, which provides off-chain data to blockchains. This enables blockchains to use data from the non-blockchain world for a variety of purposes. This infrastructure is known as an “oracle” and is used to fetch data on prices of financial assets, business information, or any other non-blockchain information that a blockchain app may need.
- LINK is one of the top 25 cryptocurrencies by market cap.
- Chainlink price oracles help power some of the most popular decentralized apps including Aave, Synthetic, and Compound.
- Chainlink oracles have enabled over $6.9 trillion in transactions across Ethereum, the BNB Chain, Avalanche, and others.
- LINK is included as a part of the coveted Grayscale Trust which allows traditional investors to invest in crypto assets.
Is LINK Being Used?
Daily trading volume for LINK: $230 million (as of 1/2023)
The LINK token is used to incentivize and reward validators on the Chainlink network. LINK is also used to reward those who provide off-chain data for the Chainlink oracles. Chainlink introduced staking for LINK in September of 2022, and their roadmap includes many more use-cases for LINK.
- LINK can be staked for an average 4.75% rewards rate.
- *There is a limit to how much LINK can be staked in the LINK community pool, so staking is not available at all times.
- Network participants who help provide off-chain data for Chainlink oracles are rewarded in LINK.
- Chainlink’s initial coin offering (ICO) documents split the use of the LINK token into three parts:
- 35% of LINK’s supply is used for node operators
- 35% for public sale events
- 30% for the future development of the Chainlink Ecosystem
Key Events For Chainlink Coin
- December 2022: Aave DAO Votes to Integrate Chainlink Proof of Reserves to Tighten Network Security
- November 2022: Chainlink Launches Staking v0.1 for their Native LINK Token
- September 2022: Chainlink is Lending its Technology to Financial Network SWIFT to Facilitate On-Chain Transactions
- February 2022: BofA Says Chainlink Likely Driver for DeFi’s TVL Growth to $203B
Discover Similar Tokens
- Quant (QNT): Quant is an Ethereum-based protocol whose goal is to connect public blockchains and private networks for enterprise consumers. Similarly to Chainlink, Quant has to interface between blockchain and non-blockchain data frequently.
- Aave (AAVE): Aave is one of the largest decentralized finance (DeFi) lending platforms out there. Aave relies heavily on Chainlink’s Price Feeds for its services.
- Band Protocol (BAND): Chainlink is far-and-away the most popular oracle network, but the runner-up is giving it a run for its money. Unlike Chainlink, which runs on Ethereum, Band Protocol runs on Cosmos and it’s considered cheaper and faster than Chainlink.
Frequently Asked Questions
LINK reached an all-time high of $52.99 on May 9th, 2022.
Despite the ongoing crash of the LUNA token in early May of 2022, Chainlink was able to ink an all-time high right before the start of the bear market that settled in later in the month.
The Chainlink network underlies many of the most popular decentralized finance (DeFi) protocols including Aave, Compound, and others. This means that the LINK token has a real use case that is being proven out every day.
LINK is included as one of the few altcoins in the Grayscale investor trust, which signals confidence in the token from Wall Street. However, there is no way to know if LINK will be a good investment long term.
Yes, however, you will first need to fund a trading account with your credit card and then use those funds to buy LINK.
Exchanges like Uphold, eToro, Coinbase, and others allow you to fund your account balance with a credit card.
There are no special restrictions for buying LINK in the USA.
Simply sign up for an exchange that supports LINK (such as Uphold, eToro, or Coinbase) and complete your purchase.
Chainlink is one of the most widely used pieces of infrastructure for DeFi. Chainlink is an oracle service that provides prices and other off-chain data to protocols across all blockchains.
The prevalence of Chainlink’s services across blockchains of all types gives Chainlink a unique level of adoption that not many other projects have.
A blockchain “oracle” is a piece of software that provides blockchains with off-chain data. This data can be financial asset prices, business analytics information, or even weather and sports stats.
Any blockchain that interacts with off-chain data needs an oracle in order to function. Chainlink is the largest provider of oracles and oracle services for all forms of blockchains.
