Where and How To Buy Chainlink in 2024 | Beginner’s Guide (2024)

In this guide, we will take a look at how to buy Chainlink as well as the best platforms to buy LINK and the best wallets to use to store your tokens safely.

Currently, our top picks for the best cryptocurrency exchanges to invest with are Binance, Coinbase, and eToro. Continue reading to learn more about them.

How to Buy Chainlink (LINK): Step-by-Step Guide

If you’re looking for a quick overview of how to buy LINK tokens, here is a brief step-by-step guide that covers the process.

Note that this process may differ between different platforms and exchanges.

1. Create an account: If you plan on using a centralized exchange to buy Chainlink, you will need to create an account with your personal details. To do this, fill out the registration form that you will find on the exchange’s website.
2. Verify your ID: Most reputable Chainlink trading platforms will require you to upload proof of ID. This can include a birth certificate, passport or driver’s license.
3. Fund your account: Connect a payment method to your account and then deposit funds. We recommend staring with the minimum deposit.
4. Search for LINK and place an order: Search for the Chainlink token and then fill out the order form to execute your purchase.
5. Send LINK tokens to a secure wallet: Once you have purchased LINK, it is a good idea to send your tokens to a secure cryptocurrency wallet that will protect your funds from hacking or cybercrime.

Best Platforms to Buy and Trade Chainlink

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

eToro Disclaimer : 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.

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. Create coinbase account and start your journey.

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.

Best Wallet to Buy and Store Chainlink

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

How to Trade LINK CFDs

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 and selling LINK CFDs provides a way to trade in both bull and bear markets. Below are our top three brokers for investing in Chainlink through CFDs.

Pepperstone

Pepperstone is the best option for beginners thanks to its simplistic trading processes and educational section. You’ll have access to a range of other markets and a demo account.

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.

How to Buy Chainlink Through a Decentralized Exchange

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.

What Are the Fees When Buying Chainlink?

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

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.

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 wallets.

  
  

Can You Buy Chainlink Offline?

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

Should You Buy or Sell Chainlink?

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.

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.

Final Thoughts

The best way to buy Chainlink in 2024 is to use the Coinbase exchange. We also like eToro and Binance due to the platforms’ simple dashboards and great customer service. To buy LINK, create an account, verify your ID and swap fiat currency for LINK tokens.

After buying Chainlink, it is a good idea to send your tokens to an external wallet for safe keeping.

There are many ways that you can buy and trade Chainlink in 2024. The best method for you will depend on your experience, strategy and long-term goals.

FAQs

Find Out More About DeFi Tokens & Altcoin Guides