When you buy Chainlink, you are dealing with a cryptocurrency that deals with so-called smart contracts.

Finally, both Ethereum and Bitcoin will be included in the Chainlink function.

This has placed Chainlink in eleventh place of all cryptocurrencies in terms of market capitalisation. All of these features play an important role in the decision to buy Chainlink, of course.

At the same time, interested carriers are also likely to have welcomed the partnership with payment provider SWIFT. After all, 11,000 banks worldwide are involved in this technology.

Let 2019 be an exemplary year for Chainlink’s potential. At that time, the coin went from $0.41 to $2.28. Clever calculators will already have the percentage in mind: a whopping 550%.

Comparison of chain brokers and exchanges

However, when buying Chainlink, it is not only the potential of the cryptocurrency that is crucial, but also the choice of a good supplier.

To that end, we have summarised the most important information about Chainlink on this page and show where trading with the popular digital currency works best.

Buy chain links for beginners in 3 steps

In order to buy Chainlink, it is necessary to have an account with a broker or cryptocurrency exchange. At this point, we recommend CFD broker Libertex, which has gained some notoriety thanks to its association with Tottenham Hotspurs football club or Valencia CF.

Step 1: Register with a cryptocurrency broker or exchange (Libertex)

The offer is characterised by a European licence and therefore guarantees regulated CFD trading. Therefore, the first step is the necessary registration. To do this, you must first enter an email address on the platform under the “Register” button and choose a password.

In addition, the data processing conditions and general terms and conditions are confirmed and you can register. It should be taken into account that the data must also be verified during the registration process.

Step 2: Topping up the account

The second step is to top up the account. Here you can easily resort to the euro. Credit cards are available as payment methods, but also instant bank transfer, Skrill, Trustly, Neteller and other providers.

Third step: buy chain links

Now you are ready and can buy Chainlink. At Libertex, everything works through derivatives, specifically CFDs. You can find more information about this type of trading in our guide to CFD trading.

Incidentally, if you are not entirely convinced by the digital currency, you can also bet on a price decline with a sell position.

Broker or exchange: Where is the best place to buy Chainlink?

It goes without saying that investing in LINK also raises the question of where is the best place to buy Chainlink – should you use an EU-licensed broker or one of the many exchanges?

Ultimately, this depends on both individual taste and investment objectives. If you want to invest for the long term in order for Chainlink to establish itself as a cryptocurrency in the market, exchanges are likely to be the best option.

With them, you can acquire tokens in real form and store them in a wallet. With brokers, this is only possible to a certain extent. Many of the official EU-licensed offers only offer LNK as CFD positions.

On the one hand, significantly higher returns are possible here, as the underlying asset does not have to be purchased first, but on the other hand, the risks also increase dramatically.

If you want to profit from short-term price volatility, use leverage or target short positions, CFDs are the right choice.

In this case, another advantage is that you do not have to create and manage a cryptocurrency wallet first.

Pros and cons of buying Chainlink

  • An exciting new type of cryptocurrency
  • Connect Bitcoin and Ethereum
  • Strong price development in 2020
  • smart contracts
  • Tradable as CFD or token
  • Highly speculative investment
  • The actual benefit can be questioned

How much are the fees when buying Chainlink?

The tariffs for the purchase of Chainlink depend entirely on the selected provider. Therefore, it is not possible to make a general statement about the possible costs for the purchase of links.

In individual cases, providers may apply different fees. From this perspective, it is important to ensure that deposits and withdrawals are free of charge. Account management or a necessary wallet should also be included in the offer for free.

Prestataire

Libertex

Dépôt

free of charge

Cryptocurrency trading fees

0,4% – 8%

Trading commissions Equities and ETFs

0,01% – 0,5%

Trading rates in the foreign exchange market

0,005% – 0,07%

Commodity trading rates

0,015% – 0,08%

Frais de participation

free of charge

Payments

free of charge

If we look at the recommended provider Libertex, we see that all deposit methods are actually possible for free. If you use a credit card for a withdrawal, you have to pay one euro as commission, with Neteller you have to pay one percent. If it is a bank transfer, there is a commission of 0.5%, but a minimum of two euros and a maximum of ten.

In addition, transaction fees, which are likely to be between 0.4% and 8% in the case of cryptocurrencies, must be taken into account. In contrast, a spread is not due. However, it should be noted that a rollover fee will be charged for overnight positions.

Chainlink’s share price: Important moments in Chainlink’s share price performance

Chainlink was launched as early as 2015, but the token was slow to go on sale. The ICO then took place on 18 September 2017. At that time, 32 million Link coins were distributed to the first investors. The first fixed price of LNK was $0.195.

Back then, investors had to get 2600 Link for a single Ether. This should be worth it if the current price of Chainlink is taken as a comparison. It is more than twelve US dollars.

Unlike most cryptocurrencies, Chainlink was not dragged down by the big price drops of 2017 and 2018. Those who invested on 1 January this year were able to increase their deposits more than tenfold.

Property as a platform is likely to have been driven in this direction in 2020 by the Covid pandemic.

Buy Chainlink with or without wallet?

The difference between CFD trading and buying real crypto tokens has already been explained on this page. The question about the need for a wallet is along the same lines.

Again, reference should be made to the provider to be used. Our recommendation Libertex, for example, allows trading without a linking wallet.

After all, the tokens are only used as underlying assets for CFD positions. This makes the wallet completely superfluous. However, there are also providers in the market, such as eToro, that have integrated a wallet directly into their platform.

So you don’t have to go through the trouble of switching to a mobile wallet either, although that option is definitely available.

In contrast, blockchain wallets allow for greater flexibility and independence. Coins can have their own password and users can keep tokens even if a company goes bankrupt or simply disconnects.

However, with Libertex’s deposit protection of around 20,000 euros, there is no need to worry about losing your funds when trading CFDs.

Buy LNK – the conclusion

Chainlink is a very interesting cryptocurrency that has positioned itself as a link between Ethereum and Bitcoin. Especially in times of the Corona crisis, it has created a digital platform that seems to have a lot of appeal.

This caused the price of LNK to reach unimagined heights within a few months. Only time will tell whether further increases can be tackled in the future. However, we are quite optimistic in this respect.

For short-term investments, the Libertex offer, which Chainlink has in its programme, is mainly worthwhile.

Buy Chainlink: Frequently asked questions

How to buy Chainlink?

Simply follow our instructions to buy Chainlink on this page. After registration, all that is required is a deposit and you can open CFD positions on the buy or sell Link.

What is the difference between a broker and a stock exchange?

A broker does the trading for you and often excels in the world of cryptocurrencies by dealing in CFDs. Exchanges allow digital currencies to be traded between individual traders and therefore often require a wallet as well.

Will the value of the chain increase in the future?

Forecasting is always difficult and is like looking into a crystal ball. However, a brief look into the past might provide some clarification. In just a few years, LNK has become an established provider in the cryptocurrency sector and has been able to steadily increase its prices.

Can I also use my Bitcoin wallet for Chainlink?

In some cases it is quite possible, but it should not be taken for granted. Contact the wallet manufacturer or supplier or simply open a Libertex account.

How can I find Chainlink in an exchange?

The link chain is usually found under the abbreviation LNK or Link. Most platforms have a search box where these abbreviations can be entered.

Is buying Chainlink on Libertex a good idea?

Libertex has CFDs. As long as these derivatives meet your trading ideas, the provider is certainly suitable. It is regulated in the EU and has as one of the few online platform links in the repertoire.

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