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How To Buy Chainlink (LINK) and Everything You Need To Know

12 mins
Updated by Ish Bautista
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Focused on real-world and blockchain connections, Chainlink is a popular decentralized project. But how does the ecosystem work, and is it worth buying the native token, LINK? Here’s everything you need to know, including where and how to buy Chainlink.

Do you want to buy LINK? Use and test these exchanges

Best for beginners and advanced crypto traders

Best for beginners and advanced crypto traders
Explore YouHodler on YouHodler’s official website
Supported assets 54+
Deposit fees 0
Trading fees rollover fee paid every fixed period of time

Secure exchange with high deposit & withdrawal limits

Secure exchange with high deposit & withdrawal limits
Explore Kraken on Kraken’s official website
Supported assets 120+
Deposit fees 0
Trading fees 0,02%-0.05%

Best for demo and spot trading

Best for demo and spot trading
Explore OKX on OKX’s official website
Supported assets 300+
Deposit fees 0
Trading fees 0.10%

Methodology

Chainlink is a very popular protocol, and many exchanges list the native token LINK. Here are some good options:

Trading volume:
Over $2M (24h)
Trading fees
Variable
Availability
100+
Cryptos
250+


Trading fees
0.00%-0.001%
Bonus
up to $200 for U.S.
Availability
100+
Cryptos
200+
Trading fees
0.26%
Bonus
No bonus
Availability
100+
Cryptos
300+
Trading fees
Maker fee. 0.080%. 0.075% ; Taker fee. 0.100%
Bonus
Guaranteed airdrop up to $100
Availability
100+
Cryptos
350+
Trading fees
0.00% and 0.01%
Bonus
Up to $600
Availability
100+
Cryptos
40+
Trading fees
$3.99 or 4.5%
Bonus
No

Thanks to their solid industry standing, all the above-mentioned exchanges are recommended. All are good options for purchasing LINK securely. If you’re a beginner, choosing one of the centralized exchanges makes sense, as they are slightly more intuitive than their DEX counterparts. However, to buy LINK anonymously, choose Uniswap.

What is Chainlink?

What is Chainlink? The decentralized Oracle protocol differs from standard web3 projects. An oracle serves as a trusted source to bring real-world information, data, or validation into the digital world (e.g., applications or smart contracts).

In other words, Chainlink brings real-world data on-chain. Steve Ellis and Sergey Nazarov created Chainlink, the latter of which is the CEO of Chainlink Labs. Chainlink’s development began in 2014 but wasn’t launched until 2017.

 founders
Chainlink founders: Chainlink Labs

Chainlink is based on decentralized oracle networks (DON). Basically, developers can plug into the Chainlink network and request Oracle services.

Multiple nodes respond to the requests, retrieve the requested information for smart contracts, and receive LINK in return, which is Chainlink’s native coin. Chainlink uses multiple node operators to retrieve and verify the data to ensure accuracy.

 oracle network
Chainlink Oracle network: Chainlink Blog

The network uses a consensus mechanism to verify the accuracy of the data provided by the node operators. Nodes collectively validate the data, and the majority consensus determines the final result.

Chainlink gained significant attention and adoption due to its specific focus on providing a secure and flexible decentralized Oracle solution.

Chainlink’s approach, which involves a decentralized network of node operators and multiple levels of data verification, helped address some of the challenges associated with Oracle’s reliability and security.

buy chainlink metrics
Chainlink metrics: CoinMarketCap

Regarding the top cryptocurrencies by market cap, Chainlink ranks pretty high at 14 as of June 21, 2024, with a market cap of $8,336,229,693 and a circulating supply of 587,099,970 LINK.

Chainlink and Polkadot differ in several ways. While Chainlink is a decentralized oracle network, Polkadot is a “layer-0” protocol. In other words, Polkadot can facilitate interoperability between blockchains using the Substrate framework, while Chainlink can facilitate communication between APIs, data sources, and smart contracts.

buy chainlink ecosystem
Chainlink ecosystem: Chainlink blog

Unlike a blockchain, Chainlink’s ecosytem is based on the applications that have integrated the Chainlnik decentralized oracle network. Here is a list of a few applications:

  • SWIFT
  • AWS
  • T-Mobile
  • The Graph
  • Quicknode
  • Infura

Because Chainlink’s LINK token is created using the ERC-20 standard, many crypto wallets will accommodate LINK. Five of the leading choices include:

“The tried-and-true methods are to use a hardware wallet like Ledger or Trezor for long-term holding and set up two-factor authentication on all accounts for added security. Don’t keep large holdings on exchanges long-term. I actually keep most of my Chainlink in a hardware wallet, transferring smaller amounts as needed to my exchange wallet to convert to fiat or trade if desired. Proper security practices can help reduce stress!”



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  • MetaMask: A gateway to web3 and the entire Ethereum-based DApp ecosystem.
  • Ledger: A leading hardware wallet manufacturer, all Ledger models support LINK.
  • Trezor: Another strong hardware wallet contender and a Ledger alternative for those less impressed with the company following a tumultuous 2023.
  • Trust Wallet: The official wallet of the Binance exchange, Trust Wallet is great for beginners and more experienced traders alike.
  • SafePal: Another safe place to store your LINK, SafePal’s wallet includes solid hardware options and the X1, a new Bluetooth-supported open-source wallet.

By participating in LINK crypto staking, users can earn rewards for helping to secure the network and maintain its integrity. The network utilizes competitive crowdsourced audits to ensure the codebase’s security. Additionally, Chainlink staking incorporates a GSO and oversight mechanism, allowing users to make decisions about upgrades, parameter changes, and other aspects of the network.

Here is a quick guide covering buying and selling Chainlink using Coinbase.

1. Firstly, open the Coinbase app and select trade. Look for LINK in the search box.

buy chainlink step 1

2. Secondly, select the “Buy” button and choose the amount you would like to purchase.

buy chainlink step 2

3. Lastly, press “Place Order” to complete your transaction.

buy chainlink step 3
  • Choose a crypto exchange: Select an exchange that supports Chainlink (LINK) and accepts credit card payments. Popular exchanges like Binance, Coinbase, and Kraken often have this option.
  • Create an account: Sign up for an account on the chosen exchange. This process usually requires providing some personal information and email verification.
  • Verify your identity: Most exchanges require identity verification to comply with financial regulations. This process may involve submitting documents like a government-issued ID, passport, or driver’s license.
  • Add your credit card: Link your credit card to your exchange account. This typically involves entering your card details and possibly verifying a small transaction.
  • Deposit funds: You can deposit funds into your exchange account using your credit card. Be aware of any fees that the exchange may charge for credit card use.
  • Buy LINK: Once your account is funded, navigate to the trading section of the exchange. Select chainlink (LINK) as the crypto you want to buy, input the amount you wish to purchase, and execute the transaction.
  • Transfer to a secure wallet (optional): For added security, consider transferring your chainlink tokens to a private wallet you control, especially if you’re planning to hold them for a long time.

Investing in cryptocurrencies can be risky, so it’s important to do your own research (DYOR) and consider your investment goals and risk tolerance. Additionally, buying cryptocurrencies with a credit card might incur additional fees and interest charges, so it’s wise to check these details with both your credit card provider and the crypto exchange.

1. Firstly, open the Coinbase app and press the trade button. Using the search box, find Chainlink.

sell chainlink step 1

2. Secondly, under chainlink, press “Sell,” then choose the amount you want to sell.

sell chainlink step 2

3. Lastly, press “Place Order” to complete your purchase.

sell chainlink step 3

So, is Chainlink’s native crypto worth an investment? Here are some things to consider before you decide whether to buy LINK.

Pros

  • Wide adoption from multiple from TradFi to DeFi
  • A diverse network of node operators to ensure data reliability
  • Multiple other flagship services, such as Chainlink VRF and CCIP
  • Diverse data sources
  • Has a large market dominance in the oracle space

Cons

  • Lack of crypto-economic punishment for malicious oracles
  • Possibility of collusion amongst nodes

If you are a venture capitalist or investor, then LINK might BE a good addition to your portfolio. The project has a clear use case and has secured significant adoption, both in web3 and traditional institutions. Furthermore, Chainlink has secured a large share of the Oracle market, which is another good sign.

Lastly, the team behind Chainlink hasn’t stopped at simple price oracles. Instead, they have created other important services, such as verifiable random functions and cross-chain communication protocols. Holistically, the project looks solid, with good fundamentals in place. However, just because a project looks good on the surface does not necessarily mean it will make you money.

Only buy into projects you believe in, and be sure to determine your risk appetite and plan accordingly. As always, never invest more than you can afford to lose.

If you are interested in investing in LINK, you might also want to check out our LINK price prediction. Our senior experts predict that the price of LINK $20.82 in 2025, and $217.07 in 2030. Note that these prices reflect possibilities as opposed to certainties. For LINK to reach these prices, adoption should continue, and the broader market must recover.

Is there a future for Chainlink?

Chainlink is a powerful protocol that many web3 applications rely on. The decentralized oracle network is the go-to blockchain-specific solution for connecting digital ecosystems with real-world information. As Chainlink expands, with more projects being built across blockchains, it looks key to supplying data to web3 ecosystems in the future.

Frequently asked questions

Why is Chainlink so valuable?

Where can I buy Chainlink crypto?

Is LINK a suitable investment?

Is Chainlink on OKX?

Is Chainlink on Binance?

How can I buy Chainlink in the U.S.?

Why not buy Chainlink?

Is Chainlink better than Ethereum?

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Ryan Glenn
Ryan Glenn is a journalist, writer, and author. Ryan is motivated to educate as many people as possible on the benefits of web3 and cryptocurrency. He has authored “The Best Book for Learning Cryptocurrency,” and runs an educational platform, web3school.us, dedicated to demystifying the crypto space. Ryan built the platform to transition tech-savvy and non-tech individuals into crypto and give everyone a baseline understanding of the different fields in the cryptosphere. Ryan is also an...
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