Chainlink is a leading decentralized protocol that provides oracles for blockchain networks. In simple terms, this means that the project connects smart contract technology with data from the real world.

Chainlink is also behind its very own Defi coin – LINK, which is now a multi-billion dollar digital asset. In this guide, we show you how to buy Chainlink from the comfort of your home.

How to Buy Chainlink — Quickfire Walkthrough to Buy LINK Tokens in Less Than 10 Minutes

The best way to buy Chainlink is to use a decentralized exchange like Pancakeswap. In doing so, you can obtain LINK tokens without needing to use a third-party intermediary.

Follow the steps outlined below to learn how to buy Chainlink in less than 10 minutes!

  • Step 1: Download Trust Wallet: The easiest way to access the Pancakeswap exchange is through the Trust Wallet – which is backed by Binance. As such, download the wallet onto your iOS or Android device.  
  • Step 2: Search for Chainlink: In the top-right hand corner of the app you will see a search box. Enter ‘Chainlink’ into the search box and proceed to the next step. 
  • Step 3: Add Funds to Trust Wallet: In order to buy Chainlink, you will need to add funds to your Trust Wallet. You can do this by transferring digital tokens from an external wallet or by using a debit/credit from within the app to buy crypto.  
  • Step 4: Connect to Pancakeswap: At the bottom of the app, click on ‘DApps’ followed by ‘Pancakeswap’. Then, click on the ‘Connect’ button.  
  • Step 5: Buy Chainlink: Click on the ‘Exchange’ button and from the drop-down box underneath the ‘From’ tab, select the cryptocurrency you wish to swap for Chainlink. Underneath the ‘To’ tab, select ‘Chainlink’ from the drop-down box. Finally, enter the number of LINK tokens you wish to buy and click on the ‘Swap’ button to confirm the trade. 

Once you have completed the swap, your newly purchased Chainlink tokens will appear in your Trust Wallet. You can keep them there until you decide to cash out – which you can also do via the Trust Wallet app. 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

 

How To Buy Chainlink Online — Full Step-by-Step Walkthrough

Make no mistake about it – if you’re a complete newbie in the world of decentralized exchanges and Defi coins – the investment process can be somewhat daunting. In other words, the quickfire guide above might not be sufficient if this is your first time buying Chainlink via Pancakeswap.

As such, in the sections below, we provide a more comprehensive step-by-step guide on how to buy Chainlink.

Step 1: Get the Trust Wallet

Although Pancakeawap is compatible with several cryptocurrency storage options, the best option for beginners and experienced traders alike is the Trust Wallet. As noted above, the wallet is backed by Binance and is now used by millions of digital currency investors. 

As such, the first step is to download the Trust Wallet app via Google Play or the Apple Store. Once installed, open the app and set up your Trust Wallet logging credentials.

This will require you to write down a 12-word passphrase, which you will need in the event you lose your mobile phone or forget your login details. You are also advised to set up a memorable PIN.

Step 2: Add Funds to Your Trust Wallet

Now that you have completed the initial setup process, you will need to add some funds to your Trust Wallet. In doing so, this will allow you to buy Chainlink with ease. In this respect, you have two options. 

Transfer Crypto From an External Wallet

First, if you already have an allocation of digital currency tokens in an external wallet, you can transfer the coins into Trust Wallet.

  • To do this, click on the ‘Receive’ button and select the cryptocurrency you wish to use.
  • Then, you will be shown the unique wallet address for the respective token.
  • Copy it and head over to your external wallet.
  • Paste the address in, select the number of coins you wish to transfer, and confirm the transaction.

The coins should appear in your Trust Wallet within 10-20 minutes.

Add Funds With a Debit/Credit Card

If you are learning how to buy Chainlink for the first time, then you might not have any cryptocurrency to hand. If this is the case, the good news is that Trust Wallet allows you to add funds to your account via a debit/credit card.

  • If this is the option you wish to take, click on the ‘Buy’ button at the top of the Trust Wallet app.
  • Then, you will be presented with a list of coins that you can buy with your debit/credit card.
  • It’s best to go with the Binance Coin (BNB), albeit, you might also consider Bitcoin or Ethereum.
  • As you are using fiat money to buy crypto, you will need to go through a quick KYC (Know Your Customer) process.
  • This will require you to enter your personal information and upload a copy of your government-issued ID.
  • Next, enter your debit/credit card details, the amount of crypto you wish to buy, and confirm the transaction.

The coins should appear in your Trust Wallet instantly.

Step 3: How to Buy Chainlink via Pancakeswap

At this stage of your walkthrough, you should now have digital tokens in your Trust Wallet. If so, you can now proceed to buy Chainlink by completing a direct swap. 

  • First, click on click on the ‘DEX’ button and ensure that the ‘Swap’ tab is selected.
  • Next to the ‘You Pay’ tab, select the digital currency that you wish to use to pay for your LINK tokens.
  • This will be the coin that you transferred in or bought with your debit/credit card in Step 2.
  • You also need to select the number of coins you wish to swap into Chainlink.
  • Next to the ‘You Get’ button, select Chainlink from the drop-down list.

Based on the number of tokens you entered underneath the ‘You Pay’ tab, you will now see how many LINK tokens you will get. Finally, click on the ‘Swap’ button to buy Chainlink!

And that’s it – you’ve just bought Chainlink tokens via Pancakeswap!

Step 4: How to Sell Chainlink

At some point in the future, you will likely want to sell your LINK tokens to realize any financial gains that you have made. There are two options that you might consider depending on what your end strategy is. 

  • If, for example, you want to sell Chainlink into another currency – then you can once again use the swap tool via Pancakeswap. 
  • This works in exactly the same way as the purchase process-  but in reverse. 
  • With that said, if you want to learn how to sell Chainlink into fiat money – you will need to use a third-party exchange.

For this, you might consider using the main Binance platform. All you need to do is transfer the coins into Binance, sell them into fiat currency, and proceed to request a bank account withdrawal. You will, however, need to go through a KYC process with Binance to access fiat withdrawal facilities – as per anti-money laundering laws.

Where to Buy Chainlink Online

Chainlink is now a multi-billion dollar digital asset – so you’ve got plenty of options when it comes to making a purchase. With that said – and as we explained in our how to buy Chainlink walkthrough above, Pancakeswap is arguably the best option on the table. 

Here’s why:

Pancakeswap — Buy Chainlink With a Decentralized Exchange

Perhaps the main benefit of choosing Pancakeswap is because the platform offers decentralized exchanges services. In a nutshell, this means that you can buy Chainlink without needing to through a centralized entity. On the contrary, you will be swapping your chosen digital currency into LINK tokens directly.

In terms of getting started, you will first need to obtain a cryptocurrency wallet that is compatible with the Pancakeswap network. There are plenty of options in this respect, albeit─ Trust Wallet is arguably the best. Other popular wallets that you can connect to Pancakeswap include TokenPocket, Metamask, MathWallet, and SafePay Wallet.

Once you have connected your chosen wallet, you can easily add funds to pay for your Chainlink purchase. The fastest way is to transfer digital coins from an external wallet. You can, however, also use a debit or credit card – if you elected for Trust Wallet. This allows you to buy a cryptocurrency with fiat money and then swap it into Pancakeswap. If using a debit/credit card, you will need to upload a copy of your government-issued ID.

On top of Chainlink, Pancakeswap supports a significant number of other digital tokens. Not only does this include major cryptocurrencies like Bitcoin and Ethereum, but heaps of Defi coins. We also like the fact that Pancakeswap allows you to earn interest on your idle digital tokens. This is because you will be providing the exchange with liquidity and thus – will earn staking rewards.

Pros:

  • Exchange digital currencies in a decentralized manner
  • No requirement to use a third party when buying and selling cryptocurrency
  • Supports a sizable number of digital tokens
  • Allows you to earn interest on your idle crypto funds
  • Sufficient levels of liquidity – even on smaller tokens
  • Prediction and lottery games


Cons:

  • Might appear daunting at first glance for newbies
  • Does not support fiat payments directly

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

Ways to Buy Chainlink?

There are several ways in which you can buy Chainlink. The method you opt for will depend on several factors - such as your preferred payment method and whether you prefer to use a decentralized or centralized exchange. 

To help clear the mist, below we discuss the best ways to buy Chainlink in 2021.

Buy Chainlink With Debit/Credit Card

If you want to buy Chainlink with a debit card, you will first need to obtain a popular cryptocurrency like Bitcoin or Ethereum. Then, it's a case of swapping the cryptocurrency into Chainlink via the Pancakeswap DEX.

  • If you wish, you can buy cryptocurrency via Trust Wallet with a debit or credit card directly from within the Trust Wallet.
  • Once you have completed the purchase, you can then connect your Trust Wallet to Pancakeswap.
  • In doing so, all you need to do is swap the cryptocurrency you purchased with your debit/credit card into Chainlink.

Take note, irrespective of which platform you use to buy Chainlink with a debit/credit, you will need to go through a KYC process. As we noted earlier, this means that you must upload a clear copy of your government-issued ID - which can usually be a passport or driver's license. This means that you won't be able to buy Chainlink anonymously.

Buy Chainlink With Crypto

If you already have some crypto to hand, then buying Chainlink is not easier - but you can do so without needing to go through a KYC process. Instead, you simply need to swap the digital asset into Chainlink via the Pancakeswap DEX.

You will, however, first need to connect Pancakeswap to your a supported wallet. Once again, Trust Wallet is the best option here. As such, transfer the cryptocurrency you wish to use into Trust Wallet, connect to the Pancakeswap DEX, and complete the swap.

Should I Buy Chainlink?

If you're still unsure whether you should buy Chainlink - it's best to take a step back and perform some independent research.

This will allow you to consider both the pros and cons of LINK and ultimately - make an informed decision as to whether or not you should add this Defi coin to your crypto portfolio. 

To help you along the way, below we discuss some of the main considerations that you need to make when thinking about how to buy Chainlink.

Huge Gains Since 2017 Launch

The LINK token first hit public cryptocurrency exchanges in late 2017 - which makes it one of the most established Defi coin projects in this industry. Back then, you would have paid just under $0.17 per LINK token. Although the project had a somewhat slow and steady start to life as a tradable financial instrument - things really began to take off in 2021.

In fact, in May 2021, Chainlink breached all-time highs by hitting a price of just over $52 per token. To put this price increase into perspective, this means that had you purchased LINK tokens when they were first launched in late 2017 - you would have been looking at gains of over 30,000%.

This means that an initial investment of just $500 would have been worth over $150,000 when Chainlink hit its all-time high price earlier this year.

Buy the dip While you can

The Defi and wider cryptocurrency markets have cooled off somewhat since the parabolic bull run we saw in the first half of 2021. This is great news for those of you that want to buy Chainlink, not least because you can now enter the market at a much more favorable price.

  • For example,  at the time of writing in early July 2021, you can now buy Chainlink for just $18 per token.
  • In comparison to the previously discussed all-time high price of $52, this means that you can enter the market at a discount of 65%.

This also gives you a short-to-medium Chainlink price target to consider. For example, if you believe in the long-term prospects of this decentralized finance project and think that LINK will eventually surpass a price of $52, then this would require an upside of almost 190%.

Oracles are Crucial for Smart Contract Technology

Smart contract technology is a hugely impressive phenomenon - as the framework allows people to enter into agreements without needing to trust each other.

  • This is because the smart contract will execute transactions based on pre-defined conditions that all parties have agreed to.
  • However, the only way that smart contracts can obtain data from the real world is through oracles.
  • This essentially allows smart contracts and blockchains to obtain real-time information and thus - execute autonomous transactions once consensus has been achieved.

The leading provider of smart contract oracles is undeniably Chainlink. After all, the project got a huge head start on its competitors, not least because Chainlink has been operational since 2017. Therefore, as more and more blockchains elect to use its oracle technology, this can only be a good thing for the long-term value of LINK tokens.

Chainlink Price Prediction

Chainlink - like the vast bulk of digital currencies, is highly speculative. This means that the value of your LINK investment will largely be driven by market speculation and FOMO (Fear of Missing Out). With this in mind, attempting to make a Chainlink price prediction is no easy feat.

You will no doubt come across a number of so-called experts in the online space that make bold and wild predictions - but rarely can this be backed up by tangible data. As such, take Chainlink price predictions with a pinch of salt.  

Risks of Buying Chainlink

Like all cryptocurrency investments, you need to consider the risks before you proceed to buy Chainlink. The main risk is, of course, that the value of LINK tokens declines in the open marketplace. If this does happen and you decide to cash out - you will get less than what you originally invested.

  • This is why it's important to consider taking a risk-averse approach to Chainlink, which you can do by keeping your stakes modest.
  • You might also consider adopting a dollar-cost averaging strategy - which will see you buy Chainlink in small but regular amounts.
  • It's also a good idea to diversify your Chainlink investment by also buying a number of other Defi coins.

All in all, just make sure you perform lots of independent homework before you buy Chainlink.  

Best Chainlink Wallets

Once you have obtained LINK tokens, you need to think about how you intend  keeping your digital assets safe and secure. To do this, you'll want to choose a suitable wallet that offers the perfect blend between security and convenience.

Below you will find a selection of the best Chainlink wallets in the market right now.

Trust Wallet - Overall Best Chainlink Wallet

We found that the Trust Wallet is the overall best Chainlink wallet in the market. Backed by leading cryptocurrency exchange Binance, this wallet can be downloaded onto your iOS and Android device free of charge. On top of offering a number of key security features, the Trust Wallet is also super-convenient.

For example, you can send and receive funds at the click of a button, as well as buy crypto with a debit or credit. You can also connect your Trust Wallet to the Pancakeswap DEX. This allows you to swap digital currencies in a decentralized and low-cost manner.

Ledger Nano - Best Chainlink Wallet for Security

If you are a long-term investor or you are buying a large number of tokens, then the best Chainlink wallet for you could be Ledger Nano. Crucially, this hardware wallet offers institutional-grade security of your crypto funds.

  • After all, the Ledger Nano remains offline at all times - meaning it is never connected to a live server. 
  • Plus, if you want to transfer funds out of the wallet, you need to physically enter your PIN on the device.
  • If the wallet is lost, stolen, or damaged - your Chainlink tokens can be recovered remotely.

This can be achieved through the backup passphrase you were given when you first set the wallet up.

How to Buy Chainlink - Bottom Line

This informative guide has explained the step-by-step of how to buy Chainlink from the comfort of your home. We concluded that the best way of doing this is to use a decentralized exchange like Pancakeswap.

In doing so, you can buy LINK tokens without needing to use a centralized intermediary. Plus, the end-to-end investment process should take you no more than a few minutes to complete.

Buy Chainlink Now via Pancakeswap

 

 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

FAQs 

 

How much is Chainlink?

The price of LINK tokens will vary throughout the day - much like all digital tokens. At the time if writing in early July 2021, Chainlink is trading at just over $18 per token.

Is Chainlink a good buy?

Chainlink is one of the most prominent digital tokens in the wider Defi coin arena. After all, it provides real-world data to blockchains and smart contracts via its oracle technology. Although Chainlink is already carrying a multi-billion dollar market capitalization, there is arguably still plenty of upside potential on the table. On the other hand, there is no guarantee that you will make money when buying Chainlink, so always consider the risks.

What is the minimum Chainlink tokens you can buy?

Chainlink can be fractionated, so you can normally buy any amount that you like. For example, if Chainlink is priced at $18 and you only invest $9 - this means that you will own 50% of one LINK token.

What is the Chainlink all-time high?

Chainlink last hit an all-time high in May 2021 - whereby the tokens breached a price of $52.

How do you buy Chainlink tokens using a debit card?

It's best to buy Chainlink via a decentralized exchange like Pancakeswap. If, however, you don't currently hold any digital tokens, you can purchase some with a debit/credit card through the Trust Wallet. Then, after connecting your Trust Wallet to Pancakeswap, you can proceed to buy Chainlink.

How many LINK tokens are there?

There is a maximum supply of 100 billion LINK tokens. At the time of writing in July 2021, there are just over 437 million LINK tokens in circulation.