Chainlink is a decentralized oracle network that provides data from off-blockchain sources to the on-blockchain smart contracts. These oracles work as bridges between blockchain networks and real-world data. Chainlink oracles are widely used in the DeFi sector to provide useful data for smart contract execution.
LINK token is used to pay for the oracle services in the Chainlink network. Prices for the oracle services are set by the Chainlink node operator and depend on the data that should be provided. Also, Chainlink nodes should stake LINK in the network to demonstrate their validity and network commitment.
How it works?
Where to buy Chainlink token?
Chainlink is expanding on the geographical markets and is available on a lot of crypto exchanges. But before looking for where to buy Chainlink coin, you need to make sure that the cryptocurrency exchange is reliable, regulated, secured, and supports many options to buy Chainlink. CEX.IO meets all these requirements and you can also benefit from high liquidity markets, user-friendly services, and a decent number of available payment options.
On CEX.IO, it is possible to buy LINK with a debit and credit card, international (SWIFT), domestic (ACH, SEPA, Faster Payments) bank transfer, and online wallets (Skrill, QIWI). You can also exchange LINK for receiving fiat currency such as USD, GBP, EUR.
How to buy Chainlink with a credit card?
One of the most convenient ways how to buy LINK coin is the Instant Buy service which allows you to buy cryptocurrency in a few minutes. To do that, you need to choose Chainlink from the list of available cryptocurrencies and then select the fiat currency you want to buy with. With the Instant Buy service, it is also possible to buy Ethereum with a credit card and dozens of other cryptocurrencies.
You can even use the card with your local currency to buy Chainlink via the Instant Buy service. Just make sure that your card supports international transactions and currency conversions. Your local currency will be converted to the currency you selected on CEX.IO on your bank’s exchange rate.
After selecting the pair, you can use pre-calculated packs or enter the amount you want to buy. Then you need to enter the details of the debit or credit card to verify and confirm the transaction.
That’s all! Only a few steps separate you from becoming an owner of Chainlink tokens. Please note that you can use only personal Mastercard and Visa cards. Make sure that you don’t use prepaid, business and gift cards to buy cryptocurrency.
Another option to make a purchase is pay using your available CEX.IO balance. For that, you’ll need to make a deposit first, or sell your cryptocurrencies and keep the fiat precedes on your CEX.IO balance.
How to buy Chainlink with a debit card?
Besides the Instant Buy service, you can also place an order on the Trade page or in the mobile app to buy LINK. If you want to trade cryptocurrencies, at first, you need to add funds to your balance. You can do that with debit and credit cards as well. But also, you can deposit your account by using other payment options available at CEX.IO and choose the one that suits you best.
After funding the account, you can start trading in the pair with Chainlink. If you want to change one currency to another with no effort, then pay attention to the Exchange service in the mobile app. It allows you to swap different crypto and fiat currencies from one to another even if there is no direct currency pair on the exchange.
How to trade LINK?
To buy Chainlink by placing an order, at first, you need to select the market. There are several crypto-to-crypto and crypto-to-fiat markets available for Chainlink at CEX.IO. On the Trade page, you can also find more than 100 other currency pairs such as Ethereum to USD or BTC/USDT.
After choosing the appropriate market, you’ll see the most important information about the market that should help you to make trading decisions. For instance, last price, OHLC price chart, market volume, market depth chart, order book, and other information.
By placing an order, look closely at the type of the order. There are market and limit orders that have some important differences. The market order is executed instantly for the best available price in the order book for this market. Due to its immediate execution, It can’t be reversed and canceled. The limit order can be canceled and you can set the price you want to buy or sell with but its execution is not always instant. The reason is that there should be the opposite orders in the order book that can match your order for the specified price. Or you should wait until the market itself reaches the specified price.