How to Buy Chainlink (LINK)

In fact, the software is specifically designed to link smart contracts running on top of blockchains to services providing APIs, payments and the confirmation of real-world events so developers can better build a wider variety of products and services. 

Should Chainlink prove to solve key problems for smart contract users, it could become an essential tool in merging blockchains with each other and with real-world applications. 

Still curious about how Chainlink works? Feel free to read our ‘What is Chainlink?’ guide, which offers a more extensive breakdown of its technology and vision. 

The LINK cryptocurrency plays a key role in maintaining and operating the Chainlink network. 

For example, it is awarded as an incentive to the computer operators who report external data to its contracts and spent by users whenever they want to access this data.

Like many other cryptocurrencies, the supply of LINK tokens is also limited, meaning that according to the software’s rules, there will only ever be 1 billion LINK.  

There are a number of ways to buy LINK. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken. 

Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your LINK, it can be challenging if not impossible to recover your funds. 

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you. 

Follow the steps below to start buying LINK on Kraken: 

1. Sign up for a Kraken account.
   First, enter an email address, create a new username and set a strong password to protect your account.

2. Verify your account.
   After providing your name, date of birth, country of residence and phone number, you can buy LINK with cryptocurrencies like LTC and DASH. In order to use cash (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.

3. Deposit cash.
   You can fund your Kraken account in a number of ways. How you do so will depend upon your location and preferences.

4. Purchase LINK!
   Once your account is funded with cash, you’re ready to buy LINK. You’ll also get access to our advanced charting tools, 24-hour global client support and margin* and futures trading**. All of these features are why millions of global traders love Kraken.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

**Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken’s risk disclosure to learn more.

 

Once you buy LINK, you’ll need somewhere to safely store your cryptocurrency. 

Kraken is secure, but it’s always safest to store your LINK in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.

There are many types of LINK wallets available. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage. 

When choosing a crypto wallet for your LINK, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
 

Ready to take the next step towards owning LINK and investing in smart contract development platforms? Click the button below to buy LINK on Kraken today!