The Chainlink (LINK) token is up by 8% in the past 24 hours and has seen high trading volumes indicating strong accumulation by whales
The Chainlink token is currently trading at $26.57 and is up by 8% in the past 24 hours. The token could possibly rise by another 5-10% if the volumes keep building up. The LINK coin has the potential to see a strong price spike once the whales start accumulating huge quantities.
How & where to buy Chainlink in the UK and elsewhere
To purchase LINK, you will need to register a trading account on a crypto exchange/broker platform. All you need to do is submit your full legal name, email address and phone number. Then, verify the account by submitting copies of your driving licence and utility bill. Some sites may also ask for additional verification through a selfie or a video call. This requirement is in keeping with the Know Your Customer (KYC) norms. It helps in securing the site for all users. Once done, you can deposit funds and start trading.
Avoid using decentralised exchanges as they are unregulated. For your convenience, we have handpicked two of the best platforms for trading.
As LINK is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LINK using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LINK right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and ‘connect’ your wallet to it.
4. You can now swap your ETH for LINK
Now that you’re connected, you’ll be able to swap for 100s of coins including LINK.
What is Chainlink?
Chainlink is a decentralised oracle network that allows off-chain data integration. The blockchain network has become very popular and the LINK token has seen a considerable price increase as adoption has increased. Recently, a fintech firm, Spartan Hill announced that Chainlink’s price feeds will be used to power a South American Peso based stablecoin called Daily.
Should I buy LINK today?
The Chainlink token could be heading for another rally if the bulls can sustain the current price surge. The early holders of the Chainlink token could see huge gains in the future if the token’s price continues to rise.
The LINK token has the potential to rally further on the back of huge volume build up. The coin could very well breach the $30 resistance level in the short term.
This article is informational only—none of the contents should be construed as financial or investment advice.