Chainlink is one of the most notable digital tokens in the decentralized finance (Defi) space – not least because it provides other blockchain protocols with real-time data. Known as ‘Oracles’ – this data is crucial in connecting the blockchain industry with the real world.
If you like the sound of Chainlink and wish to invest in its LINK token – this guide is for you. Within it, not only do we show you how to buy Chainlink in the UK – but we also reveal the best crypto brokers to complete your purchase with.
#1 Broker to Buy Chainlink – eToro
How To Buy Chainlink UK – Choose a Broker
Below you will find a list of the best brokers that allow you to buy Chainlink in the UK.
- eToro – Overall Best Broker to Buy Chainlink UK
- Coinbase – Best Broker to Buy Chainlink for Beginners
- OKEx – Best Low-Cost Broker to Buy Chainlink UK via a Crypto Deposit
- Binance – Best Broker to Buy Chainlink for Asset Diversity
- Coinjar – Best Broker to Buy Chainlink UK for Those on a Budget
By scrolling down, you will find a full review of each of the above LINK trading platforms.
How to Buy Chainlink in the UK – A Quick Guide For 2021
Looking to buy Chainlink in the UK right now without reading through our detailed walkthrough? If so, simply follow the 4-step guide below to invest in LINK tokens in less than five minutes!
- Step 1: Open an Account with eToro – The best broker to buy Chainlink tokens from is eToro – not least because the low-cost platform is regulated by the UK’s FCA. To get started with eToro, visit the provider’s homepage and open an account.
- Step 2: Upload Your ID – Upload a copy of your passport or driver’s license to verify your newly created eToro account.
- Step 3: Deposit Funds – Before you can buy LINK tokens, you will need to meet a minimum first-time deposit of $200 (about £145). Choose from a debit/credit card or e-wallet to benefit from an instant deposit.
- Step 4: Buy Chainlink – The final step is to enter ‘Chainlink’ into the search bar, click on the ‘Trade’ button, and specify the amount you wish ot invest (minimum $25 – about £18).
After checking the information entered, click on the ‘Open Trade’ button to complete your Chainlink investment!
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Where to Buy Chainlink in the UK
One of the most challenging aspects when learning how to buy Chainlink in the UK is knowing which broker to use. With so many providers in this space competing for your business – separating the wheat from the chaff has never been more difficult.
With this in mind, below we review the best online brokers that allow you to buy LINK tokens in the UK.
1. eToro – Overall Best Broker to Buy Chainlink UK
Make no mistake about it – the best platform to buy Chainlink in the UK is eToro. This top-rated brokerage firm is not only regulated by the FCA, but ASIC and CySEC too. This makes eToro one of the very few cryptocurrency brokers to hold that all-important FCA license. As such, you can buy Chainlink in the UK safely. To get the ball rolling, you will need to first open an account with eToro – which takes minutes.
Then, you can deposit funds into your account – with several supported payment methods on offer. This is inclusive of a UK bank transfer, debit/credit card, or an e-wallet like Paypal. The deposit fee here is just 0.5% – which is the cheapest we have come across in the crypto space – at least in terms of using a debit or credit card. Once your account is funded, you can buy Chainlink in the UK on a spread-only basis. In simple terms, this means that the trading fee payable is the difference between the buy and sell price of LINK tokens.
We also like the fact that you can buy from just $25 worth of Chainlink. This means that you can use the rest of your balance to diversify across different crypto assets. At eToro, there’s plenty to choose from in this department – with the likes of Bitcoin, EOS, Ripple, Uniswap, Decentraland, and Ethereum, and more. If you don’t have much experience in the cryptocurrency world and wish to invest passively – you might want to consider an eToro CryptoPortfolio. As the name suggests, this is a diversified cryptocurrency portfolio that is managed by eToro.
The other passive investment tool at eToro is CopyTrading. This allows you to copy an eToro user specifically. For example, if the user buys Ethereum, Ripple, and Chainlink – you will do the same (at a proportionate amount). eToro is also a great option if you want to invest in other assets. This includes over 2,500 stocks from 17 UK and international exchanges. You can also buy ETFs and even trade forex, commodities, and indices. Finally, it’s also worth downloading the eToro app once you have signed up – as this allows you to buy and sell assets on the move.
Pros
- Invest in cryptocurrencies on a spread-only basis
- Buy thousands of UK and international stocks at 0% commission
- Minimum investment per trade from just $25
- Supports debit/credit cards, e-wallets, and local bank transfers
- Regulated by the FCA, CySEC, and ASIC
- Used by over 20 million people
- Perfect for beginners
- Social and copy trading tools
Cons
- Perhaps too basic for technical traders
- No support for MT4 or MT5
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
2. Coinbase – Best Broker to Buy Chainlink UK for Beginners
Coinbase is often regarded as the go-to platform for newbie cryptocurrency investors. The platform is well-regulated, supports various payment types, and crucially – is very simple to use. The process of getting started requires you to open an account – which will require some basic personal information and your mobile number/email address.
After that, Coinbase will ask you to upload a copy of your passport or driver’s license. This is to ensure the broker complies with anti-money laundering laws. Once you are fully set up – you can then proceed to buy Chainlink in the UK with your UK debit card. This is processed as an ‘Instant Buy’ – meaning that you can purchase LINK tokens directly. All you need to do is specify your desired investment amount, enter your debit card details, and confirm the transaction.
You will then see the Chainlink tokens appear in your Coinbase wallet in a matter of seconds. Coinbase also supports bank account deposits. This isn’t processed instantly, as it can take 1-3 days for the funds to arrive. Once the money does appear in your Coinbase account, you can proceed to buy LINK tokens. When it comes to fees, instant debit card purchases cost 3.99% – which is on the side of expensive. Bank transfers are fee-free, but you will be charged a commission of 1.49% once you complete your LINK buy order.
Pros
- One of the most popular cryptocurrency exchanges
- More than 35 million users
- Supports instant debit card purchases
- Dozens of digital currencies to choose from
- Institutional-grade security practices
Cons
- Debit card deposits are expensive at 3.99%
- You will pay a standard trading commission of 1.49%
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
3. OKEx – Best Low-Cost Broker to Buy Chainlink UK via a Crypto Deposit
OKEx is another option to consider when learning how to buy Chainlink in the UK. The platform – which has since been used by over 20 million people from over 200+ countries, supports deposits in the form of crypto and fiat. If opting for the former, this means that you will be transferring a digital token like Bitcoin into your OKEx wallet and then exchanging it for Chainlink.
This option will not require you to provide any personal information or crucially – upload KYC documents. Plus, by exchanging a crypto into LINK tokens, the commission stands at a mere 0.10% per slide. The other option you have at OKEx is to use your debit/credit card. Although OKEx only supports a small number of digital tokens that can be directly purchased in this way, this does include Chainlink. As such, you can instantly invest in LINK tokens by using a Visa or MasterCard.
Naturally, as you will be using ‘real’ money to fund your Chainlink purchase, you will first need to provide some personal information and then upload a copy of your passport or driver’s license. In most cases, OKEx will verify your documents on a same-day basis. In addition to LINK, OKEx is home to plenty of other digital assets. In fact, the platform supports over 400+ crypto-to-fiat and crypto-cross pairs. OKEx also offers a free education facility and the ability to earn interest on your crypto holdings.
Pros
- Trusted crypto exchange with over 20 million users
- More than 400+ digital currency pairs
- Buy and sell cryptocurrencies with a debit/credit card or bank transfer
- Low commissions that start from 0.1%
- Fully-fledged mobile app on Android and iOS
- Great reputation and highly secure
Cons
- Debit/credit card fees could be more competitive
- Derivative products are too complex for beginners
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
4. Binance – Best Broker to Buy Chainlink UK for Asset Diversity
Binance is another online cryptocurrency broker that allows you to buy Chainlink in the UK with a debit or credit card. Much like Coinbase and OKEx, the platform offers an Instant Buy service. This means that you can directly invest in LINK tokens with your Visa or MasterCard – without needing to use the OKEx exchange. For this, you will pay a somewhat reasonable payment fee of 1.8%.
Compared to Coinbase and its 3.99% fee – this will save you a sizable amount. However, don’t forget that you will only pay 0.5% when using eToro – which is regulated by the FCA. Nevertheless, Binance also allows you to pay for your LINK token purchase by using an alternative cryptocurrency. Heaps of markets are supported in this respect – including LINK/BTC, LINK/ETH, LINK/USDT, and LINK/BNB. The commission charged to exchange crypto into Chainlink is just 0.10%.
In terms of reputation, Binance is home to over 100 million users and it facilitates the largest volume of cryptocurrency transactions. This often runs into the tens of billions of pounds per day. However, some regulators – including the FCA, have since come forward to note that Binance doesn’t have the legal remit to offer cryptocurrency brokerage services. This is why at ther time of writing, it is no longer possible to deposit or withdraw funds via the UK’s Faster Payments network. As such, bear this in mind before proceeding.
Pros
- Facilitates billions of pounds in daily trading volume
- Supports hundreds of digital asset pairs
- Near-instant deposits via debit/credit cards and local bank transfers
- Trading commission starts at just 0.1% per slide
- Offers crypto savings accounts
- Ideal for both beginners and experienced traders alike
Cons
- Not all supported cryptocurrencies can be purchased with a debit/credit card
- No e-wallet deposits or withdrawals
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
5. Coinjar – Best Broker to Buy Chainlink UK for Those on a Budget
Last – but certainly not least, is Coinjar. This online broker and exchange is popular with inexperienced investors – as the platform itself is clean, crisp, and very simple to navigate. Coinjar also supports small deposit amounts – which again, is why it is often favored by newbies. In order to buy Chainlink in the UK at Coinjar, the minimum funding amount is just £5. You meet this minimum with your debit/credit card or bank transfer.
If electing to use your debit or credit card, you can instantly buy Chainlink without needing to use the Coinjar exchange. Although this is a convenient way of paying for your purchase, you will be charged a total commission of 2%. This amounts to £20 for every £1,000 invested. If you want to deposit funds via a UK bank transfer, Coinjar supports the Faster Payments network. This means that the funds should arrive in less than a minute – with Coinjar charging no transaction fees on this payment method.
Once the funds do arrive, you can then buy Chainlink via the Coinjar exchange. This is a slightly cheaper way of investing in LINK tokens, as the commission amounts to 1%. Coinjar is also popular with UK residents as the platform supports automated crypto purchases. All you need to do is select the digital token you wish to buy, the amount, and how often you want to invest. For example, you might decide to buy £50 worth of LINK tokens every Friday.
Pros
- Has been active in the crypto brokerage arena since 2013
- Very user-friendly platform – so perfect for beginners
- Mininmum deposit of just £5
- No fees to deposit funds via Faster Payments
- Debit/credit cards also supported
- Top-rated mobile app
Cons
- Too basic for experienced cryptocurrency traders
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
How to Buy Chainlink in the UK – Detailed & Explained in Full
Earlier in this guide on how to buy Chainlink in the UK – we run you through the investment process via a quickfire walkthrough. With that said, this might not be sufficient enough if you are buying digital assets online for the very first time. If this sounds like you – below we offer a much more detailed and explained guide on how to invest in Chainlink.
Note: For our detailed walkthrough of how to buy Chainlink in the UK we show you the steps required with eToro. This is because the broker offers low fees, lots of supported payment methods, and crucially – is regulated by the FCA.
Step 1: Open a Crypto Broker Account
Opening an account at eToro is both simple and fast. All you need to do is provide some personal information and contact details – such as your name, address, date of birth, and mobile number.
You also need to select a username and a strong password. Finally, verify your email address and mobile number to complete the eToro registration process.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2: Verify Your Account
eToro actually allows UK residents to buy Chainlink without ID. However, this does need to be done before you can withdraw funds out of your eToro account – or deposit more than $2,250 (about £1,600).
As such, it might be worth uploading the required documents now so that you can begin your Chainlink investment journey with a fully verified account. The required documents include a government-issued ID (passport or driver’s license) and a proof of address (utility bill or bank account statement).
Step 3: Add Funds
You need a funded eToro account to buy Chainlink. As such, follow the on-screen instructions to make a deposit.
eToro supports debit/credit cards, UK bank account transfers, and several e-wallets (including Paypal). The minimum deposit is $200 and you will pay an industry-leading transaction fee of just 0.5%.
Step 4: Search for Chainlink
At this stage of our detailed step-by-step walkthrough on how to buy Chainlink – you should have an eToro account that is funded with a minimum balance of $200.
Next, you will need to search for Chainlink to go straight to the relevant investment page.
Step 5: Buy Chainlink UK
Once you have searched for Chainlink, click on the blue ‘Trade’ button to load up a buy order form. All this requires from you is your desired investment amount – which needs to be at least $25.
To complete your LINK token investment, click on the ‘Open Trade’ button. And that’s it – you’ve just bought Chainlink in the UK!
Buy Chainlink – Best Place to Buy Chainlink in the UK
Below we explain the two main ways in which you can buy Chainlink in the UK. Be sure to read through each section so that you can assess the best place to buy LINK in the UK – as per your personal requirements.
Online Cryptocurrency Broker
In a nutshell, cryptocurrency brokers are regulated entities that allow you to buy Chainlink in the UK directly. By this, we mean that you will not be required to trade with another market participant. On the contrary, you can use your debit/credit card to invest in this digital token directly from the broker.
Crucially, by using a broker (as opposed to an exchange) – you will likely have regulatory oversight from a reputable financial body. For instance, eToro is regulated by the FCA, ASIC, and CySEC – so the platform is as safe as it gets.
Cryptocurrency Exchange
Experienced traders will sometimes use a cryptocurrency exchange to obtain their desired token. This is usually only an option if you are already in possession of a crypto asset. For example, you might have some XRP or Bitcoin Cash tokens in a private wallet – which you wish to exchange into LINK.
If this is the case, you can use a cryptocurrency exchange without upload any ID. You will also find that commissions are rock-bottom, with the likes of OKEx charging just 0.10%. Just make sure you check the regulatory standing of the Chainlink exchange before proceeding – as many providers in this arena are unlicensed.
Ways to Buy Chainlink UK
If you haven’t thought about the many ways in which you can buy Chainlink in the UK – read through the mini-sections outlined below.
Buy Chainlink With Debit Card
All of the five brokers and exchanges discussed on this page allow you to buy Chainlink with a debit card. You will need to open an account and go through a KYC process first – which requires a copy of your ID. Fees will vary on debit card purchases, so be sure to check this before choosing a platform.
Buy Chainlink with Debit Card at eToro From $25 Now >
Buy Chainlink With Credit Card
Credit cards are also an option when investing in digital tokens like Chainlink. The process is much the same as described above in our section on debit cards, albeit, there are a few quick considerations to make.
- First, check whether your credit card issuer permits cryptocurrency investments
- If it does, check whether a cash advance fee applies. This is important, as cash advance fees will attract an additional charge of 3-5%
Finally, remember that investing in Chainlink on credit is risky – as the value of the digital token can drop by a considerable amount. If it does, you will still need to repay the full amount to your credit card issuer.
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Buy Chainlink With Paypal
If you want to buy Chainlink with Paypal – you’re in luck. This is because FCA-regulated broker eToro not only supports Paypal – but Skrill and Neteller.
Buy Chainlink with PayPal at eToro From $25 Now >
Buy Chainlink With Bitcoin
You can also buy Chainlink with Bitcoin – and many other digital currencies for that matter. You’ll need to deposit your crypto into an exchange and then swap it for Chainlink. If a market isn’t supported by your chosen exchange, you might need to place an additional trade. For example, you might deposit funds with Uniswap, exchange this into Bitcoin, and then swap BTC into Chainlink.
Buy Chainlink at eToro From $25 Now >
Why Buy Chainlink UK?
If your primary objective right now is to invest in Chainlink but you are yet to perform any research – you might want to pause. Cryptocurrencies are highly volatile – so considering the potential risks and rewards is important before you proceed.
To point you in the right direction, below we explain why you might decide to buy Chainlink in the UK.
Huge Financial Gains Since Launch
Before we get to the technology itself, it’s important to discuss just how much the value of Chainlink has grown since the digital token was launched in 2017. When the token first hit exchanges, it was trading at just $0.16 per token. Fast forward to May 2021 – and LINK tokens hit an all-time high of $52.88.
This means that in just under four years of trading, Chainlink increased in value by over 32,000%. This means that had you invested £2,000 into Chainlink back in September 2017 – and cashed out at its peak in May 2021 – your money would have been worth over £640,000. This illustrates just how lucrative cryptocurrency investment can be when you select the right coin at the right time.
Oracles
Irrespective of which digital currency you are buying – it’s absolutely crucial that you understand what it is the project aims to achieve. After all, this will determine whether the cryptocurrency stands the test of time.
- In the case of Chainlink, the platform specializes in ‘oracles’.
- In its most basic form, oracles allow blockchain protocols to connect with the real world.
- Chainlink is at the forefront of this innovative phenomenon, as its oracle and smart contract technology has the capacity to feed real-time and real-world data to multiple blockchains.
And of course, the currency that fuels the Chainlink ecosystem is LINK – so the more blockchains that use the technology the better this will be for the long-term value of the digital token.
LINK is Considered Cheap
The likes of Bitcoin, Ethereum, Maker, Yearn.finance, and Wrapped Bitcoin will all cost you over $1,000 to buy a full token. In the case of Bitcoin specifically, the digital currency has since hit highs of over $62,000. Unless you have a considerable amount of capital at your disposal – alongside a high tolerance for risk, you likely won’t want to invest this much into a digital currency.
Fortunately, Chainlink is considered to be a ‘cheap’ digital asset, insofar that as of mid-2021 – you can buy a full token for less than $20 – or about £15. As a result, a relatively modest investment of £150 would get you approximately 10 LINK tokens. If the digital asset is able to get back to its previous all-time high of $52.88 – this represents a very attractive upside potential.
The Cost of Buying Chainlink
All online brokers will charge you a fee to buy Chainlink in the UK. The question is how much – as fees vary from broker to broker.
The main fees to look out for when investing in LINK tokens in the UK are as follows:
Deposit Fees
You will likely need to pay a deposit fee when using a traditional payment method. For instance, you will pay 1.8% to buy Chainlink with your debit or credit card at Binance. At Coinbase, this amounts to a much higher fee of 3.99%, while at eToro, it’s just 0.5%. You might find that bank account deposits are free if your chosen broker supports the Faster Payments network.
Trading Commissions
Unless you are utilizing the Instant Buy feature offered by the likes of Coinbase, OKEx, and Binance – you will need to pay a trading commission. This is a fee charged when you buy LINK tokens and again when you decide to cash out.
Selling Chainlink: A Quick Overview
You will likely want to sell your LINK tokens at some point in the future – especially if the value of the cryptocurrency has risen by a considerable amount. If you followed our step-by-step guide and bought Chainlink from eToro – the selling process is as follows:
- Click on the ‘Portfolio’ button to view your LINK token investment
- Next to the Chainlink tab, click on the ‘Sell’ button
- Enter the number of LINK tokens you wish to sell
- Confirm the sale
The LINK tokens will then be instantly converted into cash at the current market rate. You can then use the funds to invest in other assets and make a withdrawal to your bank account.
How to Buy Chainlink UK – Conclusion
If you’re looking at how to buy Chainlink in the UK in the safest, cheapest, and most convenient way – this guide can conclude that eToro is by far the best option. Not only is the platform regulated by the FCA for your safety – but you can buy LINK tokens from just $25.
Furthermore, we like the fact that eToro supports debit/credit cards and e-wallets – and charges just 0.5% in deposit fees. This will save you a considerable amount in comparison to other brokers in this industry – which typically average a debit/credit card fee of 5%.
eToro – Best FCA Broker Buy Chainlink UK
FAQ
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