What is Chainlink (LINK)?
Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Chainlink uses its digital asset token LINK to pay for services on the network. You can buy and sell LINK for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade LINK for BTC the same way you trade CAD for USD. You can also trade LINK to CAD based on the LINK price. To learn how to buy Chainlink / LINK, scroll down to see how to buy Chainlink.
How to buy Chainlink (LINK)?
Here's how to buy Chainlink on Coinsquare
To buy Chainlink, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying LINK. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select LINK from the list on the trade section
Coinsquare lets you trade LINK without leaving the app. You can also check the Chainlink price and convert LINK to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the LINK price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Chainlink (LINK)
Congratulations! You’re now the proud owner of LINK. You can either HODL or use it to exchange LINK to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Chainlink (LINK)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Chainlink (LINK) to your portfolio?
Create your account, fund it with spare change and get a little bit of LINK.
