How to Buy Chainlink (LINK) in the UK

In light of the past improvements on ChainLink and also several ongoing projects, investors are increasingly curious about investing in LINK in the UK and, most importantly, which are the best exchanges and safest wallets to do so.

This article will give you an overview of the various exchange platforms to buy LINK in the UK and compare the pros and cons of each.

  • You need to create an account with Binance, provide the required details and complete your identity verification.
  • Once you complete the process, click the “Buy Crypto” displayed on your screen, and choose GBP for your currency.
  • You can use any method for your payment (A typical example that I use is a Credit/Debit card).
  • You can then type the desired amount in GBP, and the screen will display the corresponding value in LINK.
  • You click on the “Buy LINK” button below. On the next page, you will need to provide your payment details.
  • Insert the card details such as the card’s number, expiry date, and CVV to execute the transaction.
  • Within minutes, the LINK will be displayed in your portfolio.

Other than Binance, there are other platforms to consider for buying LINK in the UK.

CEX.IO

CEX.io crypto exchange.

Payment methods: VISA, MASTERCARD, SWIFT, ACH, Faster Payments, Sepa, QIWI, and Skrill.

CEX.io was first a cloud mining-based company founded in London, UK, in 2013. Later in 2015, it started solely as an exchange platform and scrapped the cloud mining services. You can buy Chainlink on this platform, but the minimum amount for GBP holders is £20. It also allows you to purchase different crypto assets and other forms of currency.

How to Buy LINK With CEX.io

  • Register a CEX.io account with the required details and proceed with the identity verification.
  • Next, choose Chainlink (LINK) as your coin to buy, select GBP as your preferred payment option and continue.
  • Input your Credit/Debit card details when instructed and confirm your payment details to receive your LINK.
  • The LINK token is displayed in your crypto wallet in a few moments.

Pros

  • CEX.io offers maximum security with a reputation of no hacking since inception.
  • They offer an around-the-clock support system, including the chat section.
  • It is easy to use.
  • They also allow for diverse trading pairs.
  • You can purchase £100 worth of crypto regardless of ID verification.

Cons

  • It attracts high fees for transactions.
  • They employ old transaction types, which might not be feasible for advanced crypto traders.
  • They have a limited supply of crypto as opposed to Binance.

Coinbase

Coinbase crypto exchange.

Payment Methods: Faster Payments, SEPA, Bank Transfer, 3D Secure Cards, ACH, Debit card.

Coinbase is another exquisite crypto platform based in San Francisco where you can purchase your Chainlink (LINK) with GBP. The exchange platform was founded in July 2011 and supports different payment options. It supports both long and short time investors.

How to Buy LINK With Coinbase

  • Sign up for an account on Coinbase and proceed with the user verification until completion.
  • Check for your GBP wallet and click the “Link a New Account.”
  • Afterward, choose “Credit/Debit card” while inputting the required details as requested.
  • A button to ” Add Card” is displayed; click on it and proceed to the Buy/sell page once your card is approved.
  • Choose the crypto coin (in this case, LINK) to purchase and input the amount you would like to have.
  • After completing the payment and approval, your LINK asset will instantly be added to your crypto balance.

Pros

  • Coinbase allows for quick KYC processing.
  • It’s found reliable and trusted compared to some other exchanges.
  • The platform allows for easy applicability and a user-friendly interface for new investors.
  • They offer different payment options, including GBP and EUR.
  • They offer a low fee for most transactions.
  • It also offers swift transactions.

Cons

  • Coinbase suffers when there’s large trading activity (a sharp dip or surge in prices).
  • Their fees are pretty exorbitant compared to other exchanges.

Coinjar

Coinjar exchange.

Payment Methods: Faster Payments, PayID and BPAY transfers (Bank transfers), Blueshift, and Instant Buy.

Coinjar is an Australian-based cryptocurrency service founded in 2013. It’s known to be one of the earliest platforms that aim for customers to sell, buy, store and spend their digital assets. They support Chainlink and other popular crypto coins.

How to buy LINK With Coinjar

  • Create a coin jar account and proceed with identity verification till completion.
  • Afterward, go to accounts and incorporate Chainlink(LINK).
  • Go to the “Cash Account” and use bank transfer to add the funds.
  • You can also use a BTC account funded with BTC.
  • On the payment section, choose “Transfer.”
  • On the transfer page, you choose your payment preference either with BTC or Cash Account.
  • Choose Chainlink as the crypto asset to convert your funds.
  • Input the amount you want and click “Review and Confirm.”
  • And the last stage is to select the button “Pay Now,” where the funds in either BTC or Cash form are converted to LINK.

Pros

  • User-friendly interface and various features for new users.
  • Coinjar has an outstanding record of no hacking since inception and therefore it is secured.
  • The UK and Australian Citizens enjoy the complete package on this platform.
  • Transaction fees are also quite affordable compared to some exchanges.
  • They also offer excellent customer relationship management as you can contact them via a support ticket or phone support.

Cons

  • They only support a limited number of payment methods, of which an example is a deposit via bank Cards.
  • Only a few crypto assets are available.

Indacoin

Payment Methods: Bank Cards (Visa, Mastercard), Payza online payment platform, and BTC-e code.

Indacoin is a cryptocurrency platform exchanger based in the UK and started operation in 2013. They allow users to engage in different transactions such as; trading platforms and buying cryptocurrency, including Chainlink.

How to buy LINK with Indacoin

  • First, create an external Chainlink address and then sign up for an Indacoin account.
  • Proceed with the identity verification until completion.
  • Go to the Buy Chainlink page and input your amount.
  • You can insert any external wallet address or use your Indacoin wallet.
  • Continue with the transaction, and on the next page, input your card details.
  • Execute the payment, and you instantly receive your LINK asset in your Indacoin wallet. Transaction to an external wallet takes about 20-60 minutes.

Pros

  • Support a variety of Crypto assets apart from LINK.
  • They offer reliable customer service with 24 hours daily response rate.
  • The purchase of crypto is relatively safe as they’ve been in existence for a long time now.
  • Bonus for the first purchase transaction.
  • It also allows for simple or little purchases with no KYC.
  • Indacoin has a mobile app with exquisite features such as; tracking your funds and crypto transfer.

Cons

  • Transaction fees and amounts are not well described, therefore, lack transparency.
  • It does not support the selling of cryptocurrency.
  • They place limits on the amounts you can purchase.
  • They do not allow purchases from the US.

CoinSwitch

Payment Methods: Cryptocurrency and Bank Cards (Visa, Mastercard).

CoinSwitch is a cryptocurrency exchange server intended for crypto enthusiasts and investors to trade and purchase different tokens. This company was founded in 2017 in India and incorporated the ability to purchase your crypto assets with bank cards. Its primary feature is exchanging a crypto asset or token for another.

How to buy LINK on CoinSwitch

  • Visit coin switch. co and register to get started.
  • Select your preferred currency to exchange, EUR, under the “you send” button (You can also send crypto tokens in exchange for LINK).
  • Tap on the “you get” button where you choose Chainlink.
  • The following action is to input the amount you want to buy.
  • Afterward, tap on the “View All Offers” and select any accepted exchange platforms shown.
  • Copy the receiving address from any exchange platforms and input it in the provided space.
  • Almost immediately, you will receive your LINK token in your wallet.

Pros

  • CoinSwitch offers a variety of crypto-to-crypto exchanges of more than 300 crypto assets.
  • It offers a user-friendly interface for both new and existing users.
  • A short KYC process is required to start the operation.
  • The platform offers an outstanding and interactive customer support team.
  • Limitless transactions are enabled.
  • It supports the use of credit and debit cards to purchase crypto tokens.
  • A nominal transaction fee of 0-0.5% is applicable.
  • Users can also earn via referrals of new crypto investors.

Cons

  • The KYC is compulsory before you can use the platform
  • Fees or conversion prices are not well outlined for conversion.
  • The platform website has poor deliverability as it tends to slack.

BitPanda

Payment Methods: Bank Cards (Visa, Mastercard), Bank Transfer, Neteller, Skrill, SEPA

Bitpanda was originally called Coinimal and was founded in 2014 in Vienna, Austria. It is known majorly for trading and has become one of the leading crypto exchanges in Europe and worldwide. UK users can also purchase ChainLink on this platform.

How to buy LINK on BitPanda

  • Create an account on Bitpanda and proceed with the ID verification until it’s completed.
  • Select “Deposit” to add the funds via the available payment methods.
  • After funding your account, check for the “wallet” and click on the “Chainlink (LINK) option.
  • Buy and input the amount you desire.
  • Purchase with the funds in your account and proceed till it’s confirmed.
  • LINK token to your crypto wallet will be added in a few moments.

Pros

  • Transactions are limitless after KYC is certified.
  • It offers a user-friendly interface that allows easy application for both new and existing users.
  • It offers different services such as Bitpanda Swap, Savings, and trade metals like Gold and Silver.
  • Most importantly, it supports both the GBP and EUR mode of payment.

Cons

  • It has a poor customer support system, and it has no phone or live chat support.
  • The complete services are limited to some regions only.
  • It has a long and challenging KYC process.
  • The features can be overwhelming for new users.

BC Bitcoin

Payment Methods: Bank Cards (Visa, Mastercard). SEPA, Faster Payments

BC Bitcoin, which is based in the UK, was founded in 2017. It possesses extraordinary characteristics that only a few exchange services offer. Although it doesn’t hold your funds, it serves as a marketplace to either buy or sell your crypto asset and transfer it to an external address.

How to buy LINK on BC Bitcoin

  • Sign up on the platform and ensure you proceed to the user verification process.
  • Check for the “Buy Coins” button and click on it.
  • Choose Chainlink as the Crypto to purchase and select the payment method that suits you best.
  • Select GBP and input the amount required.
  • A space will be shown to input the external wallet address and then complete the payment.
  • You will be provided with the LINK token to the external address within an hour.

Pros

  • One of the most straightforward interfaces for exchange service.
  • They offer sophisticated customer service systems.
  • An exceptional Over-The-Counter purchase is also available.
  • It also allows the conversion of Crypto to other crypto assets, e.g., BTC to LINK, with the aid of the Coinswap mode.
  • It supports the use of fiat currency to make purchases.

Cons

  • It offers no live trading option, as seen in many other exchanges.
  • High fee transactions
  • It requires another wallet usage which might seem too tedious for a new user.

Kraken

Payment Methods: Etana Custody, Faster Payments, Bank Transfers, CHAPS, and BACS

Kraken was founded in 2011 and is one of the oldest crypto exchange platforms. They allow users to purchase Chainlink via BTC.

Kraken is another traditional cryptocurrency exchange where you can buy LINK in the UK with BTC. The exchange platform dedicates a whole page to explaining why Chainlink is essential and offers instant buy options for the asset.

How to buy LINK on Kraken

  • Register a Kraken account and proceed with the ID verification until completion.
  • Deposit your BTC or XBT on your Kraken account via fiat currency.
  • Click on “PRICES” on your dashboard and select GBP or EUR as your preferred currency.
  • Afterward, go to “trade” and click on it.
  • Search for the LINK and choose the LINK/XBT pair (XBT is represented as BTC on Kraken).
  • Type the amount of LINK crypto you wish to purchase and ensure you change the order type to “Market.”
  • Click the option to Buy LINK for XBT and await confirmation.
  • Once it’s confirmed, your Kraken wallet is credited with your LINK token and displayed.

Pros

  • Proven to be trusted and secured over the years.
  • A fee of 0.26% is relatively minor compared to many exchange platforms.
  • They offer around-the-clock customer support.
  • They offer advanced trading transaction types and tools that new and professional investors can apply.
  • It also supports the Proof-of-stake network(PoS) that allows staking service, a harmless means of earning.

Cons

  • It doesn’t allow direct purchase of LINK or other altcoins via Bank cards except for XBT, which incurs more charges.
  • Several other exchange platforms offer easy methods to purchase the coin.
  • There are also limitations to payment methods in specific geographical locations.

With our knowledge of where and how to buy LINK, the next question in mind should be how to keep your asset safe.

As discussed above, we highlighted some safe exchange platforms that have been in existence for a long time now, and examples are Coinbase and Kraken, which are tenable for a short period of time.

However, crypto experts and Cyber enthusiasts have proven that a cold or offline wallet is the safest and most secure option for long-term security. Due to the internet restrictions, it becomes impossible to hack through. An example is the Trezor hardware wallet.

Privacy and Security Tips

However, there are responsibilities laid on you also to keep your assets safe which I will discuss below:

  • The first thing is to ensure you use a complex or strong password that is difficult to guess. Some exchange platforms always request better passwords while creating an account, e.g., the use of special characters.
  • You can also use multi-factor authentication, an example of that would be the (2FA) two-factor authentication.
  • You can also change passwords regularly.
  • Also, confirm the address you are transferring to avoid the loss of funds
  • Avoid phished links.
  • Always trade with the amount you need, and avoid leaving all your funds on exchanges as it is unsafe. Also, it would be wise to transfer all your assets to a safer wallet if you won’t be trading for a while.

Conclusion

In this article, we have discussed where to purchase and store Chainlink in the UK and privacy and security tips for your Crypto asset. Steps that will make it easy for you to trade if followed thoroughly.

Despite the deep dive currently affecting the crypto market, LINK is still rallying up and has proven to be a valuable coin with many ongoing projects.

Team

Our UK-based team writes articles to help beginners understand the world of cryptocurrency. We are firm believers that Blockchain technology has great application in our future.

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