How to Buy Chainlink (LINK) in Canada

How to Buy Chainlink in Canada

Chainlink was created to bridge the gap between external, off-chain data and blockchain, on-chain data.

BUY PRICE1 LINK = CAD $0.00

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SELL PRICE1 LINK = CAD $0.00

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SUMMARY1. Brief Intro2. Price3. How to Buy4. Why Netcoins?5. About ChainLink

Brief Intro

Founded in 2017, Chainlink was launched by the San Francisco-based tech company, Smart Contract. Its co-founders are Sergey Nazarov (CEO) and Steve Ellis (CTO). LINK is Chainlink’s native cryptocurrency

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LINK / CAD

CAD $ -

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Buy Price$0.00

Sell Price$0.00

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24h Low$0.00

How to Buy Chainlink

1. Create an Account

2. Fund It

Your Netcoins account can be funded with a crypto deposit, an ACH transfer or a bank wire transfer.

3. Start Trading

Buy and sell as much Chainlink as you want with no slippage due to our deep liquidity.

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More About Chainlink

What Can You Do with LINK?

While you can use bitcoin to buy goods and services or use ether to execute smart contracts and pay miners for maintaining the Ethereum network; Chainlink tokens are simply used to pay “node operators” in the Chainlink network. These node operators connect to the Ethereum network and collect user-requested data that lives off-chain. On top of that, they also ensure that the data is accurate and relevant. For this work, the nodes are rewarded LINK tokens, Chainlink’s native cryptocurrency.

How Does LINK Stand Out From Other Cryptocurrencies?

LINK is an ERC-20 token, which means it’s compatible with other cryptocurrencies and smart contracts that also live on the Ethereum blockchain. Like we mentioned earlier, LINK is used to incentivize Chainlink node operators rather than being used for everyday purchases, like bitcoin or for executing smart contracts, like ether. Because it’s an ERC-20 token, you can’t mine LINK (like you can with bitcoin, or litecoin). Instead, the Chainlink team decides which node operators can validate information, making it a centralized token (unlike Bitcoin which is decentralized because it’s not owned or managed by any one party).

Why Invest in LINK?

Chainlink solves one of the biggest problems that blockchains are experiencing – the inability of smart contracts to tap into information and data sources that live outside of the blockchain (like weather type, stock prices, etc). To those not well-versed in smart contracts, they are similar to regular contracts in that the terms of agreements between buyers and sellers (or any two parties) are outlined. However, in smart contracts, these terms are written into code. So once the terms are met, the agreement self-executes and transactions are carried out. In this way, intermediary parties are not needed.

How Do I Securely Store My LINK?

You can buy LINK tokens from crypto trading platforms, like Netcoins, and leave your LINK inside the platform. However, there are much safer options to storing your LINK tokens as leaving them in exchanges can expose them to certain risks like hacking and theft. The safest option to keeping your LINK tokens secure is to transfer them into a LINK wallet. A LINK wallet is a type of digital wallet that is used to send and receive LINK, similar to a Google wallet or a physical wallet.

Is LINK a Smart Investment?

Chainlink price experienced growth around mid-2019 to mid-2020. In fact, LINK’s price reached an all-time high of $52.88 on May 9, 2021, as the crypto market rallied with developments also happening in the Chainlink ecosystem. Some investors are still excited about the future potential of LINK, and believe its price will continue to grow. With new projects and applications emerging on a regular basis, Chainlink will be there to bridge the gap between the on-chain and off-chain world. These, among many other reasons, make LINK a worthwhile bet moving into the future. And if you are an American interested in buying LINK, Netcoins provides a simple and easy way to get started.

FAQs

WHY BUY Chainlink?

Chainlink solves one of the biggest problems that blockchains experience, which is the inability of smart contracts to tap into information and data sources that live outside of the blockchain (like weather type, stock prices, etc). LINK, the native cryptocurrency of the Chainlink network plays an integral part in maintaining and keeping the network operational.

WHY IS KYC (VERIFICATION) REQUIRED?

Netcoins USA is a licensed money service business under FinCEN, we adhere to the strict guidelines set by them for Money Transmitter Businesses. We are required to have a Know-Your-Customer (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers, as per American regulations.

WHAT DO I NEED TO PROVIDE FOR YOUR VERIFICATION PROCESS?

You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process.

HOW CAN I FUND MY ACCOUNT?

Your Netcoins account can be funded with a crypto deposit, regular ACH, ACH pre-funding or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy LINK in the US.

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