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Buy Chainlink (LINK) in UK With GBP | CoinJar

Chainlink

LINK

£0.000GBP

Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is provided by CoinJar.

LINK price calculator

GBP

LINK

Buy LINK

Overview

#18

Popularity

Oracle

Asset type

2017

Active since

What is Chainlink?

What is Chainlink (LINK)? And how do investors buy Chainlink on CoinJar? Chainlink is a cryptocurrency that plays a crucial role in the world of decentralised finance (DeFi).

Chainlink is a decentralised oracle network that bridges the gap between smart contracts and real-world data.

Decentralised oracle networks

Smart contracts on blockchains can’t access external data directly. Chainlink solves this problem by providing a decentralised network of oracles.

These oracles gather real-world data (such as stock prices, weather conditions, or sports scores) and feed it into smart contracts.

Imagine a smart contract that triggers a payment when a specific event occurs (e.g., a flight delay). To execute this, the contract needs accurate external data. Oracles act as trusted intermediaries, ensuring that smart contracts receive reliable information. This makes it a good solution for DeFi applications.

How does Chainlink solve the Oracle Problem?

The oracle problem arises because smart contracts cannot directly access external data. Chainlink addresses this by creating an incentive system for oracles. These oracles provide reliable data, gain a positive reputation, and are rewarded with LINK tokens. As they accumulate reputation, their accuracy and reliability increase.

Is Chainlink a good investment?

Here are some factors to consider.

Real-world adoption

The technology is actively used by various projects, including DeFi platforms, gaming, and supply chain management.

White paper and vision

The white paper outlines its purpose and technical details. It’s essential reading for potential investors.

Team

Co-founded by Sergey Nazarov and Steve Ellis, both are experienced in blockchain technology.

Market demand

As blockchain networks expand, the need for reliable oracles grows. Chainlink decentralises this critical service.

Amount of LINK

Keep an eye on the circulating supply of LINK tokens. Scarcity can impact its value.

Cash, credit or crypto?

Buy Chainlink using Visa or Mastercard. Get cash in your account with Faster Payments Service (FPS). Convert crypto-to-crypto with a single click.

Buy Chainlink now

How to buy Chainlink with CoinJar

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Step oneDownload the appGet the CoinJar app on iOS or Android.

Step twoCreate an accountCreate an account with CoinJar and verify your ID.

Step threeMake a purchaseBuy more than 60 cryptos using Faster Payments, SEPA, bank transfer, or a debit card.

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Frequently asked questions

What is Chainlink?

Chainlink is a decentralised oracle network that plays a crucial role in connecting smart contracts on blockchains with external data sources, APIs, and systems.

It ensures that smart contracts can have protection when accessing real-world data, such as prices, weather conditions, or other relevant information.

How do I buy LINK tokens on CoinJar?

To buy LINK, simply create a CoinJar account, deposit funds, and use our exchange to buy Chainlink tokens. ID verification requirements, Waiting periods, and Appropriateness tests apply.

What's the current Chainlink price?

The Chainlink price fluctuates with market conditions. Check our live price chart for real-time LINK price updates at the top of this page.

Can I buy and sell Chainlink on the same platform?

Yes, CoinJar allows you to both buy and sell Chainlink. You can trade LINK anytime through our platform.

How do I purchase Chainlink with my crypto wallet?

You don’t need to connect your wallet to buy LINK directly, you can deposit funds to your CoinJar account to purchase Chainlink tokens. Then if you like, you can move your crypto from your CoinJar wallet to an external wallet.

Is CoinJar convenient for buying LINK?

CoinJar offers competitive rates and support, making it easier for customers compared to international crypto exchanges like Binance. With CoinJar you can sell your crypto and move your funds back to your bank account.

What payment methods can I use to buy Chainlink?

You can deposit funds via bank transfer, then use those funds to buy LINK tokens on our exchange. You can also use a card, among other methods.

How does Chainlink's blockchain network work?

Chainlink operates as a decentralised oracle network on the blockchain, connecting smart contracts with real-world data.

Can I set buy orders for Chainlink?

Yes, you can place limit orders to buy LINK at your preferred price point through our trading interface called CoinJar Exchange.

What are the transaction fees for buying Chainlink?

CoinJar offers competitive trading fees for all cryptocurrency transactions, including LINK purchases. Here are the fees.

How do I store my Chainlink tokens after purchase?

Your LINK tokens are stored in your CoinJar wallet, or you can withdraw them to an external crypto wallet.

Standard Risk Warning: The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar's digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767). In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.

The performance of most cryptocurrency can be highly volatile, with their value dropping as quickly as it can rise. Past performance is not an indication of future results. Remember: Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at: https://www.coinjar.com/uk/risk-summary. UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour "cooling off" period, before their account is active, due to local regulations. If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.

Specific risks associated with DeFi tokens Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology. DeFi tokens carry the following risks:Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens. Regulatory risk: DeFi operates in a decentralised manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens. Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols. Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.

Specific risks associated with meme coins: 'Meme coins' (e.g. DOGE, SHIB, PEPE) are crypto-assets whose value is driven primarily by community interest and online trends. Meme coins carry the following risks: • Volatility risk: Meme coins can have extreme price volatility, often experiencing rapid and unpredictable price fluctuations within short periods. The value of meme coins can be influenced by social media trends, celebrity endorsements, and other factors unrelated to traditional investment fundamentals. • Lack of utility: Meme coins often lack intrinsic value or utility, being primarily driven by community interest, online trends, and speculative trading. • Market manipulation: Meme coins may be susceptible to increased risk of market manipulation including 'pump-and-dump' schemes, where the price is artificially inflated followed by a sudden crash. • Lack of transparency: Meme coins may have limited available information about their development teams, goals, and financials. This lack of transparency can make it challenging to assess the credibility and potential of a meme coin accurately. • Emotional investing: Meme coins often garner strong emotional reactions from investors, leading to impulsive decisions. Emotional trading activity can amplify losses.

Specific risks associated with stablecoins: There is a risk that any particular stablecoin may not hold their value as against any fiat currency; or may not hold their value as against any other asset. Stablecoins carry the following risks: · Depegging events: Depegging events may occur with stablecoins that fail to maintain adequate controls and risk mitigants. A depegging event is when the value of the stablecoin no longer matches the value of the underlying asset. This could result in a loss of some or all of your investment. • Counterparty risk: Counterparty risk arises when an asset is backed by collateral, involving a third party maintaining the collateral, which introduces risk if the party becomes insolvent or fails to maintain it. • Redemption risk: Redemption risk refers to the possibility that an asset's ability to be redeemed for underlying collateral may not be as anticipated during market fluctuations or operational issues. • Collateral risk: Collateral risk refers to the possibility of the collateral's value declining or becoming volatile, potentially impacting the asset's stability, particularly when it is another crypto-asset. • Exchange rate fluctuations: Stablecoins, often denominated in US Dollars, expose investors to fluctuations in the USD:GBP exchange rate. • Algorithmic risk: Algorithm risk refers to the possibility of an asset's stability being compromised due to unexpected failure or behaviour of the underlying algorithm, potentially leading to loss of value.

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