How to buy Chainlink in Canada

Bitbuy makes it easy for Canadians to buy Chainlink in Canada

Buy Chainlink Cryptocurrency

LINK is the native token for the Chainlink network (the “Chainlink Network”). The Chainlink Network is a decentralized oracle network that was launched in 2017 by the for-profit company SmartContract. The Chainlink protocol assists blockchain smart contracts by incentivizing oracles (data providers) to accurately verify data inputs and outputs. Smart contracts are agreements that are programmed to execute when certain terms and conditions are met. Smart contracts rely on real-world, external data sources. Since blockchains do not allow for a sufficient connection with external data, the Chainlink Network was created to act as a decentralized bridge between smart contracts and sources of external data.

The problem the Chainlink Network tries to solve is commonly known as the oracle problem. The oracle problem stems from the  fact that smart contracts need real-world data to operate as intended. However, while the rest of the smart contract ecosystem uses blockchain technology which relies on consensus mechanisms for accuracy, the data providers (or oracles) may not be subject to the same constraints. Therefore, smart contracts may need to rely on a centralized source of data, which could potentially provide unreliable or untrustworthy data to the blockchain and undermine the decentralized nature of smart contracts. The Chainlink Network tries to solve this problem by creating a decentralized network of nodes in an attempt to eliminate the reliability and trust issues associated with using only a single centralized source of data. The Chainlink Network attempts to accomplish this goal by using a group of decentralized nodes, assigning those nodes reputation scores and aggregating, weighting and validating the data they provide to ensure that it is reliable and trustworthy.

It should be noted that Chainlink does not operate its own blockchain, and the token can function on many different blockchains at the same time.

In 2017, Sergey Nazarov launched Chainlink and its digital currency, LINK.

The LINK cryptocurrency possesses a supply limit of one billion and is linked to Ethereum. LINK is used to incentivize users to extend and use the off-chain data. The virtual currency also covers the costs of executing smart contract transactions on the Chainlink network.  

To learn more, check out Chainlink’s Whitepaper:

How to Buy Chainlink

Eager to buy Chainlink but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Chainlink (LINK) from. Bitbuy always ensures the lowest associated fees and highest security when buying, selling, or trading cryptocurrency.  

How to Invest in Chainlink in Canada

Investors can easily invest in Chainlink (LINK) by creating an account with Bitbuy, adding funds to their account directly through E-Transfer or bank wire and buying LINK directly through the Bitbuy platform. Experience problems or need answers along the way? Do not fear, Bitbuy is always here. Our customer support team will ensure your investment journey is smooth throughout.

How to buy Chainlink in Canada

So, where do novice and seasoned crypto enthusiasts go to purchase Chainlink? Bitbuy has you covered for all your crypto needs. Unsure how to buy, sell, and trade the digital currency? Here is a step-by-step rundown of the process:

  1. Create Your Account: When you sign up to create an account on Bitbuy, you will be asked to confirm your email address, phone number, and verify your identity.
  2. Add Funds: Before you can buy Chainlink in Canada, add funds to your account directly with Interac e-Transfer or bank wire. 
  3. Buy and Sell Bitcoin: Once you have sent money to your account, you can buy Chainlink instantly.  Bitbuy also makes it easy to sell Chainlink in Canada. Exchange your LINK for CAD and withdraw the funds back into your bank account.

If at any point you need help signing up, verifying your account, adding funds, or buying and selling Bitcoin, just contact customer support  for same-day assistance.

Where to buy Chainlink in Canada

Bitbuy is one of the best and most secure places to buy Chainlink in Canada. Here is why:

Safe and Secure 

Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy,  it is crucial users know that their digital assets are safe with us.  

The Lowest Fees 

Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Chainlink (LINK).

Award-winning Customer Support 

Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient. 

We pride ourselves in our exceptional  customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.

Easy Funding 

Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy Chainlink (LINK) with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy LINK in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you can then use to buy and sell cryptocurrencies in Canada.

Chainlink Wallet

Looking for a place to store your LINK?  Bitbuy is the perfect place to start. Bitbuy has a built in-wallet in each user's account that you can use to store your LINK safe and securely with.

Where to trade Chainlink

Website (instructions for the mobile app below)

1) Navigate to the 'Express Trade' section of your account

When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To facilitate the trade, click the 'Sell' button which will appear in red.  

2) Select LINK as the Cryptocurrency you wish to sell

Click the drop-down and search LINK to begin the sale.  

3) Complete your sale

Enter the amount of LINK that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.

Mobile App

1) Navigate to the 'Accounts' section of your account

Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.  

2) Locate the cryptocurrency you want to sell  

Locate LINK and click on the 'Sell' button.  

3) Complete your sale

Enter the amount of LINK you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!

How to buy Chainlink in Canada

Create an account
Provide some basic details about yourself and get instantly verified
Fund your account
Fund instantly using Interac e-Transfer®
Buy Chainlink
One click, and you're done
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About Bitbuy

Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.

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