How to Buy Chainlink in Ireland

A Beginner’s Guide to Buying and Selling Chainlink Cryptocurrency in Ireland

6 Min Read
Last Updated July 23rd 2021

If you’re based in Ireland and wish to buy Chainlink – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Chainlink tokens you want to buy.

Launched in 2007, Chainlink is a tokenized oracle network that provides price and events data collected from on-chain and real-world sources. The coin has gained significant popularity and is based on the Ethereum blockchain. Chainlink is an Ethereum token that powers the Chainlink decentralized oracle network.

Chainlink is a key player in decentralized finance and has managed to survive and thrive amidst the agility of the crypto market. Users can use the Ethereum-based blockchain platform to buy virtual reality applications, build them, and monetize them. It is also possible to buy virtual land over the platform. This action would make it possible for you to own and control the respective environment and the applications created within the land. 

The network allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems.

What’s in This Guide? 

The following guide serves to educate new entrants in the crypto space, focusing on the ones interested in Chainlink. The guide shows the simplest way to sell, buy and store the tokens. The guide will take you through a step-by-step process, ensuring that you transact effectively and efficiently throughout the entire procedure. 

While the crypto market offers a promising financial future, it is also a very risky investment avenue, Chainlink included. For this reason, it is important to seek the counsel of a financial advisor to give yourself a chance of gaining and not losing your investment. 

  1. QUICK GUIDE: HOW TO BUY CHAINLINK IN IRELAND
  2. Where to Buy Chainlink in Ireland
  3. A Step-by-step Guide to Buying Chainlink in Ireland
  4. How to Sell Chainlink 
  5. Which Wallets Can I Use to Hold Chainlink?
  6. How Chainlink Works 
  7. Key Things to Consider if You’re Thinking About Buying Chainlink in Ireland 
  8. FAQs

QUICK GUIDE: HOW TO BUY CHAINLINK IN IRELAND

  1. Open an account with a cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select Chainlink.
  5. Enter how many Chainlink tokens you want to buy.
  6. Check the details and confirm your purchase.

Where to Buy Chainlink in Ireland

The best platform from which you can buy Chainlink tokens is the crypto exchange account, and Ireland offers many of these. However, it is important that you take the time to determine that the exchange you are using supports both the Chainlink token and the EUR currency.

A Step-by-step Guide to Buying Chainlink in Ireland 

There are two main ways that you can use to buy the Chainlink token. They include: 

Buying Chainlink using fiat currencies 

The first approach you can use to buy Chainlink is fiat currency, which entails using the EUR currency. To use this method, you must first make sure that the exchange account you register with will support the EUR.

Buying Chainlink with other cryptocurrencies 

The second approach you can use to buy Chainlink entails exchanging other cryptocurrencies like Bitcoin, Ethereum, or Bitcoin Cash, among others, for the Chainlink token.  However, while this option is normally the preferred one, not all exchange accounts support it. 

To exchange other cryptocurrencies for the Chainlink coin, select the option that pairs with it, for instance, Ethereum, select Ethereum/Chainlink, and Bitcoin/Chainlink in the case for Bitcoin. 

To start buying Chainlink, follow these simple steps: 

Step 1: Register with an exchange 

Registering for an exchange account is the first step towards buying Chainlink tokens, and Ireland is one of the best places to look because they have many exchange companies. For your transaction to be successful, you must choose the exchange that best aligns with the type of transaction you intend to do. The exchange must support Chainlink and EUR.

During the registration process, you will be required to provide the required personal information to complete the process. Some of this information includes your name, telephone number, and email address. You will also have to verify your identity using a government-issued document as specified by the KYC rules.

For security maximization purposes, it is imperative that you set a very strong password, and with it, multi-factor authentication keeps the account safe from unauthorized access.

Step 2: Fund your account 

After registration, you have to fund the account before you can begin the buying process. Funding the account is through a direct bank transfer or by linking your credit or debit card to the exchange account.

Step 3: Buy Chainlink 

Now that you have registered and funded your account, you can now buy the Chainlink tokens. Purchasing can be facilitated using EUR or by using other cryptocurrencies to trade for the Chainlink tokens. As mention earlier, buying via cryptocurrencies will require that you specify your intended exchange, for example, ETH/LINK and USD/LINK.

Finally, confirm the transaction and check your email, where you will have received a notification that the process has been initiated.

How to Sell Chainlink 

If you already own Chainlink tokens, you can also sell them at your convenience. The following steps will guide you to successfully selling the Chainlink tokens:

Sign in to the exchange account and find the “sell” section of the exchange account. Next, you key in the specific amount of Chainlink tokens you wish to sell or convert into EUR funds.

For exchange accounts that do not support selling the Chainlink tokens for EUR, you can trade them for other cryptocurrencies and exchange these coins for EUR. The funds will, after that, be available for withdrawal from your exchange account.

Which Wallets Can I Use to Hold Chainlink? 

Once you have already bought your Chainlink tokens, you will need a trustable place to store them. You have to get a crypto wallet where you will either store your tokens online or offline for safety.

Online storage requires a hot wallet, which allows you to store the coins only for a short period as you wait to trade them. Regarding offline storage, you need a cold wallet. Cold wallets are on a hardware device such as a USB drive, and therefore keep your tokens safe from all the vulnerabilities of online storage.

How Chainlink Works 

The Chainlink token works in the same way as other cryptocurrencies and is based on the Ethereum blockchain. Chainlink is decentralized and therefore applicable for trade even in the absence of an intermediary, a quality that makes the transaction cheaper, faster, and easier.

Key Things to Consider if You’re Thinking About Buying Chainlink in Ireland 

There are certain factors that you must always consider before buying the Chainlink tokes. These include:

The availability of the token 

The availability of the tokens determines whether they can be sold or bought easily. A high availability score translates into increased value. 

Usability of the token

Tokens that have a wide range of applications hold more value compared to those that have few uses. 

The volatility of the token

The crypto market is full of volatile tokens, and Chainlink is no exception. Before venturing into Chainlink tokens, you have to know the risks involved and whether you can manage them.

eToro – Best Exchange to Buy Chainlink in Ireland

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

FAQs 

Where can I buy Chainlink in Ireland? 

The ideal place to buy Chainlink tokens is the crypto exchange account. 

Are Chainlink tokens volatile? 

All cryptocurrencies, Chainlink included, are volatile. For this reason, investors must always research cryptocurrencies before investing. 

Can I buy Chainlink with a credit card? 

Chainlink tokens can be bought through direct bank transfer, credit card, and debit card or by exchanging other cryptocurrencies like Bitcoin, Ethereum, or Bitcoin Cash, among others, for Chainlink tokens. 

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.