- ChainLink is the chain-based mindware on the Ethereum blockchain.
- It forms the bridges between smart contracts on cryptocurrency and the off-chain reserves such as the web APIs, various types of data feeds, and also the traditional method of payments on bank accounts.
- The ChainLink cryptocurrency is an ERC20 ticket link that is used in order to reimburse node operators on the operations on networks like the retrieval of data, formatting, and various other services.
- It can be stated that Binance is known to be the best place to buy ChainLink Link. The process of registration is simple and quick.
- The offers on the exchange are in a good range.
- One can find the ChainLink on the Binance platform at a reasonable price that is available at its best and the trading will be completed in seconds.
- Binance lists wide options on other cryptocurrencies where you can skillfully convert the LINK to coin at a later instance if required.
In this article we shall discuss on ‘How to buy LINK on Binance’. Read this page till the end so that you can easily trade with the link on Binance at the best price available.
How to buy ChainLink LINK on Binance
So to buy LINK on Binance with ChainLink, at first you must open the account:
Let’s look through the steps in detail:-
- Register on the Binance
It is the broadly operated cryptocurrency exchange over the globe.
Binance gained popularity because of its vast selection on Altcoins, which goes on to increase with frequent improvement.
In Binance, there is no verification needed for the withdrawal at below 2 BTC/day, this exchange offers an application that can be used both in iOS devices and Android devices.
- Deposit of Cryptocurrency
The greatly suitable cryptocurrencies on deposit are Bitcoin (BTC) and Ethereum (ETH).
Both of them have the trading pair with a large majority of the cryptocurrencies registered on the Binance, thereby which leads you to achieve a considerable proportion of flexibility.
It is that both BTC, as well as ETH, can be used on trade for the LINK on Binance.
The steps on ‘Deposit’ are as follows:-
1. Go to the website on Binance
2. Visit the Navigation Bar
3. Select on ‘Funds’
4. Then click on the ‘Deposit’ tab
5. A search bar will appear on the displayed screen
6. Now, you must enter the desired ticker i.e BTC for Bitcoins and ETH for Ethereum as for the cryptocurrency which you want to deposit and then choose it from the pop-up menu list.
You will receive a deposit address for the selected cryptocurrency (selected by you) which will be provided from the website.
The address on the deposit will be a chain of letters and numbers including both uppercase and lowercase.
You need to copy the given address entirely and then move to the wallet of your choice.
Then you can send the desired amount to deposit to the copied address.
The transaction may take around half an hour to complete the process which is quite common, so you must not expect the amount to be accessible on the account on Binance instantly.
- Check the Balance
Here are the steps to check Balance:-
1- Go to the ‘Funds’ section
2- Move to ‘Balance’ which is in the navigation field on the top of its website.
3- To check the coins with a balance of more than 0.001 BTC, you need to click on the Hide assets.
4- If the deposit done by you is processed already, then the amount and coin will get reflected on the list.
5- In the case of multiple coins, for that, you can manipulate the ‘Search Bar’.
- Place an order on buy ChainLink on Binance
The steps are to order are:-
(1) Navigate to the ‘Exchange’ tab
(2) Click on ‘Basic’
(3) It is assumed that you have deposited BTC. Also if you have deposited ETH no worries, as the procedure is the same for both.
(4) Next, go to the right top corner of the screen and click on BTC, and there you look for the LINK, the ticker for the ‘ChainLink’. It should appear as LINK/BTC pair for trading.
(5) Clicking on the trading pair will show you the price chart in the center.
(6) Now you will be able to place the buy order under this Chart.
(7) To buy the LINK when it reaches a specific price you need to use the ‘Limit Order’.
(8) Type in the preferred price (in BTC) along with the amount of the LINK that you desire to buy.
(9) Next, hit on the ‘Buy LINK’ option.
(10) But if you desire to buy ChainLink Link at the current price, you must tap on the ‘Market’ option and then type in the amount of the LINK that you are looking to buy.
(11) After you have placed the order, it will be implemented almost directly and the bought ChainLink LINK will get added to the balance soon and the procedure is completed.
Some of the ways to buy ChainLink LINK on Binance
Listed below are the methods on ‘How to buy ChainLink LINK on Binance?’ with Bank Transfer, Trade Chainlink and Credit Card.
- Buy ChainLink LINK by Bank Transfer:
You can buy stable coins that are mentioned on Binance by simply wiring the money on the bank account to the coin providers. Where you can use the stable coins to buy the ChainLink LINK on the Binance exchange account.
- Buy through Trade ChainLink:
If you hold any other cryptocurrency, Binance also assists the deposit of over 150 cryptocurrencies, which can go for exchange to buy ChainLink at reasonable rates in markets.
- Buy LINK on ChainLink with Credit Card:
One must note that currently, it is not possible to buy ChainLink LINK directly with the Credit Card. But Binance allows the best way to buy coins that are available with a credit card option and then one can trade on ChainLink for them at low fees and best liquidity.
Hence, you can now learn that buying ChainLink LINK on Binance exchange is a straightforward procedure and we hope now, there must be no doubt on ‘Why can’t I buy ChainLink on Binance’ if you perform the steps as stated above and hope it will help you out to encounter any problems in the trading process