How To Buy Chainlink In Canada (May 2022)

February 2, 2022
Blog

There are two main ways that you can buy Chainlink in Canada: you could either use a cryptocurrency app to buy it using fiat currencies (or by trading other crypto for Chainlink tokens), or you could use a cryptocurrency broker to trade other cryptocurrencies for Chainlink tokens in as little as a single click.

CoinSmart is our #1-rated crypto trading platform due to its high level of security, ease of use, and low trading fees. If you’re serious about buying and selling crypto in Canada, I can’t recommend CoinSmart highly enough.

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Offer ends May 19.

How To Buy Chainlink (LINK) In Canada

There are two main ways that you can buy Chainlink in Canada.

The first would be to use a cryptocurrency exchange to buy Chainlink (LINK) tokens using fiat currencies (such as CAD or USD). You could also buy other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) and then trade them for Chainlink tokens on another platform.

The second way would involve using a cryptocurrency broker to trade other cryptocurrencies for Chainlink tokens in as little as a single click. However, despite their ease of use, it’s worth mentioning that crypto brokers tend to have higher fees when compared to cryptocurrency exchanges.

Top 3 Crypto Exchanges To Buy Chainlink (LINK) In Canada

Here are our top crypto exchange picks for buying Chainlink (LINK) in Canada:

1. CoinSmart

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ends May 19.

★★★★★

Rated 4.9/5

CoinSmart is, without a doubt, the best crypto platform in Canada in 2022.

For starters, CoinSmart’s trading fees are an incredibly low 0.2%. They offer excellent customer support available 24/7 via phone, live chat and email, and user accounts are verified instantly.

CoinSmart has been designated a Registered Marketplace by the Ontario Securities Commission (OSC), and as a publicly-traded company, their financials are audited by a third-party firm at least once per year. They also maintain a 95% cold storage policy, which ensures your crypto is kept extra safe and secure across all circumstances.

As a new CoinSmart user, you’ll receive a $50 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the 16 assets CoinSmart supports. If you’re looking for a highly secure, reputable crypto platform, CoinSmart is an excellent choice.

Features

  • Extremely low trading fees (0.2%)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Registered Marketplace by the OSC
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.2%
  • INTERAC Deposit: 0%
  • Bank Wire Deposit: 0%
  • Bank Wire Withdrawal: 1%
  • EFT Withdrawal: 1%

Signup Bonus

$50 bonus when you sign up using this link and our promo code YOREOYSTER.

Best For

Investors looking for low fees and the best overall trading experience.

CLAIM MY $50 BONUS
Offer ends May 19.

2. Bitbuy

Lowest Fees

Trading fees: 0.1% – 0.2%
Security: 99% cold storage
Signup bonus: $50

Serving over 400,000 Canadians

★★★★★

Rated 4.8/5

Bitbuy is a great second option for Canadians seeking a reliable, trustworthy crypto exchange.

Like CoinSmart, Bitbuy’s trading fees are just 0.2%, and go as low as 0.1% for transactions made using their advanced trading platform. It supports 17 cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

Bitbuy has processed more than $4 billion in trades across its 350,000+ Canadian users. It’s a Registered Marketplace and Investment Dealer as recognized by the Ontario Securities Commission (OSC), which means it’s a highly safe and secure exchange that offers deep liquidity for all order sizes.

For a limited time, Bitbuy is offering a $50 bonus to Yore Oyster readers who fund their account with $250 or more. If you’re looking for a highly-respected Canadian crypto exchange that offers altcoin trading, excellent customer service, and a slick mobile app, open a Bitbuy account today.

Features

  • Extremely low trading fees (0.1% – 0.2%)
  • Easy to use for both beginners and more advanced traders
  • Supports 17 cryptocurrencies
  • Excellent customer support
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 99% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.1% to 0.2%
  • INTERAC Deposits/Withdrawals: 1.5%
  • Bank Wire Deposit: 0.5%
  • Bank Wire Withdrawal: 1%

Signup Bonus

$50 when you deposit $250 using this link.

Best For

Investors looking to trade with extremely low trading fees.

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Free account, instant verification

3. Crypto.com

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5

Crypto.com is a major global player that brings a mature, proven exchange to Canadian crypto investors. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com offers some unique features that no other Canadian cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com also has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Overall, Crypto.com is a solid crypto exchange for investors looking to cash in on brand new altcoins. If you’re just looking to buy more mainstream coins like Bitcoin and Ethereum, though, I suggest either Bitbuy or CoinSmart instead.

Features

  • Average trading fees (0.4%)
  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Free deposits from all cryptocurrencies

Cost

  • Account Opening: Free
  • Trading Fees: 0.4%

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

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Extremely secure, 10x leverage

How To Buy Chainlink (LINK) In Canada FAQs

What Is Chainlink (LINK)?

Chainlink is a decentralized oracle network that uses real-world data on smart contracts. Smart contracts are pre-specified agreements on the Chainlink blockchain that are executed automatically whenever a few specific conditions are met.

LINK tokens, on the other hand, are the digital asset used to pay for services on the Chainlink network.

Can I Buy Chainlink (LINK) In Canada?

Yes. To buy Chainlink (LINK) tokens in Canada, you only need to find a cryptocurrency exchange or cryptocurrency broker that supports it, and fortunately, plenty of crypto exchanges support this digital asset.

Personally, I recommend using any of the following exchanges: CoinSmartBitbuy, or Crypto.com. These are currently our three top-rated exchanges in Canada, and each of them allows you to buy Chainlink (LINK) with relatively low fees.

Where Do I Store My Chainlink (LINK) Tokens?

There are a few ways you can store your Chainlink (LINK) tokens once you have them, each with varying degrees of safety.

One way would be to leave your Chainlink tokens inside your crypto exchange account. Doing this might be safer than using a software (or hot) wallet because crypto platforms tend to keep 95% of the coins they hold in cold storage. However, your Chainlink tokens might still be subject to hacking and theft if you do this.

Another way to store your Chainlink (LINK) tokens would be to use a personal crypto wallet. It’s not guaranteed safety, but a cold wallet is safer than leaving your funds in the exchange you originally purchased your coins in.

As someone who’s tried out more than a dozen different wallets over the years, here are my top 3 picks for the best crypto wallet for Canadians:

#1 Best Overall

Supports: 70+ crypto assets
Type: Software wallet
Cost: Free

The most secure wallet, period.

★★★★★

Rated 4.9/5

Top Hardware Wallet

Supports: 1,800+ crypto assets
Type: Hardware wallet
Cost: $199 CAD

Rated 4.6/5 on Amazon.

★★★★

Rated 4.3/5

Best For Altcoins

Supports: 1,000+ crypto assets
Type: Hardware wallet
Cost: $75 CAD

Trusted by 1 million+ investors.

★★★★

Rated 4.1/5

  1. ZenGo: ZenGo is a free software wallet that leverages the blockchain to make it significantly more secure than traditional wallets while also being extremely easy to use. Sending and receiving crypto to/from ZenGo is also free, and it takes less than 30 seconds to open your free ZenGo wallet.
  2. Ledger Nano S: The Ledger Nano S is a hardware wallet that uses a certified secure chip to protect your private keys. It supports 1,500+ cryptocurrencies and allows users to hold up to 20 digital assets on the device at any given time.
  3. Trezor Model One: The Trezor Model One is a hardware wallet and password manager that supports 1,000+ cryptocurrencies. Its Trusted Display ensures extremely secure transactions, and its compact design makes it easy to keep your crypto safe.

Is Chainlink (LINK) A Good Investment?

Decentralized finance is in its infancy, even when compared to the relatively new blockchain technologies. Because of this, there isn’t a limit to the value that Chainlink could provide the world in the future, which makes it a potentially good investment (especially as time goes on).

However, it’s worth mentioning that Chainlink (LINK), like most cryptocurrencies, is subject to wild fluctuations in price. Therefore, if you’re not certain as to whether or not you can handle these investing conditions, Chainlink may not be the ideal investment prospect for you.

In Summary

There are plenty of ways you can buy, sell and trade Chainlink (LINK) in Canada today: the easiest methods would be to find a cryptocurrency exchange or cryptocurrency broker that allows you to buy LINK tokens using fiat currencies or allows you to trade other digital assets for LINK tokens.

CoinSmart is our #1-rated crypto trading platform due to its high level of security, ease of use, and low trading fees. If you’re serious about buying and selling crypto in Canada, I can’t recommend CoinSmart highly enough.

CLAIM MY $50 BONUS
Offer ends May 19.

The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

$50 bonus ends May 19.

★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

Free account, instant verification

★★★★★

Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5