How To Buy Chainlink In Canada (Aug 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.

Bitbuy 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 Bitbuy highly enough.

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Offer ends August 17, 2022.

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. Bitbuy — Best Overall + $50 Signup Bonus

Best Overall

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

Serving over 400,000 Canadians

★★★★★

Rated 4.9/5

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

For starters, Bitbuy has the lowest trading fees in Canada at just 0.1%. It supports 25+ cryptocurrencies, verifies accounts instantly, prides itself on its helpful customer service reps, and has a beautiful, well-rated app.

To date, Bitbuy has processed more than $4 billion in trades across its 400,000+ 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 on all order sizes.

I’ve personally used Bitbuy for over a year, so I’ve seen them consistently improve their platform over time. For example, Bitbuy recently removed its fees on deposits and withdrawals, making the overall trading experience significantly cheaper for users. Those fees were Bitbuy’s main drawback before, but now I’m very confident calling it the best crypto exchange in Canada.

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 exchange that offers the lowest fees in Canada, excellent customer service, and a slick mobile app, open a Bitbuy account today.

Features

  • Extremely low trading fees (0.1%)
  • Easy to use for both beginners and more advanced traders
  • Supports 25+ 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%
  • INTERAC Deposits/Withdrawals: Free
  • Bank Wire Deposit: Free
  • Bank Wire Withdrawal: 1%

Signup Bonus

$50 when you deposit $250 using this link.

Best For

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

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Offer ends August 17, 2022.

2. CoinSmart

$50 Signup Bonus

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

$50 offer ending soon.

★★★★★

Rated 4.8/5

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

Like Bitbuy, CoinSmart’s trading fees are also low, just 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), is registered as a Money Services Business with FINTRAC, and is a member of the anti-money laundering group TRUST, all of which means they’re a highly secure exchange. They maintain a 95% cold storage policy, and as a publicly-traded company, their financials are audited by a third-party firm at least once per year.

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 to trade with low trading fees.

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3. VirgoCX

Best For Fringe Coins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5

Based in Toronto, VirgoCX is another one of the best Canadian crypto exchanges. Its users appreciate that it offers 50+ cryptocurrencies, one of the widest selections of any exchange on this list. 

VirgoCX’s trading platform and mobile app are intuitive and easy to use, even for beginners. It offers 24/7 customer support via live chat and email, plus an extensive FAQ section on its site.

VirgoCX charges no deposit or withdrawal fees on fiat and covers the first $6 in mining fees on ERC20 withdrawals. It requires 2-factor authentication on all accounts, and maintains a 95% cold storage policy to keep your assets safe at all times.

Features

  • Supports 50+ cryptocurrencies
  • Free fiat deposits and withdrawals
  • Free deposits and withdrawals on most cryptocurrencies
  • 24/7 support available via live chat and email
  • User-friendly for both beginners and more advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Cash Deposits: Free
  • Cash Withdrawals: Free
  • Crypto Deposits: Free
  • Crypto Withdrawals: Free for all major coins
  • Spreads on trades: Around 1%

Signup Bonus

$30 when you fund your account with $100 or more using this link.

Best For

Investors looking to buy altcoins before everyone else.

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Free account, instant verification

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:

Most Popular

Supports: 5,500+ crypto assets
Type: Hardware wallet
Cost: $$

Canada’s most popular wallet.

★★★★

Rated 4.3/5

Budget Pick

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

The cheapest hardware wallet.

★★★★

Rated 4.1/5

Best For Altcoins

Supports: 5,500+ crypto assets
Type: Hardware wallet
Cost: $$$

An upgraded Nano S.

★★★★

Rated 3.8/5

  1. Ledger Nano S: The Ledger Nano S is a hardware wallet that uses a certified secure chip to protect your private keys. It supports 5,500+ cryptocurrencies and allows users to hold up to 3 different digital assets on the device at any given time.
  2. 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.
  3. Ledger Nano X: The Ledger Nano X is a more expensive, more capable version of the Ledger Nano S. It supports 5,500+ cryptocurrencies and allows users to hold 100+ digital assets on the device at any given time.

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.

Bitbuy 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 Bitbuy highly enough.

CLAIM MY $50 BONUS
Offer ends August 17, 2022.

Want to earn $50 in the next 6 minutes?

Bitbuy is a highly-rated, fully regulated Canadian crypto platform that’s giving new users $50 for depositing $250 or more. Trade with low fees and withdraw your money at any time.

Click below to claim your $50 bonus today. Offer ends August 17, 2022.
CLAIM MY $50 BONUS
Offer ends August 17, 2022.