If you understand and accept the risks of investing in cryptocurrency, here’s how to buy it.
1. Choose a Reputable Cryptocurrency Exchange:
Select a trusted cryptocurrency exchange in Australia that offers Chainlink (LINK). Options might include platforms such as Coinspot, eToro, or Kraken, among others. Register on the platform using your email address and create a secure password.
2. Verify Your Identity:
Australian regulations mandate that individuals verify their identity before purchasing cryptocurrency. This typically involves uploading a photo ID like a passport or driver’s license. Some exchanges might require additional verification such as a recent utility bill to confirm your address.
3. Set Up a Secure Crypto Wallet:
To ensure the safety of your investments, store your Chainlink tokens in a dedicated crypto wallet rather than keeping them on the exchange. There are various crypto wallet options available that support Chainlink. Research and choose one that aligns with your security preferences and usability needs.
4. Fund Your Exchange Account:
Log into your chosen exchange and navigate to the deposit section. Deposit Australian dollars (AUD) using bank transfers or other accepted payment methods. Many exchanges might also accept BPAY or POLi payments. If your chosen platform doesn’t directly support AUD/LINK trading pairs, you may first need to purchase a primary cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH).
5. Purchase Chainlink (LINK):
Navigate to the trading area of the exchange. Locate the appropriate trading pair, such as LINK/BTC or LINK/ETH. If there’s an option for a direct AUD/LINK trade, it simplifies the process. Specify the number of Chainlink tokens you’d like to buy, review the transaction details, and confirm the purchase.
6. Transfer Chainlink to Your Secure Wallet:
For an additional layer of security, it’s advisable to move your Chainlink tokens from the exchange to your private wallet. On the exchange, find the ‘withdraw’ or ‘transfer’ option, enter your wallet’s receiving address, confirm the details, and complete the transfer.
7. Monitor Your Investment:
After purchasing Chainlink, regularly check its value. Use apps or platforms that provide cryptocurrency prices and set up alerts for significant LINK price changes. Given crypto’s volatility, staying informed helps guide future decisions regarding your Chainlink holdings. Adjust your strategy based on both market trends and your financial goals.
Featured Partner
Invest with a crypto brand trusted by millions
Buy and sell 70+ cryptoassets on a secure, easy-to-use platform
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
Credit: Source link
