How To Buy Chainlink South Africa – All You Need To Know
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Are you thinking of how to buy Chainlink in South Africa? Don’t worry; the process is straightforward. All it takes is to choose a reliable broker’s website online and register within a few minutes. Once you’ve completed the simple steps, you can buy the quantity of LINK you need, and that’s it.
Luckily, there are reliable and efficient online brokerage sites where you can buy Chainlink without hassles. Using top brokerages and exchanges such as Capital.com, Coinbase and Binance are the safest and cost-effective platforms to buy Chainlink in South Africa.
Table of Contents
Buy Chainlink at Capital.com – South Africa’s #1 Platform
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This article gives you the right guide on how to buy Chainlink in South Africa at the lowest charges. Also, you will get an insight on the price performance of Chainlink, why, and how to buy Chainlink on Capital.com.
How to Buy Chainlink – Quick Four-Step Guide
It’s very easy to buy Chainlink in South Africa. Use the following quick 4-steps to buy the crypto within a few minutes through any platform like Capital.com:
- Open an Account with Capital.com – The easiest way to buy Chainlink in South Africa is through Capital.com. a CFD broker. Sign-up for an account using your details to enjoy 0% commission on trading on the platform.
- Upload ID – Simply upload any government-issued ID (passport or driver’s license) and a recent utility for your account verification process.
- Deposit Funds – Deposit your funds using any supported payment option on the platform.
- Buy Cryptocurrency – Search and select the crypto Chainlink, then purchase some.
Where to Buy Chainlink South Africa
Chainlink’s performance in the crypto industry is top-notch. This is why crypto investors are diving into it without reservation. When you’re considering where to buy Chainlink in South Africa, ensure you’ll use a reputable and safe platform for that.
Chainlink is listed on several brokerages and exchanges, and one can easily be confused about the one to use. But remember that using the right and safe platform gives you some benefits when buying Chainlink.
Not only will you be sure of the security of your funds, but you will also buy the digital asset at a lower price. Moreover, some of the top sites have some special features that will assist their users in crypto trading. For example, here are some of the top brokerages to use when buying Chainlink in South Africa.
1. Capital.com – Best Platform to Buy Chainlink South Africa
Capital.com is a global CFD and forex broker with physical offices in Cyprus, London, and Belarus. It is referred to as a fintech company founded on April 7, 2016, with Ivan Gowan.
The company aims to enhance the world of finance by making it more helpful, accessible, and engaging.
This broker has lots of financial assets apart from Bitcoin. You can access stocks, commodities, ETFs, Forex, Indices, etc. Bear in mind that Capital.com allows investors to trade crypto as CFDs. So, you don’t have to worry about the storage or ownership of your Bitcoin.
Capital.com is regulated by the Financial Conduct Authority(FCA) UK and the National Bank of the Republic of Belarus (NBRB).
It’s also regulated by the Cyprus Securities and Exchange Commission (CySEC) and operates in over 183 countries globally. Capital.com is regarded as a reliable broker because it’s regulated by the top-tier FCA.
A table of the broker’s fees.
| Items | Fee | Fee Terms |
| Deposit | 0 | No Deposit fee |
| Withdrawal | 0 | No Withdrawal Fee |
| Trading fee | $3.1-$6.4
(45.2SGD -93.46SGD) |
varies |
| Inactivity | low | No inactivity fee |
Pros
- It has excellent customer support that provides a quick and detailed response.
- The account opening process is easy, user-friendly, and fast.
- It has low stock CFD fees.
- It takes as low as $20 (27.04SGD) direct fund deposit, and $250 (338.01SGD) for bank transfers.
- com charges a zero-commission fee for deposits and withdrawals.
Cons
For any beginner in the crypto industry trying to buy Chainlink, Coinbase is a great platform for you. Coinbase is reputable for being the best user-friendly interface to navigate and perform crypto transactions seamlessly. We can say it contributes to over 35 million users on the site. Moreover, the platform is reliable and secured. From its time of time from 2012, Coinbase is continuously providing its customers the best services. The exchange is under the regulation of the SEC. Some features like address whitelisting, two-factor authentication, email notifications, and others add security for users. Using Coinbase allows you to personally schedule your Chainlink trades as you desire. You can choose the monthly, weekly, or daily options for your transactions. But you must first have an account with Coinbase before you can buy Chainlink using the exchange. So, visit the official website and sign up for an online account using your details. After verifying your account, make a fund deposit using any of the supported payment methods. Some of the options for funds deposits are debit/credit card transfers like Visa and Mastercard and bank wire. There, you are good to buy your Chainlink tokens. Coinbase has a fee of 3.99% for debit cards deposits though the charge for bank wire is cheaper. Also, the trading commission on the platform is 1.49%. The broker allows you to withdraw Chainlink to a private wallet after purchasing. Below are some of the pros and cons when using Coinbase. Pros Cons Binance is one of the prominent platforms that offers reliable and quick crypto transaction experiences. The platform is easy to navigate, and within a few minutes, you can buy Chainlink in South Africa. The platform is highly trusted and secured. It has a great operating system that ensures maximum security to its users. Some features such as the Secure Assets Funds for Users (SAFU), multi-tier and multi-cluster system architecture are unique handy tools. As the world’s largest platform in trading volumes and liquid, Binance supports hundreds of cryptocurrencies. Through the platform, you can access several crypto pairs for Chainlink, such as BTC/LINK, ETH/LINK, XRP/LINT, etc. Also, from Binance, you can buy and transfer Chainlink to another person anywhere, thereby transferring value globally. To buy Chainlink from Binance, open an online account at the Binance website using your detail and proceed to deposit your funds. The platform allows deposits through bank transfers and credit/debit cards. The exchange has a fee of 3% for card deposits. Additionally, using Binance gives you access to the digital wallet for your cryptocurrencies on the platform. So if you have no private wallet, you’ll still conveniently store and secure your digital assets. Moreover, Binance offers great trading tools for its users. There’s a level 2 order book on the platform that active daily investors can leverage while scheduling their transactions. This order book displays lists of the best ask and bid prices by crypto sellers and buyers. So Binance advanced mode (for professional) and classic mode (for beginners) provide every user the right tools for crypto trading. Below are some of the pros and cons of using Binance. Pros Cons Once you’ve decided on buying Chainlink in South Africa, you can follow the full guide below. Again, the process is completely seamless and the most cost-effective platform to use is Capital.com. Visit the official website of Capital.com, click “register now”. Then input your email address and create your password. After concluding the account sign-up process, you will have access to a demo account on the platform. This will assist you in learning the processes of buying or trading on cryptocurrency as a newbie. Account verification is one of the prerequisites for trading in Capital.com. Being under the regulation of some giant financial agencies such as the FCA and others, the broker maintains KYC compliance. Thus, every account must undergo verification. The verification process requires an upload of any government-issued ID such as a passport or driver’s license. Also, you’ll upload a copy of your recent utility bill or bank statement that is not more than 3 months. After the upload, Capital.com sends a notification message to When you get a notification for the account verification, you can deposit your funds. Capital.com accepts the deposit of South African Rand. It later converts it to USD, one of the fiats for crypto transactions. Log in to your online account and click the DEPOSIT button. Then select any payment option that is suitable for you. The broker supports deposits through bank transfers, e-wallets, and debit/credit cards. The minimum deposit on the platform is $20. This is considerably low in comparison to other competitors in the industry. With Capital.com, there’s no deposit fee for any method of transfer that you choose. While bank transfers may take a longer time to reflect in your account, transfers from cards and e-wallets are instantaneous. You can buy any cryptocurrency of your choice after funding your account. First, search for the digital asset your want to buy in the search box. Then select the crypto and USD pair that matches your choice. For instance, when buying Bitcoin, you will choose USD/BTC. Proceed by clicking the TRADE button. Then, input the amount of the digital asset you’re buying and set your order. Ensure you confirm your order and click the TRADE button. The broker will buy your cryptocurrency according to your order. That’s it! Your trading journey just started! It is not just enough to say that Chainlink is a profitable investment without backing it up with good reasons. In addition to adopting more features into its network, Chainlink has enabled staking on its platform recently. They have also upgraded to a decentralized version- Chainlink 2.0, which has increased their advantage. Below are the five good reasons why you might consider investing in Chainlink in South Africa. Chainlink is among the first oracle protocol that most digital projects adopt. Generally, Chainlink supports a lot of ventures and projects both inside and outside the crypto industry. These ventures are related to blockchain, data providers, compliance, infrastructure, Defi, payments, NFTs, developer tools, marketing real estate, and gaming. Chainlink benefits more with this type of exposure and interaction with different kinds of data from various blockchain ecosystems. Crypto is known for its frequent integration with new partners; you can check their Twitter handle for more information. The founding team members of Chainlink consist of professionals with experience in various fields. They come from various backgrounds to develop this multidisciplinary and unique protocol. Many crypto and blockchain analysts, leaders, and investors believe that Chainlink has the best team to work with. Sergey Nazarov is the founder and CEO of Chainlink. He is a young entrepreneur in his thirties and has gained a lot of experience in the crypto market since 2011. He was born to Russian immigrants and studied Philosophy and Management at New York University. He first developed a platform for creating programmable contracts for beginners known as smartcontracts.com. Ari Juels, Alex Coventry, and Lorenz Breidenbach are other notable members of the protocol team. Ari Juels is a faculty member and a professor at the Cornel University Ithaca, New York. He is a co-director of the (SCC) smart contracts company IC3 and also RSA chief scientist. Alex Coventry is a Chainlink researcher with a Ph.D. in Applied Mathematics from MIT (Massachusetts Institute of Technology). More so, Lorenz Breidenbach is Chainlink’s security researcher and was a formal BRIDGE fellow with working experience from IC3 and ETH Zürich. He has worked with Ari and has also researched at Cornell Tech with an interest in Google and Open Systems. However, the Chainlink project was developed as a centralized oracle system for verifying incoming information. The Chainlink protocol has a second upgraded decentralized version known as Chainlink 2.0 with the LINK as its native token. The LINK token serves both as a utility token and a full collateral staking token. This transition is known as ‘Explicit Staking.’ It implies that Node Operators will adopt the LINK token to ensure the accuracy of the oracle data entering the network. The mechanism is that the LINK stake of the Node Operators slashes whenever they feed bad or wrong data into the network. This economic implication will surely make them always provide accurate data to prevent their stake from being slashed. The Chainlink protocol has a total trading volume of over $884 million(12.879 billion Rands) listed in Coinmarketcap of July 22, 2021. There are so many blockchain projects, blockchain networks, and decentralized protocols in the Digital market. But the truth is that they all need real-world data to be useful or recognized. The LINK token is an ERC677 token that mimics the standard functionality of the ERC20 token. It is also built on the Ethereum Blockchain, but the Chainlink network itself is designed to be flexible. The Chainlink aims to supply data to any smart contract network or blockchain. Many blockchains such as Cosmos, Polkadot, Binance Smart Chain, and NEAR, etc., have integrated it into their network. This implies that Chainlink investment in South Africa might be rewarding if there is more multi-chain adoption in the future. Another reason for you to consider investing in Chainlink is its tax advantages. This benefit applies to Chainlink investments made via the Crypto IRA’s. For instance, the Bitcoin IRA contains both Bitcoin and other digital currencies in its digital portfolio. Crypto coins in the (IRAs) Individual Retirement Account are taxed as stock properties or bonds. However, investing in Chainlink through the IRAs in South Africa is tax-free, unlike other cryptos. For instance, If you as an investor buy Chainlink worth 14 Rands using the IRA portfolio and it grows to say 145 Rands in a few years. The profits of $9,000 will not be taxed; they are completely free. Therefore, chainlink investors who wish to focus on a long-term investment are advised to use a crypto IRA. Presently, there are so many ways to buy Chainlink. You can either use your crypto holdings like Bitcoin, PayPal, or other e-payment options. Some crypto exchanges may allow you to buy directly using a fiat currency with your Credit/Debit card. The choice is yours, depending on the payment option that best suits you. The majority of the crypto newbies prefer using a crypto exchange or a broker based on the payment options available. You can check the various payment methods that are safe for buying the Chainlink in South Africa below. This payment method is the easiest and quickest among other options. Moreover, the debit card allows you to buy Chainlink with funds from your traditional bank account directly. Carefully input your login details after registration to enter the Capital’s homepage or trading dashboard. Click on the ‘Deposit’ button and then select either ‘credit or debit’ from the drop-down menu. Input the amount of money you wish to buy Chainlink with and then hit the ‘Deposit’ button to continue. Confirm the fund in your Capital.com account, search for the LINK token to place a buy-order on the Chainlink page. Buy Chainlink via Credit/Debit Card with Capital.com Now > This is the second payment method that you can use to buy Chainlink in South Africa. But you will need a trusted trading platform that supports PayPal. You can also use a reputable crypto exchange that allows a peer-to-peer (P2P) marketplace. The good news is that Capital.com is among the trading platforms that accept PayPal as a payment option. Binance, aside from being a reliable trading platform, also supports P2P crypto exchange. Crypto investors on the Binance P2P platform are allowed access to more crypto options in the market. Buy Chainlink via Paypal with Capital.com Now > Buying Chainlink with bitcoin is a good payment option for investors that already have Bitcoin crypto in their holdings. Whether the bitcoin is in a wallet or on another crypto exchange, you can still use it to buy LINK. The major requirement is to look for a LINK / BTC trading platform. This implies that you need an exchange or broker that can give you a LINK in exchange for your BTC. Once you get a reliable platform, you will be required to register/login as the case may be. It is important to check the two-factor authentication box to secure your account. If you are using the Binance exchange, for instance, go to markets after logging in. Then carefully follow the instruction of the display screen to complete the exchange. Buy Chainlink via Bitcoin with Capital.com Now > The performance ratings of all projects and protocols in the digital market are like a two-faced coin. They have their benefits as well as risks associated with buying them, and Chainlink crypto is never an exception. Therefore, investors should always study, understand and evaluate them before deciding on any of them. However, check the risk of buying Chainlink in South African below; Chainlink raised about $32 million (470million Rands) during their ICO in 2017 with a total token supply of 1billion. However, the team only sold 35% of this supply to investors, kept another 35% for the node operators. But they reserved the remaining 30% for the development of the company. However, investors and other crypto users in South Africa have been reacting to this development since then. And it could be a red flag since this behavior might affect the interest of the investors in buying the Chainlink token. Price volatility in the digital world is the rate at which the price of a digital currency increases or decreases. Digital currencies are known for their frequent price fluctuations; they are never stable and can be highly volatile. Chainlink is also in the picture. It rated $4.85 (71.2 Rands) on July 1, 2020. Then on May 9, 2021, it recorded great success and increased to $52.2 (766.4 Rands). However, this same coin, as of today, July 22, 2021, has depreciated to $15.54 (228.3 Rands). Chainlink was developed in 2014 as a centralized oracle system for verifying incoming information. It took the team 3 years before launching it in 2017. Again, it took them time to upgrade the network to reduce the transaction fee and develop the second version-Chainlink 2.0. It was even recently that the team integrated the LINK token as a staking tool after 7 years. Here, were are going to analyzing the price of Chainlink from the time it was launched till date. Chainlink, as at the time of launching, is valued at $0.11 (1.62 Rands). Three years after, on December 21, 2020, it was $12.34 ( 181.99 Rands), giving it growth of 11,000%. This growth rate has been associated with many price highs and slows stretched throughout the period. In January 2021, the crypto continued with its struggle towards the rising side and was able to hit $42.75(629.67 Rands). This high was recorded on April 16 in addition to the highs of February 14th and 19th, respectively. The Chainlink crypto maintained an upward price trend within January and May. It rose to $52.2 (768.96 Rands) on May 9th with a 24hour trading volume of over $ 3billion (44.9billion Rands). But hope started dropping towards the ending of may when the crypto price slashed to $20.1(295.99 Rands). This gives the crypto a 47% decrease from the high of April; it is yet to bounce back to that high since then. The Chainlink is currently trading at $15.46 (227.69 Rands), as seen in the graph below. In terms of transaction fees, it varies with the trading platform that you choose. Trading platforms like Capital.com offers a zero-commission fee. But if you are buying LINK through exchanges like Binance, you will be charged some fees. The price of Chainlink slashed to over 70%, from $52.99 (780.65 Rands) on May 10 to $15.00 (221.04 Rands) on May 23. The crypto price rose again within June, moved up and down sluggishly, and return to even a lower rate. The Chainlink price outlook is mixed because it lacks relative strength to maintain a price flow pattern. The rate the crypto price fluctuated between May and June is very high. This price movement is attributed to the fact that Chainlink does not give a high level of trading support. This accusation is still subject to verification. To stabilize the price outlook, the Chainlink price needs to maintain a price above the declining value of May 10. It would be better for the crypto to at least adopt that June 12 price rate of $20.02 (294.9 Rands). Chainlink needs to achieve this target to gain back the interest and trust of its investors. But if Chainlink doesn’t cross or at least maintain this June 12 price rate, the coin value will be badly affected. From the price chart below, the coin is still struggling to reach the June 12 benchmark. A decrease below the current price will be like nailing the crypto, and that would be very bad for investors. However, since the LINK is still making an effort to rise again, all hope is not lost yet. The graph’s sharp bend of the downward movement is a positive sign that Chainlink has plans to rise anytime soon. Again any increase in the buying pressure will make the crypto surprise its competitors. The Chainlink’s price prediction graph is attached below; There are two basic ways of selling the Chainlink crypto, just like other digital currencies. You can either sell it in for fiat currency or in exchange for another digital currency like Bitcoin or Ethereum. The processes are similar depending on the exchange of broker you wish to use. We have outlined below a step-by-step guide that you can follow to sell your Chainlink crypto in South Africa. Look for a reliable crypto exchange that trades on Chainlink like Capital.com. Follow the display instructions to register with the exchange by carefully inputting all the required details. Some personal information like your name, phone number, home, and email addresses are required. You must activate the two-factor authentication as soon as you are signed in. This will help to fortify the security of your account. Proceed to move the Chainlink from your wallet into your online exchange account. You will first copy the wallet address where you stored the Chainlink. Then, simply click on the Wallet button and select LINK. You will finally get the address for depositing the Chainlink by clicking on Generate Deposit Address. Follow the on-screen direction and complete the fund deposit. After confirming the deposit, you will choose the fiat currency for Chainlink from the ‘TRADING PAGE’ box. For instance, if you want to sell your Chainlink for USD, you will select LNIK/USD from the dropdown. Next, enter the amount of LINK you’re selling. Reconfirm your sell order and click the SELL button. The crypto exchange you’re using will then execute your sell order at this best market price. Once your sell order is executed, you can cash out the fiat currency cash account you used for your registration on the platform. However, expect some fees based on the crypto exchange you’re using. You can sell Chainlink for another digital asset like Bitcoin or Ethereum using the following steps: If you already have an exchange account, you can move to the next step. If not, you’ll need to register. Choose any trusted crypto exchange that has Chainlink on its list. Then create an online account with your detail in a few minutes. Transfer your Chainlink from your private wallet into your online exchange account. Proceed by clicking the Exchange button. Select the corresponding crypto pair that you want. For instance, you can select LINK/BTC if you’re exchange Chainlink for Bitcoin. Next, enter the amount of Chainlink you are selling or the number of other crypto pairs you’re exchanging for. Then, confirm your order and click Exchange. You can then move the digital asset to your private wallet for maximum security. However, always remember that leaving your cryptocurrencies in an exchange account exposes them to more security risks like hacking. Chainlink is a project that runs in a decentralized manner to bring real-time data to the digital on-chain. The uniqueness of this digital asset lies in the fact that it’s a means for the global transfer of value. That’s why many people in different places, including South Africa, are investing heavily in Chainlink. The price-performance, analysis, and prediction for Chainlink show that the digital asset has a good future. Therefore, you can venture into the speculative world both on a short and long-term basis. However, you should understand the possible risks with Chainlink and ascertain your risk tolerance level before investing in this Cryptocurrency. Furthermore, using a secured and low-cost means to buy Chainlink is one way to leverage your investment in the digital asset. Capital.com is a great option when you’re considering where to buy Chainlink in South Africa. The overall features and operations of the platform make it a better choice for both beginners and professional investors.
2. Coinbase – The Best User-Friendly Platform To Buy Chainlink In South Africa
Coinbase’s Transaction Fees
Transaction
Fees
Commission on trading
1.49%
Debit card transfer
3.99%
Bank Deposit
0%
Withdrawal (minimum)
R7.50
Crypto conversion
0.5% to 2%
Purchases
0% to 0.5%
3. Binance – The Overall Largest Platform in Trading Volumes
Binance’s Transactions Fees
Transaction
Fees
Trading commission
0.1%
Deposit from credit/debit cards
3% – 4%
Buy Chainlink in South Africa – Capital.com Guide
Step 1: Open an Account
Step 2: Verify Your Account
Step 3: Deposit Your Funds
Step 4: Buy Cryptocurrency
Why Buy Chainlink?
The Ecosystem and Network Effects
The Founding Team
Explicit Staking
Blockchain Agnostic
Tax Advantages
Safest Ways to Buy Chainlink in South Africa
Buying with Credit/Debit Card
Buying with PayPal
Buying with Bitcoin
Risks of Buying Chainlink in South Africa
Low Token Distribution to Investors
Price Volatility
Low development speed
Chainlink Price Analysis – Should I Buy
Chainlink Price prediction
Selling Chainlink – A Quick Overview
Selling Chainlink for Fiat Currency
Selling Chainlink for Another Cryptocurrency
Conclusion
Leading Platform to Buy Chainlink: Capital.com
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Mobile AppYes
FAQs
How to Buy Chainlink?
Where to Buy Chainlink?
Is Chainlink A Good Investment?
Is Chainlink Safe to Invest In?
How to Sell Chainlink?
