How to trade Chainlink coin
Chainlink is a decentralised oracle infrastructure that connects smart contracts on the blockchain network. Learn how to buy and trade Chainlink (LINK).
What’s on this page?
|Trading Chainlink through CFDs with us||Buying Chainlink via an exchange (not possible with an IG account)|
|Capital required to open a position||Margin for retail clients is 50% of the total value of the coin||Full cost of the coin|
|Short selling?||Yes||No – unless there’s a willing counterparty|
|Regulation||We’re a regulated company||No dedicated regulatory body in place|
|Restrictions on funding and withdrawing||None, withdrawing or adding funds is free||You may be charged penalty fees for adding and withdrawing funds|
|Execution||0.0141 second execution speed, with access to our deep liquidity||Dependent on exchange liquidity levels|
|Overnight funding charges?||Yes||No|
Investing in Chainlink (LINK)
Owning a stake in the Chainlink network means you’ll buy the LINK cryptocurrency (invest). Once you’ve got ownership of the LINK tokens, you can make gains on your investment by selling them if the coin increases in value. If the coin decreases in value, selling them would result in a loss.
To start the Chainlink investment journey, you’ll have to find an online broker that lets you buy cryptocurrencies. You’ll need a Chainlink wallet to keep your LINK coins until you decide it’s time to sell them. We currently don’t offer this possibility.
Trading Chainlink with CFDs
Trading on Chainlink with CFDs, or ‘contracts for difference’, involves speculating on LINK coin’s price – whether it rises or falls. Your profit or loss will depend on whether you’ve made the right predictions.
Keep in mind that, when investing, you wouldn’t take direct ownership of LINK coins, so there would be no need for you to open an exchange account or Chainlink wallet.
Here’s how trading Chainlink with CFDs works:
- Open a trade: trade Chainlink by going long (‘buy’) if you predict a price rise or short (‘sell’) if you think it’ll fall
- Pay an upfront margin: open your position with a deposit – called margin – which is a fraction of your total market exposure. Trading Chainlink will give you exposure to the underlying cryptocurrency without taking direct ownership
- Use leverage: when trading Chainlink with CFDs, you’ll use leverage. This provides full exposure to the underlying Chainlink coin at a fraction of the cost you’d normally pay upfront. Any gains and losses made from leveraged products can be magnified – always take measures to manage your risk
- Beware of the risks: your losses could far outweigh your margin, since profits and losses made on the leveraged products is calculated based on the total position size and not the initial deposit. When trading with us, make use of our risk management tools
- Remember overnight funding costs: keeping a short-term trade open overnight comes at a cost. You’ll be charged a daily interest fee that’s applicable to cash CFD positions held through 10pm (region)
How to trade Chainlink
Once you’ve done your research and monitored the market performance of Chainlink, you could decidethat you’re ready to take a position.
Here’s how to trade Chainlink with CFDs:
- Create a CFD trading account or log in to your existing account
- Open the trading platform and type ‘Chainlink’ into the search bar
- Select ‘buy’ or ‘sell’ on the deal ticket
- Set your position size, as well as your stops and limits
- Click ‘place deal’ to confirm the position and open the trade
You can practise trading Chainlink with us by opening a risk-free demo account. You’ll get $20,000 worth of virtual money to test out our platform. The demo account also enables you to get familiar with managing your risk when trading cryptocurrencies.
How to trade LINK summed up
- Chainlink is a cryptocurrency infrastructure that connects real-world data and smart contracts on blockchain network
- The LINK cryptocurrency is the token that you can buy to own part of the Chainlink network
- Trading the LINK cryptocurrency means you’re taking a speculative position on the price of Chainlink
- You can trade Chainlink with us using CFDs
- Ensure you monitor and analyse Chainlink’s price movements by using technical and fundamental analysis
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.