How to buy ChainLink (LINK) in Australia?
- 1. Get an Ethereum wallet
- Since ChainLink is an ERC20 token you need an Ethereum wallet to purchase it.
- This is where you will store your purchased cryptocurrency. You can get a free online wallet or a hardware wallet.
- Elbaite does not hold your cryptocurrency in their own centralised wallet. Elbaite believes, your cryptocurrency is only yours if it is in your wallet.
- 2. Find an offer from a trusted seller
- Find an offer on a peer to peer exchange at a price and amount you would like to buy.
- Elbaite is a peer to peer exchange that connects trusted sellers to trusted buyers through our unique TraderTrust system.
- 3. Pay for your purchase
- Pay the agreed amount using your bank account.
- On Elbaite you can pay using OSKO / PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your ChainLink in your wallet. The seller will never know your banking details, keeping your data private.
What is ChainLink?
Chainlink (LINK) is an Ethereum token that powers the ChainLink decentralised oracle network. It was founded in 2017 by Sergey Nazarov and Steve Ellis. Their aim was to solve the problem of mis-trust associated with using off-chain information to execute smart contracts.
The ChainLink network acts as a middleware for Ethereum smart contracts to securely connect to key off-chain resources like external data sources, APIs, and payment systems. The ChainLink network exchanges the LINK token to users who are connecting an information feed to smart-contracts.
More ChainLink information