Understanding LINK
What is Chainlink?
Chainlink is a groundbreaking project in the blockchain space, addressing a crucial challenge for smart contracts: accessing external data. Smart contracts, by design, are self-executing and lack the ability to interact with real-world information. This is where Chainlink comes in.
Chainlink operates as a decentralised oracle network, acting as a bridge between smart contracts and external data sources, APIs, and payment systems. It ensures that smart contracts receive accurate, timely, and tamper-proof data, making them more versatile and applicable in various industries, including finance, insurance, and supply chain management.
The native cryptocurrency of Chainlink, LINK, plays a pivotal role in the network's operation. It is used to compensate node operators for retrieving and transmitting data to smart contracts, incentivising them to provide reliable services. Additionally, LINK secures the network by enabling staking and penalties for misbehavior.
Chainlink's decentralised and trustless nature has made it an essential component of the blockchain ecosystem. Its ability to connect smart contracts with real-world data is instrumental in enabling innovative decentralised applications (dApps) and the broader adoption of blockchain technology across industries.
In Australia
How to buy Chainlink in Australia
- 1
Create your Wayex account
Sign up in minutes on iOS, Android or the web.
- 2
Verify your identity
Australian residents aged 18 and over verify once, in-app.
- 3
Deposit AUD with PayID or NPP
Fund your account instantly, with no deposit fee.
- 4
Buy Chainlink (LINK)
Buy LINK at live AUD market prices, then hold it or spend it with the Wayex Card.
Chainlink FAQs
- Can I buy Chainlink in Australia?
- Yes. You can buy Chainlink (LINK) in Australian dollars with the Wayex app. Wayex is an Australian, AUSTRAC-registered platform that has operated since 2018.
- How do I pay for Chainlink?
- Fund your Wayex account in AUD with PayID or NPP, both free, then buy LINK instantly. There is no surcharge on AUD deposits.
- What fees does Wayex charge to buy Chainlink?
- Wayex charges 1% on any crypto buy, sell or spend. AUD deposits and withdrawals via PayID or NPP are free, and there is no annual account fee.
- Can I spend Chainlink with the Wayex Card?
- Yes. Once you hold LINK in the Wayex app you can spend from your balance with the Wayex Crypto Visa Card anywhere Visa is accepted, online or in store.
Explore more
Other coins on Wayex.
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- 01
Download the app
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- 02
Get verified, instantly.
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Learn how - 03
Buy, Sell and Spend!
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