Where can I pay with chainlink?
Since bitcoin was launched in 2009, cryptocurrency has become more and more widespread. Because of that, more places - primarily abroad - have begun accepting cryptocurrency as a legal payment method, including chainlink (also called LINK).
As of 2022, it’s still very few stores and websites who accept cryptocurrency in Denmark. If they do, it’s usually the most popular cryptocurrencies such as bitcoin and ethereum .
Chainlink actually wasn’t developed to be a payment method in the classical sense, such as bitcoin for example is. Chainlink is a token, while cryptocurrencies such as bitcoin (BTC) or ethereum (ETH) are coins.
You can easily buy and sell chainlink in the same way as other cryptocurrencies - but the whole idea behind chainlink is that it’s a token, which is to be used to pay for certain activities on a blockchain.
The difference between coins and tokens
Cryptocurrencies such as bitcoin and ethereum are coins. They’re coins, because bitcoin is connected to bitcoin’s blockchain, and ethereum is connected to ethereum’s blockchain.
Chainlink is a token, because it was originally built on top of ethereum’s blockchain. This means that chainlink doesn’t have its own technical system to handle and validate transactions. Instead, it uses ethereum’s existing technology.
In short, chainlink doesn’t have its own blockchain, but instead it uses an existing blockchain. That’s the primary difference between coins and tokens.
On top of that, chainlink is special, because it’s not developed with the purpose of being a payment method, like bitcoin was. Instead, it’s developed to activate certain features in a blockchain.
Example:
Imagine you’re in a good old-fashioned laundromat, where you need to buy tokens to use the machines. You’ll exchange your Danish kroner for laundromat-tokens and the only feature these tokens have is to activate the washing machines and dryers.
That’s kind of how chainlink tokens work as well.
Instead of a laundromat it’s a blockchain. Instead of laundromat tokens, it’s chainlink tokens. And instead of a washing machine and a dryer, it could be smart contracts and NFT’s .
But it’s also possible to exchange the laundromat-tokens back to regular money, and the same goes for chainlink tokens. When you have a Lunar Bank account, you can get your token’s value paid out directly to your bank account via your phone.
Sign up to Lunar Block
Easily withdraw your chanlink tokens
Lunar Block is probably Denmark’s easiest platform for buying and selling chainlink and other popular cryptocurrencies. You can trade crypto directly from the app at a set, low price.
You’re getting a set, low trading price of 2,5% of your purchase and sale price as a Standard user, and 1,5% as a Premium user. If you have Lunar Pro, that price is just 1%. You’re also avoiding the typical fees such as deposit fees, withdrawal fees and safe deposit fees.
Now, when you need to use the money to pay for something physically in a local store, you can exchange your crypto when you have an account in Lunar Bank. Here, the currency is DKK.
You’re never more than a few swipes away from exchanging your crypto value to DKK.
With Lunar Block, it’s not just chainlink you could trade. You’re also getting access to a number of the most popular cryptocurrencies such as bitcoin, ethereum, dogecoin, cardano and many more.
With Lunar Block you can buy cryptocurrency - without investing all of your time.
Download the Lunar app and begin your crypto-journey today
We do not counsel
We do not advise on currencies and do not make recommendations for either buying or selling. We can provide factual information about the different currencies, but past price developments are not an indication of future developments.
No information from Lunar Block should therefore be considered as recommendations and all decisions are up to you alone.
How to pay with chainlink
There are several websites and platforms that offer exchange services where you can exchange your chainlink tokens to money that stores will accept - such as Danish kroner (DKK).
For example, with Lunar Block, you can buy and sell chainlink directly from your phone, and when you need to use the money, you could easily exchange the cryptocurrency to DKK directly from the app. The money will be deposited to your Lunar bank account, and you can now use the money exactly how you want to.
And it’s not hard to get started. All you have to do is download the Lunar app and sign up to Lunar Block. Here, you need to complete a test to ensure that you know the risks connected to buying and selling cryptocurrency.
Now, you’re ready to trade chainlink and many other popular cryptocurrencies. When you need to use the money to pay for something in a store, you can withdraw your crypto as long as you have a bank account with Lunar Bank.
Download Lunar now
You could also look towards foreign platforms who offer similar services. A popular service is crypto debit cards, among other things. Check out this list of popular issuers of crypto debit cards here:
Please note: These issuers are foreign platforms and we cannot vouch for their security nor credibility. The platforms are among the most popular on the market, but you should always be cautious when dealing with cryptocurrency.
If a trustworthy and transparent platform is important to you when you’re trading cryptocurrency, Lunar Block is a great place to start. Our prices are always transparent and you can get started in a matter of minutes.
Cryptocurrencies can rise and fall
When you trade cryptocurrencies, you need to be aware that it carries a large risk. The value of your cryptocurrency can both rise and fall, and you can risk losing the entire amount you’ve invested in cryptocurrencies.
Cryptocurrency trading is done through Lunar Block. Lunar Block is not regulated by the Danish Financial Supervisory Authority (Finanstilsynet). That means you won’t have the same protection as when trading e.g. stocks or other regulated assets.
We do not counsel
We do not advise on currencies and do not make recommendations for either buying or selling. We can provide factual information about the different currencies, but past price developments are not an indication of future developments.
No information from Lunar Block should therefore be considered as recommendations and all decisions are up to you alone.
Last updated April 18, 2023. We’ve collected general information. Please note, that there may be specific circumstances that you and your business need to be aware of.
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