How to Purchase Bitcoin (BTC) using Chainlink (LINK)

To buy Bitcoin using Chainlink, first, find a cryptocurrency exchange that supports the BTC/LINK trading pair, such as Nexo, YouHodler, Binance or BTSE. Create an account, verify your identity, and deposit your LINK into your exchange wallet. Locate the BTC/LINK pair on the trading platform and place an order to exchange your Chainlink for Bitcoin. If the BTC/LINK pair is unavailable, you can first exchange Chainlink for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Bitcoin. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.