Buy Chainlink
in South Africa

LINK crypto was released in 2017 with an initial price of $0.11. Its price didn’t have a salient change until mid-2019 when it finally could reach $1 per token and continued to grow and ended the year with a price of $4. 2020 was more surprising for this coin because it could mount up to $14 and become a wonderful investment for its owners. LINK could reach its highest price of $37 in February 2021. Although it might seem that LINK didn’t have a great beginning, its price suddenly surprised everyone. However, 2022 wasn’t a great year for this crypto because the LINK price dropped to $19.60 in January, and ended the year at $7.
Like many cryptocurrencies, LINK also had fluctuations. People who want to invest in this crypto would like to know if it will end up profitable. No one knows the answer to this question, but some factors can help investors decide on buying this crypto. One of them is LINK price predictions. Some crypto analysts believe that LINK price may continue to fall until 2027, but then it might increase to $70 and may continue to grow and be around $169 in the next ten years. Therefore, they expect LINK to be a good long-term investment. However, predictions are just some expectations that might not come true. It is better to check the news about this crypto, read its whitepaper, and investigate the price of the day to decide whether it is the best time to buy LINK.

Chainlink is a decentralized oracle network announced in 2017. It runs on the Ethereum blockchain and is used to support advanced smart contracts. Generally, smart contracts are automated agreements on blockchain. But, sometimes, they need to connect to the real world to make some processes possible. Chainlink makes this possible and acts like a bridge between blockchains and external data sources or what is known as off-chain.

Yes, it is legal to buy cryptocurrencies in South Africa. A position paper on crypto assets’
regulation necessity was published by the Intergovernmental Fintech Working Group (IFWG)
with the supervision of the South African Reserve Bank. The position paper's objective is to
offer detailed advice on how to create a regulatory framework for digital assets, along with
recommendations on how to carry out the necessary regulatory changes. According to the same
paper mentioned above, “A crypto asset is a digital representation of value that is not issued by
a central bank, but is capable of being traded, transferred or stored electronically by regular
individuals and legal persons for the purpose of payment, investment and other forms of utility;
applies cryptographic techniques and uses distributed ledger technology.” The proposed
regulations and a policy on the practices associated with crypto assets are also being
developed further, using that same position paper as inspiration.

Yes. According to the Explanatory Memorandum on the Taxation Laws Amendment Bill
provided by the South African Revenue Service (SARS), based on the taxation of
cryptocurrencies in countries such as the United States and India, South Africa appears to tax
cryptocurrencies in line with internationals trends. According to the above-mentioned
Amendment Bill, the treatment of capital gains from investment assets, such as property or
cryptocurrency. If an individual derives a gain or loss from the sale of a property held for
investment purposes, the gain or loss will be taxed as part of the individual's taxable income.
Similarly, if an individual disposes of a cryptocurrency, any gain arising from the disposal will be
subject to tax under the provisions of capital gains tax.
Moreover, in accordance with the same mentioned Bill, if a taxpayer is found to be frequently
engaged in cryptocurrency transactions, they could be considered a cryptocurrency trader. In
such a case, the income generated from the cryptocurrency trade will be included in the
taxpayer's taxable income and will be subject to taxation. This means that all the profits made
from buying and selling cryptocurrencies will be considered taxable income and the taxpayer will
be responsible for paying taxes on it.

LINK coin is mainly used on the Chainlink network as a payment fee or for voting on different processes. It can’t be used as a payment method outside this network. Therefore, it is not possible to use it as a real currency to purchase goods or transfer money. However, this might be possible in the future. You can trade or swap the LINK coins with Eth or XRP and then use it to purchase goods or even use it in gaming or other processes.

Meanwhile, most people buy a cryptocurrency for investment. In this case, the usage is not that important because you only need to keep your coins in a wallet and wait until the right time to sell. Investment needs you to be aware of the crypto market and check the coin price every day. If you are new to this world, we recommend you choose an exit point for your investment. Thus, if the price of LINK reaches that amount, you can easily sell it to get a profit. In the end, we also suggest investing as much as you can afford to lose because cryptocurrencies are volatile, and nothing is predictable in this world.

In South Africa, there is no restriction on who can buy cryptocurrency. Any individual or entity,
regardless of their age, residency, or nationality, can purchase cryptocurrencies as long as they
have access to the necessary technology and financial resources. It is advisable for crypto
buyers to purchase their desired cryptocurrency assets through exchanges. On this note, our
exchange is a reliable and secure option for individuals looking to purchase cryptocurrencies in
South Africa. Our platform is fully compliant with the law and provides a range of payment
methods for customers to choose from, including Apple Pay, Google Pay, credit card, debit
card, bank transfer, and PayPal. Importantly, our exchange does not charge any transaction
fees for buying or selling cryptocurrencies, making it an affordable and accessible option for
those looking to invest in this asset class. Whether you're a seasoned crypto investor or just
starting out, our exchange provides a convenient and secure way to buy and sell
cryptocurrencies in South Africa.