Chainlink is a network that feeds outside data, such as prices, into smart contracts. LINK is the ERC20 token used within that network. It has been traded since 2017 and is held by developers, node operators and long-term crypto investors.
Quick facts for merchants
- Network in Payfim: Ethereum mainnet, ERC20.
- Token contract checked:
0x514910771af9ca656af840dff83e8264ecf986ca. - Receiving address: any Ethereum address you control,
0xplus 40 hex characters. - Default confirmations: 6.
- API key: free Etherscan API V2 key required.
- Amount precision shown: up to 8 decimals.
Who actually pays with LINK?
LINK is a niche payment option, and that is fine. It makes sense when your customers are part of the Web3 world: blockchain developers buying tools, infrastructure or courses, node operators paying for hosting, or communities that hold LINK and want to use it without swapping first. A hosting company selling servers to node operators is a typical case.
For a general consumer shop, LINK rarely moves the needle on its own. The good news is that once you have set up ETH, adding LINK is a one-minute job with no extra cost.
What will a LINK payment cost the customer?
Sending LINK is an ERC20 token transfer, so the customer pays Ethereum gas in ETH. Token transfers use more gas than a plain ETH transfer. In late September 2026 Ethereum gas was low, with Etherscan's tracker showing a standard ETH transfer at well under a dollar; a token transfer costs a multiple of that, and all of these numbers rise when the network is busy.
One consequence surprises people: a customer who holds LINK but no ETH cannot pay. Their wallet will show an error or refuse to send. If LINK is a headline option for your audience, say so on the checkout page.
Timing follows Ethereum: blocks about every 12 seconds, and 6 confirmations usually take a couple of minutes.
Where should the LINK go?
Into an Ethereum wallet whose recovery phrase you hold, ideally a hardware wallet if you expect meaningful volume. You can reuse the same address you use for ETH, USDC and USDT ERC20, since Payfim identifies each token by its contract. Keep some ETH there too; you will need it to move the LINK later.
Enable LINK in Payfim
If you already accept an Ethereum-based coin, step 1 is done.
- Save a free Etherscan API V2 key under Wallets & coins → Blockchain APIs.
- Paste your 0x address into the Chainlink – Ethereum (ERC20) row.
- Leave the confirmations box empty for 6, turn the coin on, and click Save wallets.
- Press Test and run a small test payment from the dashboard before announcing it.
How does Payfim avoid fake LINK tokens?
Anyone can deploy a token and call it "LINK". Payfim queries only transfers of the official contract listed above to your address. A transfer of any other token, however it is named, is ignored and cannot mark an invoice as paid. This is the same protection Payfim applies to USDT and USDC.
Holding or converting the LINK you receive
Payfim is non-custodial: you receive LINK itself, in your own wallet, and nothing is converted on your behalf. That is the point for many merchants, but it means you own the treasury decision. Some stores hold, some sell on a schedule, and some move each payment to an exchange soon after it arrives.
If you would rather be paid out in dollars automatically, a hosted processor that offers auto-conversion may suit you better; we compare those trade-offs in Payfim vs Coinbase Commerce and Payfim vs BitPay.
For records, the gateway admin can export invoices to CSV with the order, coin, crypto amount, amount received and transaction hash. How token income is taxed differs between countries, so ask a qualified professional.
Pitfalls with LINK payments
- LINK on another network. LINK also exists on other blockchains, including layer 2 networks and other EVM chains that use the same 0x address format. A customer who sends from one of those will not trigger the invoice, because Payfim only watches Ethereum mainnet for LINK. The funds may still be reachable on that network if the address belongs to a wallet you control.
- No ETH for gas. Covered above; the customer's wallet simply will not send.
- Exchange fee deducted from the amount. If the arriving amount is more than 0.5% short, the invoice is flagged underpaid and your store is notified.
- Exchange deposit address as receiving address. Avoid it. Deposit addresses can change and exchanges may not credit unusual token deposits quickly.
Before you advertise LINK, run a test payment from a second wallet. It confirms that your Etherscan key, address and cron job all work, and it shows you exactly what customers will see on the payment page.
Related
See how Payfim handles secure checkout best practices, and check the full list of networks on supported coins. Developers integrating directly can use the PHP and Laravel SDK.
Sources
Third-party facts were checked on the date shown above. Prices and features of other services change - always confirm on their official pages.