ChainLink (LINK) is a tokenized decentralized oracle network that serves blockchain networks and it is built on Ethereum. This network provides blockchain networks with price feed data, which is obtained from both on and off blockchains. This network offers a solution to what is commonly referred to as the oracle problem, which is the ability to get the off-chain data needed in several smart contracts. Since blockchains are designed to operate as trustless networks, the use of outside data will need integration with a trusted source, which is known as an oracle. ChainLink has been designed to connect off-chain data sources, such as bank payments, data feeds, or APIs, to on-chain smart contracts.
The ChainLink Network is a decentralized network that is comprised of ChainLink nodes. These nodes are all selling usage of specific data feeds, various off-chain capabilities, and APIs directly to a smart contract. The ChainLink coin (LINK) is the native cryptocurrency of the network. It is used in purchasing the data feed, off-chain capabilities, and APIs from the nodes. LINK has gained various use cases thanks to the function of the ChainLink blockchain and the more usage the ChainLink platform has, the more valuable LINK tokens will become.
How Can I Trade in ChainLink (LINK)?
ChainLink is a valuable cryptocurrency in the crypto space in terms of market cap. The large liquidity makes it easy to buy and sell LINK as it is also available on many cryptocurrency exchanges as well as online broker platforms. To put it into perspective, the LINK market cap currently stands at US$1.47 billion, based on a 350 million circulating token supply, with US$337 million in trade volume daily.
The ChainLink coin is a solid investment for investors all over the world because of its expanding adoption and use cases. An increasing number of blockchain networks are using the ChainLink network to get both on-chain, and off-chain data feeds and APIs directly to their smart contracts. As more blockchain networks use the network to obtain the information they require, the ChainLink will continue to boost in value. So far, LINK has established an impressive partnership or proof-of-concept with Google, Oracle, SWIFT and Intel, all of which focus on cloud computing and banking settlements.
To trade or invest in ChainLink is extremely easy as it can be purchased and traded on several cryptocurrency exchanges and online broker trading platforms. ChainLink, like other cryptocurrencies, is available to trade 24/7 giving many opportunities to profit.
Where to Buy ChainLink (LINK)?
There are numerous places to buy ChainLink as it is available on cryptocurrency exchanges and on online broker trading platforms. However, for the safety of your funds, it is best to buy ChainLink from reputable platforms that provide you with adequate security. Let us look at how you can invest in ChainLink via a crypto exchange and how you can trade ChainLink via CFDs (contracts for differences) on a broker’s platform.
Buy ChainLink (LINK) From Exchanges
Cryptocurrency exchanges enable investors to trade a wide range of cryptocurrencies. They are exchange platforms where people can buy, sell or exchange cryptocurrencies for other digital currency or traditional fiat currencies like the euro and the U.S dollar. There are several reasons why you should buy from cryptocurrency exchanges.
- Liquidity: Cryptocurrency exchanges are where cryptos are listed after they are launched. This means that the largest liquidity of cryptocurrencies is found on exchanges. Most of their trading volumes are present on these platforms. Hence, you can easily buy, sell, and trade ChainLink on cryptocurrency exchanges.
- Secure Transactions: When you buy ChainLink from cryptocurrency exchanges, your transactions are secure at all times. It is virtually impossible to lose your ChainLink coins when buying them on cryptocurrency exchanges.
- Instant Transactions: Since crypto exchanges have a large liquidity pool of the ChainLink coins and have millions of users, it is easy to buy ChainLink from them. Buying, selling, and trading the coins on cryptocurrency exchanges are faster as there is always availability of the ChainLink coins on them.
- Buy with traditional currencies: Another reason why you should buy ChainLink coins from cryptocurrency exchanges is that they support fiat currencies. This means that you can use traditional currencies like the U.S dollar, euro, British pound, or other supported currencies to purchase this cryptocurrency, thus, making the process easier and more streamlined.
Amongst the cryptocurrency exchanges, two of them stand out as some of the best. These include:
Binance is the global cryptocurrency exchange leader, as it has the most significant daily trading volume. Binance has the most substantial trading volume of the LINK/USDT and LINK/BTC trading pairs, the two popular pairs of the ChainLink coin. The exchange is secure and provides users with access to a broad market, making it one of the best places to buy, sell, and trade ChainLink.
Kraken is another leading cryptocurrency exchange that supports LINK. It has a large daily trading volume of the LINK/USD and LINK/EUR trading pairs. It is easy and secure to buy ChainLink using fiat currencies on Kraken.
Buy ChainLink (LINK) from brokers
Asides cryptocurrency exchanges, you can buy ChainLink from cryptocurrency brokers. The brokerage platforms are websites that allow people to buy, sell, and trade cryptocurrencies. However, unlike crypto exchanges, you are not given the physical coins with brokers. This means that traders and investors do not have to worry about spending the extra money to secure your ChainLink coins on digital wallets. On a broker’s platform, you are trading LINK CFDs – here you simply need to predict the price movement of the assets. Brokers offer various benefits when it comes to the purchase of cryptocurrencies.
- Security: When you buy or trade ChainLink with brokers, you do not have to worry about spending additional funds on securing the coins in an online wallet since you are simply making a prediction regarding its price movements.
- Ease of Use: Using cryptocurrency brokers to purchase LINK coins is more comfortable compared to exchanges. Brokers have a less complicated trading platform, which makes it easier to trade this digital asset.
- Trade with Fiat Currencies: with brokers, you trade the ChainLink coins using fiat currencies. They accept various payment methods, making it very convenient for people to access the cryptocurrency.
What is the Potential for ChainLink?
ChainLink is one of the most promising cryptocurrencies in the trading space at the moment. It has a substantial project that is becoming appealing to numerous blockchains and smart contract networks. Offering blockchains the power to obtain on-chain and off-chain data feeds and APIs allows them to get far more information than they were previously used to.
As more blockchain projects adopt ChainLink solutions, the LINK coin will become more valuable. The total coin supply for LINK is set at 1 billion coins. At the moment, we have 350 million ChainLink coins in circulation. The market cap of $2 billion makes it one of the most valuable cryptocurrencies in the crypto space. It also has a daily trading volume of over $330 million. The active usage of LINK coins means that it is valuable, and its potential will only increase in the short and long term. As a result, LINK is an excellent cryptocurrency to invest in.
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