Buying ChainLink

Buying ChainLink - what should you know?

ChainLink is another cryptocurrency based on the Ethereum blockchain. It is a decentralized platform, created with the intention of creating smart contacts with external data sources that will not be associated with the main chain. Its main task is to mediate. ChainLink is dedicated to business and institutional clients. If you want to know more about this project, please read the rest of the article. If you are determined to buy ChainLink, this is possible thanks to the BitBay cryptocurrency exchange. You can create a free account there by clicking the button below:

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ChainLink history

Sergey Nazarov is responsible for creating this brand. He is an entrepreneur who created the Smart Contracts start-up in 2014. This project includes, among others ChainLink was just created in 2017. The platform has its own utility token – LINK, which is used to collect fees for smart contacts. The token circulation is limited to one billion. 350 million were already available for pre-sale during the ICO (Initial Coin Offering) fundraiser – ChainLink could be purchased for Ethereum coins, and the minimum contribution of investors to the development of the new cryptocurrency was 100 ETH, which translated into 260,000 LINK tokens. The cryptocurrency was very popular from the very beginning, which is confirmed by the fact that the first set collection threshold – $ 32 million – was achieved just one day after the start of sales. In fact, during the collection, 1 LINK cost about 11 cents. ChainLink can be purchased for traditional currencies on the cryptocurrency exchange BitBay. Click the button below if you want to register a free account:

buying chainlink

ChainLink – basic information

ChainLink was created to solve the more and more often emerging problem, which was the limited possibility of paying with cryptocurrencies outside of the platforms adapted to this. This meant that even if a specific institution wanted to implement a payment with tokens, it would not be technologically possible. ChainLink is a tool that will allow smart contacts to connect to external sources efficiently and, most importantly, safely. As a result, ChainLink is to popularize payments with virtual coins. Currently, it is integrated with the API of the world’s largest interbank communication network SWIFT. The Nazarova company also cooperates with, among others, the processor manufacturer Intel and the insurance company AXA. ChainLink is also integrated with the most popular blockchain networks. In addition to Ethereum, it can also work with Bitcoin and Hyperledger networks.

Mining or buying ChainLink?

LINK is useful for miners who want to get more coins as it acts as a link. It allows you to create nodes that are used for transactions with organizations that do not use the blockchain on a daily basis. “Miners” can buy any number of ChainLink tokens and use them to create nodes that secure payments. They will receive remuneration for their work in subsequent LINK coins. If you are interested in buying ChainLink, you can do it quickly and conveniently by registering a free account on the cryptocurrency exchange BitBay by clicking the button below:

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ChainLink’s position in the market

As the data shows, LINK is gaining more and more popularity. Currently, it is listed on several cryptocurrency exchanges. A large part of operations is performed on Binance in tandem with Bitcoin – the traffic from this exchange is even several dozen percent of the daily turnover. It is also available on Bitrue, OKEx, Houbi and Gate.io, among others. ChainLink was first listed publicly in September 2017 at a rate of 15 cents that has doubled after just a few days. Currently, in early 2021, the value of the LINK token is around $ 25.

Which wallet for ChainLink?

Due to the fact that LINK is a coin implemented by Ethereum in the ERC20 standard, it is supported by most of the available cryptocurrency wallets. The most popular browser wallet is MyEtherWallet, which can be additionally secured by using the MetaMask plugin. The plugin is supported by the most common browsers, incl. Chrome, Firefox or Brave. On the other hand, desktop wallets such as Exodus or Jaxx are best for storing assets on a computer. They can be installed on both Windows devices and those running on MacOs and Linux systems. Mobile wallets, e.g. imToken or Trust Wallet, are dedicated to smartphones based on Android and iOS. LINK can also be stored in hardware wallets. It is worth choosing, for example, Ledger or Trezor.