Chainlink (LINK) solves an inherent problem of blockchain technology. It connects smart contracts on blockchain networks. This helps the networks to include everything from data providers, payments systems, IoT devices, cloud services, enterprise systems, web APIs, and other blockchains. Now let’s discover what is it and how to trade and buy crypto, and especially Chainlink.
Blockchains are not able to fetch external data or send data to off-chain systems. This problem in these blockchain networks is that they are highly secure and reliable. Chainlink solves this problem by connecting smart contracts to payments, real-world information, and events. The events can be anything, be it asset prices, shipping data, sports data, weather data, or others.
Chainlink has a wide array of rich features that made this network so special. This oracle network powers hybrid smart contracts to enable blockchains to access off-chain data as well as computations securely.
Chainlink network uses decentralized oracle networks that are made up of independent and Sybil-resistant nodes. They prevent any kind of data manipulation. This feature also helps in maintaining high cryptocurrency availability.
Nodes digitally sign all data in a Chainlink network. These signed data are then stored on-chain. This process also provides cryptographic proof of the oracle networks’ overall security.
On this network, you can access any password-protected or authenticated API data source. This process ensures that redundant validation by multiple nodes is prevented for any single failure point.
You can leverage the system to bind service agreements. They outline the terms of service of an oracle with monetary penalties for poor results.
Users can apply multiple security layers. These security layers may include cryptographic signatures, zero-knowledge proofs, trusted execution environments, and others.
There is a thriving open community of Chainlink. This community includes developers, node operators, security auditors, and researchers. As the participants contribute frequently in this community, this helps in improving the network security and at the same time accelerates development.
From a single framework, this network connects to all leading public and private blockchain environments. This helps in providing a universal abstraction level for cross-network connectivity.
Chainlink network helps both governments and enterprises across the globe in leveraging blockchain technology’s benefits by doing away with the obstacles with its robust features. Chainlink has come up as an attractive investment opportunity for crypto investors and traders.
If you want to buy chainlink and sell it, the best way in which you can do it is through a cryptocurrency broker. It will allow you to convert your fiat currency or any other digital currency into Chainlink online with just a few clicks.
You have to select a broker that will allow you to buy or sell LINK easily and securely.
Almost all the crypto brokers offer you to buy chainlink. To choose any one of them, you have to look for certain characteristic features such as:
Once you have compared the services offered and fees charged by the different crypto brokers offering you to Buy Chainlink, you should choose the one that matches your financial goals.
Coinbase, founded in 2012, is the largest cryptocurrency exchange in the United States and also one of the biggest in the entire world. This leading exchange makes it exceptionally easy and simple in trading Chainlinks and almost any digital currency. Almost all major cryptocurrency pairs are available for buying and selling.
Coinbase provides you with the unique feature of earning crypto rewards. If you are an advanced trader, the Coinbase Pro platform is best suited to your needs. It offers enhanced functionalities such as more order types, advanced charts, and many more.
It doesn’t have the most affordable fee structure but provides you with an easy enough platform where even a beginner can trade and invest easily.
It is one of the most popular digital currency exchanges. Kraken, established in 2011, offers you access to both major projects as well as small and new offerings.
The majority of the digital coins are held by this exchange in offline cold storage. The servers of Kraken remain under constant, military-grade surveillance. Any possibility of hacking or malware attack gets reduced significantly with this commitment to safety.
Kraken has a maker-taker fee schedule, which is based on the level of activity of the user. The fees are lowest for the traders and investors who are most active. If you are an investor or trader who invests/trades frequently, Kraken is definitely one of the best choices.
The minimum order size to buy Chainlink in Kraken is 0.5 LINK. This means that you can start investing in Chainlink at just US$18-19 (as per the current price as of April 29, 2021).
In addition to these, the other benefits include the availability of a complete suite of tokens as well as round-the-clock customer service.
Gemini is one of the leading names in the cryptocurrency market in the United States. Their products are known to set a standard on multiple aspects including investor protection, overall broker experience, compliance, and security.
Gemini crypto exchange is available on the web and also provides mobile (app), ActiveTrader platform, and Gemini Wallet. It also offers Gemini Clearing, Gemini Custody, Gemini dollar, and Gemini Pay.
Once you have opened a brokerage account with a cryptocurrency exchange, it is now time to make arrangements for securely storing the LINK digital coins you have purchased. If you are holding Chainlink for a longer period of time, hardware wallets are preferred. This is because they are offline storage options and a physical device is involved in storing the keys.
You can either go for a cold wallet (including hardware wallet) or a hot wallet (including mobile/desktop wallet). It is not recommended to keep LINK on your exchange because you may lose all your funds in case of a hack.
Wallets safely store your coins with a private set of keys. Cold wallets, especially the hardware ones, are the best because they provide you the highest possible level of security. You can purchase hard wallets from anywhere, even from sites such as Amazon. These wallets work like a flash drive that allows you to connect to a computer or laptop for transferring coins into a secure wallet. The best part is that you can store coins offline, ensuring you’ve access to the coins all the time.
This is the most affordable cold wallet available. It costs less than US$30 and also offers high security. You can store all the ERC-20 tokens (including Chainlink) and other major cryptos such as BTC, ETH, LTC, and others. It is simple and straightforward to use. You simply need to connect it to your computer by using a USB.
This is primarily a web-based wallet that supports all digital coins including LINK, ETH, BTC, etc. Secure Enclave and biometric authentication technology protect the Coinbase wallet. An extensive collection of digital art is featured by Coinbase wallets. They can be unlocked so that you can use them on your profile and marketplaces.
It is the most popular cold storage option available. It provides you with top-of-the-line security as well as an easy setup process. Even a beginner can use it easily. You simply need to connect Trezor T to your mobile device or computer either with the help of USB or Bluetooth. The device gets ready for use in just a few minutes so that you can transfer investments to your wallet quickly.
This Model T of Trezor comes with a full-color LCD touchscreen that helps in managing cryptos more effectively. It is a great choice as it provides the highest degree of security coupled with a wide range of compatible digital coins and tokens, availability of large storage size, and simple process of setup. No matter whether you are a seasoned professional or a newbie, everyone can use Trezor T with ease.
Once an account is opened, you have to link a funding or payment method so that you can transfer the money from your source of payment to the concerned brokerage account.
Most brokers provide direct bank transfers, wire transfers, and credit/debit cards as payment methods to buy, sell and trade LINK and other digital assets. Depending upon the broker or payment method, it may take anywhere from a few hours to a few days for linking the payment source with the account.
You can place orders for buying Chainlink (LINK) through your account with the exchange. You can place an order of 0.5 LINK coins. Check the current Chainlink price and place an order. To buy crypto, you can place a wide array of orders such as Market Orders, Limit orders, Recurring orders, Stop-limit orders, and others.
Once an order is fulfilled, the Chainlink is transferred to your account. If you want to hold, you can secure the coins in a wallet by using your private keys. For long-term holding, storing LINK on a hardware wallet is recommended.
If you are ready to invest in Chainlink LINK or buy Bitcoin through online brokerage accounts, you can do so in a legit way by investing through cryptocurrency apps. You have to open an account with such an exchange, verify details (including basic personal information), and then fund your cryptocurrency trading account.
You can start depositing funds to your crypto exchange account to buy cryptocurrencies by connecting your bank account (savings accounts or checking accounts), transferring fiat currency money online through bank transfer, credit cards, debit cards, and other payment options. If you need further assistance, you may consider taking help from the vibrant and helpful Ethereum community. You can trade BNB with credit cards, debit cards, or other payment options through reliable crypto trading platforms.
In case you are bullish on the future prospects of Bitcoin BTC, Ethereum ETH, and other altcoins, you can buy Monero XMR, Cardano ADA, and other digital currency, Chainlink LINK, Ripple XRP, Binance Coin BNB, Basic Attention Token BAT, Bitcoin Cash BCH, Stellar Lumens XLM, Bitcoin BTC, Tron TRX, Tezor XTZ, Cosmos ATOM, DASH DASH, and Ethereum with USD. Then transfer them to hot wallets (including mobile app wallets and software wallets) or cold wallets (including most secure hardware wallets) and hold them for a longer time period for a significant price appreciation. Keep your XRP safe with Ledger Nano S, Trezor One, other Ledger and Trezor models, or other popular ones.
This will help you get a higher return in the long run, much more than investing in stocks, mutual funds, index funds, real estates, yield savings accounts, real estate investment trusts, fiat currency trading (forex trading), and others. In fact, many retirement funds or IRA accounts such as Roth IRA are allowing investors of purchasing XRP, Bitcoin, Chainlink, and other digital assets of investment in the portfolio so that the prospects of these funds increase due to the higher returns of XRP cryptocurrency, BTC, ETH, Ethereum Classic ETC, LINK, and other cryptos.
Therefore, it can be concluded that holding Bitcoin Ethereum and other cryptos can help you to build real wealth and multiply your net worth. You can learn investing basics to buy crypto currency and other digital assets to make more gains. You can start going through Wall Street Journal and other investing magazines on cryptos to learn more about investing in cryptocurrencies and make better financial decisions. You can learn about valuation calculation to true bitcoin value and assess the overpriced or underpriced situations instantly.
As a beginners guide, you may also check out the trading basics provided by various cryptocurrency exchanges such as Coinbase, Binance, Kraken, and others to buy Ripple with Polygon MATIC, and other cryptocurrencies. Defi tokens and NFTs (Non Fungible Tokens) are the next generations of crypto coins.
These decentralized coins have started to become very popular among traders who trade cryptocurrency. You can buy and sell them through cryptocurrency trading platforms too. Whether you buy Ethereum ETH or buy Dogecoin, you should also invest in Chainlink LINK, Binance Coin, Cardano ADA, Polkadot DOT, Dogecoin DOGE, and trade Litecoin LTC for better diversification of coins. To diversify your portfolio, you may also buy stocks through stock brokers.
Get better guidance on improving your personal finance, retirement planning, management of cash flows or capital gains, and investment ideas from financial advisors and wealth managers, especially the ones who are not averse to Bitcoin and other cryptocurrencies.
While day trading, you should always try to invest only that much which you can afford to lose money. When you do margin trading, be very careful. Financial protection must be there in your mind always while you make cryptocurrency trades. While investing in cryptos, try to buy LINK through centralized or decentralized exchanges and reliable online brokers.
Cryptocurrency Trading Robots (such as NapBots.com) automatically scan the market in real-time and trades for you. They run 24×7, which means that you can keep earning your passive income even when you are sleeping. This gives you an edge over other investors as it enables the bot to book profits on your behalf when other investors are sleeping.
Smart crypto investors always remain prepared to get the best of a big market move. They don’t wake up suddenly. To remain alert round the clock, they use cryptocurrency trading bots so that they don’t miss any big market movement.
NapBots.com is a Trading Bot, cloud-based platform, on which you can connect to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda.
The best thing about the Napbots trading software is that you don’t have to monitor charts and candles to predict your next move. Any novice trader with zero skills can also start trading like a pro and earn money with this unique trading tool. Let Napbots take full control over your trades in just a few clicks. Now, sit back and enjoy earning money.
NapBots crypto trading software is special because it comes with:
With NapBots, you can enjoy financial independence by trading cryptocurrencies on autopilot mode and earn money automatically. To make it work on your behalf, you have to do the following:
Step #1: Connect to one of the available trust exchanges.
Step #2: Select from the unique list of performing Bots of NapBots
Step #3: Choose a plan that suits your investment style
Once you have completed these three steps, NapBots is ready to trade cryptos and earn money for you. Happy Trading!
If you still need assistance, you can refer to the following step-by-step purchasing guides for the various payment methods: