If you are considering investing in Chainlink cryptocurrency (LINK), it is worth exploring more information about this project. Chainlink is an innovative cryptocurrency that focuses on providing smart contracts for business and institutional clients. The following is an overview of what characterizes this project and how LINK tokens can be purchased.
What is worth knowing about Chainlink?
Chainlink is a decentralized platform based on the Ethereum blockchain. It is a project that is mainly aimed at business and institutional clients interested in taking advantage of smart contacts. Currently, Chainlink is compatible with various networks – including the Ethereum network and the Bitcoin network.
The creator of the project is Sergey Nazarov. Chainlink, on the other hand, is owned by Smart Contracts. The project took off thanks to an ICO fundraiser that took place in September 2017. At that time, the fundraising goal was set at $32 million (this goal was already reached during the first day of public token sales).
Interestingly, Chainlink boasts a successful integration with the API of the SWIFT organization, which is the largest system of communication between banks. It is worth noting that Chainlink has established a number of strategic partnerships with reputable companies. In addition to the aforementioned Swift system, partnerships with Google, Intel and the Oracle corporation can be found online.
The Chainlink project has its own ERC-20 utility token called Link. One billion LINK tokens have been issued. However, not all of them are in circulation.
LINK tokens act as a means of payment for oracle providers (also known as “oracles”), the intermediaries between external data sources and smart contracts on the blockchain.
In summary, chainlink is a project that provides smart contracts for business and institutional clients, which boasts partnerships with IT giants. This makes many people wonder how they can invest in LINK cryptocurrency. To address this in the following text, we outline how to buy LINK on selected cryptocurrency exchanges.
How to buy Chainlink (LINK) cryptocurrency on the Bybit exchange?
One of the exchanges that offers the opportunity to buy LINK is Bybit. How to start the purchase? First, you need to register an account. To do this, just click the yellow “Sign up” button in the upper right corner of the screen and fill out the registration form.
After successful registration, you can make a deposit. To do this, click “Buy Crypto” in the top menu and then choose a convenient payment method. You can choose between credit card (under the “One-Click Buy” option) or direct payment with fiat currencies (under the Fiat Deposit option – through ZEN broker).
For example, by choosing the One-Click Buy option, we can choose to pay by credit card. This way you can buy LINK directly for PLN.
How to buy Chainlink (LINK) cryptocurrency on OKX exchange?
How to buy Chain link on OKX? The buying process is intuitive. To begin with, you will need to register a user account. As part of the registration, among other things, you will need to enter a code sent via SMS or to the email address provided. This is one of the stages of user verification. The next stage is verification of identity on the basis of a valid identity document.
After successful registration and verification, you can make a deposit. To do this, select “Buy cryptocurrency” from the top menu. Then choose one of the methods of depositing funds. It can be payment by credit card, P2P trading or payment through a payment intermediary (such as Banxa or Simplex).
For example, by choosing a credit card you can buy LINK directly for PLN.
What are the other ways to buy Chainlink cryptocurrency (LINK)?
Where to buy Chainlink besides the exchanges mentioned above? LINK is a cryptocurrency that is listed on many popular exchanges. Among them are Binance, Huobi and Zonda. Besides, investment in Chainlink is available through various brokerage platforms, as well as at some cryptocurrency exchange offices.
How to buy Chainlink cryptocurrency without going through the KYC procedure?
There are exchanges that, under certain conditions, allow you to buy cryptocurrency without going through the KYC procedure. An example is the Bybit exchange, which allows trading immediately after account registration. Without having to go through the KYC procedure.
Besides, many cryptocurrency exchanges and bitomats allow you to purchase cryptocurrencies without verification. Usually such an opportunity is available up to a certain amount (in the case of bitomats operating in Poland, as a rule, it is several thousand zlotys). Of course, before starting a transaction at a bitomat or exchange office, you must first familiarize yourself with the policy of the chosen operator, as the rules regarding KYC can change dynamically.
Where to hold Chainlink cryptocurrency after purchase?
Chainlink (LINK) is a token based on the ERC20 smart contract standard on the Ethereum network, which allows its wide access to various wallets for a variety of operating systems and devices. You can use the MyEtherWallet web wallet, which works in web browsers, but for security reasons it is recommended to synchronize with the popular MetaMask wallet.
ChainLink can also be held on popular cold wallets such as Ledger or Trezor. Of course, some people choose to keep funds on exchange platforms, but it is worth remembering that this is not a universally recommended way due to security reasons. Rather, the exchange should only hold funds for trading and not long-term savings.
