Chainlink is a link between smart contracts and the real world. One of the most popular projects in the blockchain industry. In this article, we will consider what the essence of the project is, how it managed to break into the TOP 15 by capitalization, and why it is worth trading LINK. 

What is a ChainLink (LINK)?

Chainlink is a special network created for high-quality interaction between smart contracts and dApps. The purpose of the platform is to create a decentralized network of oracles, which is used as an intermediary between smart contracts, external data or APIs. Oracles are a bridge between the real world and the blockchain, because the blockchain is actually a closed ecosystem that can work with data internally, but cannot receive it from the outside. Oracles began to be widely used when writing smart contracts, primarily for DeFi and betting platforms. The ChainLink team positions itself as developers of “middleware” to provide reliable communication channels between the blockchain and the real world.

To put it simply, they have launched and maintained an entire network of oracles so that their client receives not just external data, but data confirmed by a consensus of oracles, which reduces the probability of an error. In general, it is like a blockchain, only the nodes (oracles) do not confirm the transaction, but the reliability of certain data. Chainlink acts as a data transmitter between smart contracts and external applications, and the LINK token is not only used to pay for the work of oracles, but also used as a full-fledged digital token. With the help of LINK tokens, the developers of the project allow information providers to earn money. The more productive a particular supplier is, the more the company itself receives.

Why should I trade ChainLink?

Is LINK a profitable tool for trading? Yes. And here’s why:

• The token of the ERC-20 standard is used to pay for the services of oracles (node operators). Any blockchain project that wants to integrate oracles must purchase LINK in order to pay for these oracles to collect and transform data into a format readable for the blockchain. 
• The crucial point is that this is a premain token with a limited general and circulating offer. In the long term, the value of ChainLink is expected to increase. And since the demand will grow, and the supply is limited, the asset price will increase. 
• According to the forecast of many analysts, including the resources DigitalCoinPrice and CoinPriceForecast, the price of LINK will only grow. By the end of the year, the token can not only stay in the TOP 15, but also gradually move up. 

At the time of writing (July 16, 2021), the market capitalization of the asset is about $6,949,206,457, and the LINK price is about $15.80. LINK started trading in 2017 at a price of $0.1, but as soon as large projects and organizations became interested in the technology, LINK quotes began to grow rapidly. On May 10, 2021, the coin reached a record value of $52.88 at the moment. After that, the price began to fall sharply, which gives traders the opportunity to buy an asset at an affordable price. As is known in the cryptocurrency world, after a sharp decline, a sharp rise follows.

How much LINK will be worth?

According to the Wallet Investor research, Chainlink can be considered as promising asset with growth opportunities within both 1 year and 5 years.

By the end of the 2026, $100 invested in 2021 will be worth $529.

At the same time we encourage our readers to do their own research, as far as the information given above is not a financial advice.

Where to trade ChainLink?

LINK today can be easily sold or bought on the most famous and reliable crypto exchanges and brokers. In addition to the constant leader Binance, CoinMarketCap includes in its rating such well-known exchanges as:

• Kraken – the most secure exchange in the world, with an ideal reputation, acceptable fees, but a complex interface.
• Coinbase Pro – an equally well-known crypto exchange, with a simple and intuitive interface, but quite high fees for card transfers.

In addition, you can use the services of a reliable crypto broker for trading LINK.

• 7b – is a crypto broker with a user-friendly interface, transparent, and low fees, providing the best user experience for both beginners and experienced traders.

How to trade ChainLink using the 7b crypto broker app?

Trading with 7b does not require special skills and knowledge, such as reading tables and other data, everything is extremely simple and clear. You can also monitor the LINK price chart directly in the app. To start trading, follow the below steps:

1. Download 7b crypto broker from Google Play.
2. Create an account and pass the verification process.
3. Top up your balance.
4. Choose cryptocurrencies for trading.
5. Enter the required amount.
6. Confirm the order.

FAQ

Is ChainLink a good investment?

Yes, LINK is a profitable investment both in the long and short term. The project is extremely useful for the crypto community and various blockchain platforms. A limited issue, combined with high demand, results in an increase in the price of the asset. In the past year alone, LINK’s quotes have grown by 82%.

How do I invest in ChainLink?

You can buy LINK through many crypto exchangers and brokers. Carefully study the main characteristics, fees and the history of the selected service. Create an account and pass verification process (this is necessary to protect your data and funds), select LINK and the cryptocurrency you want to buy it with (some services also provide the opportunity to buy cryptocurrency for fiat), enter the amount, and confirm the transaction.

How to trade ChainLink for beginners?

An experienced trader knows exactly how to read graphs correctly, use trading tools, and what strategy to choose for a particular cryptocurrency. All this is learned by trial and error, which leads to financial losses. Therefore, it is essential to remember that investing large sums in trading is a very risky idea. Conduct your own research and do not believe any crypto “gurus”. To trade, you will need a verified account, and funds on it. Select a trading pair, enter the amount, and confirm the transaction.

What is the ChainLink Blockchain? 

ChainLink (LINK) is a decentralized network of oracles. With its help, smart contracts are connected to applications and payment systems and carry out monetary transactions. The LINK network creates conditions for smart contracts to get secure access to information and other features of the API technology.

How safe is ChainLink?

The native coin of ChainLink – LINK, is an absolutely safe asset, both suitable for long-term and short-term investments. The guarantee of LINK security also comes from the platforms listed it – Binance, Gate.io, 7b. 

How do I exchange Bitcoin to ChainLink?

Step 1. Log in to your crypto exchange account

Step 2. Search LINK/BTC exchange pair

Step 3. Enter the necessary amount of LINK

Step 4. Confirm the exchange operation

Step 5. Receive LINK

How do I invest in ChainLink?

To invest in ChainLink (LINK) one should first exchange fiat money on LINK. The operation can be made via an exchange or swap platforms. Afterwards the sum should be sent either to wallet or a broker account.