How to Buy Chainlink (LINK) Right Now • Benzinga

February 1, 2022 admin Chainlink 0

Want to jump straight to the answer? You can buy LINK on SoFi!

Chainlink connects smart contracts on blockchain networks. These networks can include data providers, web APIs, enterprise systems, cloud services, IoT devices, payments systems and other blockchains. 

Blockchain networks are highly secure and reliable. But they lack the ability to fetch external data or send data to off-chain systems. Chainlink connects smart contracts to real-world information, payments and events such as medical data, weather data, sports data, shipping data and asset prices. 

As a more recent addition to the blockchain network, Chainlink has several rich features:

  • End-to-end decentralization: Chainlink uses decentralized oracle networks made up of independent and Sybil-resistant nodes to prevent data manipulation. It also helps to maintain high availability of the cryptocurrency.   
  • Secure nodes: With Chainlink, every piece of data is digitally signed by nodes and stored on-chain. It also provides cryptographic proof of the oracle networks’ overall security. 
  • High-quality data: You can access any password-protected or authenticated API data source on Chainlink. This process can prevent redundant validation by multiple nodes for any single point of failure. 
  • Crypto-economic security: Chainlink lets you leverage binding service agreements outlining the terms of an oracle service with monetary penalties for poor results. 
  • Defense in depth: You can apply multiple layers of security such as cryptographic signatures, trusted execution environments, zero-knowledge proofs and more. 
  • Open-source community: Chainlink has a thriving open community of node operators, developers, researchers and security auditors. It improves network security and accelerates development through frequent contributions.   
  • Blockchain agnostic: Chainlink connects to all leading public and private blockchain environments from a single framework. It also provides a universal abstraction level for cross-network connectivity. 

Due to these robust features, Chainlink provides enterprises and governments with numerous ways to leverage the benefits of blockchain technology. The ease of use and its functionality make Chainlink an attractive investment opportunity for cryptocurrency traders. 

  1. Open an account.

    Are you interested in learning how to trade Chainlink? Before you begin trading cryptocurrencies, you’ll need to sign-up for an account with an online broker. There are several cryptocurrency brokers available online. 

    Make sure the broker you sign up with has Chainlink listed on its exchange. The commission charged by the brokers can vary based on the type of cryptocurrency you want to trade. Compare the commission fees and the minimum balance needed to open an account to help you pick the broker that matches your financial goals. 

    Take a look at the top cryptocurrency brokers on the market. 

  2. Buy a Wallet (optional)

    As an emerging platform, trading cryptocurrencies can be a risky investment. The completely online experience of trading digital currencies can leave you prone to cyber-attacks. You should consider buying an e-wallet to help you secure your digital assets. 

    A cryptocurrency wallet or an e-wallet can store all of your private and public keys in a secure location. There are several types of e-wallets including desktop, web, mobile, paper and hardware. Based on your trading tactics, you can choose the digital wallet that fits your portfolio.  

  3. Make Your Purchase

    Once you’ve purchased a digital wallet, you can transfer funds to your account to start trading. Most digital wallets accept credit cards and wire transfers to fund your account. Chainlink is available for trading on major cryptocurrency exchanges such as Binance and Coinbase. 

    The varying commission rates on cryptocurrency brokers can be decisive for successful trading. Many cryptocurrency exchanges will offer a low commission fee of less than 1%. Be sure to evaluate the minimum balance required on the platform to start trading. 

    You can buy Chainlink tokens by browsing through the listed cryptocurrencies on the platform. You can select the number of tokens you want to purchase and click on the buy button to complete the transaction. The Chainlink tokens you’ve bought should reflect in your account shortly after your buy order is executed.