Easy way to Buy Chainlink (LINK)Chainlink(LINK) Online with Wigwam crypto app

Download Extension
Chainlink | LINKChainlink1,223 LINK

How to buy and hold LINK with Wigwam

LINK

1. Choose a token number that you want to buy

2. Create a wallet, where to store your crypto

3. Pay with credit card

875.29 LINK

4. Check your crypto in the created wallet

Why Wigwam is the best crypto wallet for Chainlink (LINK) storage

Ultimate security, only you have access to your Chainlink tokens

Send, Receive, Store your Chainlink tokens free and without limitations

Check the real-time value of your crypto tokens

Buy, Sell, Exchange Chainlink (LINK) directly in the wallet

Stake Chainlink (LINK) by connecting Wigwam to the popular DeFi dApps

No KYC or personal data collected

Why Wigwam is the best crypto wallet for Chainlink (LINK) storage

ChainLink (LINK) token Review

LINK is a native cryptocurrency token on the Ethereum blockchain for the Chainlink network. Chainlink is a decentralized oracle network that bridges blockchain smart contracts and real-world data and allows the creation of new usage cases for blockchain technology. LINK token is used to pay for services on the network and is also given as a reward to node operators.

How Chainlink works

Smart contracts on blockchains like Ethereum are self-sufficient and executed by the blockchain virtual machine, but sometimes, they require external data to trigger this execution. Chainlink, with the aid of the decentralized oracle network, collects this external data and passes it to these smart contracts. 

Some of the Chainlink use cases

  1. Decentralized finance (DeFi) - Chainlink is perceived as a reliable provider of tamper-proof price feeds for cryptocurrencies that are commonly used in DeFi applications, such as lending platforms, stablecoins, synthetic assets, aggregators, etc. 
  2. Insurance - It's possible to create smart contracts that will be executed after some real-life events happen only: weather conditions change, flight delays, etc. ChainLink allows gathering this information and transferring data to the smart contracts to trigger desired actions, such as launching an insurance claim processing. 
  3. Gaming and NFTs - Chainlink can collect external data and pass it to the blockchain games or NFT platforms, thus expanding their functionality and convenience. 
  4. Enterprise solutions - many companies may use Chainlink functionality to connect blockchain smart contracts with the internal companies' APIs and databases, providing enhanced security and functionality for their products or processes. 

Project Challenges

  1. Technical complexity - it's hard to create a process of collecting off-chain data that will be secure, reliable, and decentralized at the same time. 
  2. Competition - because of the market development, new players that use more modern technologies may become serious competitors who will reduce Chainlink's market share.
  3. Reliability of the external data sources - Chainlink must maintain a system of receiving reliable data from external sources with guaranteed protection against manipulation. 

LINK token utility

  1. Payment for Oracle services - The LINK token is used to pay rewards to node operators who are responsible for retrieving, validating, and delivering external data to smart contracts. 
  2. Security - node operators stake some LINK tokens as collateral for allowance to provide data. In the event of providing false information, these tokens might be lost, making the malicious behavior of the data provider too costly to conduct. 
  3. Participation in governance - it's possible that in the future Chainlink development, LINK tokens will be used for the protocol governance.
  4. Medium of Exchange - LINK serves as a medium of exchange between various participants in the Chainlink network.
  5. DeFi and Trading - LINK is a popular token that is used in many DeFi projects and represented on all major exchanges for trading. 

LINK token economic overview

In the process of conducting ICO in 2017, one billion LINKs were distributed by the following proportion: 32% were sold out to ICO participants, 35% was allocated for Chainlink node operators incentivization, and 30% was retained by the company for development and operational expenses. At the moment, 557 million LINK tokens are circulating on the market. 

The project team regularly publishes updates on how the reserved tokens are being utilized. However, it should be noted that every new big release of tokens from the company reserves may significantly drop the token price.

The fixed token supply and clear distribution strategy are designed to ensure the long-term stability of the Chainlink ecosystem, but this token is affected by the same problems as other cryptocurrencies: high volatility, possible legal regulations, smart-contract security risks, etc. 

FAQ

You may buy a Link token on different exchanges (Binance, Bitfinex, Coinbase, etc.) or change it on LINK on popular decentralized exchanges (Uniswap, Sushiswap, etc.) if you already have ETH. Also, you may quickly buy LINK directly in our Wigwam web3 extension using your credit card.

LINK token is not a native token for blockchains that supports PoS algorithms. It means it is impossible to stake LINK as ETH or MATIC tokens; however, you may check DeFi applications that may offer to stake LINK in their applications in exchange for rewards. Before staking LINK in external dApps, always conduct preliminary research on the project.

Adding a LINK to your crypto wallet involves a few steps. First, open your wallet and navigate to the 'Add Token' section. You can then search for the LINK token or add it as a custom token by copying its address and pasting it into the required field in your wallet. The LINK Ethereum token address is 0x514910771af9ca656af840dff83e8264ecf986ca

LINK is a cryptocurrency token, which means that it is exposed to all the risks associated with the purchase of cryptocurrencies, namely high volatility, risks of hacking smart contracts, tightening government regulation of the circulation of crypto-assets, market risks associated with the development of the project, etc. Considering these various risks and conducting thorough research before buying this token is essential.