Want to jump straight to the answer? According to our experts, Chainlink (LINK) is a good investment with an investment grade rating of 4.1/5 based on the user behavior, developer activity and market maturity factors that trying to assess the overall health, applicability and probability of growth of the project.
You can Buy Chainlink with Credit Card or Debit Card in 3 easy steps:
In the following sections, we will explain the process to buy Chainlink (LINK) with credit card or debit card in greater detail.
Please note that Cryptocurrency investments are high-risk investments. Any investment decision is under the responsibility of the individual.
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|7 days % change||27.36|
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Chainlink is a blockchain network, or more precisely a decentralized oracle network, oracles being data feeds that are necessary for the execution of smart contracts. Since oracles are independent and not part of a blockchain consensus mechanism, it is important for the smooth execution of smart contracts that the data obtained from oracles is accurate and reliable. Thus, the aim of Chainlink is the creation of a network of decentralized oracles, with which smart contracts may interact and communicate in a secure and frictionless manner. The advantage is that through receiving data from multiple oracles and combining those before an outcome is triggered, it ensures data validity for smart contracts and eliminates the chance for data failure from one single point.
The history of Chainlink was not devoid of drama, especially at its initial stages. Its 2017 ICO, when Ethereum was raised for the funding, coincided with a significant rise in the price of Ethereum and the hard cap imposed by Chainlink meant that interested parties that had bought into the ICO initially, ended up being left out. This raised doubts and cast shadows on the Chainlink project and coupled with poor marketing and communication, many rushed to call it a scam with its price plunging.
Rebounding to stable levels only came when the project got underway and partnerships began to be announced and Chainlink’s consistent development and activity ever since have earned it both popularity and a comfortable ranking among the top 20 cryptocurrencies by overall market capitalization, while its future, according to many analysts, appears promising and prosperous, since it is proposing real solutions to tackle issues pertaining to the oracalization of external data and their use by smart contracts.
The Chainlink Network is essentially comprised of a decentralized network of nodes, all of which sell access to multiple data feeds. The network itself delivers its overall service through the interaction of both on-chain systems and off-chain systems. The on-chain component of Chainlink is made up of smart contracts, which are deployed on Ethereum’s blockchain and seek to process data requests by users that want to take advantage of the advanced capabilities provided by an oracle network. Through the Chainlink network, the smart contracts are matches with appropriate oracles, based on user-set parameters. The results obtained by both on-chain and off-chain oracles are aggregated and weighted and then reported back to the blockchain, thus ensuring that they are accurate and valid. The off-chain data collection is undertaken by oracle operators, and this is where the LINK coin comes in, since it is used to pay and compensate them for harvesting and sending the data.
By the end of the guide, you should know the following:
As already pointed out, Chainlink’s main aim was to remedy one of the biggest plagues of the blockchain sector, i.e. how reliable information is communicated through and from the blockchain. This task is accomplished by sensors called oracles, that can be set up to monitor anything. Though the use of oracles greatly expands the usability of blockchains and the initiation and execution of smart contracts, the fact that oracles are centralized renders them the weakest link in the process, as if the oracle is corrupted, compromised or fails, then the entire network is put at risk. This is because if the information used by a blockchain is incorrect to begin with, erasing or rectifying such data down the line is extremely difficult and even impossible on certain blockchains. What Chainlink attempts to do by integrating numerous next generation protocols, is to effectively address and resolve such issues.
|Allows secure interaction between smart contracts and off-chain data||Questions as to whether LINK tokens are actually necessary for project|
|Potential to allow smart contracts that mimic current financial agreements||Systems can work with a single oracle, allowing for data manipulation|
|Financial reward for feeding reliable data securely into Chainlink|
|Partnerships with big companies like SWIFT and Google Cloud|
While there are other networks that work with oracles, what makes Chainlink stand out is its decentralized nature, contrary to most oracles being centralized. Chainlink uses both distributed sources and distributed oracles and this allows it to effectively address the security issues often faced by oracles, where the reliability of data comes into question and is volunerable to tampering by people with malicious intent. The way the Chainlink network handles smart contract requests by users is by contracting them out to multiple oracles, which in turn draw information from various different sources, thus ensuring that the aggregated information returned is both balanced and as accurate as possible. The two-part system employed by Chainlink thus ensures the maximum possible trustworthiness of the oracles and also the accurate execution of smart contracts.
Another obvious advantage of Chainlink is that while maintaining its decentralized nature and character, it enjoys a legitimacy and has proved its utility for centralized entities as well, and testament to this are its forged, notable partnerships with serious players such as SWIFT and Google Cloud.
Though the Chainlink network and technology is not associated with any obvious disadvantages, those considering an investment in Chainlink and the LINK token, should take into account certain downsides. The first concern is that many view the actual LINK token as not being absolutely necessary to the network, as it is only used to compensate oracle operators and that another crypto could have been used instead for this end. The second downside to be aware of are the deficiencies displayed by Chainlink, especially during its first stages, in terms of promotion and communication. This has been improved lately and any suspicions that Chainlink was a scam were soon dissolved, with LINK nowadays having built a solid fan base, especially on social media.
The third disadvantage, is that though a pioneer in the field of decentralized oracle networks, the Chainlink protocol does not hold a monopoly and the continuous booming of the crypto finance space, means that other decentralized oracle networks are also emerging and increase the competitive pressures that Chainlink has to overcome.
Finally, the survival of Chainlink and LINK and as a coin, depend largely on the overall fate and course of the entire crypto industry, and especially of the most prominent cryptocurrencies, such as Bitcoin and Ethereum. Given the great uncertainty and volatility of the entire crypto currencies ecosystem, LINK is at risk of facing huge upsets in its price and future prospects.
The Chainlink blockchain and its LINK tokens were first launched through an ICO in September 2017, when the price of the utility token was at mere $0.11. The Chainlink price ever since, has never fell below that mark and since the ICO also coincided with a general rally in the crypto market, by mid January 2018, the Chainlink saw its price rise at around $1.30. The natural price correction period that followed, meant that in March 2018, LINK was trading around $0.40, having lost more than 60% from its peak price, while a mediocre performance continued in the next two years, as Chainlink was trying to bridge its on-chain and off-chain technologies, while the LINK tokens had little other use, other than paying oracle contributors.
The price of Chainlink began to experience an uptrend towards the end of 2019, spurred by an overall revived interest in the crypto market for fear of missing out, as well as the high profile partnership with Google Cloud Services, which Chainlink had announced. The performance of Chainlink in 2020 was great and by September its value reached $20, riding a bullish momentum that is largely maintained ever since, stemming from the increasing number of new projects that have integrated Chainlink’s oracles, leading its usage to increase across different industries, such as gaming and insurance.
* The prediction figures outline some of the Potential high and low of Chainlink (LINK) price prediction forecasts for the years 2021, 2022, and 2025 based on the data collected from various sources meant strictly for educational purposes only and not taken as investment advice.
By the end of the year 2021, using forecast and algorithmic analysis, our price prediction forecasts suggest that one Chainlink will reach an average price of $42.65, which will be an impressive 178% growth from it's current market price.
By the end of the year 2022, our price prediction forecasts suggest that one Chainlink will reach an average price of $75.34, which will be an impressive 314% growth from it's current market price.
By the end of the year 2025, our price prediction forecast suggests that one Chainlink will reach an average price of $160.325, which will be an impressive 670% growth from it's current market price.
There are several online sites and platforms where people from across the globe can buy Chainlink at good exchange rates and with low or no transaction fees. To aid your quest we have comprised a list of some of the most popular methods and platforms to buy Chainlink from and your strongly advised to consult this list before making your first purchase of or investment in Chainlink.
It only takes a few easy steps to buy Chainlink with credit card instantly. Speed matters - get instant confirmation, minimal registration & KYC verification!
By the end of the guide, you should know the following:
To help you pick the right choice, we combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges as well as the top cryptocurrency brokers when it comes to trading and investing in Chainlink and other cryptocurrencies.
In 2021, the Chainlink price continued its upward trend and on 20 February 2021, the LINK token was trading at $36.38. There are several explanations for this boom, which lay mostly in its strategic partnerships and the fact that it is now enjoying massive adoption and its network is further expanding and consolidating. Moreover, as LINK is closely related to ETH, the latter’s strong performance appears to be having a positive spillover effect on the former as well.
Chainlink’s performance has grasped the attention of many analysts who have put forward their price predictions for the immediate and longer future of the Chainlink token. Most views expressed appear to converge on optimist and promising prospects, with a bullish outlook and most analysts expect that the price of LINK will keep rising for at least another two years, before an inevitable price correction period. What is particularly favourable for the longer-term prospects of Chainlink is that many analysts recognize that it has managed to become an integral component of the future of blockchain technology, and this where the hugely positive general outlook on the token is based, as well as the prediction that its price will continue its exponential growth in the immediate and longer-term future.
Despite the consensus in the opinions of analysts that the price of the LINK token will keep rising to a greater or lesser extent in the near and further future, interested investors should be aware that this is not guaranteed and that there are several factors that may affect it, such as the performance of Ethereum, the price movements of which LINK has largely mirrored, increased pressures from competitors withing the industry, and the risk that Chainlink may not manage to build further partnerships with reputable brands that will bring it added value and not mere enhanced visibility.
There is no guarantee that you will make a profit when you invest in Chainlink. However, to give yourself the best chance possible we have hand-picked the three most valuable such strategies, which you can find below:
Chainlink’s impressive performance since 2020 may be seen as sudden and largely unexpected, forcing many analysts to focus their attention on this token. This was justifiable as from under $4 in February 2020, its price was catapulted to $36 in February 2021.
As the rise appears to be based on solid ground, such as the massive adoption of Chainlink within the blockchain industry, as well as its simultaneous adoption by leading off-chain brands as well, it is natural that expectations now converge on a positive outlook with LINK prices being expected to continue on an upward trajectory. With this in mind, Chainlink and the LINK token appear as attractive options for interested crypto enthusiasts and investors.
In this guide, the aim wasn’t only to answer simple questions like “how to buy Chainlink?” or “where to buy Chainlink?”. Instead, the goal was to equip you with the relevant knowledge and insight to be able to see and understand the bigger picture as well as make your Chainlink investment journey as successful and as profitable as possible!
However, Binance isn’t exactly a beginner friendly way to buy Chainlink (LINK). Let's just get straight to the point:
|Provider||Payment Method||Fees (Approx.)|
|Kraken||UK Bank Transfer||< 1%|
|Wirex||Debit Card Fees||2.5%|
|Crypto.com||Debit Card Fees||2.99%|
|Coinbase||Debit Card Fees||4%|
|Cryptopay||Debit Card Fees||4%|
More information on legal and regulatory status of crypto assets in the UK can be found on our latest publication on How to buy Bitcoin in the United Kingdom
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