What is $LINK? : How to Buy Chainlink on Binance?

The quick evolution of the cryptocurrency world has seen the revolt of many other players. This is typical and anticipated as the worldwide adoption of tokens persists to grow. This post is all about one such cryptocurrency called Chainlink. In this article, we will be looking at how to buy Chainlink on Binance. Let’s take a look at it in more detail.

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What is ChainLink (LINK)?

ChainLink is a platform that aspires to refill the span between smart contracts on the blockchain and real-world applications. According to its website, ChainLink was designed by a company called SmartContract, launched in the year September 2014.

Usually, the blockchains on which smart contracts work cannot maintain inherent communication with the outside systems, and the significance that smart contracts give have been suppressed by their incapability to connect off-chain. The cryptocurrency LINK employs “oracles”, which catch and validate real-world data and convey it on-chain to be mixed into smart contracts.

The native token LINK is created into the network and is the sole currency that can be employed for crucial network functions. For instance, LINK is utilized to settle node operators that fetch data.

Chainlink (LINK) Price Analysis

Chainlink was on a beneficial uptrend in the early months of 2021 until its prices fired through the roof back in August, where prices varied from USD 7 to USD 20, or a price gain of almost 186%.

At the time of writing this, the LINK price is sitting at $14.84. The price of Chainlink contained to get out of the downtrend and split through the upper position, to go around to its initial sound uptrend. If you would buy Chainlink, a reasonable stop-loss price could be almost USD 10, where the price would breakout of the more subordinate medium. The other more plausible strategy could be if prices persist on their uptrend, and touch their prior all-time high of USD 20, where users could gain almost 54% gains, and that’s in the short term.

Where to buy Chainlink (LINK)?

The LINK coin is available on many major exchanges. When purchasing a cryptocurrency from an exchange, it is always necessary to pick a reliable one. In fact, we recommend using Gate.io, Binance, Bybit, Kraken, Coinbase, and Bitfinex to buy Chainlink.

How to buy Chainlink (LINK) on Binance?

The first method is to buy USDT using the P2P option.

Step 1

Login to the Binance Account. Now, it is important to note that USDT and LINK trade in pairs. So, now buy USDT to trade LINK. Go to trade on Binance.

Step 2

Now, click on P2P.

Step 3

Now, change the currency as per your preference and select a payment alternative. A dialogue box will emerge. Click the agreement tickbox and confirm.

Step 4

Select the amount of USDT you want to trade. It will display how many USDT you will obtain. You can choose payment alternatives like PayPal, Skrill, Perfect Money, and Banco for the same. Once you complete the payment, your funding wallet will accept the asset.

Step 5

Now, the next step is to swap your USDT for LINK. For this, again Click on the Binance Logo and then click on Trade. After this, click on convert. Once you have the USDT balance, swap it for Chainlink(LINK). It takes 5 seconds to confirm the transaction.

How to Buy Chainlink(LINK) using a Debit/Credit Card?

You can buy Chainlink with Debit and Credit cards as well. For this, click on buy crypto on the side of the Binance logo and then select buy Crypto with Debit/Credit Card option. The above screen will appear. Enter the amount you want to spend on buying LINK.