This Chainlink review has revealed that Chainlink also known as LINK works with the aim of getting real-world data onto the blockchain. LINK is Chainlink’s native token and is used to pay node operators on the network.
Choose your quick section of our Chainlink review below.
A Quick Overview of our Chainlink Review:
Chainlink is a decentralised oracle service that works to improve the interconnectivity of smart contracts. This is done by allowing smart contracts the ability to access reliable data feeds, APIs, payments, and numerous other sources.
Live Price
What is Chainlink?
Chainlink works with the aim of getting real-world data onto the blockchain. LINK is Chainlink’s native token and is used to pay node operators on the network. The value and demand for LINK depends on the number of operators that work on the off-chain architecture on the Chainlink network.
Key Features and Takeaways of Chainlink
LINK is one of the most popular cryptocurrencies in the market and it has the following features and takeaways:
- Chainlink was launched in June 2017 and is a project led by Sergey Nazarov, the CEO, and Steve Ellis, CTO.
- LINK is an ERC20 token that has an additional ERC223 “transfer and call” function, allowing tokens to be processed as well as received by smart contracts in a single transaction.
- Chainlink is a decentralised oracle service that works to improve the interconnectivity of smart contracts. This is done by allowing smart contracts the ability to access reliable data feeds, APIs, payments, and numerous other sources.
- Chainlink acts as a middleware between systems that are both on-chain and off-chain. Through this unique technology, Chainlink lets smart contracts react to real-world events and execute agreements which would otherwise need proof of performance, and more.
- Chainlink solves the issue with connectivity between the blockchain and smart contracts by allowing smart contracts access to various resources.
- Chainlink’s on-chain component consists of oracle contracts on the blockchain of Ethereum that monitor and process user data requests.
- The off-chain oracle nodes harvest various responses to external requests which are summed up through several consensus mechanisms. These are then returned into a single, reliable response which is converted to a contract.
- Chainlink has partnerships with Bitcoin, Hyperledger, Synthetix, Celery Network, Google, and several other reputable entities.
Chainlink Mining
Chainlink works with the purpose of getting real-world data onto the blockchain. When LINK is being staked, it is deposited onto a node and if the node makes money from selling data, the user keeps a portion of this. Should the node provide incorrect data, the node is penalised, and the user forfeits a percentage of their LINK.
When LINK is staked, users can earn a fraction of however much the node operator collects. Different node operators will pay out varying amounts and nodes that are higher in demand, will subsequently generate more rewards.
Anyone who holds LINK can stake it, however, users must consider that there are certain conditions under which they can be subjected to tax in the form of rental or interest income, depending on the country in which they reside.
Buy LINK
LINK can be bought from a variety of major cryptocurrency exchanges such as Binance by registering an account and making a deposit either in crypto or in fiat. While buying LINK, it is crucial to consider that LINK is a risky and volatile asset as the price could fluctuate quickly.
It is also imperative to ensure that users keep their LINK tokens in a safe, offline wallet, so that they do not fall prey to hacking attempts.
Find and choose a node operator
Chainlink Node Operators are individuals who provide data to the Chainlink network. Once users have selected their operator, and staking is live, they can allow for staking to proceed on their node.
Deposit LINK
Once users have selected their node, they can deposit their LINK to the operator to start staking.
Manage funds
In time, assuming the node selected did not incur penalties, users can start making money from staking. These additional funds are kept on the same node operator or the funds can be withdrawn depending on the node and the reward rate of earnings.
Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Chainlink offers decentralised oracles | Truly little communication on further developments |
| Chainlink is both a smart contract platform and blockchain system | |
| Chainlink guarantees a secure connection between on- and off-chain information | |
| Chainlink allowed for the evolution and adaptation of the blockchain world | |
| There are many partnerships and integrations between Chainlink and trusted partners | |
| There is a high demand for Chainlink | |
| Significant presence on social networks | |
| Promotes interoperability | |
Transaction Fees
| 💰 Type of Fee | ℹ️ Information |
|---|---|
| Deposit Fees | 0.12 LINK |
| Trading Fees | 0.1% - 0.75% |
| Withdrawal Fees | 0 LINK |
Should you buy Chainlink?
Both Chainlink and LINK are showing tremendous growth and it is one of the top 100 cryptocurrencies in the world. It presents an ideal combination of a project with the correct technology and enough resources for further development.
As an oracle network that helps blockchains gain access to reliable data, Chainlink has established that it is a crucial component in the digital future where there is a lot of potential in smart contract technology.
Chainlink is important as it has software which is specifically designed to improve the quality of data on which other blockchains can base their smart contracts. In addition to this, the cryptocurrency market can rely on more accurate and precise external data, leading to further improvements in quality and security, all brought on by Chainlink.
By using Chainlink, companies can leverage the powerful technology that it offers in a trustless manner. Users can use it and know that the data that they receive is not corrupt, incorrect, and it is delivered in a timely manner.
When considering whether to invest in any cryptocurrency, there are several factors to consider namely the longevity of the crypto, the reputation of the investment, and the volatility of the cryptocurrency.
Chainlink has shown tremendous growth in the past four years since its launch and in deciding whether to buy LINK, it is imperative to consider past performance and the factors that cause the price to increase or decrease.
In August 2025, LINK reached an all-time high price of just under 281.08 ZAR and at the time of writing, it is sitting on 686.82 ZAR, with price predictions indicating that the price is set to rise to 1 511.38 ZAR by the end of the year.
As with a lot of things, marketing drives the demand for something, especially when considering a market which is flooded with different types of cryptocurrencies. Chainlink and LINK have experienced positive public relations as a result of various partnerships and the issues that Chainlink aims to resolve.
Chainlink and LINK currently do not compete against any major projects in the cryptocurrency space. In addition to this, it also holds the advantage to becoming the first mover in the oracle services niche.
Analysts seem to think that Chainlink will keep its momentum, which means that there will be a steady increase in price over the next few years, especially as more of the supply decreases. LINK is currently an asymmetric investment opportunity, which means that the potential upside that it has, is greater than the potential downside, despite overall market conditions.
This is as a result of the services that are provided by Chainlink as it has positioned itself as a crucial actor in the cryptocurrency space.
How to buy Chainlink (LINK)
Step 1 – Open an account on Binance
Navigate to the official Binance website and select “Register Now”. You will be redirected to a “Create a Free Account” where you can either register with your email address or your mobile number.
You can enter your email address and user-selected password or select the “Mobile” option at the top of the form. Select your country code and enter your mobile number along with your user-selected password.
Once you have completed the necessary fields, you can read and accept the Terms of Service before selecting “Create an Account”.
You may have to complete a Security Verification that will confirm that you are not a robot. Next, there is an account verification. During this, a 6-digit verification code is sent to the email address or mobile number that you provided. The code is only valid for 30 minutes and must be entered in the blocks provided on this page.
Once the verification is completed, a welcome page will load, and you will be given the options through which you can either trade or purchase cryptocurrency. If you are new to crypto, you can visit the “Learn More” Section at the bottom of the page.
Step 2 – Secure account with two-factor verification
On the trader’s dashboard, select the option to secure your account with two-factor verification. Even though phone verification is a secure option, the most preferred and secured method is to make use of the Google Authenticator.
Once downloaded and installed, either scan the QR code or type in the one-time, unique code provided to add your Binance account credentials onto Google Authenticator.
Once completed, write down the back up key provided to recover your account on Google Authenticator in case you lose or misplace it. In the final step, enter the 6-digit code which you will receive on your registered email address along with the Google verification code.
Step 3 – Deposit funds
Binance allows for the purchase of cryptocurrencies via fiat deposits as well as cryptos. Deposits can be accessed from the following locations:
- The “Welcome to Binance” banner.
- Hovering over “Buy Crypto” at the top of the web page and selecting your preferred method.
- Selecting “Deposit” on the “balance details” section on your traders dashboard.
Once you have selected the option to “Deposit”, you can select whether you wish to deposit cryptocurrencies from another wallet, or whether you want to make a fiat deposit.
For Crypto deposits, follow these steps:
- Select your coin between Bitcoin, Ethereum, TetherUS, BNB, or EOS.
- Select the network to be used between BEP2, BEP20 (BSC), ERC20, or TRC20 and accept the conditions for using the network.
- Copy the address or scan the address QR code from the wallet where you are depositing and follow further prompts. Kindly note that each network has its own set of network confirmations between 1 up to 15 confirmations before the deposit will be done.
For deposits in Fiat currencies, follow these steps:
- Select the deposit currency from the dropdown list. To gain access to more currencies, it is necessary to verify your identity and face.
- Select the payment method to be used, depending on the currency chosen.
- Enter the deposit amount and any other details. Kindly note that the transaction fee will be displayed along with the balance after this is subtracted.
- Continue with the deposit.
Step 4 – Start Trading
Once you have completed your deposit, you can navigate to the “Markets” section at the top of the page to view the available cryptocurrencies. From here, you can buy, sell, and trade currencies at competitive prices.
Frequently Asked Questions
When was LINK first launched?
LINK was launched in 2017.
Who founded Chainlink?
Chainlink was created by Sergey Nazarov in 2014.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Chainlink’s ICO and how much did it raise?
The ICO for Chainlink was held in 2017 with 449 million ZAR raised in just two hours.
Is Chainlink legit?
Yes, Chainlink and LINK are both legit.
What is Chainlink’s total supply?
LINK’s total supply is limited to 1 billion. This means that there will not be any new LINK tokens created beyond this point, creating scarcity, and adding value to LINK as time progresses. 30% of LINK was kept back by the company to ensure that there is continued development and remuneration for staff.
What is the purpose of Chainlink?
To help different blockchains interact with one another and other external data sources by using oracles.
On which blockchain is Chainlink based?
LINK was built on the Ethereum blockchain.
Does Chainlink work with smart contracts?
Yes, Chainlink is a middleware between on-chain as well as off-chain systems by offering smart contracts access to various off-chain resources.
Does Chainlink have potential to become more valuable?
Yes, with the unique services that Chainlink offers, LINK has potential to become more valuable, especially considering that there is a limited supply.
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