Chainlink Casinos – How to Buy, Sell, Barter and Gamble Online with LINK
Chainlink is a crypto currency, but it is by no means what you’d call ‘just another altcion‘. It was originally created as a blockchain oracle. A blockchain oracle is a means of linking smart contracts with the outside world. Over time, Chainlink is evolving into so much more. It is now an innovative oracle network with its own native LINK crypto and an ecosystem that thrives on the flexibility of its secure infrastructure.
Chainlink is a premier choice for facilitating Ethereum-based smart contracts. As an open network, anyone can join Chainlink. Businesses often use it to facilitate industrial contracts. It also acts as a virtual ‘Help Wanted‘ posting board for all types of smart “contractors”. Users can accept Chainlink “jobs”, working to operate oracles and nodes, solving contract postings, and earning LINK for their time and effort.
As complex as the Chainlink ecosystem sounds, its unique crypto coin retains the same basic usage as Bitcoin and altcoins. You can buy it, sell it, trade it for goods and services, or hit up your favorite crypto casino to play online blackjack for LINK. We’ll teach you how to do all of these things in the following text. First, let’s take a quick look at the making of Chainlink crypto.
History of ChainLink – Connecting the Digital World
Chainlink was hypothesized by crypto market strategist Sergey Nazarov in 2014 – the man previously responsible for smartcontracts.com – but it wasn’t until 2017 that his concept materialized into the launch of the Chainlink Oracle Network.
Nazarov’s goal was to introduce a central oracle network capable of receiving and verifying digital information. His oracle network was meant to solve the inherent limitations connecting smart contracts to off-chain data sources.
Launching on the mainnet in May 2019, Chainlink ultimately accomplishes that goal, and more, by evolving into a decentralized oracle network that utilizes off-chain data sources and APIs to secure, verify and process payments for the completion of smart contracts. You can learn more about the current capabilities and future prospectus for the network in the most recent (April 2021) publication of the Chainlink 2.0 White Paper.
As for value, “Chainlink [LINK]” (not to be confused with the crypto “Link [LN]”) has skyrocketed since its opening in September 2017. Originally worth about US$0.17, LINK slowly rose to top the US$1.00 mark in May 2019. The price steadily rose over the next year, hitting an all-time high of just over $50 in May 2021.
Today, Chainlink is seen as one of the more volatile (and therefore investment-worthy, in certain circles) crypto currencies on the market.
How to Accumulate Chainlink [LINK] Crypto
Among the fastest growing crypto in the blockchain community, you can acquire Chainlink in a variety of ways. It’s available on most CEX and DEX trading platforms. Or, you can earn it by completing Chainlink “job” requests (kind of like mining). Unfortunately, you cannot buy LINK at Bitcoin ATMs at this time. However you get it, you’ll need a way to store it, so let’s start there.
Chainlink Compatible Wallets
As an ERC20 token, Chainlink is compatible with any wallet that works with the Ethereum blockchain. If you’re planning on investing in Chainlink for the long-term, a physical hardware wallet like Trezor is a good option. However, if you’re looking to buy, sell and/or gamble with LINK, a simple software wallet will do.
The Chain.link website recommends MetaMask, an in-browser app that interacts with decentralized applications (dApps) on the Ethereum and Testnet blockchains. You can also use a variety of free software wallets like Binance and Trust Wallet.
Crypto Exchanges that Trade Chainlink
As a popular crypto among risk-savvy investors, Chainlink is available for purchase on just about every crypto-friendly trading platform. The key is to find one that’s right for you. Some things to take into consideration are security, speed, expense, crypto variety, and convenience. For example, if you’re using the Binance Wallet to store LINK, you might as well utilize the cost-friendly Binance Exchange to purchase it.
Is Chainlink Anonymous?
No. Plain and simple, Chainlink does not support user anonymity. Every transaction can theoretically be traced back to its originating and ending wallet ID, which can be traced to an IP, which can be traced to an address, etc., etc. To the casual observer, your identity is safe, but if anyone really wants to know who’s moving what, and has the right knowledge to do it, they’ll be able to figure it out.
If you’re looking for a truly anonymous crypto currency, have a look at Monero (XMR) or Verge (XVG) instead.
Betting with LINK at Chainlink Crypto Casinos
Chainlink isn’t what we’d call the ideal crypto for online gambling. For starters, despite eligibility for iGaming, this particular token is capable of so much more. It almost seems a waste to use it for something so trivial; like using a fresh loaf of bread to swat a fly. But that’s only one writer’s opinion. More importantly, LINK can be extremely volatile.
The act of gambling is, by definition, to take a risk. Investing in a volatile crypto like Chainlink comes with its own risks. To purchase LINK for the purpose of online casino gaming is effectively doubling the inherent risk of gambling. I’m sure there are some wealthy thrill-seekers out there who love that idea, but unless you’re one of them, I would suggest you consider a more stable crypto for your iGaming pleasure; perhaps something like Tether [USDT], CasinoCoin [CSC], or Bitcoin Cash [BCH].
If you’re still keen on the idea of betting with LINK, there are a few reputable Chainlink casinos accepting Canadian players. When I say “a few”, I mean it. In our considerable experience, only about 25% of crypto casinos deal in LINK.
