Chainlink is a decentralised oracle network that connects smart contracts with real-world data. It enables smart contracts to access information from various sources, such as APIs and data feeds, ensuring accuracy and reliability. LINK is the native cryptocurrency used to pay node operators and secure the network.
's popularity has made it readily accessible through various platforms, including our app. If you're interested in buying
, here's how you can do it through our app:
To get started, download and install our app from your preferred app store.
With no foreign transaction fees, you can spend your crypto globally, anywhere Visa is accepted.
Deposit crypto to your CryptoSpend Wallet or deposit $AUD via PaylD or BSB & Account Number within seconds.
Once you're verified and have your funds ready, navigate to the
section within the app. Here you can view real-time prices, historical data, and market trends.
Specify the amount of
you want to buy and confirm your order. You can choose to buy a fraction of a
or whole units, depending on your preference and budget.
Done! You have now bought
. What now? You can either keep your crypto in your CryptoSpend Wallet or you can transfer it to a different hot or cold storage wallet for added security, or you can cash out and spend your crypto through the CryptoSpend Card, which converts your crypto into fiat in real-time! It works anywhere Visa is accepted.
Chainlink is a groundbreaking project in the blockchain space, addressing a crucial challenge for smart contracts: accessing external data. Smart contracts, by design, are self-executing and lack the ability to interact with real-world information. This is where Chainlink comes in.
Chainlink operates as a decentralised oracle network, acting as a bridge between smart contracts and external data sources, APIs, and payment systems. It ensures that smart contracts receive accurate, timely, and tamper-proof data, making them more versatile and applicable in various industries, including finance, insurance, and supply chain management.
The native cryptocurrency of Chainlink, LINK, plays a pivotal role in the network's operation. It is used to compensate node operators for retrieving and transmitting data to smart contracts, incentivising them to provide reliable services. Additionally, LINK secures the network by enabling staking and penalties for misbehavior.
Chainlink's decentralised and trustless nature has made it an essential component of the blockchain ecosystem. Its ability to connect smart contracts with real-world data is instrumental in enabling innovative decentralised applications (dApps) and the broader adoption of blockchain technology across industries.
**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by CryptoSpend to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of CryptoSpend products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.