What Is Chainlink And How To Use It For Payments

Introduction

Are you looking to accumulate cryptocurrency and start using them for your digital payments?

If so, you might get confused with the best way to make your payments using cryptocurrency. There are so many web exchanges to use as well as hardware wallets.

But one option that’s catching steam is Chainlink. You might want to consider this as your method for making payments.

This short guide will teach you what is Chainlink and its advantages for cryptocurrency.

What Is Chainlink: The Basics

Chainlink was founded by entrepreneur Sergey Nazarov who had experience working with smart contracts.

Chainlink got made to connect the physical world with the blockchain that exists in the digital world. It makes sure that these transactions occur in a secure environment.

With smart contracts, the transaction gets recorded and is safe from tampering or misuse.

Why Use Chainlink?

So why do you need to bother to use Chainlink when there are so many web exchanges and hardware wallets available?

Web exchanges and hardware wallets might work fine for buying a cheap product at your local convenience store.

But what if you need to order a large shipment of goods from overseas? How do you ensure that you have a record of your payment in case of any issues?

This is where Chainlink comes in!

It ensures that such large transactions occur without issue. The smart contract technology keeps a record of the payee and recipient.

Chainlink got made to prepare vendors for moving away from physical contracts to digital contracts. The blockchain is a lot more trustworthy than digital payments made without this framework.

What to Do Next

So the next step is to buy Chainlink as often as possible. You want to accumulate as much as you can so you can make purchases without postponement.

As Chainlink is a new cryptocurrency, you’ll have to be patient with its adoption. You’ll still find many of your vendors might prefer traditional coins such as Bitcoin rather than Chainlink.

You might also want to promote Chainlink to web exchanges and hardware wallets. You want to speak to the proprietors and ask them if they can offer the Chainlink (LINK) coin on their platforms.

If you sell products in the physical world, you want to encourage your customers to use Chainlink as well. While you don’t want to compel them to use it, you can offer incentives for your customers to use it.

For example, you can offer them discounts if they use Chainlink rather than Bitcoin or Ethereum.

Now You Know What Chainlink Is

Now that you know what is Chainlink, you can begin to accumulate the cryptocurrency for your purchases.

Start by buying as much of the coin as you can. Make sure you reach out to web exchanges and hardware wallets to request that they adopt Chainlink.

Encourage your customers and vendors to adopt the usage of Chainlink. We can expect this cryptocurrency to gain more popularity in the coming years.

You can also find more great content on cryptocurrency and blockchain on our website!