Chainlink (LINK) is a popular cryptocurrency that has been around for two years now. It is currently the 18th largest cryptocurrency in terms of market cap, which stands at $725 million as of 28th August 2019.
Due to its popularity, numerous cryptocurrency exchanges that support LINK trading, allowing people to buy and trade the cryptocurrency. In this post, we will look into the top three cryptocurrency exchanges where you can buy and trade Chainlink.
What is Chainlink?
Chainlink (LINK) is the cryptocurrency behind the Chainlink network, which is a decentralized network of nodes that interact to allow better service deliverance. The network and cryptocurrency which are developed by the San Francisco fintech company SmartContract are comprised of on-chain and off-chain nodes that interact to ease the deliverance of services and make them better.
The LINK token serves as the currency to pay the node operators and is required to perform several operations on the network. The demand and value of the LINK tokens are related to the number of operators that offer off-chain services to the network. Thus, the fact that LINK is ranked the 18th largest cryptocurrency by market cap means that it has real potential to become widely adopted.
Top three exchanges to buy and trade LINK
There are currently around 50 cryptocurrency exchanges that allow people to purchase and trade LINK tokens on their platforms. Due to this large number, it has become hard for people to know which exchanges are best to buy and trade LINK. Here are top three exchanges for this service.
Binance is the largest cryptocurrency exchange in the world, with a daily trading volume that is above that of its competitors. It is also home to one of the most extensive collection of cryptocurrencies. At the moment, Binance is responsible for roughly 30% of the total trading volume of LINK. The LINK/BTC pair at Binance takes 18% of LINK’s entire trading volume while the LINK/USDT and LINK/ETH pairs on that platform accounts for 9% and 1/2% of the trading volumes respectively.
Due to the high liquidity of LINK on Binance, it is currently the best cryptocurrency exchange for people to buy and trade the coin. The high liquidity means that you can buy, trade, and sell the crypto with ease at any time on Binance.
MXC is the crypto exchange with the second largest trading volume for LINK. It accounts for roughly 11% of LINK’s total trading volume. The LINK/USDT and LINK/ETH trading pairs account for 7.3% and 3.9% of LINK’s total trading volume respectively.
In addition to that, MXC has a robust trading volume where users can easily buy, trade, and cash out their earnings. Thus, making it an excellent platform to buy and trade LINK.
Similar to MXC, Bibox accounts for a substantial amount of LINK token on its trading platform. LINK/BTC, LINK/USDT, and LINK/ETH account for 4.8%, 4.3%, and 3.6% of LINK’s total trading volume respectively.
As one of Europe’s leading cryptocurrency exchanges, Bibox has the liquidity and users to make it easy for people to trade LINK. Thus, these features give Bibox an edge and it is one of the best places to buy and trade LINK.
As a popular cryptocurrency, there are over 50 exchanges currently supporting LINK trading. However, due to their large trading volumes and impressive market numbers, the three exchanges reviewed in this article are the best places for you to buy and trade LINK.