Chainlink Casinos 2022

Vienne-GarciaVienne Garcia
6 min read
Chainlink Facts
chainlink-coin
Company: Chainlink Foundation
Founded in:2017
CEO: Sergey Nazarov, Steve Ellis, Dr. Ari Juels
Website:chain.link
Available in:over 100 countries
E-Mail:[email protected]
Best Chainlink Casino:Stake
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In the crowded world of cryptocurrencies, Chainlink is emerging as a project with long term potential. Launched in 2014 by the company SmartContract which was founded by Sergey Nazarov and Steve Ellis, Chainlink has been growing steadily, and therefore so has its market value.

Based on the decentralization philosophy that is key to crypto, Chainlink is a decentralized network with a token called LINK, which itself was launched in 2017. And as the name SmartContract suggests, the key selling point behind the entire project is that it will connect the world of off-chain data to the blockchain to enable wider smart contract application. The LINK token is used to reward those who form the nodes in the Chainlink network to sustain its oracle network.

As LINK picks up, more gambling operators are seeing the potential in this coin and have been integrating LINK as a payment method. While it’s still by no means as widely accepted as Bitcoin, Ethereum or even Litecoin, there are already more than several crypto casinos where you can gamble with LINK. Once you find a casino that banks with Chainlink, the depositing and withdrawal process is just like with the other cryptocurrencies.

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Contents

Best Chainlink Casinos 2022

As the list below shows, while Chainlink is not as popular as BTC, ETH and LTC for now, there are several crypto casinos you can choose from if you want to gamble with LINK. What’s more, these sites also offer pretty fat crypto bonuses for new players too.

eCOGRAGLIiTech LabsMalta Gaming AuthoritySSL Secured
1.
stakecasino-logo-cryptos-only95% Excellent$500visit StakeRead Review
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cloudbet-cryptos-only95% Excellent5 BTC / $1,000 + 200 Free Spinsvisit Cloudbet CasinoRead Review
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22bet-logo93% Outstanding$300visit 22BetRead Review
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BCGame-Logo93% Outstandingno limitvisit BC.Game CasinoRead Review
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20Bet-Logo92% Outstanding$180+ 120 Free Spinsvisit 20Bet CasinoRead Review
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What is Chainlink?

The original plan for Chainlink was to solve an issue with smart contracts, and the LINK token was only developed afterwards. So it’s worth diving a bit into smart contracts first.

Smart contracts are essentially digital contracts on the blockchain that automate an action after certain pre-specified conditions have been fulfilled, and are set to revolutionize the business world. However, to truly fulfil the promise of smart contracts, data from the real world needs to be connected to the blockchain.

info iconAs smart contracts are written on the blockchain, they are completely public and cannot be modified once they have been written. Therefore, they are completely transparent and can be a very secure way to ensure fairness for all parties involved in the contract.

For example, let’s imagine you want to bet on a boxing match. You can create a smart contract for this where a certain payout will occur depending on who wins. This means that the smart contract must have access to the boxing match results, that is data, but this data is not on the blockchain. The blockchain needs to connect to an oracle for the data.

This is where Chainlink comes in. Rather than a centralized network of oracles, Chainlink ensures the smart contract has access to a de-centralized, distributed oracle network built on the Ethereum protocol. Oracles that produce high quality data are rewarded with the LINK coin, while those that produce low quality can lose coins. This means that Chainlink provides higher quality and more reliable data to ensure that the smart contract is properly executed. LINK is the only coin used in executing Chainlink functions, and the coin can also be bought on many crypto exchanges.

Video explaining the Chainlink project


History and Development of Chainlink

The original idea for Chainlink was born in 2014 with Sergey Nazarov and Steve Ellis founding the company SmartContract.com. It did take a few years before their vision really took off as all the building blocks to their plan came together. In 2017, it launched an initial coin offering (ICO) and raised $32 million. At this time, Chainlink issued 32 million LINK to the investors out of a total supply of 1 billion LINK. With investors holding roughly 30% of the coin supply, the coin’s value was stabilized, while the rest of the supply was earmarked for rewarding oracle nodes and for further development in the company.

2019 was a good year for Chainlink when it began operations on the Ethereum blockchain. Very quickly, it signed partnerships with the big players in the IT world, including the likes of Google, Microsoft and Oracle. It was also the year when LINK began appearing on crypto exchanges. Shortly after, in 2020, Chainlink became one of the key players in the world of oracle solutions; compared to its three biggest competitors, the number of partnerships Chianlink holds is 22 times more than those of the three combined. And this has pushed the Chainlink token LINK to becoming a cryptocurrency with one of the biggest market caps today.

chainlink-labsAnyone who accessing the smartcontract.com website will be redirected to Chainlink Labs.MoreLess

How to Earn LINK tokens

You can earn LINK tokens by setting up a Chainlink node, however do be aware that while the opportunity is theoretically available to all, you should be aware that nodes are checked by engineers to ensure their quality to ensure that they are reliable. This means you should at least have some technical experience in DevOps and in running blockchain infrastructure. For most people, it’s not worth the trouble and it’s easier just to buy some LINK on an exchange instead.


idea iconChainlink will be implementing staking soon, so that those who hold LINK but don’t have the technical requirements to run a node can also earn tokens passively.


Buy LINK tokens

coinbase-logoIf you want to get into LINK, the easiest thing to do is simply to buy them from a crypto exchange. It’s listed at all the major crypto exchanges like Coinbase, Binance, as well as Exodus. If you’ve ever bought any cryptocurrency before, it’s the exact same process, but for the benefit of those who are new to crypto, we’ve outlined the steps for you below.

  1. Go to your crypto exchange of choice.
  2. Sign up, or log in if you already have an account.
  3. Make a deposit to ensure you have sufficient funds to make your purchase. This can typically be done with a credit card.
  4. Verify your account if you are new.
  5. Buy LINK. Most crypto exchanges come with a wallet through which you can manage your newly acquired tokens.

If you already own other ERC-20 tokens, like Ethereum or Tether, you could opt to exchange these coins for LINK instead.

Gambling with LINK at a Crypto Casino

If you have used any cryptocurrency at a casino before, then gambling with LINK is no different. The process will be intuitive and all you have to do is make sure you choose LINK as your payment method at the casino’s cashier section. For those who are new to crypto gambling, we have these step by step instructions to help you get started.

  1. Find a crypto casino that accepts LINK, and then register.
  2. Go to Deposit from your casino account. This is often in the top right of the site.
  3. From the list of payment methods available, select LINK.
  4. A QR code will be generated with a wallet address.
  5. Either scan the QR code with your crypto wallet app or enter the address manually into your web wallet.
  6. Enter the amount you want to deposit.
  7. Confirm the transaction.

time is moneyCrypto transactions whether in LINK or another cryptocurrency always require confirmations on the blockchain before they officially go through. This includes casino deposits and withdrawals, of course. The time required for confirmations vary. Usually it just takes seconds and rarely more than a few minutes. Practically speaking, you can start gambling with LINK immediately.

The withdrawal process is similar to the deposit process outlined above. The only difference is that you choose Withdraw from your casino account instead of Deposit.

LINK Casino Pros & Cons

  1. Advantages to playing at LINK casinos
  2. Disadvantages to playing at LINK casinos

1.) Advantages to playing at LINK casinos

When it comes to LINK casinos, you’re looking at these key advantages, most of them come from using a cryptocurrency for gambling in general.

  • thumb up iconFast transactions, especially very fast withdrawals
  • Higher degree of anonymity and security than regular money
  • Extremely reliable, thanks to the ERC-20 protocol
  • Keep your bank account info separate from the casino

2.) Disadvantages to playing at LINK casinos

There are downsides to everything, and the main disadvantages to LINK casinos are quite minor.

  • Relatively few casinos accept LINK at the moment
  • Fees related to crypto transactions in general
  • Price is more volatile than stable coins like USDT

performance iconAs of the time this Chainlink gambling guide was put together, there were several crypto casinos that accept LINK but compared to Bitcoin and Ethereum the options are relatively few. This will likely change though as cryptocurrencies become more mainstream. The other disadvantage concerning the transaction fees can be mitigated somewhat by shopping around for a crypto wallet, which you should choose carefully if you are planning to be in the crypto for the long run.

What’s special about the LINK coin

As already mentioned, the Chainlink network was designed to connect smart contracts with real world data. By leveraging the transparency of blockchain technology and digital automation, smart contracts are expected to fundamentally change the world of trade and business. But of course, this all requires that smart contracts have access to reliable data. This is why LINK has a very functional role and stands apart from the hundreds of coins available on the market today.

And when it comes to gambling, Chainlink has a unique feature called VRF (Verifiable Random Function) that ensures results are truly random. While this feature is designed for robust cryptographic security, anyone who knows even just the tiniest bit about gambling will know that randomness is absolutely key to fair casino games. This kind of provably fair technology underlies much of crypto casino games.

chainlink-provably-fair-rngWith Chainlink VRF, Chainlink has developed its own random number generator for provably fair blockchain gaming.MoreLess

Gambling safely with LINK

license iconWhether you’re planning to gamble with LINK or another coin, it’s absolutely essential that you choose your casino carefully. Cryptocurrencies can be worth a good deal of money, and you don’t want to accidentally give to away to some scammers who call themselves a casino. Our advice is to always choose a LINK Casino that is licensed, such as the license from the Curacao Gambling Authority. Reading casino reviews are also a good idea so you go in with a clear idea of what to expect.

LINK Casino Payment Limits

High rollers have been moving over to crypto gambling because of the higher limits at crypto casinos. LINK is no exception and will get you these high limits just like BTC and ETH. Some of these casinos have no maximum deposit limit at all.

arrowOn the other hand, there will always be a minimum deposit with crypto gambling. You need to put in enough to cover at least the fees related to the crypto transaction. Chainlink fees range from a few cents to a few dollars. Clearly this isn’t very high and it’s great for non-comital play, but we do want to remind you that it would be a good idea to deposit more than the minimum so you actually have a real bankroll to gamble with and don’t have to reload every few minutes!

Chainlink Casino Games

Once you’ve deposited LINK into your casino account, you can use the credit to play all the games the casino has to offer. The main thing is having credit, and it doesn’t matter which coin you deposited in. LINK, ETH, BTC, USDT, it’s all the same once it’s in. At the Chainlink casinos listed on this page, you can count on games such as:

fruit-slotsSlot gamescoins iconOriginal crypto games live-dealer iconLive casino games
roulette icon  Roulette black-jack icon  Blackjack jackpot icon  Jackpot games
soccer icon  Sports betting rubbellose icon  Scratch card gamescoins icon  Arcade games

This is just a general overview and exact gaming options can vary slightly with each casino. For example, not all sites will have sportsbetting, so it’s a good idea to look around and see what works best for you.

Tips for gambling with LINK

Gambling with LINK is really no different than gambling with any other cryptocurrency. And that means one of the things you want to watch out for is price fluctuations. Our team has the following tips for you as starters.

  • Buy LINK before you want to play so you can buy in when the price is right
  • Shop around for a crypto exchange and crypto wallet with fee structures that fit your needs
  • Consider buying LINK with other cryptocurrencies you might already hold to fully take advantage of price fluctuations across different coins

Chainlink coin alternatives for online gambling

While Chainlink has a very promising future, the number of online casinos that accept the LINK coin are not particularly numerous. For gamblers who like to casino hop, LINK may not be the best choice. Or at least, what we do suggest is to have some other alternatives in your wallet ready so there’s nothing holding you back. Some good alternatives include:

It usually goes the other way too. By that we mean if a casino accepts LINK, then usually it is pretty much at the forefront of the crypto gambling scene and there is a fairly good chance that it will accept BTC, ETH, and a handful of other altcoins too.

Chainlink coin FAQ

  1. Is there a Chainlink coin casino bonus?
  2. Will the LINK coin moon?
  3. Can I play Bitcoin games with LINK?
  4. Are LINK casino games Provably Fair?

1.) Is there a Chainlink coin casino bonus?

You won’t get a bonus for specifically using the Chainlink coin at a casino; however, if the casino has a crypto bonus, you can claim it with a LINK deposit. Most of the time, these offers are listed in BTC although players should be aware that while the bonus rate stays the same, the offers can have different maximum amounts depending on the coin you are using. If you want to get the most out of a crypto bonus, it’s good to check the offer’s terms to see what the max is before choosing the cryptocurrency for your deposit.

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2.) Will the LINK coin moon?

Everyone wants to know whether and when a particular coin will moon, after all if we know it will soar in the future, we can feel confident buying now and hold through the rough patches. No one knows for sure whether LINK will moon, but overall, we would say that the value of LINK has a very promising future given that it powers the Chainlink oracle network, which will be playing a critical role in the implantation of smart contracts.

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3.) Can I play Bitcoin games with LINK?

Yes. Bitcoin games are really just a legacy term for games that can be played with cryptocurrencies, from back when the only coin people knew was BTC. This means you can use LINK to play Bitcoin slots as well as all the other games available at a particular casino site. The key is to make sure you have sufficient funds in your casino account, and as long as the site banks with LINK, you’re good to go.

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4.) Are LINK casino games Provably Fair?

While Chainlink’s VRF feature has much to contribute to the development of Provably Fair games, whether games at a LINK casino use the Provably Fair algorithm or not does depend on the casino site itself. When it comes to casino games, Provably Fair are games that are played on the blockchain. To date, Provably Fair casino games is still limited to crypto arcade games, and most operators will have other software based RNG games that are regularly audited for fairness. In short, some games at LINK casinos are Provably Fair, but most are likely not.

stake-casino-originalsStake Origials are Provably Fair gamesMoreLess

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The Expert Conclusion on Chainlink Coin

thumb up iconThe LINK coin, is a cryptocurrency that certainly has a bright future. As the token to the Chainlink network that is emerging as one of the biggest oracle solutions for smart contracts, LINK is not just any altcoin or meme coin. This is a cryptocurrency that means business, making it a great coin to hold from the investment side of things.

In terms of LINK casinos, the field is somewhat sparsely populated for now although things do change very quickly and we wouldn’t be surprised to see more sites adding this token to their available payment methods in the future.

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Author: Vienne Garcia
Last Update:
Article reviewed: Chainlink
Author Rating: 90%