What Is Chainlink (LINK)?
Chainlink is a decentralized oracle network that connects smart contracts with real-world data such as prices, events, and off-chain APIs.
LINK is the native token of the Chainlink network, used to:
- Reward oracle nodes for providing reliable data,
- Secure the oracle network through economic incentives,
- Pay for data and services within the Chainlink ecosystem.
For Betida players, LINK is:
- A familiar token for DeFi and infrastructure-focused users,
- A liquid, widely traded asset,
- An additional crypto currency for casino and sports betting.
A Brief History of Chainlink and LINK
- 2017 – The Chainlink whitepaper is published, introducing the idea of a decentralized oracle network that brings off-chain data onto blockchains.
- 2017–2018 – LINK token sale and initial exchange listings; Chainlink begins establishing itself as a key data layer in crypto.
- 2019–2021 – DeFi explodes in popularity, and Chainlink price feeds become the standard oracle solution for many DeFi protocols. LINK gains significant adoption.
- Later years – Chainlink expands into new services such as VRF (verifiable randomness), automation (Keepers), and cross-chain messaging (CCIP).
Today, Chainlink is widely viewed as a core infrastructure project for Web3, and LINK is its economic backbone.
How Does Chainlink (LINK) Work? – Oracle Logic
Blockchains are secure but closed systems. On their own, they cannot access:
- Market prices,
- Weather data,
- Sports scores,
- Traditional Web2 APIs,
without help.
Chainlink solves this by using a network of oracle nodes that:
- Fetch data from off-chain sources,
- Aggregate and verify it,
- Deliver it to smart contracts in a secure, tamper-resistant way.
The LINK token is used to:
- Pay oracle nodes for their data and services,
- Create economic incentives for honest and high-quality behavior,
- Help secure the overall oracle network.
From Betida’s perspective, beyond its technical function, LINK is:
- An ERC-20 token on Ethereum (and present on some other networks),
- A freely transferable asset that can be deposited and withdrawn,
- A currency you can use to fund your Betida account and place bets.
How Does LINK Compare to BTC, ETH, USDT, and BNB?
LINK vs Bitcoin (BTC)
- BTC
- Native coin of the Bitcoin network, Proof of Work,
- Positioned as digital gold and a store of value.
- LINK
- A DeFi infrastructure token used by the Chainlink oracle network,
- Its value is linked to demand for reliable on-chain data and Chainlink’s role in Web3.
BTC is macro “store of value”;
LINK is a backend infrastructure asset for data in smart contracts.
LINK vs Ethereum (ETH)
- ETH
- Native coin of Ethereum, used for gas and securing the network.
- LINK
- ERC-20 token on Ethereum, used to pay oracle nodes and participate in the Chainlink ecosystem.
- Requires ETH for gas when transferred.
ETH is the “fuel” of Ethereum;
LINK is the incentive and utility token for the Chainlink oracle layer.
LINK vs USDT (Tether)
- USDT
- A stablecoin targeting 1 USDT ≈ 1 USD, minimizing volatility.
- LINK
- A volatile infrastructure token whose price moves with the crypto and DeFi markets.
On Betida:
- USDT is better for players who want a dollar-like stable balance,
- LINK is better for those who are comfortable with price swings and already engaged with DeFi.
LINK vs BNB and UNI
- BNB – Native coin of the BNB Chain, used for gas and ecosystem utility.
- UNI – Governance token of the Uniswap DEX.
- LINK – The token that powers a cross-chain oracle network used by many protocols.
All three are DeFi-related, but at different layers:
BNB = chain layer, UNI = DEX layer, LINK = data/oracle layer.
Depositing and Withdrawing LINK on Betida
Below is the general flow for using Chainlink (LINK) on Betida. Exact UI labels may differ, but the logic remains the same.
How to Deposit LINK to Betida
- Log in to your Betida account.
- Open the Wallet / Vault section from the main menu or your profile area.
- Click Deposit.
- Choose Crypto, then select Chainlink (LINK).
- Check which network Betida supports for LINK (typically Ethereum – ERC-20).
- Betida will show your LINK deposit address (and usually a QR code) on that network.
- Copy this address carefully.
- From your personal wallet (e.g. Metamask) or exchange account:
- Select the same network as shown by Betida (e.g. Ethereum / ERC-20),
- Initiate a transfer of LINK to your Betida deposit address.
- Enter the amount of LINK you want to send and confirm. Note: you will need ETH for gas when sending from an Ethereum wallet.
- After the transaction receives enough confirmations, your LINK balance will appear in your Betida wallet.
Important:
- LINK can exist as wrapped or bridged versions on L2s/other chains. Always match the exact network Betida supports.
How to Withdraw LINK from Betida
- Log in to your Betida account and open the Wallet / Vault section.
- Ensure your LINK balance is above the minimum withdrawal threshold.
- Click Withdraw and select LINK.
- Paste your personal LINK wallet address compatible with the supported network (e.g. Ethereum / ERC-20).
- Enter the amount of LINK you wish to withdraw within the allowed limits.
- Confirm the withdrawal and wait for confirmations on the corresponding blockchain.
If you encounter any issues, Betida’s Help Center and customer support can assist with LINK deposits and withdrawals.
Using LINK on Betida: Casino and Sports Betting
LINK can be used as a DeFi-native, liquid currency for both casino and sports betting on Betida.
Playing Casino Games with LINK
- Create a Betida account or log in.
- Check your LINK balance and deposit more if needed.
- Go to the Casino section and explore:
- Slots
- Table games like blackjack and roulette
- Live casino tables
- On each game page, review:
- Minimum and maximum bet sizes (in LINK or equivalent)
- Game rules and paytables
- Any available RTP and volatility details
- Set a clear LINK budget for your session and stick to it in line with responsible gaming practices.
Placing Sports Bets with LINK
- After logging in, open the Sports section on Betida.
- Browse upcoming and live events across different sports and leagues.
- Select an event to view:
- Live odds
- Available markets
- Live stats and information where provided
- Choose from markets such as:
- Match result (1X2)
- Handicap
- Totals (over/under)
- Player and special props
- Single and combo bets
- Add your selections to the bet slip, enter your stake in LINK, review your potential payout, and confirm the bet.
Once bets are settled, winnings are credited back to your Betida wallet in LINK.
Advantages and Considerations When Using LINK on Betida
Key Advantages
- Strong infrastructure brand – Chainlink is a core data layer for many DeFi protocols.
- High liquidity – LINK is listed on most major exchanges with deep markets.
- Natural fit for DeFi users – Ideal if you already hold LINK from your Web3/infrastructure positions.
Things to Be Aware Of
- Price volatility – LINK is not a stablecoin; its value can change significantly with market and DeFi sentiment.
- Gas costs – As an ERC-20 token, LINK transfers require ETH for gas, and fees can vary with network congestion.
- Ecosystem risk – As with any DeFi-related asset, users should stay informed about protocol and regulatory developments.
Promotions, VIP, and Responsible Gaming with LINK
When you use LINK on Betida, you can still enjoy:
- Eligible casino and sports promotions,
- Long-term rewards via the Betida VIP program,
- Benefits such as cashback, reload bonuses, special campaigns, and at higher tiers, dedicated VIP hosts (where available and subject to terms).
At the same time, Betida is built around responsible gaming:
- Treat your LINK balance as real money, including its price volatility.
- Set clear limits on deposits, stakes, and playing time.
- Avoid chasing losses or increasing your stakes impulsively.
- Use available tools and limits, and take breaks when needed.
Summary: Why Consider Using Chainlink (LINK) on Betida?
Chainlink (LINK) offers Betida players:
- Exposure to a leading Web3 infrastructure project,
- High liquidity and broad exchange support,
- A distinctive, DeFi-native option for funding casino and sports betting activity.
If you’re already engaged with DeFi and the Chainlink ecosystem, and comfortable with price movements, using LINK on Betida can be a natural extension of your overall crypto strategy.
