BTSE Exchange has assimilated the LINK token in its trading ecosystem, as per an announcement made on August 26, 2020. The LINK/USD pair is set to roll out on its spot market and wallet support at 3 PM UTC on March 31.
According to BTSE, the platform plans on bridging the gap between the traditional financial sector and the growing digital asset market. As such, listing LINK on the exchange’s network is an added advantage for its traders looking forward to new trading opportunities.
LINK is a native cryptocurrency powering and operating on Chainlink’s ecosystem. Chainlink is best known for its oracles that provide smart contracts residing on the blockchain with unlimited access to external data. By leveraging oracles, Chainlink enables close examination of the external data before passing them over to a smart contract.
To fetch the data, Chainlink employs two components dubbed on-chains and off-chains, whereby the on-chain collection monitors an oracle’s reliability, receives offers from Oracle providers, and summarizes the collected data from oracle suppliers. Off-chain components majorly contain nodes in the Ethereum network that process and finalize the retrieved data through the Chainlink Core software.
Therefore, the LINK token is used to remunerate these nodes acquiring the data meant for smart contracts. At the moment, the LINK token trades at $26.80 with more growth expected as the coin stands to gain more with the LINK spot and wallet support on BTSE.
Merits of the Listing
The BTSE platform is part of a broader system offering financial services ranging from lending, and asset management to exchange services. As LINK joins the bandwagon of assets on the exchange, it will harness various functionalities to boost a user’s trading experience.
One such feature includes BTSE multi-currency spot trading, which enables traders to utilize a single order book and make use of a shared liquidity pool. In turn, the feature encourages fixed pricing and higher liquidity levels emanating from more trading participation.
Users can effectively manage their digital assets and contracts with the Linear Futures, which classifies price momentums into profit-and-loss, therefore, eliminating any complex computations. Since cryptocurrencies are extremely volatile digital assets, traders on BTSE Exchange can make the most out of these unstable currencies through the Superior Margin Control feature.
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