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What is ChainLink?

  • Chainlink (LINK) is a cryptocurrency and an Ethereum token that powers the Chainlink DeFi network. This network enables smart contracts on Ethereum to securely interact with external data sources, APIs, and payment systems.

What is a ChainLink Loan?

  • A ChainLink loan is the loan borrowed against a ChainLink coin as collateral. Here’s how it works: you bring some ChainLink crypto to a lending service, leave it there temporarily as collateral, and get an amount of a certain cryptocurrency in return. On CoinRabbit ChainLink lending, we lend stablecoins such as Tether USDT, USD Coin and BUSD.

Learn more about Chainlink Token Loans

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FAQ

Why should you consider ChainLink loans?IconPlus
The cryptocurrency believers can use ChainLink coins as collateral in order to get the loan for different investment purposes. Here are some ChainLink token straight points that proof its potential:

ChainLink has its own a tamper-proof network created by a massive community of developers, researchers, and users;

The network provides data and information from off-blockchain sources to on-blockchain smart contracts via oracles;

ChainLink can also be used for a verifiable random function.
How does ChainLink lending work?IconPlus
ChainLink lending is a service that issues loans with ChainLink token collateral for a yearly interest. The interest can vary from 10% up to 18% and more. There is no credit history and no credit checks — the only way you prove your credibility is the collateral you’re ready to provide. The collateral is safely stored in a cold wallet making sure you will repay your ChainLink loan.
How to loan ChainLink?IconPlus
Loaning against ChainLink crypto at CoinRabbit requires only a few minutes of your time. First of all, navigate to the CoinRabbit website. Choose the amount of ChainLink coins you would like to use as collateral and loan currency (USDT/USDC/BUSD) in the calculator section. Confirm your stablecoin wallet address and a phone number. Finally, send your ChainLink collateral amount to receive the chosen stablecoin loan. Wait for a few minutes for everything to be processed. Then receive your loan in 15 minutes.
How quickly can I get a crypto loan? How quickly will you refund me the collateral?IconPlus
Usually, getting an instant loan takes no longer than 15 minutes. Since there are no credit checks, it’s that fast. The longest part of getting a loan is waiting for the confirmation of your ChainLink transaction. The collateral will be refunded instantly whenever you come back to repay your loan. You can do it when you want: in a month, in a year, or in many years — our loan period is limitless. Enjoy your money as long as you need.
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