A URL, which stands for Uniform or Universal Resource Locator, is a fundamental component of the internet. It serves as a gateway to websites and online files, simplifying the process of navigating the online resources, making information and resources readily accessible and saving valuable time and effort of learners. 

Steps to create a URL link:

1. Turn editing on.

2. Choose URL from the activity chooser and give it a name and description if necessary.

3. Input the web address in External URL, type the web address of the site you want to link to.

4. In Appearance, choose how you want your URL to display, using the ? help icon for more information.

5. Expand the other settings to specify what you require and then select "Save and return" to course.