If you enable link tracking (which IS enabled by default), links in your email will be modified when the email campaign is sent. For Pinpointe to track your email links, the actual link is replaced with a link to the mypinpointe.com site. When a link is clicked, the recipient’s browser is initially sent to this location, where Pinpointe registers the click, and then instantly redirects the recipient to the final URL.  

You can make the link less visible by setting your email links up like so:

<a href="%%confirmlink%%">Click here to confirm</a>

This will hide your URL from showing in your HTML emails.