1Inch is a decentralised exchange aggregator that allows users to compare prices across multiple platforms and chains and swap one crypto for another for a small fee.
1inch (1INCH) is the native token for decentralised exchange 1Inch and works on both Ethereum and the Binance Smart Chain.
If you're looking to buy 1INCH, the native token that powers the 1inch exchange, this guide is for you. In it, you’ll also further analysis of the token, its ecosystem and how it works.
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3 steps to buy 1Inch
Step 1: Purchase ETH from broker or exchange
Select the broker or cryptocurrency exchange you'd like to use. Make sure you’ve registered an account, then locate Ethereum using the exchange's search bar. From there, decide how much ETH you’d like to get, your desired payment method and follow the instructions to confirm your purchase.
Step 2: Head over to 1Inch and connect your wallet
Having a Web3 wallet such as MetaMask is vital; this is the only way you can connect to 1Inch and interact with the platform in any meaningful way. Once you’ve navigated to the 1Inch network, click ‘connect wallet’ at the top right-hand corner of the page then follow the prompts from your wallet to complete this process.
Step 3: Exchange your ETH for 1INCH
Before making any swaps, you’ll need to transfer your ETH from the exchange or broker you purchased it with to your Web3 wallet. Every exchange or broker allows you to send cryptocurrency to an external crypto wallet; you just need to know the exact address of your Web3 wallet and be ready to pay any transfer fees.
Once this step is complete, you’ll be able to swap ETH for 1INCH. Enter the amount you’d like to swap, and you’ll see how much 1INCH you'll get in return. There will be some fees associated with this swap, and you’ll again be prompted through your Web3 wallet to confirm and process the transaction.
Where to buy 1Inch
1inch is available on a number of different cryptocurrency brokers and exchanges. We’ve rounded up the best options to consider below. When choosing one of the recommended platforms below to purchase 1nch, think carefully about which best fits your needs as an investor in terms of features, accessibility, and ease of use.
Most Popular
1
Min. Deposit
$10
Promotion
User Score
10
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full regulations list:
CySEC, FCA
Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.
2
Min. Deposit
$1
Promotion
User Score
9.3
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Why buy1INCH?
The 1inch exchange allows users to swap tokens for a small fee. The 1Inch Aggregation Protocol sets the exchange apart by providing aggregation information services to exchange protocols and networks. This allows the platform to verify and secure transactions and support dApps executing contracts on the network.
Users who provide liquidity by lending a pair of tokens are rewarded with 1INCH tokens. This helps the network by having a greater supply of tokens to swap. It also incentivises users to provide liquidity. 1Inch works across multiple chains and employs smart contracts to connect with other decentralised exchanges.
If you believe in the future prosperity of decentralised exchanges including Uniswap, SushiSwap and PancakeSwap, it goes without saying that 1inch, comparable in terms of fees and ease of use, could be a strong performer in the future. Using one convenient interface, aggregators like 1inch save time and effort by comparing multiple swaps. 1Inch also offers advanced features like the ability to set conditional orders, helping users time to market easier.
Where to store your 1inch
You'll want to choose the right crypto wallet to store your newly acquired 1INCH tokens. If you plan on holding onto them for a while, you might want to consider using a hardware wallet. While Web3 wallets are deemed safe, they are more vulnerable to hackers than off-chain wallets. Below are some recommended hardware wallets widely used by crypto enthusiasts.
Using a discovery and routing algorithm, 1inch Network's API identifies the best possible pathways for a token swap, which may be spread among many decentralised exchanges (DEXs) and even inside the same DEX. Therefore, the user receives a greater swap rate than they would have received on any particular DEX.
Staking 1INCH is a straightforward process, and the current Staking APY for 1INCH is about 21.71%. Stakers get 38% of the protocol's fees, which come from ecosystem partnerships and slippage.
According to the official 1inch Medium blog, the project was named in honour of legendary martial artist Bruce Lee. Known for his short yet explosive punches, Lee’s trademark move helped inspire 1inch to create an efficient and powerful service for aggregating swag fees across multiple blockchain platforms.
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