Buy 1inch with a credit card
You can buy 1INCH for USD and other fiat currencies here at SwapSpace! We provide an easy way to do that via one of our partners, such as Mercuryo, Guardarian, or Simplex, with a few simple steps right on this page. You can also look at 1inch price dynamics and history, get some answers to your questions, and find some useful links to read more about what is 1INCH.
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1inch live price chart
1INCH price can be volatile. You can see the history of price changes in the cryptocurrency price chart below to help you make the best decision while considering buying crypto.
1inch (1INCH) is a decentralized cryptocurrency that emerged in 2019 as a leading player in the world of decentralized finance (DeFi). It is well-known for its unique capacity to source the most advantageous trading rates available to users on a range of decentralized exchanges (DEXes). This innovative approach has established 1inch as a significant player in the DeFi landscape.
1inch was founded by Anton Bukov and Sergej Kunz. The project was created to address some of the inefficiencies and challenges associated with trading cryptocurrencies on decentralized exchanges (DEXs). The founders recognized the need for a solution that could aggregate liquidity from multiple DEXs to provide users with the best possible trading prices. This would help traders achieve better rates and improve the overall trading experience in the decentralized finance (DeFi) space.
1inch operates as both a DEX aggregator and an automated market maker (AMM), employing sophisticated algorithms to split user orders and secure the best available prices. This revolutionary approach eliminates the need for traders to manually scour multiple DEXes in search of optimal rates, simplifying and streamlining the trading process.
1inch quickly gained popularity within the DeFi community, and it continues to evolve and expand its services to provide a comprehensive and efficient DeFi trading experience for its users.
The 1inch platform is underpinned by a commitment to security, with smart contracts undergoing thorough audits to ensure the safety of user funds and transactions. Users maintain full control of their assets in a non-custodial environment, mitigating the risks often associated with centralized exchanges.
The DeFi community plays a vital role in identifying and reporting potential security vulnerabilities. Many security concerns are discovered and disclosed by security researchers and community members. This collaborative approach helps ensure that issues are promptly addressed and resolved.
Some DeFi protocols, liquidity pools, and yield farming strategies integrated with 1inch may offer insurance coverage. Users can opt for protocols that provide insurance to protect against potential losses due to smart contract vulnerabilities.
The 1inch development team and the broader community continuously monitor the platform for any anomalies or potential security threats. This proactive approach allows for swift responses to emerging issues, further bolstering the platform's security.
Boasting a vibrant community and open-source ethos, 1inch continuously adapts to the ever-evolving DeFi landscape. The project's expansion to other blockchains, including Binance Smart Chain and Polygon, has broadened its reach, offering a comprehensive and cross-chain DeFi experience.
1inch had formed several notable partnerships and integrations within the decentralized finance (DeFi) ecosystem. These partnerships aimed to enhance the platform's functionality and expand its reach across various blockchain networks. For instance, 1inch is integrated with Kyber Network, a decentralized liquidity protocol. This partnership allowed 1inch to access Kyber's liquidity, providing users with a wider range of trading options and competitive rates.
Uniswap, one of the most popular decentralized exchanges, was also integrated with 1inch. This integration enabled 1inch users to access Uniswap's liquidity and swap tokens directly from the 1inch platform. Mooniswap is another decentralized exchange aggregator. The partnership between 1inch and Mooniswap aimed to enhance liquidity aggregation and provide users with better trading options.
The native 1INCH token plays a central role within the ecosystem. The asset functions as both the governance and utility token within the 1inch Network. Token holders have the opportunity to actively engage in the platform's decentralized autonomous organization (DAO) governance by staking their 1INCH tokens. This participation grants them a voice in decisions affecting the 1inch Network, including the management of the 1inch DAO Treasury.
1INCH holders can exercise their utility by selecting resolvers and earning a portion of the fees generated by these resolvers. This dual role of the 1INCH token empowers users to contribute to the network's direction while also benefiting from its utility features.
With the introduction of 1inch Fusion, users have an additional way to utilize their 1INCH tokens. They can stake their tokens to acquire Unicorn Power (UP), which subsequently can be delegated to any 1inch Fusion Resolver. By doing so, users can initiate the process of receiving rewards from these resolvers. When staking, users have the flexibility to set a custom or choose from preset lock periods. It's important to note that staked 1INCH tokens are subject to penalties if users attempt to unstake or withdraw them before the designated lock period expires. This mechanism is designed to incentivize long-term commitment and support for the 1inch Network.
The 1INCH token has a total supply of 1,500,000,000 1INCH, and as of November 3, 2023, the circulating supply is 1,043,894,381 1INCH.
Average Fees on 1inch
The fees associated with using 1inch can vary depending on several factors, including the specific actions taken by users and the current network conditions. Gas fees can fluctuate significantly based on the network's congestion and the complexity of the transactions.
When making trades on 1inch, users have the option to set a slippage tolerance level. This parameter allows for price fluctuations during the trade execution. While not a direct fee, the slippage tolerance can impact the final cost of a trade. Higher slippage tolerance might result in a more favorable execution but could also lead to a slightly higher cost.
If users choose to provide liquidity to pools on 1inch, they may earn fees from their contributions. Conversely, when withdrawing liquidity, there may be associated fees.
The cost of using 1inch can be affected by the current state of the Ethereum network, as gas fees are a variable expense.
1INCH Token Wallets
You can store 1inch (1INCH) tokens in a variety of wallets, including MetaMask, MyEtherWallet, Ledger Nano S or Ledger Nano X, Trezor, Trust Wallet, Coinbase Wallet, Atomic Wallet, Exodus, etc.
Where to Buy 1inch Tokens?
The 1INCH tokens can be purchased from a variety of cryptocurrency exchanges, such as Kraken, Coinbase, Binance, Bittrex, Huobi, OKEx, Gate.io, Uniswap, etc. You can also buy crypto with a credit or debit card on SwapSpace: read our instruction on how to buy 1INCH below.
How to buy 1INCH on SwapSpace
On this page, we put USD in the “You send” and 1INCH in the “You get” sections in the widget. USD is the default, but you can choose your preferred fiat currency. Put in the amount of fiat you want to spend. Next, press the ”View offers” button and choose a provider.
Fill in the “Enter the recipient address” field with the destination 1inch address. Check the information carefully and click the “Next” button. After reading the special terms and conditions in the next window, click “Next” again.
At this point, you will either see our partner’s widget or be redirected to another page, depending on the chosen provider. You will be asked to verify your identity, as this is standard practice for the services that work with fiat money. Follow the provider’s instructions on the screen.
After completing the KYC procedure, fill in your credit card information. At this point, everything is in place and your transaction will start.
Wait for the transaction to process. You’ll see a message when it’s completed. A window with your transaction details will also appear; from there, you can also create another crypto-fiat exchange.
