how to buy 1inch

1Inch (1INCH) is a platform that will help you optimize trades across hundreds of decentralized exchanges. Through the 1Inch Network, traders can access multiple assets without encountering problems or slowdowns. Due to the popularity of 1Inch, many users have started asking questions like “how to buy 1Inch” and “where to buy 1Inch.”

If you want to buy 1INCH but don’t know where to start, you’ve come to the right place. This article will cover the basic steps of buying 1INCH, as well as other important topics.

1Inch (1INCH) Buying Guide

Step 1: Find An Exchange That Supports 1INCH

To start buying 1INCH, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support 1INCH.

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

  • 500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.075%*-0.1%*
  • Sign-up bonus: 10% reduced trading fees*
  • Available in Europe, Asia, Oceania, Africa
  • 1000+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
  • Sign-up bonus : Up to $500 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa
  • 1000+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
  • 10% reduced trading fees & up to $170 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying 1INCH, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy 1INCH Officially?

Learning how to buy 1INCH is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the 1INCH ticker. You can also look directly for 1INCH trading pairs to save time. Afterwards, just enter the amount of the 1INCH tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About 1Inch (1INCH)

The 1Inch Network aims to connect all decentralized apps and systems in one digital space. Moreover, 1Inch offers some essential products for serious traders and liquidity hunters.

Here are the products and features of 1Inch Network:

  • Aggregation protocol – Aggregates liquidity data from many DEXs
  • Limit order protocol – DeFi limit order functionality for maximizing trades
  • Liquidity protocol – An advanced AMM that offers capital efficiency to liquidity providers
  • 1Inch Earn – A protocol that earns interest over time
  • 1Inch API – A helpful algorithm for initiating asset discovery swaps
  • 1Inch Grant Program – An initiative that fosters the growth of the 1Inch network

1Inch Network gathers liquidity sources from the most reliable and powerful chains such as Ethereum, Binance Smart Chain, Avalanche, Optimism, and Gnosis. Such a capability led to 1Inch’s explosive early growth and unparalleled scalability.

How Does 1INCH Work?

1INCH, the primary token of 1Inch Network, can be used for trading, governance, and on-chain utilities. If you have a 1INCH token, you’re eligible for voting rights within the 1Inch ecosystem. You can also use the token to achieve high connectivity in any of 1Inch’s connected chains and DeFi apps.

What Makes 1Inch (1INCH) Unique?

1Inch is unique because it offers diverse liquidity options with higher yield rewards. Liquidity hunters and investors can also benefit from 1Inch’s multi-chain functionality.

Another advantage of 1Inch Network is its advanced API settings and connectivity. DeFi builders can use the 1Inch API to establish data-focused systems meant to facilitate trades.  

Using the 1Inch Network for asset swapping is also a smart move. The network is governed by strong systems, ensuring the overall security of established trades. Users don’t need to worry about losing their funds in 1Inch Network.

Currently, more than 160 liquidity sources are integrated into 1Inch. All of these liquidity sources and yield farms are reliable and thoroughly screened by the 1Inch system.

Who Are the Founders of 1Inch (1INCH)?

The founders of 1Inch Network (1INCH) are Sergej Kunz and Anton Bukov. These individuals have attended several hackathons, and they have collective experience in software development, tech consultancy, DevOps, and cybersecurity.

What Are the Use Cases of 1Inch (1INCH)?

1Inch Network (1INCH)’s use cases are mostly related to liquidity maximization, asset tracking, and general profitability. Understanding 1INCH’s use cases will help you determine if the token is aligned with your trading preferences.

Here are the common use cases of 1INCH:

  • Speculative trading
  • Long-term investment
  • DeFi smart contract integration
  • Liquidity hunting and tracking
  • Liquidity pool creation
  • Affordable asset swapping
  • Portfolio growth

Who Builds on 1Inch (1INCH)?

1Inch Network (1INCH) is meant for yield hunters, traders, and investors who are looking for a simple ‘all-in-one’ suite that can link to dozens of liquidity pools. Liquidity participants can also use the 1Inch Network to gain various rewards over time.

Official website: https://1inch.io/

Essential Points of the 1Inch (1INCH) Whitepaper

The 1Inch Whitepaper discussed the general framework and main features of the 1Inch network. Additionally, the paper highlighted the blockchain networks linked to 1inch.    

These are the strong points of the 1Inch (1INCH) Whitepaper:

  • 1Inch products (aggregation protocol, limit order, liquidity, 1Inch Earn)
  • 1INCH tokenomics
  • Grant program and benefits
  • 1INCH governance system
  • Spot price aggregation and mechanics
  • Open-source documentation

The Best Cryptocurrency Wallet for 1INCH

After knowing how to buy 1INCH, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for 1INCH?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of 1INCH wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade 1INCH right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy 1INCH, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for 1Inch (1INCH)

Do you want to learn more about 1Inch (1INCH) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about 1Inch (1INCH)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works
  • Up-to-date cryptocurrency news and developments

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