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Buy 1inch in Ireland
1inch
1INCH
Overview
What is 1inch?
How to buy 1inch: Why do investors like this token? In a nutshell, 1inch is like a smart shopping assistant for traders. Imagine you’re shopping online, and you want to buy a product. Instead of going to just one store, you use a tool to check multiple websites to find competitive deals. 1inch does something similar but for crypto trading.
Here’s how it works.
Comparison shopping
compares cryptocurrency prices across several popular exchanges in the decentralised exchange (DEX) ecosystem.
It looks at different platforms to find competitive rates for the crypto swaps you want to make.
Just like a coupon aggregator finds competitive deals for consumers, 1inch finds competitive rates for traders.
No middleman
1inch is a non-custodial exchange, which means it doesn’t hold your funds. You need a third-party wallet to use its services.
Wallets store the keys (codes) that let you control your crypto coins.
How it helps traders
If you’re trading one crypto for another (say, swapping for ), 1inch checks various exchanges to get you a competitive rate.
It might even split your swap across different exchanges to give you an even better deal. Plus, you can set a limit order, specifying the price you want to pay, and 1inch will execute the trade only if the currency reaches that rate.
Why would investors buy 1inch?
Best rates
Investors buy it because it finds competitive rates for their trades.
Competitive fees means possible investor returns, and the protocol helps you secure competitive fees.
No fees
Unlike some exchanges, 1inch doesn’t charge additional fees for using its services. No withdrawal or deposit fees either.
Huge range of cryptocurrencies
1inch supports a wide variety of cryptocurrencies. Whether you’re into Bitcoin, Ethereum, or lesser-known altcoins, you'll likely benefit from being involved with the platform.
Liquidity mining and staking
Token holders can use it for trading and paying gas fees.
They can also participate in liquidity mining (earning rewards by contributing to the 1inch liquidity pool) and staking.
Conclusion: Why investors buy 1inch
In summary, 1inch is like your crypto-savvy friend who always knows where to find competitive deals. It is a tool that could optimise crypto trading.
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Buy 1inch using a bank transfer. Get cash in your account with SEPA. Convert crypto-to-crypto with a single click.How to buy 1inch with CoinJar
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Frequently asked questions
What Is 1inch?
It is a decentralised exchange (DEX) aggregator. It helps crypto traders find the best rates and lowest fees by comparing prices across various exchanges in the DeFi space. Think of it as a smart shopping assistant for crypto swaps!
How does 1inch work?
The platform shops around different DEX platforms to find the best rates for your trades. It might split your swap across multiple exchanges to give you an even better deal. You can also set limit orders to buy or sell at specific prices.
What is a decentralised exchange (DEX)?
A DEX is a platform where users can trade cryptocurrencies directly with each other without a central authority. Unlike traditional exchanges, DEXs don’t rely on intermediaries.
What Is a liquidity protocol?
A liquidity protocol is used to aggregate liquidity from various DEXs. This helps prevent order slippage and ensures better execution of trades.
What Is a governance and utility token?
The network has its own token called “1INCH.”
It serves two purposes:
Governance: Token holders can vote on changes within the ecosystem.
Utility: You can use 1INCH for trading and paying gas fees.
Which blockchains does 1inch support?
It operates on several blockchains, including Ethereum and Polygon (formerly Matic).
What are smart contracts?
Smart contracts are self-executing agreements written in code.
What Is fusion mode?
Fusion mode combines liquidity from different DEXs to optimise swaps. It ensures better rates and lower fees for users.
What Is the 1inch Network?
This Network includes all the DEXs and liquidity sources integrated with 1inch. It’s like a vast network of interconnected crypto markets.
How can I buy 1inch?
Sign up to CoinJar, prove your identity (noting the regulatory criteria noted above), and then choose your crypto of choice.
What is the 1inch wallet?
It is a versatile tool that allows users to manage their crypto assets across different blockchains. It’s like having a digital wallet that supports various networks. The supported blockchains are Ethereum, BNB Chain, Polygon, Avalanche, Gnosis Chain, Fantom, Optimistic Ethereum, Arbitrum, Klaytn, Aurora.
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