1 Inch

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What is 1 Inch ?

1inch Network is an assimilation of decentralized protocols with the fastest and most protected operations in the Defi space. The platform also has its own cryptocurrency 1INCH, which is traded on a large number of cryptocurrency exchanges.

About 1inch Network

1inch Network was founded in 2019 by Sergej Kunz and Anton Bukov while they were participating in the ETHGlobal New York Hackathon. The duo had earlier met during a live stream of Kunz’s YouTube channel and began entering hackathons together.

The current 1inch price is 47.99

Primary features of 1 Inch

1inch Network provides the most innovative and flexible limit-order functionality in Defi.
Its liquidity protocol is a next-generation Automated Market Maker (AMM).
1inch Network has swept a market cap of more than $700 Million.
1inch Network (1INCH) is a P2P cryptocurrency that provides easy exchange of funds.

Is 1 Inch a promising cryptocurrency?

The Aggregation Protocol of 1inch Network facilitates cost-efficient and secure atomic transactions by utilizing a wide range of protocols and performing argument validation and execution verification.
If you are looking to buy 1inch Network, then you can check for third-party cryptocurrency exchanges like Coinswitch .

How to use 1 Inch?

1inch Network offers a wide range of solutions to anyone using its services. Starting as Aggregation Protocol, Liquidity protocol, Limit order protocol, etc. You can use 1inch Network (1INCH) in the following ways:
Liquidity Protocol: It is a next-generation automated market maker that protects users from front-running attacks and offers capital efficiency to liquidity providers.
Online Payments: 1inch Network (1INCH) is accepted at thousands of stores worldwide, both offline & online.
International Transfers: 1inch Network could be easily transferred to family and friends that are sitting in any part of the world.
Investment: 1inch Network has shown positive returns in the past 1 year.

Pros & Cons of 1 Inch

Pros

Staking: Users holding 1INCH can stake their tokens for earning passive rewards.
1inch Wallet: 1inch Network has its own wallet that provides an easy interface with secure storing, transaction, and staking capabilities.
Open-source: Due to the open-source nature of 1inch Network, changes can be easily implemented to adapt to the market.
DAO Model: 1inch Network has its own DAO (Decentralized Autonomous Organization) that governs the ecosystem, enabling 1INCH stakers to vote for key protocol parameters and take part in the network’s governance.

Cons

Deposit methods: The deposit methods for trading cryptocurrencies are scarce, which discourages many people from using the platform.
Not Beginner-friendly: The platform is not beginner-friendly and it will be difficult for a beginner because of the nature of its operation.

Trade 1 Inch on CoinSwitch

You can invest and trade with just Rs.100.
Allows instant withdrawal and deposit directly to bank accounts.
Trade-in 1inch Network (1inch Network) at zero fees.
Intuitive and simple UI.
Easily manage your transactions and your portfolio.

1 Inch ICO summary

There is no available information on the 1inch Network’s Initial Coin Offering (ICO), but the platform was able to raise a $2.8 Million funding raise from Binance Labs, Galaxy Digital, etc. The Platform was able to raise more than $12 Million in Series A funding.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.