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1inch Review

Last Updated on July 1, 2024

James Headshot
Written by
Adam Headshot
Edited by
1inch logo
3.77
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit 1inch

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

1inch stands out in the decentralized exchange aggregator space with its competitive rates and dedication to user satisfaction. Their innovative platform combines offerings from various exchanges for an engaging yet cost-effective trading experience.

For those looking to elevate their trading game or find a trusted crypto partner, 1inch may be the answer. The platform has become quite popular among proficient traders who regard it as their preferred choice for exchanging digital currencies.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

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Pros

  • Offers best rates by aggregating prices from multiple exchanges
  • Minimizes slippage for users through its Pathfinder algorithm
  • Provides high liquidity by pooling various liquidity sources
  • Supports a wide range of ERC-20 tokens and other cryptocurrencies
  • Decentralized and non-custodial, enhancing security and user control
  • Compared to centralized exchanges, 1inch has a very effective tool for handling slippage
  • Compatible with different wallets

Cons

  • Complex interface that may not be beginner-friendly
  • Transaction fees can be relatively high during network congestion
  • Requires a good understanding of DeFi and wallet usage
  • Limited fiat support, complicating the process for fiat-to-crypto transactions
  • Dependent on the Ethereum network, which can lead to high gas fees

Quick Summary

Headquarters Location Tortola, British Virgin Islands
Fiat Currencies Supported (through third party apps) USD, AUD, GBP, CAD, EUR + 40 others
Total Supported Cryptocurrencies 1000+
Trading Fees 0%
Deposit Methods Cryptocurrency, Banxa, MoonPay, Transak, Mercuryo, Sardine, Wyre
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

1inch is a decentralized exchange aggregator that enhances trading efficiency and protects users’ funds. It consolidates liquidity from multiple exchanges to provide users with the most competitive prices for their trades while striving to keep transaction costs low.

1inch homepage

The services provided by 1inch extend beyond access to the exchange. They also offer various features to help avoid the common problems encountered within decentralized finance (DeFi). On the other hand, the 1inch app allows for easy storage and trading of assets while providing insights into various tokens available on the market.

The platform stands out as a crypto exchange because of its practical trading experience, security standards, and customer support.

About 1inch

Sergej Kunz and Anton Bukov, the founders of 1inch, launched into the crypto scene with a vision to seamlessly connect the patchwork of decentralized exchanges. By harnessing DEX aggregation technology, 1inch consolidates various sources of liquidity to present users with enhanced cryptocurrency exchange rates. This innovation liberates users from being tied to the offerings of any single exchange by drawing on optimal rates available across the crypto market.

1inch excels at managing a user’s standard tokens within their wallet, maximizing each transaction to achieve the most advantageous result. Also integral to this platform is the neatly designed 1inch wallet, which safeguards assets and ensures speedy transactions.

1inch features

1inch has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram and YouTube.

1inch has a mobile app on both the Apple App Store and Google Play.

1inch Supported Cryptocurrencies

Cryptocurrency thrives on variety, and the 1inch exchange is at the forefront with its support for multiple digital assets.

By providing access to 1000+ cryptocurrencies across platforms, 1inch ensures users have uninterrupted access to optimal cryptocurrency exchange rates. The exchange enables individuals to purchase various crypto assets or get into the latest offerings in coins and currencies within the market.

Thanks to its adaptability, 1inch is a good entry point for traders. This adaptability shines through with 1inch’s capability of incorporating emerging crypto assets. It empowers users by permitting them to integrate new ERC-20 tokens easily.

Although synthetic versions are available for specific non-Ethereum-based tokens, user interest is kept by the platform’s continuous addition of features.

Trading Experience

When trading on 1inch, users enjoy various features customized for their trading journey. The platform has liquidity pooled from various respected networks and an algorithm dedicated to finding the best swap rates.

Seamless Swap Experience

1inch streamlines the DeFi space’s complex state with an interface designed for user accessibility.

Whether you’re just dipping your toes into decentralized exchanges or are a veteran trader, this platform has something to offer: beginners can benefit from a simple mode that eases them into trading, while more experienced users can take advantage of the classic mode to gain access to advanced features and secure better swap rates.

This approach ensures that everyone, regardless of their level of trading experience, has access to the most advantageous exchange deals.

Advanced Trading with Limit Orders

Regarding the platform’s more complex capabilities, 1inch accommodates the more demanding requirements of seasoned traders by offering limit orders. This functionality permits traders to determine an exact price point at which they desire their trade to be executed, guaranteeing that trades are conducted strictly according to their specifications.

Limit orders are crucial instruments compatible with elaborate trading tactics, providing traders with the leverage required to exploit market movements carefully.

Integrated Wallet Services

The 1inch Wallet is a comprehensive service that goes beyond simply storing crypto assets. This non-custodial wallet ensures your assets are safely managed, offering confidence as you engage with the decentralized exchange aggregator.

Made for supporters of decentralized finance, the 1inch Wallet presents an assortment of functionalities, including NFT storage and personalizable interface options alongside a native Web3 browser. It supports well-known wallets like Metamask, Ledger, and Wallet Connect on the Ethereum network.

The versatility and strength of 1inch’s wallet services ensure they accommodate diverse user preferences while merging with current networks and services.

1inch exchange marketing

1inch Fees

Minimizing trading expenses is important for traders, and 1inch has prioritized lowering these costs while ensuring the quality of service remains high. The platform requires users to cover the gas and transaction fees using various exchanges.

1inch sets itself apart by not charging extra fees in addition to those necessary for trades or when funds are transferred into or out of the user’s 1inch wallet. This is a major point of difference for the exchange since it has the lowest fees possible.

Type Fee
Trading Fee 0%

Security - Is 1inch Safe?

Security is of utmost importance when managing digital assets. 1inch understands this need and has instituted a powerful system to safeguard its users. The platform’s security measures include thorough audits of its smart contracts by respected security firms like OpenZeppelin and Consensys Diligence and a high level of security assurance.

In addition to audits, 1inch’s non-upgradeable smart contracts add an extra layer of security, preventing unauthorized changes that could lead to breaches. Moreover, SSL encryption technology guarantees the security of transactions and sensitive information. And finally, permissionless transactions allow users to trade without providing personal information, reducing the risk of data breaches.

Still, users are encouraged to take proactive steps to complement the platform’s security offerings, such as ensuring their wallet passphrase is safe and enabling two-factor authentication.

1inch Customer Support

Should you encounter difficulties or require information while engaging with 1inch, its customer support is available to help.

The customer service representatives are prepared to provide assistance and advice. Whether you have an inquiry regarding the functionality of the 1inch wallet or have questions about executing a crypto transaction, assistance is simply one message away.

Committed to forging strong communication channels with their users, people can connect via social media for updates and additional assistance.

1inch support

1inch Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

Mobile Trading with the 1inch App

Trading on the go has become an essential tool for everyone. The 1inch app meets this demand by delivering a complete set of trading functions in a user-friendly interface (like its web counterpart).

Users with iOS or Android devices can access core features and swap crypto tokens swiftly through the app.

For those new to cryptocurrency, there may be an initial learning curve when setting up the app. However, once you get the hang of it, you’ll enjoy mobile trading with 1inch.

How to Sign Up on 1inch

  1. Create Account - Visit the 1inch website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the methods listed below. Remember this exchange only supports depositing fiat currencies through third party apps it supports.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Cryptocurrency
  • Banxa
  • MoonPay
  • Transak
  • Mercuryo
  • Sardine
  • Wyre

1inch Alternatives

OKX logo

OKX

3.57
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
354+

Trading Fees
0.08% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX
Bancor logo

Bancor

3.84
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
100+

Trading Fees
0.1%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 70 others

Visit Bancor
IDEX logo

IDEX

3.88
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
1000+

Trading Fees
0.01% - 0.05%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 30 others

Visit IDEX

Final Thoughts

1inch demonstrates what a decentralized exchange aggregator should aspire to be.

Its impressive blend of trading efficiency, strong security measures, and responsive customer support shows that 1inch has what it takes to meet the needs of both novice and seasoned traders. With its innovative technology, competitive fees, and commitment to community governance, 1inch has positioned itself as a leader in the DeFi space.

Joining 1inch means engaging with a platform that prioritizes user experience, asset security, and market agility. Whether through its seamless trading experience, full-featured mobile app, or participative liquidity protocol, 1inch continues to demonstrate its avid support of cryptocurrency.

1inch FAQs

The 1inch Wallet operates as a decentralized wallet that allows users to interact directly with decentralized finance (DeFi) services. It typically integrates various DeFi protocols and supports token swaps, providing users with access to liquidity from different decentralized exchanges.

The wallet is designed to help users find the best trading routes and prices by aggregating data across the DeFi space.

1inch is restricted in the US because it isn’t licensed. US laws and regulations are often quite thorough, and many exchanges choose not to operate in the region. Decentralized finance platforms, in particular, operate in a complex legal environment and must adhere to a large number of regulations, which affects their availability in certain regions.

The yield of 1inch staking can vary based on multiple factors, including the amount of liquidity in the pools, the volume of the trades, and general market conditions. Staking yields are not fixed and can fluctuate over time.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: