A Complete Guide to 1inch Exchange

 

What is 1inch?

1inch is an open-source Decentralized Finance (DeFi) based DEX aggregator which works out the best cryptocurrency price across various decentralized exchanges and reroutes their customer's trades between those and makes them get the best prices.

1inch exchange is a platform that splits the order to various decentralized exchanges such as UniswapExchange, KyberNetwork, Bancor, and RadarRelay which avoids high prices.

This 1inch exchange platform launched its own governance token, 1INCH token in December 2020.

The 1inch exchange will be the best choice for cryptocurrency traders to get the cryptos at the best price through the process of decentralized exchanges.

1inch Exchange Specification 

Product Name - 1inch Exchange

Founder/CEO - Sergej Kuntz

Founded Year - 2019

Product Type - Decentralized Exchange

Deposit Methods Supported - Cryptocurrency

Supported Cryptocurrency - 200+ cryptos which includes BTC, BCH,LTC,XRP,ETH and more.

Fiat Support - Does not support.

Fee Model - Maker & Taker Model

Transaction Fee - Maker : 0.00% & Taker : 0.00%

Is 1inch Exchange safe to use?

All the platforms that rely on smart contracts have their own risks. 1inch exchange is a non-custodial DEX aggregator, which works using cryptocurrency and smart contracts. 

There are no bugs or breaches spotted in the 1inch exchange to date and still many use 1inch exchange for crypto trading.

Business Benefits of launching DeFi Exchange like 1inch

Listed here are the benefits of creating a DeFi Aggregator like 1inch.

Generation of High ROI

Less Capital Investment

Quick Brand Identification 

Greater Liquidity

No manual power and more.

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