How to buy 1inch (1INCH) in Australia
A beginner's guide to buying and selling 1INCH in Australia.
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How to buy 1inch
Look for an exchange that supports both fiat and cryptocurrency to simplify buying 1inch.
- Open an account on an exchange that supports 1INCH.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy 1inch.
- Buy 1inch.
Complete your 1inch purchase and then find the best wallet to store 1INCH.
What is 1inch?
1INCH is the native token of the 1INCH decentralised exchange aggregation platform, which pools the liquidity of multiple decentralised exchanges in order to give users the best rates and liquidity from a single interface. The matching engine gives users the option to either choose the best exchange rate for a given trading-pair or to opt for the lowest gas fees possible. The 1INCH token is used for governance of the 1INCH ecosystem, which also includes Mooniswap, and has been progressively airdropped to users of 1INCH, Mooniswap and even Uniswap. The value of the token is closely associated with the use of 1INCH and Mooniswap, as it permits holders to propose and vote on changes to both platforms.
1inch (1INCH) is the 119th largest cryptocurrency in the world by market cap, valued at $485,255,815. The current price of 1inch is $2.79, which is 3.875% higher than yesterday. Prices have ranged between $2.88 and $2.63 over the past 24 hours. All prices are listed in US dollars and accurate as of June 14, 2021 01:06 UTC.
Where to buy 1inchFind an exchange to buy, sell and trade 1INCH by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
1inch at a glance
|Total 1INCH supply||1,500,000,000|
|All time high||US$7.84|
|Notable team members||Sergej Kunz, Anton Bukov|
|Partnerships||Ren, TRON, xBTC, Hacken|
|Industry||Decentralised exchange aggregator|
1inch price performance over time
How to sell 1inch
You can cash out your 1INCH with the same exchange you bought it through:
- Sign in to the exchange you have 1INCH on.
If you store your 1inch in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of 1INCH you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of 1inch.
What to consider when buying 1inchCryptocurrencies are highly speculative assets that come with a range of risks. Additionally, buyers of 1INCH tokens may want to consider the following:
- Copycats: Because 1INCH is open-source, potential competitors can copy the code-base and create their own version of 1INCH with very little effort. This could lead to a loss in market share for 1INCH, which could affect demand for the token as a result. That being said, almost all decentralized exchanges are open source, so the risk is not unique to 1INCH.
- Governance: 1INCH is managed by a Decentralized Autonomous Organization (DAO), which means that token holders have control over various aspects of the platform, including fees, liquidity provider rewards and even rewards for participating in the act of governance itself. Keep in mind that while DAOs are democratic, voting power is determined by the number of tokens a voting address holds. For instance, at the time of writing (March 2021), a single address held 18% of the voting power.
- Token supply: 1INCH launched on December 26 2020, distributing 6% of the total token supply to eligible addresses, with a further 0.5% over the following two weeks. The remaining tokens are controlled by the DAO and distributed in various ways, with the maximum supply of tokens sitting at 1.5 billion, although this could be changed in the future. At the time of writing, the DAO plans to distribute tokens via the following mechanisms such as rewards, incentives, wages, payments and development.
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