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How to buy 1inch (1INCH) in Australia
Learn how to buy 1inch (1INCH) on 20+ crypto exchanges in our step-by-step guide.
1inch (1INCH) is the 167th largest cryptocurrency by market cap, valued at US$519,432,715.
1inch is a highly volatile asset capable of major price swings in a single day. Today 1INCH is trading for $0.449687 USD, which is lower than yesterday's trading price of $0.4686252231 USD. Over the past year, 1inch's price has seen a decrease of -9%.
So before you buy 1inch, make sure you understand these unique risks as well as its legal and tax status here in Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy 1inch.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy 1inch in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy 1inch is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
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Buy 1inch
You can now exchange your funds for 1inch. On beginner-friendly exchanges, this is as simple as entering the AUD or 1INCH amount you want to purchase and clicking "buy".
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Secure your 1inch
Consider transferring your 1INCH to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy 1inch in Australia
Find 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 exchange.
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How we keep this 1inch guide up-to-date
- 1INCH price data is regularly updated through data feeds so you always have the latest information.
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.
How do I find the best places to buy 1inch?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy 1inch?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading 1inch.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing 1INCH with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy 1inch?
Once you've created an account, you will need to deposit funds to buy 1INCH with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy 1INCH:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase 1INCH by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for 1INCH on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy 1inch?
The easiest way to buy 1INCH is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying 1INCH, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of 1inch has been performing recently.
Best 1inch wallets to store your 1INCH
You can keep your 1INCH on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your 1INCH below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
Recent 1inch developments
December 2021: 1inch has upgraded its Limit Order Protocol to V2, minimising fees and allowing for gasless order placing.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is 1inch a good investment?
Cryptocurrencies 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.
Today's 1inch price versus ATH
Compare today's price of 1inch ($0.449687 USD) against its all-time-high price of $8.65 USD on 27 October 2021. The closer the bar is to 100%, the closer 1INCH is to reaching its ATH again.
1inch's price: $0.449687 USD
ATH date: October 27, 2021
ATH date: October 27, 2021
5.20%
1inch ATH: $8.65 USD
How to trade, convert or sell 1inch
You can convert or sell 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 convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of 1INCH you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of 1inch.
- Complete your transaction and move your 1INCH to a crypto wallet for storage.
How to buy other cryptos
Disclaimer: Cryptocurrencies, including 1inch, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of 1INCH is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the 1inch or any other cryptocurrency discussed.
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