• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Cult Of Money

Cult Of Money

Personal finance for the crypto-curious.

  • About
  • Podcast
  • Contact
  • Cryptocurrency
      • How To Start

      • What Is Cryptocurrency And How To Invest?
      • What Is Bitcoin And How Does It Work?
      • What Is Ethereum And How Does It Work?
      • Most Common Crypto And NFT Scams (And How To Avoid Them)
      • Proof Of Work vs. Proof Of Stake vs. Proof Of History
      • How To Invest In Crypto In Your IRA Or 401k
      • Tools + Resources

      • Best Cryptocurrency Exchanges
      • Best Cryptocurrency Wallets
      • Best Crypto Savings Accounts
      • Best Tax Software For Crypto And NFT Traders
      • Reviews

      • Coinbase Review
      • Gemini Review
      • BlockFi Review
      • Binance Review
      • Hodlnaut Review
      • Ledger Wallet Review
  • DeFi
      • How To Start

      • What Is DeFi?
      • What Is Staking Your Crypto?
      • Centralized vs. Decentralized Exchange
      • Tools + Resources

      • Uniswap Review And How Do Decentralized Exchanges Work?
      • Reviews

  • NFT
      • How To Start

      • What Is An NFT?
      • Tools + Resources

      • Most Popular Play-To-Earn Crypto Games
      • Popular Projects

      • What Are VeeFriends And Are They Worth It?
      • Bored Ape Yacht Club NFTs Are Popular (And Expensive)
      • What Is The Sandbox And How Can You Play?
      • Why Visa Bought A CryptoPunk
  • Investing
      • How To Start

      • Tools + Accounts

      • Reviews

  • Personal Finance
      • Banking

      • Best Bitcoin Rewards Checking Accounts
      • Tools + Resources

      • Tax

      • Income Tax Prep Guide
      • Bookkeeping And Accounting For Crypto And NFTs
Coins

How To Invest In 1inch

By Robert Farrington • November 11, 2021

At The Cult of Money, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners whom we receive compensation from. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. CultOfMoney.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

1inch

At the foundation of the crypto industry are two main types of exchanges - centralized and decentralized. Centralized exchanges are the familiar Coinbase, Binance, and Kraken.

Exchanges belonging to the latter category, such as Pancakeswap, SushiSwap, and Uniswap, are where those who want total autonomy go.

However, decentralized exchanges (DEXs) have always faced one pressing problem, the long battle with low liquidity and high slippage.

That brings us to the 1inch decentralized exchange platform.

Want to skip the reading and just buy 1inch? You can purchase is on Coinbase.


Table of Contents
1inch Aggregation Protocol
What Makes The 1inch Aggregator Protocol Unique?
What Is The 1inch Token?

How To Invest In 1inch
Trading
Staking
Is Investing In 1inch Worth It?

1inch Aggregation Protocol

1inch was created in the 2019 EthNew York Hackathon. 

The founders, Anton Bukov and Serjez Kunz, had long been fascinated by the arbitrage opportunities of the crypto market. 

That attraction, helped by their background in smart contract auditing, spurred the ambition to create a system where users could access the best market prices through arbitrage bots dispersed across various DEXs.  

The result was the creation of the 1inch decentralized exchange aggregation protocol.    

At its launch, the 1inch protocol could link with the following three DEX platforms: Bancor, Kyber, and UniSwap. 

After that, the team launched an improved version along with the 1inch token and a DAO. 

Today, 1inch is connected to over 40 liquidity platforms, including networks like Ox and Balancer.

What Makes The 1inch Aggregator Protocol Unique?

When trade orders are placed on a decentralized exchange for a trading pair with low liquidity, the outcome is usually a sharp increase in the slippage. 

This forces traders to pay higher amounts for the assets they set out to buy. 

An innovative way to get around this problem is to spread such an order across multiple DEXs where the assets are listed so that you can handpick the best market price possible. 

Without an automated solution, the manual implementation of that strategy will be slow and inefficient. 

However, with the 1inch exchange aggregation mechanism, traders can execute all of those steps at a thunderbolt speed in one transaction at a single click.

Thus, 1inch saves investors/traders from the stress of looking for the lowest market prices and fees. You place a trade while it scouts the various DEX platforms to find the cheapest offer. 

1inch also launched a DeFi platform, Mooniswap, one of the most sophisticated and easy-to-use Automated Market Maker.

What Is The 1inch Token?

1inch is the native token of the 1inch network. The launch of the token culminated with the unveiling of the DAO governance system. 

Unlike other ERC-20 DEX tokens, the token is not limited to a single blockchain network but is supported by the Binance Smart chain through a cross-chain bridge. 

1 INCH is also the governance token of the 1inch ecosystem. Therefore it confers voting rights on its holders. 

That means 1inch coin investors can make decisions to alter parameters like the swap fee and the yield interest rates for stakers. 

How To Invest In 1inch

To invest in this cryptocurrency, you have a couple of options:

Trading

1inch is presently available on several crypto trading platforms. These include Binance, Coinbase, eToro, and even Crypto.com. 

On each of these centralized exchanges, you will be required to sign up with an email or mobile number and verify your identity. 

After that, the steps to buying/selling the 1inch token are just as simple as depositing your funds and clicking the buy button for the token pair available under the market section.

Staking

Another way is to stake the coin. As a governance token, 1inch has what is referred to as "instant governance." The token can be used for voting rights on how the platform should be run. 

At the time of this writing, stakers can earn anything between 5-90% APY (Annual Percentage Yield) from locking up any amount of 1inch tokens in the liquidity pool.

1inch can also be turned back into the DeFi protocol, Mooniswap, to generate profit.

Is Investing In 1inch Worth It?

At the time of its release, 1inch was able to outperform both BTC and ETH. However, it is now down to the world's 114th cryptocurrency. 

The aggressive move from $1 to above $7 was impressive until it whittled down to $2.75 and has now spent the last few months dwindling around the $4 mark.

Though presently not the most hyped crypto-token, the 1inch holds a significant place in the development of the blockchain space, especially because it is the key lever that controls one of DeFi's most innovative projects. 

While other DEX platforms compete fiercely among themselves, the 1inch network is in a special stratosphere of its own. 

It is presently the only exchange platform that can give users an iron-clad guarantee of fair play against front running, a situation where high-ticket investors make profits at the detriment of small pocket investors.

Citing the token's resilience against recent market fluctuations and the stellar performance of the network as a fundamental factor, experts believe that 1inch might be worth more than its current value in the foreseeable future.

Robert Farrington
Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.

He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

Subscribe
Login
Notify of

0 Comments
Inline Feedbacks
View all comments

Primary Sidebar

  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Editor’s Picks

  • 8 best cryptocurrency exchanges ranked

    8 Best Cryptocurrency Exchanges Ranked For 2023

  • crypto savings accounts

    5 Best Crypto Savings Accounts For 2023

  • Cryptocurrency Bonus Offers

    10 Best Crypto Promotional And Bonus Offers

  • best crypto wallets

    Best Crypto Wallets For 2023 (Software And Hardware Options)

  • Best Portfolio Trackers For Cryptocurrency And Stocks

    6 Best Portfolio Trackers For Cryptocurrency And Stocks

  • best tax software for crypto and NFT traders

    Best Tax Software For Crypto And NFT Traders In 2023

Popular Posts

  • proof of work vs. proof of stake vs. proof of history

    Proof Of Work vs. Proof Of Stake vs. Proof Of History

  • Why I Bought An NFT

    Why I Bought An NFT [And 5 Reasons You Should Too]

  • My Dogecoin Experiment: What I Learned From Investing $2,000 In DOGE

  • common crypto and nft scams

    Most Common Crypto And NFT Scams (And How To Avoid Them)

  • Bookkeeping and Accounting for Crypto and NFTs

    Bookkeeping And Accounting For Crypto And NFTs

  • what is a 51% attack

    What Is A 51% Attack? (And How Is That Game Over For Crypto?)

  • what is staking crypto

    What Is Staking And How Can You Make Money With Your Crypto?

  • what are veefriends

    What Are VeeFriends And Are They Worth It?

  • how to file a complaint against crypto exchanges

    How To File A Complaint Against A Crypto Exchange [Crypto Regulators]

Footer

Pages

  • Best Cryptocurrency Wallets
  • Best Cryptocurrency Exchanges

Categories

  • Cryptocurrency
  • DeFi
  • NFT
  • Personal Finance

About

  • About The Cult Of Money
  • Contact
  • How We Make Money
  • Advertise With Us
  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter

Copyright © 2023 | Cult of Money | Privacy Policy | Terms of Service

wpDiscuz