1inch is a DEX aggregator that brings together all the major decentralized exchanges into a single network for liquidity and pricing, making it easier to claim the best deals for trades. It was founded by Sergej Kunz and Anton Bukov in 2019. 1inch gives users access to 50 plus liquidity sources on Ethereum, 20 on the Binance Smart Chain, and 8 on Polygon. It draws on DEXs such as Uniswap, 0x, and Balancer, and 1inch’s own liquidity protocol.
Features of 1inch Exchange
- No withdrawal and deposit fees
- Wide variety of cryptocurrencies
- User friendly use interface
- No KYC required
- Very secure
- User have complete authority
Advantages of 1inch Exchange
- Except for the network fees, there is no hidden involved
- 1inch ensures high liquidity on trades by limiting
- 1inch’s CHI gas token can reduce transaction costs even further.
- A well designed and user friendly interface
- It also has a good record of no hacking and security breach incidents
- It works with various wallets
- 1inch has a wide variety of cryptocurrencies to it’s network
Disadvantages of inch Exchange
- Not supporting fiat currencies is the biggest disadvantage
- The trading features are really complicated
- Inch Exchange is not available everywhere in the world
- 1inch’s Infinity Unlock feature which saves transaction fees and time by unlocking all tokens once could be a security risk. Unlocking each transaction individually is safer.
As you can see, there are many compelling reasons to give the 1inch Exchange a try. Its interface is intuitive and user-friendly. And the company enjoys an incomparable track record when it comes to security and safety. If you already have a wallet and want to access a wider selection of cryptocurrencies, then it’s a really good exchange for you