What Is 1inch Exchange?
1inch Exchange is a decentralized exchange (DEX) aggregator that enables users to swap cryptocurrencies across multiple platforms in a single transaction. Founded in 2019 by Sergej Kunz and Anton Bukov, it optimizes trades by scanning liquidity sources like Uniswap, Sushiswap, and Balancer to ensure the best rates.
Key Features
- Exchange Aggregation: Combines liquidity from leading DEXs.
- Pathfinder Algorithm: Dynamically routes trades for optimal pricing.
- Additional Tools: Limit orders, instant wallets, and liquidity pools.
- Governance Token (1INCH): Used for voting and incentivizing liquidity providers.
Step-by-Step Guide to Using 1inch Exchange
1. Connect Your Wallet
Supported wallets include:
- MetaMask
- WalletConnect
- Portis
- Fortmatic
👉 Learn how to secure your wallet
2. Select Tokens
Choose from a wide range of cryptocurrencies listed on the platform.
3. Automatic Exchange Selection
1inch scans exchanges to find the best rate. You can also manually select a preferred DEX.
4. Review & Confirm
Check:
- Token pair
- Exchange used
- Gas fees
5. Transaction Processing
Completion time varies based on network congestion and gas fees.
6. Receive Tokens
Swapped tokens are deposited directly into your wallet.
Why Choose 1inch?
- Cost-Efficient: Splits trades to minimize slippage.
- User-Friendly: Intuitive interface for beginners and pros.
- Transparent: Real-time price comparisons.
👉 Explore advanced trading strategies
FAQs
Q1: Is 1inch Exchange safe?
Yes—it’s non-custodial, meaning you retain control of your funds.
Q2: What networks does 1inch support?
Ethereum, Binance Smart Chain, Polygon, and more.
Q3: Are there fees?
Gas fees apply, but 1inch doesn’t charge additional commissions.
Q4: Can I stake 1INCH tokens?
Yes, via liquidity pools to earn rewards.
Q5: How does Pathfinder work?
It analyzes liquidity and prices across DEXs to route trades efficiently.