{"id":21986,"date":"2023-02-02T11:17:15","date_gmt":"2023-02-02T11:17:15","guid":{"rendered":"https:\/\/zebpay.com\/in\/?p=21986"},"modified":"2023-02-02T11:17:16","modified_gmt":"2023-02-02T11:17:16","slug":"what-is-1inch-crypto","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto","title":{"rendered":"What Is 1inch Crypto?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Introduction_About_1inch_Network\" title=\"Introduction About 1inch Network\">Introduction About 1inch Network<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#How_Does_1inch_Crypto_Work\" title=\"How Does 1inch Crypto Work?\">How Does 1inch Crypto Work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#1inch_Crypto_Features\" title=\"1inch Crypto Features\">1inch Crypto Features<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Wide_Compatibility\" title=\"Wide Compatibility\">Wide Compatibility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Multi-Path_Swaps\" title=\"Multi-Path Swaps\">Multi-Path Swaps<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Governance\" title=\"Governance\">Governance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Pros_and_Cons_of_1inch_Network\" title=\"Pros and Cons of 1inch Network\">Pros and Cons of 1inch Network<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#1inch_Network_Pros\" title=\"1inch Network Pros\">1inch Network Pros<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#1inch_Network_Cons\" title=\"1inch Network Cons\">1inch Network Cons<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#FAQs_on_1inch_Network\" title=\"FAQs on 1inch Network\">FAQs on 1inch Network<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Is_1inch_a_Good_Investment\" title=\"Is 1inch a Good Investment?\">Is 1inch a Good Investment?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Is_1inch_a_Good_Wallet\" title=\"Is 1inch a Good Wallet?\">Is 1inch a Good Wallet?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#How_to_Earn_1inch_Coin\" title=\"How to Earn 1inch Coin?\">How to Earn 1inch Coin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/zebpay.com\/in\/blog\/what-is-1inch-crypto\/#Does_1inch_Have_a_Future\" title=\"Does 1inch Have a Future?\">Does 1inch Have a Future?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>Decentralized finance has been highly influential in the financial world because it presents a huge shift in how most users can access financial services. One such service includes crypto exchanges. Decentralized exchanges (DEXs) offer users quick and easy trading services without the need for a central authority.&nbsp;<\/p>\n\n\n\n<p>But when there are so many different exchanges, how do you know you are getting the best price for your trade? This is where the 1inch network comes into play.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction_About_1inch_Network\"><\/span>Introduction About 1inch Network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>1inch offers a whole suite of DeFi tools, but it is best known for being a DEX aggregator. This means that it analyses several different crypto exchanges and finds the best price for your trade. 1inch helps ensure you are never paying more than you have to for your crypto.&nbsp;<\/p>\n\n\n\n<p>Founded in 2020, the platform offers support for Ethereum, BNB Smart Chain, <a href=\"https:\/\/zebpay.com\/in\/blog\/what-is-polygon-matic\" target=\"_blank\" rel=\"noreferrer noopener\">Polygon<\/a>, Arbitrum and Optimism.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Does_1inch_Crypto_Work\"><\/span>How Does 1inch Crypto Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The 1inch network goes over more than 50 sources of liquidity available on Ethereum to find the best trade for you. This is done through \u201cscraping\u201d, which is an automated process that extracts data from web pages and other sources. Hundreds of arbitrage bots are deployed to find the trading process resulting in the lowest fees for the user.&nbsp;<\/p>\n\n\n\n<p>For example, assume you want to buy an ERC-20 token like SHIB(Shiba Inu) using ETH. There are many possible ways to complete this trade. The first is to draw directly from an ETH\/SHIB liquidity pool. However, it may have high fees that result in an expensive swap.&nbsp;<\/p>\n\n\n\n<p>Instead, 1inch may swap your token over several protocols and pools to complete your request. In the end, the cost of the trade found by 1inch will likely be the cheapest possibility.&nbsp;<\/p>\n\n\n\n<p>How does 1inch make money? It doesn\u2019t. Since 1inch is decentralized, it is not run by a for-profit company. Instead, liquidity providers on the network can earn returns for providing their capital, but the network does not have any fees of its own.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1inch_Crypto_Features\"><\/span>1inch Crypto Features<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Wide_Compatibility\"><\/span><strong>Wide Compatibility<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1inch offers support for 5 different networks: Ethereum, Arbitrum, Optimism, Polygon and BNB Smart Chain. No matter what network you choose, you can access the 1inch protocol to help ensure your trades are low cost.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Multi-Path_Swaps\"><\/span><strong>Multi-Path Swaps<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The protocol supports multi-path swaps, which is useful when the cost of a direct trade is higher than one with many intermediate steps. Multi-path swaps imply that the protocol can swap your provided token over several in-between sources to arrive at the final token.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Governance\"><\/span><strong>Governance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1inch is a decentralized protocol and so is its governance. You can participate in decision-making for the protocol as long as you own 1INCH tokens. There are two ways you can do this &#8211; Instant Governance allows you to immediately vote on an issue using your staked tokens. DAO governance enables you to create a proposal and allow other users to vote on it.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pros_and_Cons_of_1inch_Network\"><\/span>Pros and Cons of 1inch Network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"384\" src=\"https:\/\/zebpay.com\/in\/wp-content\/uploads\/2023\/02\/Pros-and-Cons-of-1inch-Network-1024x384.jpg\" alt=\"1inch Network pros And Cons\" class=\"wp-image-21991\" srcset=\"https:\/\/zebpay.com\/in\/wp-content\/uploads\/2023\/02\/Pros-and-Cons-of-1inch-Network-1024x384.jpg 1024w, https:\/\/zebpay.com\/in\/wp-content\/uploads\/2023\/02\/Pros-and-Cons-of-1inch-Network-300x113.jpg 300w, https:\/\/zebpay.com\/in\/wp-content\/uploads\/2023\/02\/Pros-and-Cons-of-1inch-Network-768x288.jpg 768w, https:\/\/zebpay.com\/in\/wp-content\/uploads\/2023\/02\/Pros-and-Cons-of-1inch-Network-150x56.jpg 150w, https:\/\/zebpay.com\/in\/wp-content\/uploads\/2023\/02\/Pros-and-Cons-of-1inch-Network.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Pros<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Cons<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">No Fees<\/td><td class=\"has-text-align-center\" data-align=\"center\">Complex UI for begginers<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Highly Competitive Rates<\/td><td class=\"has-text-align-center\" data-align=\"center\">Fees will be charges for underlying networks<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Extensive Wallet Support<\/td><td class=\"has-text-align-center\" data-align=\"center\">Limited Fiat Support<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1inch_Network_Pros\"><\/span><strong>1inch Network Pros<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul>\n<li><strong>No Fees <\/strong>&#8211; The only fees you pay on 1inch are the ones levied by DEXs. The 1inch protocol itself does not charge any additional fees.&nbsp;<\/li>\n\n\n\n<li><strong>Best Rates<\/strong> &#8211; Using its multi-path swaps and arbitrage bots, 1inch offers the lowest possible fees for your trades. You are never paying more than you have to for your tokens.&nbsp;<\/li>\n\n\n\n<li><strong>Extensive Wallet Support <\/strong>&#8211; 1inch offers support for 16 different crypto wallets, which include its own 1inch wallet service. You can likely get started using 1inch with your current wallet.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1inch_Network_Cons\"><\/span><strong>1inch Network Cons<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul>\n<li><strong>Not Beginner-friendly<\/strong> &#8211; 1inch is designed for seasoned investors and those familiar with crypto. Beginners in the field may find the platform daunting to use.&nbsp;<\/li>\n\n\n\n<li><strong>Fees of Underlying Networks<\/strong>&#8211; While 1inch does not have any charges on its own, it still suffers because of Ethereum\u2019s high gas fees. While your trade may be at the lowest price possible, Ethereum\u2019s congestion may still result in high total costs.<\/li>\n\n\n\n<li><strong>Limited Fiat Support<\/strong> &#8211; Most DEXs do not let you purchase tokens using fiat currencies like the US dollar. While 1inch allows you to buy Ethereum with fiat through moonpay, it involves steep processing fees.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/in\/blog\/fiat-vs-crypto\" target=\"_blank\" rel=\"noreferrer noopener\">Fiat Vs Crypto<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>1inch offers a unique service not found on many other <a href=\"https:\/\/zebpay.com\/in\/blog\/an-introduction-to-defi\" target=\"_blank\" rel=\"noreferrer noopener\">DeFi<\/a> platforms. Its multi-path swaps are an innovative method to automatically find the best price for your trades. But the network still suffers from issues, owing to Ethereum\u2019s problems with cost and scalability. Its future looks bright as long as it continues to innovate and makes it easier for novice traders to get started.&nbsp;<\/p>\n\n\n\n<p>You can trade 1inch coin on <a href=\"https:\/\/zebpay.com\/in\" target=\"_blank\" rel=\"noreferrer noopener\">ZebPay India<\/a>. Level up your trading experience using ZebPay\u2019s brand new upgrade.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color wp-element-button\" href=\"https:\/\/connect.zebpay.com\/account\/UserRegistration?returnUrl=%2FAccount%2FCampaignRegister\" target=\"_blank\" rel=\"noreferrer noopener\">trade now<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_on_1inch_Network\"><\/span>FAQs on 1inch Network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1675331354287\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Is_1inch_a_Good_Investment\"><\/span><strong>Is 1inch a Good Investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The 1inch token is priced at $0.395 with a market cap of $311,576,000 at the time of writing. 1INCH is used for governing the network and its protocols. If you are an avid user of the platform, investing in 1INCH is a good choice.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1675331383231\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Is_1inch_a_Good_Wallet\"><\/span><strong>Is 1inch a Good Wallet?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>The 1inch wallet offers an array of features that make it easy to interact with the crypto ecosystem. These include instant swaps and buying crypto using fiat money within the wallet. This makes it a compelling option.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1675331420182\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"How_to_Earn_1inch_Coin\"><\/span><strong>How to Earn 1inch Coin?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>You can earn 1INCH by participating in its liquidity pools. By becoming a liquidity provider (LP), you can collect rewards in the form of 1inch tokens.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1675331471299\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"Does_1inch_Have_a_Future\"><\/span><strong>Does 1inch Have a Future?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>1inch definitely provides an essential service in the DeFi sphere. Its services will continue to be in demand as long as DeFi continues to thrive.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Decentralized finance has been highly influential in the financial world because it presents a huge shift in how most users can access financial services. One such service includes crypto exchanges. Decentralized exchanges (DEXs) offer users quick and easy trading services without the need for a central authority.&nbsp; But when there are so many different exchanges, [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":21992,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14],"tags":[16],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/21986"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=21986"}],"version-history":[{"count":0,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/21986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/21992"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=21986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=21986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=21986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}