Buy 1inch in the UK

How to buy 1inch: Why do investors like this token? In a nutshell, 1inch is like a smart shopping assistant for cryptocurrency traders. Imagine you’re shopping online, and you want to buy a product. Instead of going to just one store, you use a tool to check multiple websites to find competitive deals. 1inch does something similar but for crypto trading.

Here’s how it works.

Comparison shopping

1inch compares cryptocurrency prices across several popular exchanges in the decentralised exchange (DEX) ecosystem.

It looks at different platforms to find competitive rates for the crypto swaps you want to make.

Just like a coupon aggregator finds competitive deals for consumers, 1inch finds competitive rates for traders.

No middleman

1inch is a non-custodial exchange, which means it doesn’t hold your funds. You need a third-party wallet to use its services.

Wallets store the keys (codes) that let you control your crypto coins.

How it helps traders

If you’re trading one crypto for another (say, swapping Ethereum for Bitcoin), 1inch checks various exchanges to get you a competitive rate.

It might even split your swap across different exchanges to give you an even better deal. Plus, you can set a limit order, specifying the price you want to pay, and 1inch will execute the trade only if the currency reaches that rate.

Why would investors buy 1inch?

Best rates

Investors buy it because it finds competitive rates for their trades.

Competitive fees means possible investor returns, and the protocol helps you secure competitive fees.

No fees

Unlike some exchanges, 1inch doesn’t charge additional fees for using its services. No withdrawal or deposit fees either.

Huge range of cryptocurrencies

1inch supports a wide variety of cryptocurrencies. Whether you’re into Bitcoin, Ethereum, or lesser-known altcoins, you'll likely benefit from being involved with the platform.

Liquidity mining and staking

Token holders can use it for trading and paying gas fees.

They can also participate in liquidity mining (earning rewards by contributing to the 1inch liquidity pool) and staking.

Conclusion: Why investors buy 1inch

In summary, 1inch is like your crypto-savvy friend who always knows where to find competitive deals. It is a tool that could optimise crypto trading.

How to Buy 1inch on CoinJar

Sign Up for CoinJar: First, you’ll need to create an account on CoinJar. You can do this by downloading the CoinJar app on your iOS or Android device. During the sign-up process, you’ll need to verify your identity (ID).

Deposit Funds: Once your account is set up, you’ll need to deposit funds. Navigate to your crypto of choice.

Place Your Order: Decide how much you want to buy. You can enter the amount in GBP (Pounds Sterling).

Review and Confirm: Double-check your order details. Make sure you’re buying the right amount of your crypto of choice. Confirm the order, and it will be processed.

Protect your crypto: Once the order is complete, your tokens will appear in your CoinJar wallet. Consider transferring your digital assets to a protected external wallet for added protection.

Platforms use a level of protective protection measures such as cold storage, encryption, and multi-factor authentication.

Some features being online mean there is a risk that it may be a victim of a cyberattack. Cold storage is often referred to as "cold wallets” (like Ledger or Trezor) and these are effective for long-term storage as they are offline and difficult to hack.