How to buy 1inch (1INCH) in the UK
Learn how to buy 1inch (1INCH) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
How to buy 1inch
1. Compare crypto exchanges
The easiest way to buy 1inch is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.
3. Make a deposit
Once verified, you can deposit £ using the payment method that best suits you – debit card, neteller, paypal and wire transfer payments are widely accepted.
4. Buy 1inch
You can now exchange your funds for 1inch. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your 1inch to your personal wallet.
Where to buy 1inch in the UK
Find an exchange to buy, sell and trade 1INCH by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy 1inch
Look for an exchange that supports both fiat and cryptocurrency to simplify buying 1inch.
- Compare cryptocurrency exchanges that supports 1INCH.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy 1inch.
- Buy 1inch.
Complete your 1inch purchase and then find the best wallet to store 1INCH.
What to consider when buying 1inchCryptocurrencies are highly speculative assets that come with a range of risks. Additionally, buyers of 1INCH tokens may want to consider the following:
- Copycats: Because 1INCH is open-source, potential competitors can copy the code-base and create their own version of 1INCH with very little effort. This could lead to a loss in market share for 1INCH, which could affect demand for the token as a result. That being said, almost all decentralized exchanges are open source, so the risk is not unique to 1INCH.
- Governance: 1INCH is managed by a Decentralized Autonomous Organization (DAO), which means that token holders have control over various aspects of the platform, including fees, liquidity provider rewards and even rewards for participating in the act of governance itself. Keep in mind that while DAOs are democratic, voting power is determined by the number of tokens a voting address holds. For instance, at the time of writing (March 2021), a single address held 18% of the voting power.
- Token supply: 1INCH launched on December 26 2020, distributing 6% of the total token supply to eligible addresses, with a further 0.5% over the following two weeks. The remaining tokens are controlled by the DAO and distributed in various ways, with the maximum supply of tokens sitting at 1.5 billion, although this could be changed in the future. At the time of writing, the DAO plans to distribute tokens via the following mechanisms such as rewards, incentives, wages, payments and development.
Recent 1inch developments
How to sell 1inch
You can cash out your 1INCH with the same exchange you bought it through:
- Sign in to the exchange you have 1INCH on.
If you store your 1inch in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of 1INCH you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of 1inch.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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