1inch Network (1INCH) Coin Price Index

In this article, we’ll discover how 1inch Network (1INCH) works within the broader crypto ecosystem, what benefits may arise from holding 1INCH, and learn how 1INCH price charts can reveal potential opportunities.

What is 1inch Network (1INCH)?

Founded in May 2019, the 1inch Network went live on December 25, 2020 with its native token, 1INCH, serving a variety of critical functions. The project was conceived as a decentralized exchange (DEX) aggregator to present the most competitive positions to participants across the DeFi space. By conducting ongoing, sector-wide sweeps of available listings and open smart contracts, the 1inch Network generates an elastic menu of potential opportunities, while incentivizing key roles necessary for operational stability. Often compared to the process of booking a flight or hotel through a third-party website, 1inch provides a similar service for those seeking to avoid gas and native token fees for cross-chain asset purchases.

The project claims “one-stop access to decentralized finance,” and offers a range of products including crypto wallets and portfolios, optimized trading, liquidity protocols, and tokens. The network’s native token, 1INCH, helps lubricate on-chain actions and prioritize outcomes for incoming user requests. While 1INCH is technically the protocol’s governance token, only staked 1INCH tokens unlock voting rights for holders. A user’s influence in network governance is measured in Unicorn Power, or UP, which accumulates from staking 1INCH. UP is also exchanged on the platform, as it is appealing to those seeking more of a say in network development.

Who are the Founders of 1INCH?

Like its ever-changing landscape, crypto lore is also notoriously sprawling, with collaborations bubbling up organically amidst the industry’s torrid gestation. One node in this evolution is the flashpoint when future 1inch founders Sergej Kuntz and Anton Bukov combined their coding expertise at an ETHGlobal hackathon in 2019. The result was the smart contract technology necessary to aggregate decentralized exchanges and secure pathways to acquiring the best available rates for desired transactions. With experience coding for apps, iOS, smart contracts, and blockchain protocols, the pair were well suited to grapple with and innovate around perceived limitations in crypto. 

How does 1INCH Work?

Following the route of many crypto projects and exchanges, 1inch Network is itself an ecosystem of interconnected products and services aiming to compete in a volatile market. By streamlining the search and discovery of advantageous positions through user-centric design and expediency, 1inch introduces the shrewd, bargain hunting algorithms of online shopping and travel booking to digital asset transactions. This way, rather than subjecting users to the rates of one exchange or outlet, 1inch provides multiple pathways for participants to choose their preferred listing. This can include any number of transactions that, in total, leads to the greatest retention of value through each step.

In addition to the 1inch Network’s native token, eligible participants may also stake their 1INCH to the Liquidity Protocol to earn ‘LP tokens,’ which can themselves be staked or swapped for other digital assets. Although not technically a form of currency, Unicorn Power is required to participate in governance matters, and may also be earned through staking 1inch. However, it is important to note the parameters and resulting consequences of breaking staking commitments before locking up funds. On the one hand, it can make funds difficult to access for a period of anywhere from months to years, while also incurring penalties for pulling funds early. Since both possibilities could have negative effects on the health and well-being of one’s crypto journey, it’s crucial to approach all opportunities in the digital economy with a clear-eyed perspective and prior research. 

What’s the 1INCH Price History?

While the project’s launch date made it well-positioned for success during the COVID-era crypto boom, it also suffered the same downturns. The 1INCH historical price reached its all-time high on May 8, 2021 at $7.81, before bottoming out significantly to $0.2211 on September 11, 2023. Despite the obvious decline revealed by this juxtaposition, the reality spells a grim performance. 

What’s the current 1INCH Price Index?

At the time of this writing on December 18, 2023, 1inch Network (1INCH) was trading at $0.3512, a valuation down roughly 95.55% from the all-time high, according to CoinMarketCap. This is also slightly down from $0.39 where the asset started the year, but still rebounded somewhat from the all-time low back in September 2023. Understanding the 1inch price over time is crucial to determining where potentially rewarding entry points could result in an improved position for patient participants. Conducting brief price analysis, and a personal risk assessment, can help ensure decision making is both sound and intentional in the face of changing market conditions.

Where to buy 1inch Network (1INCH)?

When seeking credible crypto listings, a good place to begin is a vetted, regulated exchange. This means determining whether the platform has worked diligently with officials in their operational jurisdictions to obtain and uphold necessary licenses and certifications. Such qualifications are often upstream of positive customer satisfaction, and can be sought to root out those that lack such distinction. In a similar vein, understanding where the company is licensed can give a strong indication as to its reliability, not to mention the depth and quality of its offerings.

CEX.IO is a globally regulated crypto exchange with over six million registered users that, since 2013, has developed its own ecosystem of award-winning products and services. From integrating real-time daily crypto prices, to hosting ample pathways to buy BTC, buy Tron, and buy Ethereum, CEX.IO has always aimed to streamline the user experience. Accessible through a web browser and on-the-go with the CEX.IO App, eligible users can engage with over 300+ crypto markets and pairings to build their ideal portfolio. Instant Buy remains the company’s flagship product for immediate crypto purchases that accepts an array of payment rails. Along with using CEX.IO as a means to buy Litecoin or buy dogecoin, integrated services allow participants to also sell crypto, and even exchange BTC to USD.

How to buy 1inch Network (1INCH)?

The first step to being in a position to purchase 1INCH, is to create an account on CEX.IO and get verified. Typically, this process takes roughly 15 minutes from start to finish, if you have a photo ID and proof of address at the ready. From there, navigate toward the Product tab from the home screen to begin exploring potential pathways. Where Instant Buy remains a top choice for new and experienced crypto enthusiasts alike, more advanced tools like Spot Trading are also available in qualifying jurisdictions.

Once you’ve selected the product of your choice, link a preferred payment method to fund your CEX.IO account and continue with the transaction. CEX.IO’s tenured reputation and close collaborations with regulators has opened the door to many generative corporate partnerships. After becoming the first crypto company to empower its users to buy bitcoin with a credit or debit card, CEX.IO set a course for innovation with the goal of encouraging wide scale crypto adoption. By combining ease of integration and freedom of choice that yields control to its community, CEX.IO is always seeking new ways to incorporate the next generation of forward-looking industry solutions.

It's worth noting that the availability of certain products and services, as well as how soon they may be accessed as a new user, may vary between jurisdictions. To check the availability of CEX.IO products and services in your region, please visit our Terms of Use.

FAQ

Is 1inch Network (1INCH) available on CEX.IO?

In addition to hundreds of crypto-to-crypto and crypto-to-fiat pairings, eligible CEX.IO users may choose from a variety of pathways to buy 1INCH across the product ecosystem. Participants can access the project via a web browser or CEX.IO App, and buy the native token with a whole slew of possible payment methods. All purchased 1INCH is immediately transferred to the CEX.IO account holder’s wallet and may be moved from there at the user’s discretion. In turn, users who choose to buy binance coin, buy Tezos, or any other crypto through CEX.IO App will have the same swift experience acquiring crypto with just a few taps.

What should I know before buying 1inch Network (1INCH)?

Before choosing to purchase a native token, it’s always wise to assess the health and performance of the token-issuer. This includes examining 1INCH price trends, while being careful to avoid anyone claiming to make 1INCH price predictions. Remember, there’s no such thing as absolute certainty in crypto, and that’s a notion worth keeping in sharp focus. Following close research and examination of the 1INCH coin price index, traders who’ve concluded after an honest personal risk assessment to buy the token could proceed to a trusted exchange, like CEX.IO.

What payment methods are available on CEX.IO?

After breaking critical ground in 2014 with the introduction of credit and debit card payments to purchase BTC, CEX.IO had made its mark on the crypto space. Since then, the company has worked tirelessly to maintain good-standing with key regulators to ensure established payment rails remain operational for all eligible participants. This strategy also positions the company to extend ethical services to emerging projects that align with CEX.IO’s core values. As champions of blazing one’s own trail, staying curious, taking ownership, striving to simplify, and centering the user experience, like-minded builders and rising leaders can find a home at CEX.IO. At present, users may choose between debit, credit, bank account, wire transfer, digital wallet, open banking, Apple Pay, Google Pay, and PayPal where eligible. To determine the scope of service in your region, please refer to our Terms of Use.