The crypto market has swelled in value over the past couple of years. Now sitting at just over a $2 trillion valuation, crypto markets have proved highly profitable investments for traders who got in early. A cheaper coin that has also experienced monumental growth in recent years is 1inch. With the current price of the crypto at £1.22, now could be a great time to buy 1inch token.

If you don’t want to miss out on the explosive growth of the crypto market, then now could be a great time to buy 1inch token. In this article, we will cover how and where to buy 1inch, its price, and a price prediction. We will also take you through a step-by-step guide on how to set up an account with our best crypto broker eToro.

Cryptoassets are a highly volatile unregulated investment product. 

As mentioned, if the above guide seems vague then don’t fret. We will be covering a full step-by-step guide on how to buy 1inch with eToro later in the article.

Where to Buy 1inch Token

We are now going to take a look at where to buy 1inch token. One of the most important considerations that investors must make before they trade crypto is which broker they will use. Brokers are used to connect users to crypto exchanges and come in a variety of shapes and sizes.

Most providers also offer a crypto app and wallet, which is where you can securely store all of your crypto. Each boasts their own unique features, so there is no one size fits all wallet. With so many options, it can be pretty daunting to find the right wallet for you. To save you the hassle of researching, we have selected our top four best places to buy 1inch crypto.

1. eToro – Best Crypto Broker to Buy 1inch With Low Fees and Copy Trading Tools

If you’re unsure of where to buy 1inch token, we recommend using eToro. It is one of the best exchanges for beginners, as it has a simple interface which makes investing quick and easy. It is also available as a smartphone app on both IOS and Android making it widely accessible to all users. Accounts are super easy to set up by visiting the website and following the onscreen instructions.

eToro gives users access to over 2000 financial assets, 59 of which are cryptocurrencies. This means that users can build diversified portfolios of both cryptos and stocks. This can be great for reducing risk and ironing out volatility. The platform also gives users the option to trade via a $100,000 virtual account, which can be great for beginners who want to test out trading strategies without risking real capital. When users are ready to deposit real money, they can do so with a $10 minimum deposit, which is great to use if you are investing on a budget.

Two features which really set eToro aside from its competition are social and copy trading. Social trading allows eToro users to share insights to the 30 million other users in over 140 countries. These tips come in the form of posts, so can range from opinions to news. Popular posts are often from top investors, so it can be great to keep an eye out on the social investing homepage. Copy trading is another cool function that users gain access to with eToro. It allows users to directly copy portfolios from other eToro users into their accounts. These can be filtered for risk, return, and asset allocation. Users should be aware that there is a $200 minimum deposit needed to execute the copy trader function.

In terms of fees, eToro is a great option. It charges zero commission on all non-leveraged stock trades, and only 1% on crypto trades. Instead of charging commission, eToro makes its money on the fixed spreads that it charges on all trades. The only fees which investors should be aware of are the $5 withdrawal fee and the $10 inactivity fee. This fee will be charged if accounts are left untouched for over 12 months.

eToro also boasts some of the highest security protocols for its wallet. For example, it has an unlosable crypto key, so users can’t get locked out of there accounts. There are also multiple blockchain measures built into the wallet, so users can rest assured their crypto will be safe. The platform is regulated in the UK by the FCA. This means that all funds are protected by the FSCS Scheme, which acts as insurance on account deposits.

If you are keen to set up an eToro account and invest in 1inch, then visit the website. From here you can set up your account, add your funds and starting trading crypto. It’s as easy as that!

2. Crypto.com – Popular Crypto Exchange to Buy 1inch With Crypto Staking and Loans

Our second best crypto exchange to invest in 1inch token with is Crypto.com. Founded back in 2016, it has grown to a whopping 10 million users. Similar to eToro, it is a great choice for beginner investors, as it has a very easy to use interface. However, investors who are wanting to perform more technical analysis on crypto might find Crypto.com lacking in this department. There are over 250 cryptos available on the platform, which a great point to consider if users are looking to build heavily diversified portfolios. Its also available on IOS and Android.

Crypto.com also has many state of the art blockchain security protocols built into its wallets. This is great for added security levels. Each time users log in, they will have to validate their log in on a separate device (multifactor authentication). This is great as it protects accounts form being hacked or subject to fraudulent activity. In the US, the platform is covered by the FDIC programme, which provides up to $250,000 insurance to protect against loss of funds.

In terms of fees, Crypto.com is also a great option. Each fee is based on transaction size and hence they vary with each trade. If users are trading less than $25k monthly, then they should expect to pay around 0.4% in fees. As trade volume rises, the fees fall, which is a great point to consider if you are planning on trading high volumes of crypto each month.A feature worth mentioning about Crypto.com is the fact that users can gain access to a physical Crypto.com Visa card. This card can then be used at selected retailers to purchase items. The best part about this is that when purchases are made with the card, users can earn cashback which will be paid directly into their Crypto.com account in the form of crypto.

To set up a Crypto.com account, simply visit the website or smartphone app. From here, follow the instructions onscreen and enter some personal information. You can then buy 1inch token for your portfolio.

Our third broker pick to buy crypto with is Coinbase. It is one of the biggest crypto exchanges in the world, boasting over 70 million users. It is also widely accessible on both IOS and Android, which is a great point to consider. The platform itself has a pretty simple interface, so it’s great for beginner investors to use.

It is worth noting the app is cryptocurrency insured, so your funds will be protected in the event of any hacking or fraudulent activity. In addition to this, the minimum amount that users can trade is just $2, which is a great point to consider if you want to drip feed small funds into your portfolio.

The fees of Coinbase vary per transaction. It charges a flat spread of 0.5% on either side of a trade in addition to the commission charged each trade. Transactions of $10 or less can expect a $0.99 fee, whilst transactions of over $50 can expect a $2.99 fee. In addition to these costs, there are also significant deposit costs. For example, if a debit card is used, there is a 3.99% fee. U.S bank accounts are charged slightly less at 1.49%. Considering these fees, Coinbase comes in as one of the more expensive brokers to invest in 1inch with.

Whilst the layout of Coinbase is simple, investors can pay extra to access the Coinbase Pro feature. This allows for more technical analysis of charts which can be great for predicting future price moves and comparing crypto pairs. Another cool feature Coinbase offers is Coinbase Earn. This ‘earn while you learn’ model allows users to earn crypto by watching and completing online videos and tests.

To get started with a Coinbase account, visit the website and follow the onscreen instructions. 

4. Binance – Top-Rated Crypto Exchange with High Liquidity Levels

The fourth and final best place to buy 1inch is Binance. Binance is the biggest crypto exchange in the world and has over 500 crypto pairs for investors to choose from. A differentiating factor between Binance is that it allows investors to switch between simple and advanced modes. The simple layout is great for users who just want to check the progress of their portfolio without any additional features. The advanced layout allows users to delve deeper into their portfolios metrics and perform more technical analysis. This can be great for more advanced users.

Another great point about Binance is that it gives investors access to a host of educational videos. These can be great for teaching beginner investors the basics of markets and how to invest for growth. If you are a beginner investor using Binance then it could be a great idea to take a look through these videos prior to investing real capital.

Binance has also recently opened an NFT marketplace. Users can use BNB coin to purchase NFTs and add them to their accounts. The NFT market has since extremely high growth since 2020, and hence this could be a great way to add extra income to your portfolio. This really sets Binance aside from other brokers.

In terms of fees, Binance charges 0.5% in commissions per trade. Investors should also be aware that a 4.5% charge will be incurred if investors use a credit card to deposit funds. Binance has also come under fire from regulatory authorities regarding its safety. As a consequence, it isn’t available worldwide.

To set up a Binance account, visit the website or smartphone app, then follow the onscreen instructions. Once you have set up an account, Binance will give you a security key that must be remembered if you ever need to switch devices. In addition to this, users must pass an identity check each time they log in, which entails passing a simple puzzle. This helps protect against fraudulent activity.

What is 1inch?

1inch is the Ethereum token that powers the 1inch system. 1inch is a decentralised exchange that aims to boost user experience by finding the most efficient swapping routes across leading decentralised exchanges. The idea behind this is that it will save users money by finding the best prices and quickest transaction speeds. It also enables users to transact coins without an intermediary with all transactions being stored on the Ethereum blockchain.

There are three protocols that are used in order to achieve fast and secure operations by 1inch. The Aggregation protocol uses the V3 Smart Contract in order to source liquidity from various exchanges to source the cheapest and best rates. The Liquidity protocol uses previously existing liquidity pools and acts as an automated market maker to use these pools to execute transactions. Finally, the Limit Order protocol acts as a flexible limit order, stop loss, and auction manager. It features no fees, and bases prices on demand and supply conditions.

Is 1inch a Good Investment?

Stake in DeFi crypto space

The decentralised finance space and wider cryptocurrency market are both growing at a very quick rate. The wider institutional and business use of cryptocurrencies are starting to be realised, and the early investors into this space are likely to be rewarded in the long run. An investment into 1inch acts as gaining a direct stake into this sector and hence it could prove a profitable investment.

Holder benefits

By holding a 1inch token, you gain access to a number of perks. Firstly, holders can take part in governance votes and gain rewards for doing so. There are also various incentivisation activities that users can participate in which allow them to generate more of the token. Therefore, by holding a 1inch token, you actually provide yourself with the opportunity to generate more crypto for your portfolio.

Expansion

The 1inch platform has a number of expansion plans which are very exciting. For example, it has just completed a Series B funding round in which it raised $175 million. The originally planned amount was $70 million, but the target was raised after increased investor confidence in the project. The aim of this fundraising is to expand the products to serve institutional customers, for example, hedge funds and banks. It also plans to become licensed in the UK and Europe. This is a huge move from the developers and one which could lead to the 1inch price skyrocketing if all goes as planned.

1inch Price

The current price of 1inch is £1.22, which is up over 3% for the week. However, it is down by 54% over 12 months, in line with the broader crypto market slump. While this may seem like a negative, it could actually be a great time to load up on some cheap tokens before they skyrocket again.

1inch Price Prediction

As mentioned, with the current price of 1inch down by over 54% in 12 months, now could be a great time to buy 1inch. When considering the real-world utility that the coin yields, it seems logical to conclude a bullish outlook for 1inch.

The all-time high of the coin was £6.89 which was reached in October 2021. This was during the time when the wider crypto markets were booming and hence altcoins such as 1inch were hitting all-time highs. When the crypto market enters its next bull run, the price of 1inch might surpass the all-time high, especially considering the new expansion plans that the developers have initiated.

Ways of Buying 1inch

Before you buy 1inch token, you must deposit funds into your account. All of the exchanges we reviewed accept numerous payment methods, which is a great point to consider. Two of the most popular ways of adding funds are with an e-wallet such as PayPal, or by a credit/debit card. Let’s take a quick look at how to buy 1inch token with each.

Buy 1inch with PayPal

In order to use PayPal, users will have to set up a PayPal account and either add funds to it or connect it to their bank accounts. Once users have completed this step, they can simply select the PayPal payment option when adding funds to their broker account and they will be taken via PayPal.

Buy 1inch with credit card or debit card

Using a credit/debit card is arguably easier than a PayPal account as it is more direct and doesn’t require setting up/linking any other accounts. To buy 1inch with this method, simply connect your bank account to your broker. Investors should be aware that there are sometimes higher fees for credit card deposits with some brokers.

Best 1inch Wallet

Users must have a wallet in order to buy and sell their crypto. It also acts as a place where their crypto can be securely stored and protected against fraudulent activity. There are a number of crypto wallets out there all boasting different fees and features. In our opinion, the best crypto wallet is the eToro wallet. It is FCA regulated, highly secure, and allows users to hold a wide variety of different cryptos. It also charges a low commission per trade of just 1%.

How to Buy 1inch – Tutorial

Let’s now take a step-by-step look at how you can create an eToro account and purchase 1inch for your portfolio.

Step 1: Create an eToro account

The first step is to create an eToro account. You can quickly and easily do this by visiting the eToro website and following the onscreen instructions. You will have to enter some basic personal information at this stage.

Step 2: Verify new account

Now you have created an account you must verify it before you add funds. In order to do this, you will need to provide eToro with some valid forms of ID. These can include a driver’s license and a recent utility bill (proof of address). eToro will aim to have these verified within minutes.

Step 3: Deposit funds

Now you have a verified account, you can deposit your funds. eToro accepts a variety of payment methods including debit/credit card, bank transfer, PayPal, and Skrill. The $10 minimum deposit must be met in order to add funds.

Step 4: Buy 1inch

Now your funds have been added you can search for 1inch using the eToro search bar. Once you have found it, click the ‘Trade’ button and fill out the order form. Execute the transaction to add it to your account.

How to Sell 1inch

Hopefully, after some time your 1inch investment will have turned profitable, and you can start to reap the benefits. If you want to sell out of your 1inch position, follow the steps below.

Step 1: Log in to your eToro account

Visit the eToro website and log into your account using our username and password.

Step 2: Navigate to your portfolio.

Click on the ‘portfolio’ button on the left of the screen to open your portfolio. This will show you’re your open positions and equity value.

Step 3: Click on your 1inch position

Select your 1inch position and click the sell button to exit this position. This will sell the coin and the current price and lock in the profits to your portfolio. These funds can be withdrawn at any time if users want to bank the profit for good.

Conclusion

The crypto market and DeFi space are growing at a tremendous rate. 1inch token is placed at the forefront of this market trajectory and hence it could be a great investment for long-term growth.

If users are interested in buying 1inch, we recommend doing so through eToro. It offers an easy-to-use, FCA regulated, multi-asset, and highly secure crypto wallet. In addition to this, the platform offers over 30 cryptos and charges just a 1% commission per crypto trade. Click the link below to get started.

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