Crypto Content Writer For Binance

1inch is a decentralized exchange (DEX) aggregator that will help you choose between different DEXs for the best price.

You can buy, sell or trade 1INCH in India using the Binance platform. 

Indian investors trust the 1Inch project as it recently introduced the Limit Order Protocol contract audited by Chainsulting.

Blockchain, the technology behind Bitcoin and Decentralized finance, has been in the limelight in this new digital era. Decentralized finance is a system that aims to replace the existing traditional banking and finance system with cryptocurrency, making the process entirely decentralized. 

With the continued increase in mainstream adoption and popularity of decentralized finance (DeFi), DeFi coins and DEX aggregators have emerged as the biggest winners. 

Before understanding what 1inch is, it is essential for you to understand DEX. 

Decentralized exchanges, also known as DEXs, are cryptocurrency exchanges that don't require a third party to govern it all, i.e., no single company maintains the order books, monetises funds, or calls the shots. The most notable beneficiary of this is 1inch.

There are a few such DEXs: Uniswap, Pancakeswap, Adamant and Sushiswap. All these exchanges have a different structure and sell cryptocurrencies at different prices. If you want to choose between these DEXs to get the best price, you need to use 1inch.

1inch is a decentralized exchange (DEX) aggregator built on Ethereum.

That means it searches a handful of decentralized exchanges for the lowest prices and redirects its clients' trades between them to ensure they get the best prices. 

 It is a liquidity protocol that provides customers with the most favourable and convenient transaction route by automatically aggregating offers from other decentralized exchanges.

The interest in 1inch isn't for speculative purposes. As DeFi continues to evolve, DEX aggregators are bound to be in the middle of everything. And obviously, crypto enthusiasts in India would want to be part of the decision-making process regarding DEX aggregators. 

Users must go through several decentralized exchanges to find the best prices. But 1inch eliminates the need for this and fulfils the task of a price comparison machine by often displaying the significant mismatch in pricing among various exchanges. 

The DEX has adopted a multifaceted growth strategy, positioning itself as the industry leader in aggregation protocols from Ethereum, Polygon, and Binance Smart Chain. Moreover, Indian investors' trust in the project soared as it recently introduced the Limit Order Protocol contract audited by Chainsulting. That means that it is now closer to becoming a fully-fledged decentralized autonomous organization (DAO).

Another major reason for 1Inch's popularity in India is that using the 1Inch platform does not cost you anything except the transaction charges. The unique functionality of 1inch is the primary reason for the growing interest in 1inch for investors and traders in India. This also in terms raises a question on where and how to buy the 1inch coin. To answer this question, let's move to the next part.

Every trader would want their hard-earned invested money to be safe, especially when they are in India, where the crypto world is still not treated right in the government's eyes. Therefore, for buying 1INCH in India, one needs to choose their crypto exchange wisely. And for that, the Binance p2p option can be the right one.

You can buy, sell or trade 1INCH in India using the Binance exchange, as Binance has proved itself by providing a wide variety of payment methods and high security. Binance has a database of willing sellers and buyers in the p2p option, providing the most convenient way for buying BTC or BNB and trading 1inch in India through a decentralized exchange. 

How can you buy 1inch coin through P2P on Binance in India?

Before buying 1INCH coin in India, you must sign up for a Binance account and pass the KYC policy. That's because Binance must verify the identity of individuals and businesses that intend to participate on the P2P platform. After completing your KYC process, you will have to buy a cryptocurrency like Bitcoin, BNB, or Ethereum through the P2P platform. You can then exchange the crypto for 1inch coins. 

On the P2P platform, you can filter all the available sellers based on the preferred payment method – you get to choose a seller who accepts the most convenient payment method. Users can buy 1INCH using a credit card, debit card, direct bank transfer, cash balance, Skrill, Neteller, Upload, or Perfect Money in India. Upon completion of the transaction, the purchased BNB will be showing in your Wallet.

 

Once you have successfully purchased BNB coins, from here, you will be able to spot trade the BNB for 1inch on the Binance Spot Trade Platform.

 

Step 1: Once you have logged into your account, click "Trade" and choose "Classic". This will take you to the Spot Trading page. 

 

On this interface, you will see the following:

· Sell/Buy order book

· Buy/Sell Cryptocurrencies

· Market and trading pairs

· "Buy Crypto" section

· Live market price chart 

· Open orders

For this example, we will buy 1INCH coins using the BNB you purchased earlier. 

 

Step 1: In the search window on the right-hand side, type 1INCH/ BNB. Click on this pair. The interface will now update with the information for this pair.

 

Step 2: You can choose to buy 1INCH coins via a limit order, market, or stop-limit order. For our example, we will select market order.

 

Step 3: Click on "Market", then enter the amount of BNB you wish to purchase 1INCH.

 

Step 4: Then click "Buy 1INCH".

 

Step 5: Once the order is complete, the 1INCH coins will be showing in your Wallet.

 

You have now successfully bought 1INCH coins, and you can decide to hold it to sell at a later stage or exchange it into your fiat currency.

Reliability and safety are the backbones of Binance P2P. Any transaction on the platform is safeguarded by escrow, eliminating any counterparty risks. This is meant to protect users from scammers. When you strike an agreement with a seller to buy 1INCH cryptocurrency, the system will automatically transfer the tokens from the seller's account into Binance P2P's escrow service. That way, you are confident that the tokens you want are available. But they will only be released to you once you complete the seller's payment. 

The number of DEXs increases day by day, giving investors an excellent opportunity to earn through yield farming, staking, etc. Choosing the best among these can be a challenging task for everyone. DEX aggregators such as 1inch are at the heart of DeFi's future, providing a fantastic real-life use case to filter the DEXs. To start trading 1inch on the Binance P2P platform, you must first register on Binance, verify your trading account, and complete SMS verification.

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