What is the difference between 1inch and other DEXs
1inch is a decentralized exchange (DEX) that allows users to trade cryptocurrencies without the need for a centralized intermediary. However, it has some features that set it apart from other DEXs.
- Liquidity pools: 1inch uses liquidity pools to aggregate the best prices from different decentralized exchanges, this allows users to access the best prices without paying high fees.
- Advanced trading features: 1inch offers advanced trading features such as slippage tolerance, split, and swap which allows users to take advantage of the best prices and avoid paying high fees.
- High-liquidity: 1inch has high-liquidity and the platform is built to handle high volume trades.
- Multi-chain support: 1inch supports multiple chains such as Ethereum, Binance Smart Chain and more, allowing for more diverse trading options.
- Referral program: 1inch also offers a referral program where you can earn rewards by referring friends to the platform, this allows users to earn extra rewards and reduce their trading fees.
- Decentralized: like all DEXs, 1inch is decentralized which means that you are in full control of your assets and private keys and you don’t have to go through a KYC process.
While there are other DEXs available in the market, 1inch stands out with its advanced trading features and liquidity pools which allow users to access the best prices and reduce their trading fees.
It’s important to note that trading on any decentralized exchange still carries some risks and it’s important to be aware of them, and to always do your own research before making any trade.