Review on 1inch Exchange by Naomi Ilani
The Best DEX I've Ever Used
BBefore now,I found abbreviations like "CEX" and "DEX" quite strange. It was until a friend came up to tell me that they stand for Centralized exchanges and Decentralized exchanges respectively. All these while, most of my reviews have been on the Centralized exchange platforms and few on Decentralized. I now decided to talk about another Decentralized exchange platform I discovered to be really good. It seemed to be quite nice to me and that's why I thought of documenting my review.
The exchange platform I would be talking about is the 1Inch exchange platform. This is an exchange platform that was launched in the year 2020 although preparations started since 2019. It is an Ethereum based projects and was founded by Sergej Kunz and Anton Bukov. In this review, I would be talking about the things that made me love this exchange platform.
1. The fact that it has never been hacked and doesn't have any chances of being hacked. The 1inch exchange platform, unlike many platforms on the blockchain network have never suffered any security breach and it's usually seen that DEX like it hardly experiences such.
2. The exchange platform doesn't charge any fee for withdrawals, deposits and trades. The only time traders have to pay a fee is for the Gas they burn.
3. The exchange platform allows traders to Farm their token.
Honestly, the 1inch happens to be the first DEX I enjoyed ever since I started using one.
Pros
- The exchange platform don't charge a fee for withdrawals, deposits and trades made
- They allow traders to Farm their native token
- I find their interface quite easy to manipulate, although some people make complaints about it
- It can be very useful in swapping ERC-20 tokens
Cons
- The fact that they don't accept fiats isn't much of a problem though, making me to leave them with a 5 star rating
