So, what is 1inch Network?
"The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space.
As a governance and utility token, 1INCH facilitates multiple tokenomics. It enables users to govern protocols and participate in the network's evolution and serves as a connector utility token in the 1inch Liquidity Protocol for high-efficiency routing.
The 1INCH token enables protocol governance, allowing 1INCH stakers to vote for and receive rewards. The token is applied in different capacities in the two existing protocols and will be used in the tokenomics of all new protocols released by the 1inch Network. 1INCH is a multichain token, currently available on Ethereum and on Binance Smart Chain (BSC) over a bridge."
How to buy or sell 1INCH on CoinMetro
How to receive/deposit 1INCH
For all in-depth information on how to deposit 1INCH into your CoinMetro account, please click here.
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
Note: As CoinMetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
How to send/withdraw 1INCH
For all in-depth information on how to withdraw 1INCH from your CoinMetro account, please click here.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
We hope this article has given you all the information you need on buying, selling, depositing and withdrawing 1INCH.
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