Crypto news
25 November, 2022

Banxa announces collaboration with reputable decentralized exchange (DEX) aggregator 1inch offering the most payment methods for users

Banxa announces collaboration with reputable decentralized exchange (DEX) aggregator 1inch offering the most payment methods for users

Banxa and 1inch have teamed up to create greater access to decentralized finance (DeFi) assets and streamlined user experience. As one of the most popular decentralized exchange (DEX) aggregators, 1inch aims to provide traders with the lowest fees on their transactions. Banxa now has over 100 partners within its rapidly-expanding ecosystem, providing their users the ability to purchase crypto currencies with the widest variety of global and local payment methods .

The 1inch Aggregation Protocol has a smart routing algorithm Pathfinder that automatically directs trades to various platforms with the best prices, enabling traders to use a single platform while comparing prices and executing transactions across the entire DEX landscape. 1inch also offers the Limit Order Protocol that facilitates the most innovative and flexible limit order swap opportunities in DeFi. The protocol’s features, such as dynamic pricing, conditional orders and extra RFQ support, power various implementations, including stop-loss and trailing stop orders, as well as auctions.

As the premier global Web3 on/off ramp solution, Banxa will make transactions on 1inch more seamless for consumers than ever before. The integration is poised to significantly enhance the 1inch customer experience, as Banxa opens up an array of global and local payment options for consumers to choose from. 

“This cooperation reflects our commitment to make it easier for businesses to onboard users to the crypto economy,” says Holger Arians, CEO of Banxa. “We select prominent partners like 1inch to further our mission of enabling more individuals across the globe to participate in the digital assets ecosystem – from DeFi to NFTs and more.”

The 1INCH token boasts a market cap of over $300 million.

Key benefits from this collaboration include:

  • Alternative payment methods (APMs): Banxa’s vast network of compliant local payment solutions will give 1inch access to global audiences with less friction.
  • Strong and quick fulfillment: Over 90% of Banxa orders are processed in under 30 minutes. 
  • High conversion rates: Banxa offers the most payment methods of any marketplace provider, resulting in conversion rates up to three times higher than credit card only solutions.

Black Friday Promotion – Zero Processing Fees

Banxa and 1inch Network is excited to announce a joint promotion campaign for the 1inch Wallet’s Android version.

Banxa enables 1inch Wallet users to buy crypto for fiat within the app. It boasts an array of global and local payment methods, from Visa/Mastercard to Google Pay, plus multiple local bank transfer options.

For two weeks, users who purchase crypto for fiat with Banxa via the 1inch Wallet will pay no processing fees! 

The promo period ends at 11:59pm on December 7, 2022 (UTC).

How to buy crypto with Banxa:

  • Open your 1inch Wallet on Android and go to the “Buy crypto” section.
  • Click the “Select token” tab and choose your purchase currency.
  • Select “Payment provider” and choose Banxa.
  • You will be taken to Banxa

Please, note that network fees and gateway fees will still be applicable. The table below shows payment options supported by Banxa and the respective gateway fees.