Comparison of 1inch exchange vs Trader Joe [ 2024 ]

The best cryptocurrency exchanges compared by their commissions, products offered, security and much more. Here is the 1inch exchange vs Trader Joe comparison!

Your expert: Alejandro Borja

1inch exchange

1inch exchange

Your expert: Xavier Tarrasó

trader joe

Trader Joe

Main points

Fees

fluctuates
NFTs
Yes

Native token

Token 1INCH
0,30%

Fees

Yes
NFTs
Token JOE
Native token

Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.5 – Offers competitive rates by aggregating liquidity from multiple sources, but third-party service fees may apply for fiat conversions.
4.4 – Low fees on the Avalanche network, making it a cost-effective option for users.

Level

fluctuates
0,30%

Brief explanation

1inch Exchange is a decentralized exchange (DEX) aggregator that prides itself on offering a fee-free trading experience for its users. Unlike many traditional exchanges, 1inch does not impose its own fees on trades, deposits, or withdrawals. Instead, the only costs users incur are the network gas fees associated with executing transactions on the underlying blockchains such as Ethereum, Binance Smart Chain, or Polygon. These gas fees vary based on network congestion and can be reduced significantly by using the platform’s CHI Gas Tokens, which can lower transaction costs by up to 42%​​. The absence of additional fees is one of the standout features of 1inch. This means that users are only responsible for the fees charged by the decentralized exchanges that 1inch uses to execute trades. For instance, if a swap is routed through Uniswap, the user pays Uniswap’s fees, but no extra charges from 1inch itself. This model allows 1inch to provide highly competitive rates by aggregating liquidity and optimizing trading paths across multiple exchanges​​. Furthermore, 1inch generates revenue through a portion of the fees collected by its liquidity providers and from positive slippage on trades. This revenue model supports the platform’s operations without directly charging its users, making it an attractive option for cost-conscious traders seeking the best available rates across the decentralized finance ecosystem​​.
Trader Joe, a decentralized exchange on the Avalanche network, offers a competitive and transparent fee structure for its users. The platform charges a flat 0.3% fee on all trades, which is distributed as follows: 0.25% goes to liquidity providers, and 0.05% is allocated to JOE token farms. This structure incentivizes both liquidity provision and staking, ensuring that users who contribute to the ecosystem are rewarded. Additionally, users benefit from the low transaction costs inherent to the Avalanche network, typically ranging from 1 to 5 cents per transaction, significantly lower than Ethereum-based exchanges​​.

1inch exchange

Trader Joe

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Product selection

Native token

Yes, the native token is 1INCH.
Yes, the native token is JOE.

Earns

Yes, 1inch offers EARNs through liquidity mining, staking 1INCH tokens for rewards, and participating in governance.
Yes, Trader Joe offers EARN methods such as staking JOE tokens, yield farming, and lending/borrowing through Banker Joe.

NFT marketplace

No, 1inch does not have an NFT marketplace.
No, Trader Joe does not have an NFT marketplace.

Cripto/debit card

No, 1inch does not offer a debit card.
No, Trader Joe does not offer a debit card.

Company information

Full name

1inch Limited
Trader Joe

Regulation

No, 1inch exchange is not regulated by any specific financial regulatory authority.
No, Trader Joe is not regulated by any specific financial regulatory authority.

Year founded

2019
2021

Founder

Sergej Kunz and Anton Bukov
0xMurloc and Cryptofish

Payment methods

Transfers

Deposits: Credit card, wire transfer (via MoonPay), cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.
Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.

Mastercard

Yes, 1inch supports deposits via Mastercard through third-party services like MoonPay.
No, Trader Joe does not support direct deposits via Mastercard. It only allows transactions through wallet connections.

Wire transfer

Yes, 1inch supports deposits via wire transfer through third-party services like MoonPay.
No, Trader Joe does not support direct deposits via wire transfer. It only allows transactions through wallet connections.

Card

Yes, 1inch supports deposits via credit card, including Mastercard, through third-party services like MoonPay.
No, Trader Joe does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

1inch exchange FEATURES Trader Joe
Trades can be as small as the network allows, but gas fees may make very small transactions impractical. Ideal for moderate and large trades.
Minimum Trade
The platform has a moderate minimum trade requirement, which can be a barrier for micro-traders but is manageable for most users.
Offers competitive fees by aggregating different DEXs to minimize slippage and transaction costs, making it cost-effective.
Trading and Transaction Fees
Fees are competitive with industry standards, making it a cost-effective option for frequent trading.
Supports a vast array of cryptocurrencies by connecting with multiple DEXs, providing access to a wide variety of tokens.
Number of Cryptocurrencies
Trader Joe offers a vast array of cryptocurrencies, catering to diverse trading preferences and strategies.
Extensive range of trading pairs available due to its aggregator model, allowing users to trade across different liquidity pools.
Crypto-to-Crypto Trading Pairs
A wide variety of trading pairs are available, though it may lack some less common pairs found on larger exchanges.
The website provides detailed information on how trades are routed for best prices, though some users may find the depth of data overwhelming.
Website Transparency
The website provides essential information; however, it could improve in disclosing all operational and financial policies more clearly.
Supports multiple networks including Ethereum, Binance Smart Chain, Polygon, among others, enhancing its accessibility and utility.
Credit/Debit Card
Supports multiple networks, enhancing its functionality and user flexibility in transactions.
Does not provide custodial storage services; users must have their own wallets, which is secure but may be a barrier for new users.
Storage Offering
Provides secure storage options, though it may not offer as many features as specialized wallet services.
Offers governance token staking with voting rights and potential rewards, although the specifics and profitability can vary.
Staking and Rewards
Offers competitive staking options and rewards, although not the highest in the market.
The website is well-designed with comprehensive details on operations and services, though it can be complex for beginners.
Mobile App and Desktop
Trader Joe’s website is straightforward and functional, with a user-centric interface that emphasizes ease of navigation and access to trading tools.
Customer support is available, but responses can be slow during high traffic times. More resources for immediate support are needed.
Customer Service
Customer support is available but can be inconsistent. The platform provides basic support through FAQs and community forums rather than direct contact options.
As a non-custodial platform, deposits and withdrawals are managed through users’ wallets, offering high security but less convenience for some.
Deposit and Withdraw
Deposits and withdrawals are processed directly through the blockchain, offering users control over their transactions with network-dependent speeds and fees.

Key features

Analysis tools

Price aggregator, liquidity sources comparison, slippage protection, gas cost estimator, advanced order types, and historical data analysis.
Price charts, liquidity pool analytics, yield farming calculators, and trading volume statistics.

Mobile APP

Yes, 1inch has a mobile app available for both iOS and Android.
No, Trader Joe does not have a dedicated mobile app, but it can be accessed via mobile browsers.

Security

1inch employs advanced security measures, including smart contract audits and integration with secure wallets. The platform leverages decentralized liquidity aggregation, minimizing the risk of single points of failure.
Trader Joe leverages the Avalanche network’s security features, which include fast and secure transactions. The platform is audited and continuously monitored to ensure the safety of user funds and data.

Additional features

1inch offers gas fee refunds for certain trades, DAO governance for community decision-making, a referral program, and its own 1INCH token used for governance and staking.
Trader Joe features lending and borrowing through Banker Joe, decentralized leverage trading, a launchpad for new projects, and its native token, JOE, which can be staked for governance and rewards.

Anonymity

No, 1inch does not allow anonymous account creation. Users need to connect a wallet to use the platform, but no personal identification is required.
Yes, Trader Joe allows users to trade anonymously by connecting their wallets, without personal identification requirements.

Key points

Available cryptocurrencies

Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), USD Coin (USDC), and many ERC-20 tokens.
Avalanche (AVAX), Trader Joe (JOE), Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and numerous Avalanche-based tokens.

User-friendliness

1inch is known for its user-friendly interface and robust functionality, making it accessible for both beginners and experienced traders. The platform aggregates liquidity from various sources, ensuring competitive rates, but the complexity of some advanced features might be overwhelming for absolute newcomers.
Trader Joe combines ease of use with a comprehensive set of DeFi tools. The platform is designed to be accessible for beginners while still offering advanced features for more experienced traders. Its intuitive design makes it a good starting point for new users.

Value for money

1inch offers excellent value for money by aggregating liquidity from multiple sources to provide users with the best possible rates and lower slippage. Its unique tokenomics and occasional gas fee rebates further enhance its cost-effectiveness.
Trader Joe combines low fees on the Avalanche network with a wide range of DeFi services, including staking and lending, providing significant value for money. Its comprehensive offerings and community rewards enhance its cost-effectiveness.

Countries of operation

Available globally, no specific country restrictions.
Available globally, primarily used in regions supporting Avalanche.

Best for

Ideal for experienced traders and investors who are looking for the best possible rates and minimal slippage across multiple DEXs. It’s also suitable for those who appreciate advanced trading features and want to maximize their returns through optimal liquidity aggregation.
Suited for users who are looking to take advantage of a comprehensive DeFi ecosystem on the Avalanche network. Its wide range of services, from trading to lending and staking, appeals to both new and seasoned investors.

Account

Trading

1inch is a decentralized exchange aggregator that finds the best prices across various DEXes, ensuring optimal trade execution. The platform supports a wide range of cryptocurrencies and offers low slippage, making it suitable for both small and large traders. However, its interface can be complex for beginners.
Trader Joe is a popular DEX on the Avalanche network, offering fast and cost-effective transactions. It has a comprehensive set of DeFi tools, including staking and lending. While it is great for Avalanche network users, it is less known outside this ecosystem, affecting its overall liquidity.

Deposit and withdrawal

1inch Exchange does not handle deposits or withdrawals directly as it aggregates liquidity from various DEXes. Users connect their wallets (like MetaMask) to trade, ensuring funds remain in their control. While this enhances security, it requires users to manage their wallets and transaction fees independently.
Trader Joe on the Avalanche network supports deposits and withdrawals through Avalanche-compatible wallets like MetaMask and Avalanche Wallet. The network’s low fees and fast transactions make the process efficient. However, users need to manage their wallets and private keys, ensuring security and proper handling of transaction fees.

Account opening process

1inch Exchange does not require a traditional account opening process. Users simply connect their crypto wallets, such as MetaMask, Ledger, or Trust Wallet, to start trading. This decentralized approach ensures user privacy and control over funds but requires familiarity with wallet management and security.
Trader Joe on the Avalanche network requires users to connect Avalanche-compatible wallets such as MetaMask or Avalanche Wallet to start trading. The setup is quick and does not involve creating an account, making it user-friendly. However, users need to manage their wallet security and transaction fees independently.

KYC required?

No, KYC is not mandatory for basic use through wallet connections.
No, KYC is not mandatory for using the platform.

Customer Service

1inch Exchange, as a decentralized platform, does not offer traditional customer service. Instead, users can find support through community forums, social media channels, and extensive documentation available on their website. While this decentralized support model promotes user self-reliance, it may not be sufficient for those who prefer direct customer support.
Trader Joe on the Avalanche network offers support primarily through community channels like Discord and Twitter, as well as a help center with extensive documentation. While the community is active and supportive, users needing direct customer service might find the available support options limited.

Security

1inch employs advanced security measures, including smart contract audits and integration with secure wallets. The platform leverages decentralized liquidity aggregation, minimizing the risk of single points of failure.
Trader Joe leverages the Avalanche network’s security features, which include fast and secure transactions. The platform is audited and continuously monitored to ensure the safety of user funds and data.

Which of these exchanges is for you?

As an expert in the field, I highly recommend 1inch Exchange for traders looking for efficient and cost-effective crypto trading solutions. Its ability to aggregate multiple decentralized exchanges ensures users not only get the best prices but also benefit from reduced slippage. While it may appear daunting for beginners, the security and cost savings it offers make it a valuable tool for seasoned traders aiming to optimize their trading strategies across various networks.
As a seasoned expert on our website, I highly recommend exploring Trader Joe as a decentralized crypto exchange. Its integration on the Avalanche blockchain ensures a seamless trading experience, which is pivotal for those interested in the burgeoning DeFi space. Additionally, Trader Joe distinguishes itself with its dual functionalities as both an exchange and an automated market maker. This unique combination offers users fluid liquidity options and trading pairs that are responsive to the market’s dynamic needs. Whether you’re looking to dive into decentralized finance or seeking a platform that offers robust trading capabilities, Trader Joe is a noteworthy option to consider.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong, any exchange can have problems.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives 1inch exchange and Trader Joe

Comparison of 1inch exchange vs Trader Joe [ 2024 ]