Gate.io Review - Everything You Need to Know About The Gate.io Crypto Exchange
Gate.io is a crypto-to-crypto exchange that allows you to trade over 180 different cryptocurrencies. And at such a cheap cost. To mention a few, the main cryptocurrencies include Bitcoin, Ethereum, Litecoin, Tether, Cardano, Uniswap, and Aave.
Gate.io exchange has many advantages, including cheap fees, a large crypto collection, a variety of trading choices, and mobile support.
In a nutshell, it is Gate.io. Follow along as we go through each element in depth in our Gate.io review. Is Gate.io secure? In which countries does it work? What are the benefits of using Gate.io? All of these questions, and many more, will be addressed.
Gate.io Exchange Review
Gate.io is one of the first cryptocurrency exchanges. Lin Han started it in China in 2013. Bter.com was the previous name for Gate.io. After the Chinese government prohibited fiat-to-crypto transactions in 2017, the site was renamed as Gate.io. Following the renaming, Gate.io concentrated on crypto-to-crypto and Chinese yuan OTC transactions.
Gate.io is currently an unregulated exchange. In terms of volume and market liquidity, it has a daily volume of about 3500 BTC. Gate.io’s parent business, Gate Technology Inc., received $64 million in cryptocurrencies in its most recent financing round in 2019. Gatechain Decentralized Exchange (DEX) and its IEO platform – Gate.io Startup – received these funding.
Gate.io now supports over 180 coins and over 400 cryptocurrency marketplaces. Major cryptocurrencies, DeFi coins, stablecoins, you name it, Gate.io exchange has everything. When it comes to trading, Gate.io provides both basic and sophisticated trading options such as margin trades and everlasting contracts.
The greatest aspect is that Gate.io has a cheaper cost structure than other exchange platforms. In terms of accessibility, Gate.io enables you to trade using both their website and their specialized mobile applications for both Android and iOS smartphones.
In This Review
Gate.io Exchange Features
1. A Diverse Range of Cryptocurrencies
Gate.io offers a large selection of cryptocurrencies. Over 180 different cryptocurrencies are listed on the exchange. The most significant aspect is that it has over 400 distinct cryptocurrency marketplaces.
Among the main cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), and Defi coins such as Uniswap (UNI), Aave (AAVE), and others.
2. Several Option Trading
Gate.io provides a plethora of cryptocurrency trading alternatives. You may trade in cryptocurrency markets, margin trade with up to ten times leverage, and margin lend or borrow money.
Furthermore, you may trade futures using everlasting smart contracts. Gate.io also allows you to engage in long-term investment programs. When it comes to investing, you can also use CEOs (Initial Exchange Offerings) via the Gate.io Startup platform to invest in the hottest crypto ventures.
3. Reasonably Low Fees
Gate.io charges a fee of 0.2 percent of the entire order value. This is lower than the majority of exchanges available. Gate.io also provides several discounts to active traders. In a nutshell, reduced fees and trade discounts make purchasing cryptocurrency cheaper.
4. Customer Service is available 24 hours a day, seven days a week.
Gate.io offers a live chat function that is available 24 hours a day, seven days a week. Aside from that, the exchange includes an informative FAQ section and a New User Guide. All of your typical questions will be answered here. If you still have questions, you may send support requests on the Gate.io website.
Signing Up With Gate.io
Signing up with Gate.io is a simple procedure. Here’s how to sign up for a Gate.io account:
Step 1 – Register
- Visit the official website of Gate.io.
- Click the Sign-up button in the upper-right corner.
- In the sign-up form, enter your username, email address, and password. Later, you must establish a Fund password (which is needed to withdraw your money) that is distinct from your login password.
- Now, agree to the user agreement and click the ‘Create account’ button.
- You must then validate your email address. Go to the inbox of the email address you provided during the login procedure and confirm it.
- That’s all there is to it; you’ve successfully established your Gate.io account.
Step 2 – Confirmation
You may begin trading on Gate.io without completing the KYC verification process. However, in order to improve security and enable deposit and withdrawal features, you must complete your KYC verification.
- Please sign in to your Gate.io account.
- Navigate to your account settings.
- Give your government-issued identification, such as a passport, driver’s license, or identity card. The name on your
- Gate.io account must match the name on your I.D.
- After you’ve entered all of the required information, you’ll need to wait a few hours for confirmation. The authentication procedure may take anything from 30 minutes to 12 hours.
Fees for using Gate.io
Gate.io offers a reasonable pricing structure. However, withdrawal fees for cryptocurrencies like BTC, XMR, and XRP are prohibitively costly. Furthermore, the maker and taker fees are not as appealing. Nonetheless, the savings are a significant plus. When compared to other cryptocurrency exchanges, Gate.io fees are quite cheap.
Here is a comprehensive explanation of the Gate.io pricing structure –
Deposits are free at the Gate.io exchange.
Fee for trading
- For spot and margin transactions, Gate.io charges a flat 0.2 percent fee.
Fee for Withdrawal
- Withdrawal costs are determined by the coin from which you want to withdraw.
The following are the withdrawal fees for major cryptocurrencies:
- Bitcoin (BTC) – 0.001 BTC – 0 percent
- Litecoin (LTC) – 0% – 0.0012 LTC
- Ethereum (ETH) – 0% – 0.0024 ETH
- Ripple (XRP)– 0% – 2.4 XRP
Fees for Makers and Takers
Gate.io levies 0.2 percent maker and 0.2 percent taker fees. The maker charge for perpetual contract transactions is -0.025 percent (paid in BTC), while the taker cost is 0.075 percent.
Discounts Gate.io provides trading discounts to its customers depending on their 30-day trading volume. This pricing system is tier-based, with VIP 0 receiving no discounts and VIP 10 receiving a 50% discount.
Aside from this tier-based discount, Gate.io also provides a Point plan reduction for trading costs. You will get a 1 USDT charge reduction for each point you possess. To get these points, you must first buy them using your Gate.io wallet.
Withdrawals and Deposits
Gate.io is a cryptocurrency exchange. The platform does not accept fiat currency deposits. This means that in order to trade on Gate.io, you must first purchase cryptocurrencies on another platform and then transfer your money to Gate.io. The inconvenience is worth it given Gate.io’s functionality and cheap costs. Deposits are also free at Gate.io.
Withdrawal costs vary depending on the cryptocurrency. On Gate.io, there are withdrawal restrictions. You may, for example, withdraw up to 100 BTC each day. To raise this limit, you must submit all of your KYC papers as well as a request for increased withdrawal limits.
When it comes to speed, the processing time is determined by the speed of the blockchain. Deposits and withdrawals are often handled quickly.
The Benefits and Drawbacks of Gate.io Exchange
- There are around 180 cryptocurrencies and 400 marketplaces.
- There are many trading alternatives available, including margin trading with up to 10x leverage.
- Excellent client service Startup platform for IEO
- Fees are low.
- There is no fiat support.
- There is no information on the team.
- Designed for seasoned traders
- The exchange that is unregulated