Gate.io

Gate.io Review

What Is Gate.io?

Gate.io is a Chinese cryptocurrency exchange that launched in 2017. The exchange is available in English and Chinese (the latter being very helpful for Chinese investors). Gate.io’s main selling factor is its wide selection of trading pairs. You can find most of the new altcoins here. Gate.io also demonstrates an impressive trading volume. It is one of the top 20 exchanges with the highest daily volume. The trading volume amounts to approx. USD 100 million daily. In terms of trading volume, the top 10 trading pairs on Gate.io usually have USDT (Tether) as one part of the pair. Users will find 1,400+ cryptocurrencies and tokens to trade from using various exciting trading products.

Gate.io Trading View 

The user interface of the website is simple and intuitive. It is possible to quickly discover the site's functions without digging through multiple menus. Navigating between various parts of the site is also very straightforward. One can easily access the crypto market, margin trade, lend, borrow, perpetual contracts, IEO platform, wallet overview, and more.

The markets are easily found using the search function or the main menu. Switching between markets is straightforward by scrolling the Markets tab on the left. Consequently, you'll find the trading charts in mid-screen. The platform allows you to choose between simple and professional (TradingView). The right side of the screen is reserved for the order book, while the bottom is dedicated to placing your orders. Aside from the regular orders, we can also place Iceberg or Immediate-or-cancellation (IOC) orders!

Margin Trading

Gate.io offers leveraged trading on its trading platform. While Gate.io does offer traditional margin trading, it charges high fees, has very low leverage limits (1:100) and is currently restricted to customers residing outside of the United States. 

For instance, let’s say that you have 10,000 USD in your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value by 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value by 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk-free profits).

Spot Trading and Derivatives Trading 

As well as offering some excellent margin trading options, customers can take advantage of excellent fees for spot trading. With so many coins available, spot trading at Gate.io is exceptional. Spot trading can be done using four main currencies: USDT, USD, BTC, and ETH. 

Those traders who want to participate in higher-risk trading should go to the Gate.io derivatives trading options. The platform started with a focus on leveraged trading but has since added spot trading and a range of other options. These include:

• Perpetual Futures
• Delivery
• European-Style Options
• CBBC (callable bull/bear contracts)
• Copy Trading

Supported Cryptocurrencies and Tokens

Gate.io supports a huge number of cryptocurrencies and tokens, with access to around 1,400. This means that customers can find nearly any cryptocurrency they’re interested in purchasing digital assets on this platform. Some of the top cryptocurrencies listed include:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• Dogecoin (DOGE)
• Elrond Egold (EGLD)
• Cardano (ADA)
• Litecoin (LTC)
• Tether (USDT)
• USDC (USD Coin)

For those that want to see the complete list of available cryptocurrencies at Gate.io, click here. Be aware that Gate.io offers so many coins, and you’ll find some lesser-known coins with low trading volumes, meaning you can enjoy all kinds of coins with this unique exchange. 

Security 

Traders can deposit funds into Gate.io without having to worry about KYC regulations. Cryptocurrency exchanges are not immune to hacks, however. In 2019, Gate had an incident where hackers stole over $270,000 worth of cryptocurrency. However, around half of this amount was later recovered.

For greater security, gate.io includes two-factor authentication through SMS and email and requires users to create a unique withdrawal password to withdraw funds from their accounts. In addition, gate.io offers bug bounty rewards for reporting any bugs or vulnerabilities that could lead to additional security on the exchange. Like most other exchanges, gate.io stores clients' assets offline to minimize the risk of theft.

KYC/AML Process

The KYC process is an important part of any cryptocurrency exchange. By verifying your identity, they can ensure that no one tries to steal your coins or do something illegal with them. They also ensure that only verified users can trade on their platform.

Gate.io Fees

This particular trading venue doesn’t charge different fees between takers (normally called a taker fee) and makers (normally called a maker fee). This exchange’s fee model is a “flat fee model.” The flat trading fee is set at 0.20%. This fee is slightly below the industry average. The industry average is arguably around 0.25%.

Gate.io Deposit and Withdrawal Fees

Many exchanges have competitive trading fees but hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and are looking to buy a house with bitcoin. To buy that house, you need to withdraw the funds. And when doing so, BAM! The exchange can make up for its lost income with lower trading fees.

Gate.io is a fair player in this regard and charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is around 40% lower than the industry average, as the industry average is arguably around 0.0008 BTC per BTC withdrawal. Accordingly, the withdrawal fee charged by this exchange is quite competitive.

Deposit Methods

Gate.io allows users to purchase cryptocurrencies with a credit card or debit card. However, it does not support fiat currencies such as USD or EUR. Because the exchange does not accept fiat, new crypto investors are restricted from trading here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. 

Are US Investors Permitted?

The Gate.io exchange isn’t available to US players on its primary platform. However, the Gate.io development team decided to launch Gate US, a crypto exchange specifically for US users that has been operational since March 2022. 

Gate.io NFT Marketplace

Unlike most of its rivals, Gate.io does not rely on hype or speculation. Rather, it focuses on providing an easy-to-use interface for buying and selling digital assets. In addition, the company provides a low commission rate (0%) and a secure wallet service. Therefore, artists can focus on creating quality art without worrying about technical issues. Currently, Gate.io boasts more than four million monthly active users, and around 25% of those are regular buyers and sellers.

Gate.io NTF Magic Box is a platform where people can create and trade digital collectibles called Non-Fungible Tokens (NFT). These tokens represent unique items such as paintings, statues, cars, houses, etc. You can also buy these NFTs directly from artists who sell them directly. In addition, Gate.io often holds auctions where you can win exclusive prizes for your favorite NFTs. So if you're interested in buying an NFT, keep checking their website!

Gate.io Earn

Gate.io like many other top-tier online crypto providers, Gate.io is now offering a first-class Earn program, allowing customers to earn free digital assets for holding their funds with this provider. The Earn options are split into three categories and are extensive. The breakdown is as follows:

Earn

• Lend & Earn
• HODL & Earn
• Structured Products
• Auto-Investment
• Crypto Lending

Loan

• Crypto Loan
• Margin Borrowing

Mining

• Liquidity Mining
• Lending & Single-Asset Vault
• Cloud Mining
• Slot Auctions

The risk involved in each earned product will vary based on the average yield percentage displayed alongside it. We would advise thoroughly reading about these products before committing your funds to them.