Gate.io Exchange Review
Gate.io lets you virtually buy crypto and sell them, but is this the right platform for you? Find out in this Gate.io review.
- Operating Since 2013
- Cryptocurrencies Supported 1,200+
- Fees 0%-0.04%
- Deposit Methods Bank transfer, credit/debit cards, and more!
- Fiat Currencies USD, EUR, GBP
- Verification Methods Know-Your-Customer process
- Margin Trading Yes
- Futures Trading Yes
- About the Company
- Quick User Registration
- Bitcoin and Other Supported Cryptocurrency
- Trading Fee Structure and Limits
- Gate.io Trading Features
- Earn Money by Lending Cryptocurrency
- Platform Security
- Customer Support
- Gate.io Community
- Pros & Cons
- Frequently Asked Questions (FAQ)
- Gate.io Exchange Review for Australia
- Gate.io Exchange Review for Canada
- Gate.io Exchange Review for UK
Gate.io, a cryptocurrency exchange platform, provides investment and trading services for digital assets in over 190 countries worldwide. Gate.io has become one of the fastest-growing exchanges globally. The platform offers more than 1,200 coins and tokens on its spot market, making it the most versatile exchange.
Gate.io ranks as the leading Initial Offering Exchange (IOE) platform with diverse financial management services. Besides cryptocurrencies, the platform promotes margin trading, futures, perpetual contracts, and crypto lending and borrowing.
About the Company
In 2013, Lin Han founded Gate.io in China. In 2015, the exchange was hacked and lost 7,000 Bitcoins, but the company’s problems did not stop there.
Gate.io had to rebrand in 2017 after the Chinese government banned fiat to cryptocurrency exchanges. Subsequently shutting down the old domain, the company dropped support for all fiat currencies and trading pairs.
After moving its headquarters to Virginia, USA, the company started using its new domain. Following the rebrand, Gate.io became an instant success with innovative ideas like IEO.
Gate.io remains unregulated. Over 3,500 Bitcoin trades take place on the platform each day. Additionally, Gate.io’s parent company recently raised more than $64 million for its upcoming DEX project. Today, the exchange platform has over 10.5 million users.
Note: Citizens and residents of the United States, Canada, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, Crimea, Bangladesh, Bolivia, Ecuador, Kyrgyzstan are not supported.
Quick User Registration
Creating an account on Gate.io is easy. Simply fill in the region, provide a valid email address, choose a username, and create two passwords. Remember that the first password lets you log in, and the second one is required for withdrawals.
Keep in mind that the exchange makes verifying your identity mandatory after signing up. Many of the site’s features remain locked, including easy deposits and withdrawals.
Bitcoin and Other Supported Cryptocurrency
The Gate.io platform supports more than 1,200 cryptocurrencies, making it easy to find any coin that interests you.
Popular cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Binance Coin (BNB), Terra (LUNA), Polkadot (DOT), Litecoin (LTC), Tron (TRX), Ripple (XRP), EOS (EOS), Cardano (ADA), etc.
Supported fiat currencies include the United States Dollar (USD), Euro (EUR), Pounds (GBK), Honk Kong Dollar (HKD), Singapore Dollar (SGD), Australian Dollar (AUD), Swiss Franc (CHF), and the Mexican Peso (MXN).
Use caution when buying lesser-known cryptocurrency with low trading volumes. In some instances, you may lose the investment, or it may not be easy to resell for a profit.
Trading Fee Structure and Limits
Gate.io fees use the taker and maker model. Users pay fees depending on whether the order takes liquidity away (taker) from the exchange or adds (maker) to the exchange. Note that you have no way of knowing in advance if your order will be a taker or a maker.
Futures have a taker fee of 0.04% and a maker fee of 0%. Spot and margin trading rates come in at 0.20%. In comparison, the average industry rate is 0.25%.
GateToken (GT) holders receive discounts based on their holdings and trading volumes. By paying for trades using GT, you can further reduce the taker fees to 0.15%.
Gate.io withdrawal fees are affordable and fair. The platform charges a fee for each withdrawal, and fee amounts depend on the type of cryptocurrency. For example, Bitcoin withdrawal costs 0.001 BTC, whereas Ethereum costs 0.011 ETH.
Gate.io processes all withdrawals instantly but imposes withdrawal limits. Each transaction has a limit of 100 BTC per day. After KYC verification, contact the support team to raise the withdrawal limit.
The exchange only accepts cryptocurrency for deposits. As a result, new crypto users are not allowed to trade here. However, new users have a workaround by purchasing cryptocurrencies on another exchange and then depositing them here.
Lastly, Gate.io offers discounts via points. Easily use these points to reduce trading fees down to 0.06%. One point equals 1 USDT in trading fee deduction. Users can leverage and exchange their points but cannot transfer or withdraw them.
Earning points is easy. All you have to do is complete tasks. Make a deposit, verify your account, or complete a fiat transaction to earn rewards.
Gate.io Trading Features
Although the Gate.io trading engine is powerful, the interface appears cluttered. Gate.io offers an interface similar to Binance, Coinbase, and KuCoin, so experienced traders will have no trouble switching.
Gate.io gives you the option of choosing between a standard or professional user interface. Gate.io has collaborated with TradingView charts to offer tools and features needed for cryptocurrency analysis. The window displays the current market’s charts, while your order book is to the right.
Use the tools built into the platform to become a better trader. Cryptocurrency analysis can help you manage risk. Margin trading allows for 10x leverage on spot trades and 100x leverage on futures.
Gate.io offers Exchange Traded Fund (ETF) leveraged tokens. Leveraged tokens are suitable for users seeking returns within a short period. ETFs are similar to margin trading, except you do not have to pay interest.
Gate.io provides copy-trading. Copy-trading lets you copy top-performing crypto traders by replicating their strategies into your portfolio. While it does not guarantee a positive outcome, it still serves as a useful tool for beginners to learn how to trade cryptocurrencies.
Another convenient feature, Flash Swap, lets you swap one currency for another. Swap exchanges cost slightly more on the platform, but the service is free.
Push transactions allow users to send or receive cryptocurrency from other users. The service is a P2P exchange, and a fee of 0.20% applies.
Gate.io users have access to a dedicated Non-Fungible Tokens (NFT) marketplace to trade with ease. NFTs have become valuable collectibles in the crypto market. A lot of NFTs are made through the Ethereum Blockchain, and Gate.io is used to sell and trade them.
Finally, the perpetual contract includes a demo mode for new users. By practicing using the platform’s testnet software before using real currency, users can gain experience and better understand the platform. Find out how to earn money on the platform by reading this Gate.io exchange review.
Earn Money by Lending Cryptocurrency
Gate.io offers users a great way to earn passive income from their holdings. Exchange users can deposit and earn a 3.65% APR interest rate on their savings. Furthermore, consider lending out your cryptocurrency assets if you have no immediate plans to sell.
Gate.io’s lending platform uses peer-to-peer technology to enable users to lend cryptocurrency assets. Lenders and borrowers can enter into a loan agreement without an intermediary. The default loan term is ten days.
Cryptocurrency lending generally results in larger returns than a traditional savings account. Lenders can set interest rates and earn a stable profit from annual interest. Daily interest rates range between 0.01% and 1%.
Gate.io also offers a periodic investment plan that leverages Tether (USDT) strategically to purchase cryptocurrency. Invest USDT in your cryptocurrency portfolio on a fixed schedule or every month. Build your financial investment gradually on a safe and reliable platform.
The Gate.io exchange rewards its users for regularly utilizing its services. Rewards are given when you meet specific conditions, such as simply transferring your first funds for trading.
In particular, Gate.io’s HODL & Earn system offers crypto asset holders fixed and flexible term interest on their assets. Crypto investors are rewarded within 7-28 days, depending on the selected arrangement.
Gate.io uses industry-standard security protocols to keep your accounts safe. Security features smartly integrate into the platform to ensure protection from online threats.
Gate.io keeps accounts secure using two-factor authentication (2FA) via SMS or an authenticator application. Other measures include sign-in verification, IP whitelist access, anti-phishing codes, and withdrawal passwords.
Gate.io offers its users the ability to use its digital wallets to make trading even more convenient. Wallet.io is an ultra-secure cryptocurrency wallet that supports 2FA. For added security, users must approve instant withdrawals.
Gate.io users can also store their funds in wallets. Be aware that hot wallets do not make the most secure option, so avoid storing all your holdings there. Keep your holdings safe in the cold wallet.
Gate.io has an online support center to help users. It includes an extensive knowledge base with step-by-step guides and tutorials. Users can also follow real-time cryptocurrency market news.
Customer support is available around the clock. Gate.io offers 24/7 live chat and an email ticketing system. Alternatively, you can get in touch with support on Telegram or Talk.
Trustpilot, a trusted third-party review website, has given Gate.io 2.3 stars out of 5. Reviews and feedback have mixed reactions. Gate.io does respond to negative reviews but does not actively use this platform.
Gate.io provides a strong sense of community among its users. The exchange allows you to create a profile page where you can follow and interact with other users. Additionally, forums and chat rooms are available for exchanging ideas.
Pros & Cons
- Access to a wide range of digital currencies
- Futures trading up to 100x
- Reliable IOE platform
- Discounts for GateTokens
- Low fees
- Cold storage
- 24/7 customer support
- Great functionality and ease of use
- Platform is not regulated
- 10x leverage limit
- No support for fiat deposits
- Can be confusing for beginners
Frequently Asked Questions (FAQ)
What is Gate.io?
Gate.io is a digital exchange offering crypto-to-crypto trading of numerous cryptocurrencies and altcoins.
Is it mandatory to verify a Gate.io account?
Yes. Users can make deposits without a KYC but require verification to make withdrawals. KYC verification takes two steps. Upload a picture of yourself and provide a valid government-issued ID. While at it, you should enable Google authenticator to secure your account even more.
Does Gate.io have a mobile app?
Yes. Gate.io offers mobile apps for both Android (Google Play) and iOS devices. The mobile app connects to the main Gate.io application giving users access to the entire platform and all its features.
What is the Gate.io Startup IOE Platform?
Gate.io’s IOE platform has become a popular way for users to invest in promising new projects. Startup investors have seen high returns. Based on CryptoRank data, the average Return on Investment (ROI) is 152.71%.
Did Gate.io have a security breach?
Yes, 7,000 Bitcoins were stolen from the old domain, but there was another security breach in 2019. Gate.io acted quickly and recovered all the missing funds. Since then, Gate.io has taken measures to make the platform secure.
Is Gate.io a safe platform?
This is probably the most frequently asked question (FAQ) that we always receive. Gate.io is a safe and secure trading platform. The company is on CER’s list of top 100 cybersecurity exchanges, providing comprehensive security features along with verification tests to prevent scam. You need to consider one drawback: the company remains unregulated.
Can US residents use Gate.io?
Yes, US citizens can use Gate.io without any issue. But because of US regulation red tape, some features are not available. Moreover, Residents of Washington and New York states are entirely banned from using Gate.io.
What are the payment methods available?
Gate.io has recently introduced the possibility to buy crypto assets via bank transfer and 3rd-party partners, using credit card or debit card payments in fiat currencies. The partners transfer your crypto assets to a Gate.io account. Just take note that this process may involve paying incredibly high deposit fees.
Gate.io Exchange Review for Australia
Gate.io is one of the best crypto exchanges in the crypto space. The platform enables its users to easily purchase digital assets at market value or use one of the more advanced crypto trading options, which include perpetual contracts trading, futures, margin trading, and even crypto borrowing and lending.
The Gate.io crypto exchange started operating in 2013. Initially headquartered in China, Gate.io later moved to the US, where it sees an enormous daily trading volume. From its headquarters in Cayman Islands, the exchange now supports over 1,200+ crypto assets for trade and about 30 for direct purchase.
Gate.io is among the few crypto exchanges to support crypto traders from Japan and other strict countries, where political and legal issues have caused problems for many industry peers. All in all, Gate.io is not the least expensive crypto exchange out there, but it has stood the test of time.
Just in case, you don’t find Gate.io interesting, don’t worry because we’ve written a list of the best Australian cryptocurrency exchange platforms right now.
Gate.io Exchange Review for Canada
First of all, Canada is on the list of disallowed countries under Gate.io’s terms so we don’t recommend it.
But don’t worry, because we’ve made an easy-to-read, best Canadian cryptocurrency exchanges review for you.
Gate.io is one of the top cryptocurrency exchanges in the crypto industry. Gate.io allows its customers to easily buy crypto assets at market value and use one of the more advanced cryptocurrency trading features such as futures, margin trading, perpetual contracts trading, as well as financial services like crypto borrowing and lending.
The exchange started operating back in 2013 and was initially headquartered in China. Now, they are located in Cayman Islands where they support more than 1,200 cryptocurrencies for trade and around 30 for direct purchase.
Gate.io is one of the few cryptocurrency exchanges to support crypto-strict countries, where political and legal issues have caused problems for many crypto traders and investors. To sum it up, Gate.io is not your typical cheap crypto platform, but it has established itself as one of the best crypto exchanges out there!
Gate.io Exchange Review for UK
Gate.io is among the top cryptocurrency trading platform that was established in 2013 as Bter.com. In 2017, the crypto company rebranded as Gate.io. The crypto exchange was originally based in China, but is now located in Cayman Islands.
One crucial aspect of Gate.io is that it is not a regulated crypto exchange. Meaning, there’s no oversight for the exchange, which ultimately increases the risks of using it. But the good news is that the exchange offers a wide range of cryptocurrencies for trading along with competitive trading fees.
Gate.io allows its customers to easily buy crypto assets at market value and use one of the more advanced cryptocurrency trading features such as futures, margin trading, perpetual contracts trading, as well as financial services like crypto borrowing and lending.
Gate.io also specializes in smaller market cap crypto assets that many regulated exchanges won’t list. Overall, Gate.io is not a cheap crypto trading platform, but it has prove itself as one of the top cryptocurrency exchanges in the crypto space.
On a side note, if you’ve already tried Gate.io and not satisfied with the exchange for some reason, you might want to check our complete guide of the best cryptocurrency exchanges to buy Bitcoin In the UK.
Gate.io is a worldwide exchange platform to trade and invest in cryptocurrencies. Like other popular crypto exchanges, the platform does high-volume trading. This exchange does offer crypto lending or staking, options, futures, or margin but it’s still perfect for users of various skill levels and expertise.
Gate.io is a powerful financial management platform. Experienced users can take advantage of its extensive trading, lending, and borrowing features. The company has expanded into other markets such as spot, ETFs, flash swap, futures, and derivatives.
As we conclude our Gate.io review, the platform receives good scores from us. Some things have us concerned, such as bad user reviews and the lack of service in many countries.
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