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Gate.io Review: Exchange With A Complete System And Reliable

11 mins 1 month ago Oct 23, 2023
Author: Mohammed Yousuf Syed
Gate.io Review: Exchange With A Complete System And Reliable
Gate.io is a Chinese exchange with a long history in the cryptocurrency industry. The exchange’s ecosystem is quite complete with a full range of services. However, the floor is considered more suitable for professional traders than novices. Let us learn more about Gate.io through this Gate.io review.

About Gate.io

Gate.io is one of the oldest exchanges from China, with the first name Bter.com in 2013, under the leadership of CEO Lin Han. Bter.com in 2015 was hacked. Damage at that time was estimated at up to 7000 BTC in cold wallet lost.

Because of the strict regulations on virtual currencies of the Beijing government, in 2017 the name Gate.io was officially born. This is a milestone marking the abandonment of fiat currency trading and the shift of development goals to crypto-crypto trading. Gate.io is currently operated by Gate Technology Inc. Corporation, headquartered in Virginia, USA.

Gate.io allows blockchain enthusiasts to trade and store assets in over 1,400 top cryptocurrencies for over 10 million users from over 190 countries. In addition to offering Defi products through HipoDeFi, the exchange also offers spot, margin, futures and contracts trading, custody services through Wallet.io, and investments through Gate Labs and the platform. Its dedicated GateChain platform.

The company also offers a fully integrated product suite, such as the initial exchange product launch platform, the NFT Magic Box marketplace, crypto loans, and more. As you can see, Gate.io has built a comprehensive ecosystem of products to serve many crypto users.

Gate.io has one of the most complex and diverse offerings on the market. Currently, the exchange has 1,232 coins and 2,395 currency pairs listed and manages a daily trading volume of $8.7 billion in spot and contracts.

It is a platform primarily intended for professional traders so it can be a challenging option for beginners.

Advantages and disadvantages

Advantage:

  • The platform operates globally in over 400 markets and over 1400 cryptocurrencies.
  • Great IEO (initial exchange offering) platform.
  • Powerful mobile application.
  • Many features, including spot trading and margin trading with 10x leverage.
  • Highly secure exchange.
  • 24/7 customer support.

Disadvantage

No fiat deposits Unregulated exchange Non-transparent team Exchange interface is a bit messy Not recommended for beginners.

Services and Features

Buying Crypto

How to buy crypto with Credit/Debit Card

Step 1: Log in to your Gate.io account (completed KYC1) and click “Buy Crypto – Credit/Debit Card” on the homepage.

Step 2: Select the fiat currency and fill the fiat amount you want to use. Select the cryptocurrency you want to buy, then choose from one of our trusted Third-Party payment providers..

Step 3: Please read the Disclaimer before proceeding. By clicking “Continue” after reading the Disclaimer, you will be redirected to the Third-Party page to complete the payment. Please note. This is a secure transfer to our Third-Parties page, your data and transaction are secure at all times.

Step 4: Continue on Third-Party page to complete your purchase. (In some cases you will need to complete KYC on the Third-Parties page.)

Step 5: You then can view your order by clicking “Order History”.

If you want to check the details on how to purchase crypto with credit/debit card, please check the link below: https://www.gate.io/article/28915

Supported cryptocurrencies and fiat currencies

Credit/Debit Card at Gate.io has supported 80+ fiat currencies and 140+ crypto currencies, therefore providing you with several choices to make the payment.

What are the benefits?

Secure: High security and privacy are ensured by Gate.io, and all accounts need to be verified by KYC1 before purchase.

Efficient: Very efficient way to buy crypto, simple and fast. You only need to enter your credit/debit card information to complete the purchase.

Multiple options: We offer a variety of fiat currencies and cryptocurrencies for you to choose from. You can replace the currency types according to your needs.

How to buy crypto through bank transfer

Step 1: Log in to your Gate.io account (completed KYC1) and click “Buy Crypto – Bank Transfer” on the homepage.

Step 2: Select the fiat currency and fill the fiat amount you want to use. Select the cryptocurrency you want to buy, then you may choose from one of our trusted Third-Party payment providers a payment channel you prefer.

Step 3: Please read the Disclaimer before proceeding. By clicking “Continue” after reading the Disclaimer, you will be redirected to the Third-Party page to complete the payment. Please note. This is a secure transfer to our Third-Parties page, your data and transaction are secure at all times.

Step 4: Continue on the Third-Party page to complete your purchase. (In some cases you will need to complete KYC on the Third-Parties page.)

Step 5: You then can view your order by clicking “Order History”.

If you want to check the details on how to purchase crypto with bank transfer, please check the link below: https://www.gate.io/article/28916

Supported cryptocurrencies and fiat currencies

Bank Transfer at Gate.io has supported 18 fiat currencies and 140+ crypto currencies, therefore providing you with several choices to make the payment.

What are the benefits?

Secure: High security and privacy are ensured by Gate.io , and all accounts need to be verified by KYC1 before purchase.

Efficient: Very efficient way to buy crypto, simple and convenient. You can purchase crypto simply by making a bank transfer.

Multiple options: We offer a variety of fiat currencies and cryptocurrency for you to choose from. You can replace the currency types according to your needs.

P2P Trading

On Gate.io retail users can enjoy fast P2P transactions with merchants with zero transaction fees. Marking trusted sellers to help users identify the best sellers to trade with. KYC, AML, delayed withdrawals and more to avoid illegal funds.

Earn program

  • Lend & Earn: Earn interest on your idle money. Principal and interest guaranteed with always over 100% collateral from your partners.
  • HODL & Earn: A one-stop investment hub with a wide range of products.
  • Structural Products: Pre-packaged products including interest-linked assets and derivatives
  • Car investment: One-click investment, flexible portfolio, can be redeemed and changed at any time
  • Cryptocurrency Lending: An investment to lend your crypto with a specific interest rate and loan term to receive income
  • Dual Investment: Short-term investment with exposure to two cryptocurrencies
  • Cryptocurrency Loan: Cryptocurrency lending is pledging one cryptocurrency to borrow another cryptocurrency
  • Margin Loan: Borrow to amplify your purchasing power with your own assets as margin
  • Liquidity Mining: Earn fee income by providing Dual Asset liquidity to the market
  • Lending & Vaulting an Asset: Provides liquidity for an asset to earn income. Deposit or withdraw at any time.
  • Cloud Mining: Cryptocurrency Mining Without Buying Hardware
  • Placement Auctions: Participate in parachain auctions and get rewards.

Deposits and Withdrawals

First and foremost, Gate.io does not accept fiat deposits. If you want to trade, you must first transfer your cryptocurrency to the exchange. Considering the wide range of cryptocurrencies supported, this shouldn’t be a difficult task for seasoned crypto market players, but beginners can run into trouble.

Although deposits are free, you will have to pay a withdrawal fee, which is different for each currency. Traders should also be aware of the withdrawal limits imposed by Gate.io. For example, you can withdraw max 100 BTC per day. However, the limit can be increased if you submit all required KYC documents and email support asking for a higher withdrawal limit.

As is the case with most pure cryptocurrency exchanges, your withdrawals are processed instantly and the duration often depends on the speed of the blockchain. The same goes for deposits.

Trading

You can trade on the crypto market, margin, futures or crypto lending or derivatives trading (spot exchange) with up to 100x leverage, margin lending fund or borrow funds, participate in recurring investment plans, invest in IEOs through the Gate.io Startup platform, perpetual swaps and much more.

You may choose a trading pair on the homepage by clicking the trade button under your desired market.

Trade On Gate.io

You may place an order with your preferred price and amount. When there is a matching opposite order, your order will fill or partially fill. The partially filled order will continue to fill with the matching orders.

Gate.io Review: Exchange With A Complete System And Reliable 3

If your order keeps open for a while, you may want to cancel the order. To cancel it, please access Open Order page from Wallet> Open Order. Then the asset “locked” in the order will be returned to your available balance.

Gate.io Review: Exchange With A Complete System And Reliable

Gate.io Fees

Gate.io offers a different fee structure to its registered traders:

Gate.io Review Fees

Deposit Fees

Gate.io does not charge any deposit fee from its users like most cryptocurrency exchanges.

Withdrawal Fees

A standard blockchain network fee is charged from users who wish to withdraw funds from the Gate.io crypto exchanges determined by the prevailing market (time-limited markets) forces at that particular time.

Different withdrawal fees are charged for every individual asset. For example, a withdrawal fee amounting to 0.0005 BTC is charged when users withdraw Bitcoins from the exchange. Thus, the fee structure of Gate.io is quite competitive (40% lower) than the global average, as the industry average is approximately around 0.0008 BTC per Bitcoin withdrawal.

Trading Fees

The trading fees structure at Gate.io is, however, different for spot markets and margin trading markets. Accordingly, the spot trading fee charged per transaction at Gate.io is 0.2% (flat trading fee), which reduces as the trading volumes increase. This is slightly higher than its competitors like Binance or KuCoin’s charge per trade, which is 0.1%.

However, based on our Gate.io review users can pay the trading fees using the Gate.io tokens (GT) to receive a discount of 25%. Again, there is a separate fee structure; the trading fee for the futures market is based on the maker-taker fee model. The maker-taker fee is 0.025% and 0.075%, respectively. This maker-taker fee structure is again lower than most of the world’s leading margin trading platforms.

NFT Marketplace

Gate NFT offers you much more simple and convenient free NFT minting. Creators continuously receive income from any future sales of their work, immediately after each successful transaction.

Gate.io Review: Exchange With A Complete System And Reliable

The NFT portal is packed with top artists, game developers, famous brands, popular worldwide IPs, as well as NFTs offered exclusively at Gate NFT.

Besides Gate NFT cooperates with the best artists and projects around the world to provide INO for quality works. We discover, promote and help develop excellent NFTs.

Gate.io NFT Magic Box is the world’s first centralized NFT exchange, focused on creative incubation and asset management of NFT artworks in the digital currency sector.

Gate.io Review: Exchange With A Complete System And Reliable

Gate.io NFT Magic Box will adopt the innovative independent GateChain public chain and cross-chain protocol, providing global artists and NFT organizations with high-performance, low-cost blockchain technology support. Artists just need to focus on creating their works and enjoy Gate.io’s extreme liquidity.

The NFT Magic Box platform will consist of two main parts: the NFT pioneering innovative platform and the NFT auction trading platform.

NFT pioneering creative platform, all users who want to create and express their art through NFT can upload their own works, and create their own NFT on the NFT Magic Box platform for free . At the same time, we will pay attention to major suppliers. Provide professional technical support and cohesive services to them, so that users’ creative enthusiasm and work value can be unleashed and realized to the greatest extent.

NFT Auction Trading Platform, offers two trading methods, fixed price trading and auction for global NFT works. NFT works created on Gate.io’s NFT Pioneering Platform or other NFT platforms loaded into Gate.io may be displayed and auctioned. The proceeds from the sale will become the creator’s income directly and a small amount will be put into the Gate.io NFT Art Fund and used to support the creation of the artists signed on the exchange.

Conclusion – Gate.io Review

Above is an overview of the Gate.io cryptocurrency exchange. Overall, this is a reputable, versatile cryptocurrency exchange for experienced crypto traders. In addition to crypto trading, the platform offers great opportunities for spot trading, margin trading (borrowing and lending) and perpetual swaps trading, with 10x leverage. .

We hope that the information we provide will be of value to you so that you can make more successful transactions. Please leave any contributions in the comments section to make our article better.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.