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Gate.io Review: What You Need To Know About This Exchange

Gate.io exchange
Gate.io exchange

Gate.io is a Virginia-based exchange founded by Lin Han. Initially known as Bter.com, it changed its name to Gate.io after the Chinese government banned fiat-to-crypto trading. It offers margin trading up to 10x leverage and has been operating since 2013.

Users can participate in investment plans and invest in IEO’s through its Gate.io Startup platform. They can also conduct perpetual swap contracts. It has a high trading volume. It strives to be tops in the Asian market and introduces itself as the largest and most popular exchange in Asia.

Cryptocurrencies Supported

Gate.io supports multiple cryptocurrencies of over 200 coins and tokens and 280 trading pairs. This large number of supported coins is responsible for the high trading volume seen on the exchange.

Language

The website is available in Chinese, English, Japanese, and Korean.

Number of Active Users

Gate.io operates in more than 130 countries and serves more than 3 million users. The reason for this number of users is the use of a safe and user-friendly interface. It is also featires a secure and transparent business transactions.

The result of this popularity is that Gate.io has become one of the 20 Exchanges with the highest daily trading volume. However, this exchange is banned in the following countries:

  • U.S.
  • Cuba
  • Iran
  • North Korea
  • Sudan
  • Syria
  • Pakistan
  • Venezuela
  • Crimea

Gate.io Fees

Like other cryptocurrency trading platforms, Gate.io charge fees. However, there are no fees for deposits. It also charges you 0.2% on spot and margin trading and charges a small withdrawal fee. The exchange gives active traders rewards of trading fee discounts.

What is Gatechain?

Gatechain is a new generation of public chain built by the platform. This is to protect the assets of customers as well as facilitate decentralized transactions.

HODL and Earn

This blockchain asset earning platform was launched by Gate.io to provide a steady return on your cryptocurrency investment. Funds are locked up and non-term earning products and various financial offers are provided by Gate.io for its customers.

Gate.io Security

As Bter.com, the exchange lost about 7,000 bitcoins in a major hack. This valuable lessons from this event caused advanced security features. These include Two-factor authentication, Login verifications & SMS verifications, fund withdrawal password, Blind IP logins, and Anti-Phishing codes to ensure the security of users.

Gate.io encourages the use of KYC & KYC2 methods for larger investors to verify customer identity. It combines the use of hot and cold wallets.

Usability

This exchange has a good user interface. Gate.io usage is simple and easy.

Apps

The exchange app enables usage on various devices. You can download these apps for iOS, Android, Windows, and Mac by visiting the official Gate.io website.

Payment Methods

The only payment method acceptable is cryptocurrencies. Gate.io does not support any fiat currencies. So if you want to use fiat currencies, you must first convert them to cryptocurrency in an exchange and transfer to Gate.io. This may be challenging for beginners.

Volume and Rank

The volume of this exchange at the time of writing this article is about $ 3,242,744,692.24. It is ranked 7th among cryptocurrency exchanges. Gate.io has a Trust Score of 10.

Advantages

  • Has an app
  • Simple registration and easy user interface
  • IEO platform
  • Good customer support
  • Real-time information on cryptocurrency markets

Disadvantages

  • Does not support fiat deposits
  • Insufficient transparency of the team
  • Discomfort for beginners
  • Unregulated exchange
  • Lack of support for certain countries and states

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