Gate.io crypto exchange review -Everything you need to know
Pros
Positive aspects of the game- Lots of features for institutional investors
- A huge collection of cryptos to trade
- leverage up to x100
Cons
The disadvantages we highlight- KYC is required
Introduction
Gate.io is a multi-asset crypto investment platform with a wide range of investment opportunities. Since its inception, the platform appeared as a simple crypto exchange option, but many developments have appeared in time. As a result, it has become a popular payment crypto exchange platform worldwide, available in most countries.
This exchange currently offers 1700+ cryptos with more than 1000 trading pairs of cryptos, besides the availability of Options, futures, ETFs, and derivatives. The user-friendly platform, availability of assets, and wide range of trading opportunities make it a popular platform among new and professional traders.
However, investing in cryptos risks losing investment, and investors are suggested to measure the risk parameter before jumping into it. Also, a crypto platform plays an important role in the investment journey, and it is crucial to know the pros and cons of it. In the following section, we are going to cover an enormous amount of information about the Gate.io platform, which might help you generate a suitable trading decision.
Platform overview
The Gate.io platform has been running for almost 10 years, and investors might rely on it based on its stable presence in the industry.
As per the Coinmarketcap report, this platform's daily trading volume is nearly $3.7 billion in 2500 trading pairs. Also, most of the funds of this platform are locked in Bitcoin, besides Ethereum, Tether, Toncoin and others.
As it is a centralized platform, it can offer a seamless trading experience in major crypto pairs, including Bitcoin, Ethereum, Litecoin, Solana, etc. Get token (GT) is the native crypto for this platform, and users can get an additional benefit by making transactions through this.
This company serves clients worldwide with some exceptions only. Besides crypto deposits, a huge collection of fiat payment methods made crypto trading opportunities available to the masses.
The overall feature of the company is sophisticated, as it covers most functions that a trader seeks from a platform. Also, the education section is enriched with a huge collection of articles and blogs, which might help new traders get involved in the industry.
Key features
In this section, we will see the core features offered by this platform, which might help you to get a clearer view of this company.
Spot trading
The interface of spot trading is almost similar to other platforms, where the list of crypto pairs and different trading actions are present on the window. Typical spot trading or covert Options are also available for this platform.
After scrolling to the spot section, traders can easily distinguish and select desired crypto pairs just by moving the mouse. Under the zone, there are 14 sectors available, such as NFT, DeFi, ETFs, etc.
Margin trading
In Margin trading, you can enjoy a maximum of 100X leverage from this platform, with a huge collection of trading pairs.
Once you click the margin trading option from the website, it will take you to the exchange directly, which could create a problem for new traders to understand the princess. As the cross margin and isolated margins are available here, we may consider it as standard.
In case of DeFi trading, users can easily join the margin trading by clicking Defi at the top left corner of the Margin page.
Gate.io futures trading
The first positive side of futures trading is the availability of a dedicated web page, where benefits and opportunities are explained clearly.
A huge collection of bonuses and promotions are available for new traders, applicable for perpetual futures, delivery and quantitative strategy.
Gate.io copy trading
Copy trading has become a popular feature for crypto exchanges. Due to the implementation of automated trading and artificial intelligence, users can now implement enormous copy trading strategies in the crypto market.
Like other platforms, you can follow a copy trader and earn money or be a copy trader by offering profit to other people.
Get.io offers copy trading for both spot and futures markets, and copy providers' performance is easily identifiable from the leaderboard.
Get.io NFTs
The NFTs section is distinguished into three categories- Free mint, hot drops and top collections. Therefore, this function could be useful for new and existing users.
Gate.io finance
A wide range of investment and money-making opportunities are available from the Get.io finance section. Let’s see some unique features of this-
- Lend and earn- This function offers an opportunity to profit from the free money. You can earn a guaranteed income depending on the coin type.
- ETH 2.0 mining- ETH 2.0 is a popular staking opportunity, and you can participate here without any doubt.
- Auto investment- Auto investment allows a flexible investment opportunity where you can take your funds back with profits at any time.
- Cloud mining- Cloud mining offers a higher winning ratio by aggregating money from a bunch of people.
Security
Although the crypto market is backed by decentralized blockchain technology, it requires additional attention to risk management. As this market is still new to mass people, any knowledge gap would cost money.
Most assets of Get.io are held in cold storage, which is considered the safest place to store cryptos. Moreover, on the user level, this platform also provides higher security. Every person should use their own details to open an account, while two-factor authentication, IP address monitoring, anti-phishing code, KYC verification and anti-phishing measurement indicate a strong security consideration.
The security measurement for this platform is not limited here. Gate.io performs a periodical platform audit to ensure the safety measurement is followed. However, the history of 7,000 BTC hacking from this platform in 2015 would be the biggest drawback.
Fees
Investors want higher safety, but many platforms struggle to provide it, as processing with a minimum fee is often difficult. As per our observation, Gate.io offers a moderate fee with no hidden costs.
Deposit and withdrawal fees
The best thing about the Gate.io platform is that the deposit is completely free. However, the fiat deposit might take a charge depending on the payment process.
If you want to deposit cryptos, there is no charge for it. Therefore, you can invest in cryptos with no additional fee, which is also available on other traditional centralized exchanges.
A fee is applicable for the crypto withdrawal fee, but the rate might vary depending on the coin type. In the following image, a glimpse of the withdrawal free via cryptos is shown:
Trading fees
A trading fee applies to the spot and futures markets, where the rate is not fixed. The trading fees depend on the VIP level you are in. In this process, the trading cost reduces over time based on the trading volume.
Moreover, the native token GT holders get an additional discount on trading fees. Let’s see a glimpse of the maker and taker fee rate for spot trading:
Apart from the retail fees, institutional investors enjoy additional fee discounts with a free negative maker.
User experience
Gate.io eliminated the geographical barrier in providing services, which allowed it to serve more than 13 million users around the globe.
In the language section, we have found 14 different languages, which proves its global presence. However, the live chat section is filled with automated answer mode, and people usually like to talk to someone in case of a query.
The blog and education sections are enriched with a lot of material, but most topics are suitable for experts and institutional traders only. Also, the bottom of the website consists of a collection of shortcuts to different sections, which might help investors to scroll.
The GT token of the platform is within the top 100 cryptos from the Coinmarketcap, which indicates that the trading volume and market cap are satisfactory.
The only drawback is the Trustpilot review, where the current score is 2.6 out of 5.00, based on 700+ reviews.
Liquidity and volume
As per the latest report, the total assets locked in the Gate.io platform are $1,147,786,042.24, with the majority portion on the Bitcoin network.
Among other major holdings are Bitcoin, GT token, USDT, Toncoin and Shiba Inu. The details about the reserve are shown in this chart:
Community and Educational Resources
Any Platform with a global presence should have an availability on different social media, and Gate.io is not exceptional. This platform is available on multiple platforms, as shown below-
- Facebook in 4 languages
- YouTube in 6 languages
- Medium in 3 languages
- Discord 1 language
- Instagram 1 language
- Telegram 18 languages
- Twitter 14 languages
Although this platform is suitable for advanced and institutional traders, the learning section is beginner-friendly. Under the Gate Learn, users can learn about the platform’s function and opportunities, while the Cryptopedia section covers the basic knowledge of cryptos.
The blog section is very active, where daily news about the crypto market is updated. Moreover, industry analysis, market insight, company news and guides are available in the blog section.
Gate.io video tutorial
Deposit and withdrawal methods
As it is a centralized exchange, depositing crypto is straightforward. Users can easily generate a crypto deposit address and accept deposits.
Crypto/Fiat deposit
In order to deposit, log into your Gate account. Click “Wallet”, – “Funds Management”, – “Deposit”, – “Onchain”.
On the next page, a deposit address will appear, and any deposit on this address or the QR code will be deposited within a minute. Currently, there are 1700+ cryptos that you can deposit on this platform.
Regarding fiat deposits, users should use the Get OTC platform. Get OTC is a process to buy cryptos through various fiat options, which require an active account in this platform with proper verification.
If you want to buy cryptos through popular fiats like AUD, CAD, EUR, GBP, HKD, JPY, SGD, USD, etc., Get.io would be a great option. This platform allows buying crypto tokens like BTC, USDT, USDC and ETH from this option.
After opening the account, you have to input your bank details into the system, and it will allow you to buy crypto tokens once the OTC account is validated. The only drawback of this feature is the minimum deposit requirement.
As per our findings, users should buy at least $200.00 per transaction, which might be higher for newcomers.
Crypto/Fiat withdrawal
The crypto deposit option is almost similar to the deposit, where traders should click on the withdrawal button from the Wallet section. Later on, select “Onchain Withdrawal” to withdraw any crypto assets you want. Moreover, you can use the Gatecode withdrawal option to withdraw to other Gate.io wallets.
In terms of fiat withdrawal, clients should follow the Gate OTC option, where the available methods depend on the country in which they live.
Gate.io exchange alternatives
| Trading Platform | Leverage | Available futures Cryptos | Review | Promotion | Website |
|---|---|---|---|---|---|
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| Over 100 |
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| Over 100 |
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| Over 100 |
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| Over 100 |
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| 5 |
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Regulatory compliance
We extensively reviewed the Gate.io user agreement and found no information regarding the regulating body. However, this platform is strict about the local regulations.
If a person is restricted or prohibited from engaging in any type of trading by the European Union, Securities and Futures Commission of Hong Kong, Hong Kong Monetary Authority, Hong Kong Customs and Excise Department, Office of Foreign Asset Control as well as any other administrative law enforcement agencies or authorities in other jurisdictions, he/she will not be able to open an account here.
Although it claims to be an international platform, the list of restricted countries is long. If you are a citizen of a restricted country, you will not be able to open an account. Here is the list of countries to look at: United States of America, Mainland China, Singapore, Canada, France, Germany, Hong Kong, Lithuania, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, Crimea Region, Spain, Luhansk, Donetsk, Netherlands, Bolivia and so on.
Conclusion
Based on our findings, Gate.io is a global platform where traders from all locations and ethnicities can enjoy the power of crypto trading.
Overall, it is an excellent crypto exchange platform, suitable for experienced traders. The margin trading, periodic investment plan, and a huge number of available cryptos could make this platform attractive to users.
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