Gate.io is a crypto exchange tailored for those seeking spot trading, NFT trading, crypto lending options, and interest-earning opportunities. It caters effectively to proactive crypto traders and offers the advantage of free NFT minting. This Gate.io review provides insights into its functionalities and features.
Gate.io was established in China in 2013 under Bter, then rebranded as Gate.io in 2017. Gate.io is one of the top ten exchanges in the world, currently sitting at the number 6 spot in terms of trading volume.
Gate.io was one of the fastest-growing crypto platforms in the early days and one of the first to provide more than just crypto trading. After being pushed out of China due to regulatory issues, the platform focused on setting up shop and registering in Virginia in the United States until US regulations caused them to leave the US and move to the Cayman Islands, where they are headquartered. I don’t know about you, but I would take the Cayman Islands over Virginia any day. Piña coladas on the beach, anyone?
In 2019, Gate.io raised $64 million during an ICO for their exchange token. It used the funds to expand the platform impressively, now offering multiple trading products, rivalling the likes of Binance and KuCoin.
Gate.io is famous for cryptocurrency and derivatives trading, especially for traders looking to use leverage. Note that global authorities do not regulate the exchange. The platform is not available for traders residing in the US, Canada, China, Malaysia, Singapore, Malta, Venezuela, Bangladesh, Bolivia, Ecuador, or sanctioned countries, and users from the Netherlands, Germany, France, and Lithuania can only use the platform for Spot trading. Fiat withdrawals are not supported.
Gate.io offers an extensive selection of over 1,000 tradable spot pairs, with the option of leveraging some assets up to 10x, indicated by a “10x” notation in the grey box. Trading on this platform occurs through a robust trading interface powered by TradingView, catering to the needs of even the most advanced technical analysis traders. Information on tradable pairs and available leverage can also be easily accessed within the trading terminal.
Futures trading on Gate.io is geared towards experienced traders. Gate.io may not be the most beginner-friendly option for those new to futures trading, as the platform can be less intuitive than others like Binance, CoinSpot, Kraken, or OKX.
Gate.io supports futures and perpetual contracts with leverage of up to 100x, featuring contracts denominated in Bitcoin and USDT. The interface for futures trading differs from the spot trading interface, creating a clear distinction. Experienced traders will find the Futures trading interface familiar and functional, as it also leverages TradingView for analysis.
It’s worth noting that users should double-check their selected leverage settings, as the placement of the margin feature may not be as apparent on Gate.io compared to platforms where it’s positioned directly above the buy or sell options.
Traders have the flexibility to choose between Cross Margin and Isolated Margin:
Cross Margin: Margin is shared among open positions with the same settlement cryptocurrency, and additional margin is allocated from the overall account balance of the corresponding cryptocurrency to prevent liquidation when necessary.
Isolated Margin: Margin is assigned to a specific position and is restricted to a predefined amount. The position is liquidated if the margin falls below the Maintenance Margin level. However, traders can add or remove margins as needed.
Gate.io offers a dedicated copy and bot trading section, presenting a more functional alternative to the Auto Invest feature. In this section, users can replicate the trading strategies of high-performing traders. Unlike the Auto Invest section, the Copy Trading section provides comprehensive information about traders and their performance history, offering transparency before selecting a trader to follow.
Based on reviews, this platform is famous for copy trading, with generally positive feedback. However, users must conduct research (DYOR) to ensure that a trader’s risk profile aligns with their own.
Gate.io offers a remarkably robust and comprehensive trading bot interface in bot trading. Traders can create their bots without the need for coding skills or opt to follow community-created bots. Like the Copy Trading section, traders can access detailed information about bots, including total investment, total return, unrealised profit and loss, APR, strategy details, and basic information.
For those interested in creating their bots, Gate.io allows you to publish your bot on the platform, earning a percentage of the profits generated by users who choose to copy your bot—a noteworthy feature. Bots and strategies can be back-tested and saved as templates for future adjustments and use.
Gate.io offers a variety of pre-packaged investment products linked to interest and derivatives. The returns are determined by comparing the price performance of the underlying asset to the linked price throughout the investment term. These options cater to risk-averse investors seeking principal guarantees and those with a higher risk tolerance pursuing more aggressive opportunities.
Gate.io empowers users to tailor their investments by selecting risk levels, investment terms, APRs, and types. After identifying their preferred investment criteria, the platform offers personalised recommendations, diverging from Binance’s Earn section, which inundates users with diverse products, often requiring them to navigate numerous options to align with their investment objectives.
Gate.io boasts a wide array of earn products, offering APRs ranging from approximately 1.5% to 30%. Notably, Gate.io employs distinct product terminology for its investment offerings compared to other platforms. Here are some examples:
Gate.io offers an Auto Investment feature, allowing traders to automate the copying of profitable traders—a concept akin to the famous copy and social trading features on platforms like eToro.
However, it’s crucial to note that this product carries substantial risk due to the lack of transparency regarding the traders behind the strategies. Unlike platforms such as eToro, where users can verify the longevity and track record of potential traders they wish to replicate, Gate.io provides limited insight into the traders or their performance history.
Before gaining access to the Auto Investment platform, Gate.io mandates users to read and acknowledge the following risk warning:
This feature empowers platform users to earn passive income by contributing liquidity to the market. A corresponding liquidity pool for each trading pair market supports the automated market maker (AMM) method. Users can deposit their funds into these pools, automatically becoming liquidity providers. In return, they receive a share of the fees generated from the trading activities conducted on the platform. It’s worth noting that this feature aligns with the standard practice in decentralised exchanges (DEXs), and it’s commendable to see Gate.io offering it.
Gate.io stands among the exchanges facilitating Polkadot and Kusama parachain auctions, joining the ranks of other platforms like Kraken and KuCoin. This capability serves as a significant draw for enthusiasts within the Polkadot ecosystem. Polkadot, a project brimming with potential, can be notably intricate and bewildering for many crypto users, leaving them needing help engaging in the DOT auction process.
Gate.io has adeptly streamlined this process for its users, enabling them to participate in parachain slot auctions without necessitating a deep understanding of the complex Polkadot DeFi landscape.
Here’s how it works on Gate.io: KSM/DOT holders can quickly locate their preferred auction and deposit their tokens. The minimum lock-up requirement for Polkadot Auctions is set at 5 DOT, while Kusama auctions merely demand 0.1 KSM. Once the auction commences, Gate.io takes charge of the auction process on behalf of its users. Following the auction’s conclusion, tokens are returned to users, with any reward tokens earned should the new project emerge victorious.
Gate.io, like many reputable exchanges, Gate.io now boasts its own NFT marketplace. This marketplace is characterised by its impeccable design, user-friendly interface, and many filters that simplify discovering desired NFTs. It categorises NFTs into various segments: art, music, domain names, land, cards, sports, and utility. Within the Gate.io NFT marketplace, users can explore popular collections like OpenPunks, Supe Infinity, Losercoin, and more.
Gate.io’s NFT marketplace also introduces a unique feature known as the “Magic Box,” serving as an NFT launchpad catering to emerging artists seeking to showcase their creations. Additionally, the platform houses the “Initial NFT Offering (INO)” platform, providing a launchpad for nascent projects. Regarding trading volume, the platform maintains a respectable activity level, with Ethereum and Tron NFTs being the two supported networks.
Gate.io adopts a fee structure that leans towards being more cost-effective than platforms like Kraken or Coinbase, albeit with slightly higher fees than Binance and KuCoin.
Gate.io’s fees are contingent upon a user’s 30-day trading volume. Users holding the platform’s GT token and choosing to pay fees with GT tokens can enjoy fee discounts. This applies to both spot trading maker and taker fees.
In the realm of futures trading, a similar principle governs fee determination. You can access information about fees associated with futures trading. Futures contracts also adhere to a laddered funding rate table.
For users interested in lending, Gate.io maintains a 16-tier VIP structure, offering discounts ranging from 0% to 70%, along with repayment rates spanning from 5.4% to 18%. When depositing cryptocurrencies, this service is provided free of charge. However, withdrawal fees can vary significantly based on the crypto assets. Detailed information on withdrawal fees is available on the Gate.io Fees Page.
It’s essential to note that while Gate.io itself doesn’t levy fees for crypto purchases, fees may be applicable through their payment partners. Before making a crypto purchase, reviewing the fee information to ensure it aligns with your expectations is advisable.
Gate.io, like other reputable exchanges, Gate.io offers a mobile app for traders who wish to engage in on-the-go trading or prefer a desktop trading interface over the web version.
The platform is accessible through various operating systems, including iOS, Android, Mac, and Windows. Notably, the mobile application has garnered over 1 million downloads. However, there’s a noticeable disparity between the app’s reviews on Android and iOS platforms.
The app boasts a commendable rating of 4.3 out of 5 for Android users, reflecting a positive user experience. In contrast, Apple users have awarded it a less impressive 3.1 out of 5.
Some of the most common negative reviews among Apple users stem from frustrations regarding the inability to withdraw fiat to a bank account. Note that this limitation is not the platform’s fault; Gate.io explicitly states that it does not support fiat withdrawals. In hindsight, these users may have benefited from reading a review or two beforehand.
Gate.io places a significant emphasis on the security of its platform, an aspect that has been acknowledged in the past. In 2020, it was ranked as the second-best exchange in terms of cybersecurity by CER. However, it’s worth noting that its ranking has slipped to 21st place since then.
Gate.io adheres to industry-leading practices to ensure the utmost security, including cold storage, a robust WAF protection system, third-party cloud defence mechanisms, and more.
Gate.io takes proactive measures to safeguard user funds by employing a combination of hot and cold wallets, with most assets stored in cold storage. While they mention that “most” funds are kept in cold storage, it’s worth noting that some exchanges provide a specific percentage, often around 95%.
Gate.io also subjects itself to external security audits to further enhance its security measures. It’s important to acknowledge that Gate.io did experience a security breach in 2015 when it operated under the name Bter.com. However, they have since significantly bolstered their security protocols. Many crypto exchanges either obtain insurance from third-party providers or allocate a portion of their profits to be able to reimburse customers in the event of a security breach.
Gate.io strongly emphasises efficient and reliable customer support, catering to users in over 40 languages across the 170 countries they serve. They offer a range of crucial support features to assist users:
Help Center: Users can access a comprehensive resource hub within the Help Center, which includes a wealth of articles, guides, and frequently asked questions (FAQs) covering various topics.
Support Tickets: For personalised assistance, users can submit support tickets to address specific concerns and receive tailored support.
Live Chat: Real-time support is available through live chat, enabling users to engage with support agents instantly to resolve queries or issues.
Email Support: Gate.io provides timely responses to detailed or complex inquiries through email support, ensuring that users receive the assistance they need.
Social Media: The exchange is active on popular social media platforms like Twitter, Telegram, and Facebook. This not only serves as a means to keep users updated but also allows for occasional support interactions.
Is Gate.io better than CoinSpot?
For active trading enthusiasts, Gate.io offers a superior experience to CoinSpot, boasting a more robust trading interface and lower fees. Yet, for users seeking a broader range of services, CoinSpot may be the preferred choice. It’s worth noting that CoinSpot enjoys a more extensive user base and higher trading volume, as acknowledged by the crypto community. You can explore a more detailed analysis of CoinSpot in our CoinSpot Review.
What coins does Gate.io List?
Gate.io provides access to an extensive catalogue of over 1,400 tradable assets, encompassing cryptocurrencies, stablecoins, and tokens. The platform continually updates its asset listings to keep pace with the ever-changing crypto market and cater to traders’ evolving preferences. Gate.io offers diverse trading opportunities, including spot, margin, and futures trading. Their innovative IEO platform allows users to engage in promising new projects with substantial growth potential.
Does Gate.io support crypto staking?
Yes, Gate.io currently offers support for two types of crypto staking. The first is locked staking, where you commit to locking up your tokens for a specified period. The second is a no-lock-in contract staking option, which does not require a commitment to a specific time frame.
How do you withdraw from Gate.io?
To withdraw funds from Gate.io using the mobile app, navigate to the “wallet” section and select “withdraw.” Alternatively, you can access your “spot account” and initiate the withdrawal for your desired cryptocurrency. Please note that Gate.io does not support withdrawals of fiat currencies.
Who is Gate.io intended for?
Gate.io caters to experienced traders looking to access less common cryptocurrencies and users who already possess cryptocurrency and do not need to deposit fiat currency.
In summary, Gate.io is a reputable cryptocurrency exchange that operates without requiring Know Your Customer (KYC) procedures. The platform offers extensive features, including a wide variety of tradable assets, support for crypto staking, an Initial Exchange Offering (IEO) platform, futures trading, and an integrated NFT marketplace. With competitive fee structures, exceptional customer support, and a robust security track record, Gate.io emerges as a top choice for users seeking a secure and user-friendly platform for cryptocurrency trading that does not necessitate KYC verification.
Lin Han founded the company responsible for Gate.io and has its headquarters in the Cayman Islands. It operates within a framework of stringent financial regulations, ensuring a secure and compliant trading environment for its users. Nevertheless, users must exercise due diligence and remain informed about the platform’s policies and the risks associated with cryptocurrency trading to safeguard their interests and security effectively
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