Gate.io is an emerging digital currency trading hub, catering to users seeking a fresh alternative to the market's big players. Since its inception in 2017, this platform has been striving to carve out its niche by providing seamless access to elusive coins and budding initiatives. In addition, the platform aids investors by supplying targeted information about their favorite cryptocurrencies and overarching market movements.
Overview
Gate.io is a digital currency exchange platform, kicking off in 2017 with its portal operable in both English and Chinese, opening the gate to a vast array of cryptocurrencies. While the backend of the organization and its team remain cloak-and-dagger, it's noteworthy that the platform has shown steady growth and handles a considerable volume of daily cryptocurrency trades.
Running as a crypto-to-crypto exchange, the platform currently supports trading pairs like BTC, ETH, USDT, and QTUM. With an impressive daily trading influx of around $40 million, primarily driven by transactions involving BTC, ETH, EOS, BTM, ONT, and USDT pairings.
As a fresh player in the arena, Gate.io is open to new registrations, and creating an account doesn't cost a dime.
Key Features
- Features – Most trading activities unfold on a web-based platform akin to standard cryptocurrency exchanges. The platform encompasses essential tools like an order book, trade logs, and charting capabilities. While it might lack the shine of veteran exchanges, it remains practical and user-friendly. In addition, Gate.io proffers a mobile application for both iOS and Android platforms.
- Charges – Gate.io operates on a low-fee policy relative to many crypto exchanges, with a flat rate of 0.2% applied to all trades on the exchange. Withdrawal fees vary by asset, dictated by the type of cryptocurrency you choose to transfer.
- Protection – Funds are held securely via a combination of cold storage and hot wallets, while client accounts enjoy the protection of two-factor authentication and a dual password system. The 'login password' grants account access while the 'fund password' permits trading and asset retrieval. Utilizing a fixed IP internet service during password setup is recommended.
- Customer Support – There is a support a section with responses to frequent queries through an FAQ tool alongside a New User Guide. Furthermore, users can submit tickets for delving into more peculiar issues, communicating with the support squad. The assistance crew currently exchanges in either English or Chinese. The team can also be accessed via their Twitter account and Telegram group .
Gate.io Registration
Visit their site by following the registration procedure to set up an account. Click “New user signup” below the Login button, leading you to the account creation page.
Input your chosen username, email, account password, and fund password. A Captcha will need completion to finalize your account setup.
Tick the User Agreement box and click ‘Create account’ to finalize the registration. A verification email will then be dispatched to the given address.
How to Trade on Gate.io
Select a trading pair either from the homepage or the top dropdown menu by hitting the trade button under your selected market.
Upon picking a trading pair, the trading interface springs to life. The wealth of information present might appear daunting initially, thus take time to acquaint yourself. A column on the left lists BTC, ETH, USDT, and QTUM with their respective tradable cryptocurrencies.
The center showcases charts and candlesticks for your current selection; buy and sell options are just below, accompanied by your ongoing and prior trades.
The right section provides global market insights, displaying prices across other exchanges alongside current bid and ask prices, plus trade history.
The interface boasts a sleek and uncluttered design, making navigation straightforward.
Input your preferred price and quantity to place an order. On matching orders, your order will fulfill or partially fill. Unfilled portions continue attempting to complete with matching orders.
Cancel any open orders by accessing the Open Order page from Wallet > Open Order. Released assets will revert to your available balance.
Supported Currencies
Whereas Gate.io doesn't offer fiat trading, it champions over 250 crypto-to-crypto trading pairs. Many digital currencies are tradable through BTC, ETH, USDT, and QTUM.
Gate.io hosts a variety of coins including Bitcoin, Ethereum, Litecoin, Ripple, Dash, Qtum, OmiseGO, EOS, Zcash, and Dogecoin, plus newcomers like Ontology, Nebulas, and Zilliqa. Assets are classified into groups such as USDT Markets, BTC Markets, and ETH Markets. A tailored group can also be created via the My Markets option.
Gate.io Fees
Gate.io outlines its fees here with a fee schedule detailed as follows:
- No fee for deposits.
- 0.2% fee for trading.
Advancing to a higher tier grants a discount on the 0.2% trading fees.
Withdrawal fees differ per coin, so logging in and visiting the withdrawal page is necessary to check fees for your specific coin.
| No. | Currency | USDT Trading | BTC Trading | ETH Trading | Deposit | Withdraw | Withdaw Daily Limi t |
|---|---|---|---|---|---|---|---|
| 1 | USDT | – | 0.2% | 0.2% | 0 | 0%+25 | 100000 |
| 2 | USDT_ETH | – | – | – | 0 | 0%+10 | 100000 |
| 3 | BTC | 0.2% | – | 0.2% | 0 | 0%+0.001 | 100 |
| 4 | BCH | 0.2% | 0.2% | – | 0 | 0%+0.0006 | 1000 |
| 5 | BTG | 0.2% | 0.2% | – | 0 | 0%+0.002 | 1000 |
| 6 | LTC | 0.2% | 0.2% | – | 0 | 0%+0.002 | 10000 |
| 7 | ZEC | 0.2% | 0.2% | – | 0 | 0%+0.001 | 1000 |
| 8 | ETH | 0.2% | 0.2% | – | 0 | 0%+0.003 | 3000 |
| 9 | ETC | 0.2% | 0.2% | 0.2% | 0 | 0%+0.01 | 20000 |
| 10 | DASH | 0.2% | 0.2% | – | 0 | 0%+0.02 | 1000 |
For most coins, the costs are per transaction, independent of withdrawal size.
The withdrawal page specifies minimum and maximum withdrawal limits for each digital currency per transaction. Furthermore, the highest limit per transaction doesn’t equal your daily cap. Elevating your daily limits necessitates ticket submission if a larger limit is required.
Is Gate.io Safe?
Employing cold storage alongside hot wallets ensures funds have never been hacked. Gate.io’s safety measures also encompass two-factor authentication, SMS alerts, and KYC confirmations.
To secure client accounts, two-factor authentication is encouraged alongside a dual set of passwords: a 'login password' for account entry and a 'fund password' for trading and asset withdrawals. During registration, users should:
- Adopt robust login and fund passwords.
- Check the Bind IP box for login.
- Enable two-factor authentication for additional account safety.
- Secure your account-linked email with strong password protections and dual-factor authentication.
Additionally, Gate.io uses tiered verification for higher deposit holdings, with KYC2 clearance required for processing any withdrawals stuck in verifying status.
Start the KYC verification through your account by accessing Wallet > KYC to provide your photograph and necessary details.
After KYC1, move to KYC2. Post KYC2 confirmation, withdrawal requests are processed immediately.
Conclusion
Gate.io might be a relatively new contender in cryptocurrency exchange, but it houses an impressive selection of digital assets. The platform, while not notably distinguished among its peers, remains serviceable, providing various standard features seen in more established names. However, those with a certain flair for risk significant holdings in Qtum might find the use of common currency on the site appealing.
The platform could attract traders hunting for rare digital assets absent on platforms such as Binance or Kucoin while also appealing to users based in China. However, the mysterious team and current lack of regulation suggest that keeping assets on the site or performing large transactions may not be wise; rather, it could suit daring, knowledgeable crypto enthusiasts looking for an alternative to a site like Cryptotopia renowned for carrying elusive cryptocurrencies.
Pros
- A wide range of currencies
- A low fee structure
- Simple registration process
- Functional platform equipped with a mobile application
Cons
- A new company with limited history
- Unregulated
- The team is not very transparent
- No fiat currency transfers
Gate.io
Pros
- A wide range of currencies
- A low fee structure
- Mobile App
- Easy to Use
- Well-Designed Interface
Cons
- A new company with limited history
- Unregulated
- The team is not very transparent
- No Fiat Payment Options
