Since its launch in 2013, Gate.io has become one of China’s most established crypto-to-crypto currency exchanges. After undergoing a name change to Gate.io in 2017, it has become one of the cryptocurrency platforms expanding quickly. It offers a leading platform for initial exchange offerings (IEO), a variety of cryptocurrencies, profitable trading with leverage, and margin lending or borrowing. This Gate.io review will look at its many features, including security protocols, fee systems.
Lin Han established Gate.io in 2013, making it among the pioneer Chinese bitcoin exchanges.
Up to the year 2017, the name of the exchange was Bter.com. However, due to the Chinese government’s decision in 2017 to outlaw trading in fiat currency for cryptocurrency, the company was compelled to rebrand itself as Gate.io. It shut down the old domain, stopped trading cryptocurrency pairs based on fiat currency, and shifted its emphasis to crypto-to-crypto and over-the-counter trades in Chinese yuan.
Gate.io, much like most other cryptocurrency-to-cryptocurrency exchanges, Gate.io has somewhat competitive fees. Suppose you decide to engage in trading on this exchange. In that case, you will not be charged any fees for making deposits, you will be charged a fee of 0.2 percent for spot and margin trading, and you will be charged a minor withdrawal fee that varies depending on the cryptocurrency being withdrawn.
In addition, Gate.io provides beneficial trading charge discounts to its users who trade the most frequently. The following is the fee schedule for its volume-tiered discount, which applies to traders that trade 3 BTC or more worth of cryptocurrencies each month. The reduction will be applied to the customary commission rate of 0.2 percent.
Gate.io uses various security measures to safeguard the users’ cash at all times. You, as a user, can keep your account secure by using:
Google Authenticator supports two-factor authentication, also known as 2FA.
SMS two-factor authentication is usually regarded as being fairly unsafe.
verifications of user logins
Additional password for withdrawing funds.
A code that prevents phishing.
Blind logins through IP address.
Usability & Design
Internally, Gate.io protects its users’ funds by using both hot and cold wallets, in addition to other top-secret security procedures. It is common knowledge that bigger deposit accounts must go through a more in-depth client verification process (known as KYC and AML) before having their withdrawal requests quickly handled.
A complex exchange like Gate.io needs to provide its users with a straightforward and uncomplicated experience. Because of this, the platform uses an interface comparable to that of its primary competitors, which include Binance and KuCoin, amongst others.
Although the site’s extensive feature set can be fairly bewildering at first, it is not particularly difficult to navigate between the many sections. Right from the main menu, you can travel directly to the crypto market, lending, and borrowing, marginal trading, perpetual contracts financial services, the IEO platform, or wallets overview. Moreover, you may also trade on margin.
Deposit And Withdrawal
Gate.io does not permit users to make deposits using fiat currency. To engage in trading, you must first send your virtual currency to the platform where it will be stored. When considering the extensive list of supported cryptocurrencies, this should not be a difficult chore for seasoned participants in the crypto market; nonetheless, newcomers might have some difficulty with it.
Since deposits are free, a cost is associated with withdrawing funds, which varies depending on the cryptocurrency. Traders also need to be mindful of the limits for withdrawal that Gate.io imposes on their accounts. For instance, the maximum daily withdrawal limit for bitcoin is 100. On the other hand, it is possible to increase the limit if you provide all of the required KYC documents and send an email to the support team requesting larger withdrawal limits.
When it comes to crypto market traders that have more experience under their belts, Gate.io is an outstanding alternative coin exchange. In addition to offering a wide selection of alternative cryptocurrencies, it also allows investors to profit from 10x margin trading, the best initial exchange offering (IEO) platform, and even financial services such as margin lending, borrowing, and periodic investment plans.