Cryptocurrency Exchange

Gate.io Exchange Review 2022 – Trading Fees, Features, Supported Currencies.

Published by
Elena R

With the rising popularity of a range of crypto-related assets, it’s only logical that cryptocurrency exchanges would improve their game and provide a larger selection of currencies for trading and swapping. 

Gate.io, Being one of the oldest cryptocurrency exchanges it is obvious that it provides a wide variety of crypto assets. You can buy, sell and trade over 1300 cryptocurrencies including bitcoin, Ethereum, and more! With more than $1.65 billion daily trading volume as of March 2022.

This guide will help you learn about the security, guides, and features of Gate.io. to get started. 

Overview

Legal Name Gate.io
Official Web Addresshttps://www.gate.io/
HeadquartersGeorge Town, Cayman Islands.
FounderLin Han
Exchange TypeCentralized
Trading OptionsSpot, derivative,P2P market, Buy crypto and copy trading.
Trading feesMaker 0.2%, Taker 0.2%.
Trading pairs2000+
Native Token$GT – Gate Token
Deposit methodsCredit card and Bank transfer
Deposit feesNo fees
Withdrawal methodsEnter withdrawal address
Withdrawal fees Depending on the cryptocurrency
Supported Countries 224+
Restricted countries25
Supported Fiat currenciesNo
Mobile AppGoogle Play, App store
Customer Support24/7, Email, Live chat, submit a request.

What is Gate.io?

Founded in 2013. Gate.io is a china based company founded by Lin han. The headquarters is located in George Town, Cayman Islands. The exchange offers its services in more than 224+ countries with 80+ million worldwide users.

Gate is a centralized cryptocurrency exchange operated by Gate Technology Inc with a variety of trading options and coins.

The platform stands out to be a complete crypto exchange with a fiat mode of payment. The exchange provides good trading quality services to its users.

The exchange is also available in different languages including English, Japan, Korean and Turkey. 24/7 live chat facility available to all its users and various guides in FAQ section.

Is Gate.io Safe and Secure?

With regards to the security data breaches in 2019, the security concern towards this exchange is still questionalble. But, it is also fact, there were no other issues recorded after that.

A hacker has stolen thousands of dollars worth ETC. 

The exchange offers a variety of security measures like Cross-cryptocurrency address technology, where the same address is used for the same type of cryptocurrencies.

For example : ETH and ERC-20 tokens have the same deposit address. 

Hot and Cold wallet storage solution – Most of the users funds are stored in offline cold wallets to ensure the safety of the account and quick withdrawals. Only a little amount of funds are stored in hot wallets for liquidity.

Multi-signature security protection technology – You are required to enter the verification code for withdrawing assets and for backup of regular wallets.

The assets can be restored at any time. It has also set up real time asset sending and receiving technology to ensure that assets appear on time.

Additional features like additional password for withdrawals, Anti-phishing algorithms, monitor IP logins, and two-factor authentication.

Features Of Gate.io

  1. Trading Options: Gate offers spot trading, margin trading, leveraged tokens, Derivative trading, NFT’s markets and many more.
  1. Finance : In the finance section it offers Hold & Earn, periodic investment plan, Crypto loan, crypto lending, margin borrowing, mining, slot auctions, structured products and Dual currency product.
  1. Wallet.io : Gate.io offers  free wallet services to account holders.  To get to the wallet page, go to the top of the page and click the Wallet tab.
  1. Gate Token: GT is the native token of Gate.io. With a total supply of 1 billion. With 0.7 billion burned tokens, the current maximum circulation is 0.3 billion. GT holders get special discounts and privileges.
  1. Services: Gate.io offers services like announcements, listings, institutional services, VIP discounts, developers and gate grants.
  1. Start up: Gate.io is a blockchain assets discount providing platform that offers discounted sales of decentralized blockchain assets (BTC, ETH, etc.).
  1. Other features : Callable bull/bear contract(CBBC), open punks, offering INO, ETH 2.0 mining, voting activities, chat room, live stream, bonus campaigns, bitcoin halving, tasks and bonuses.

Gate.io Fees And Limits

Gate charges no fees for registration and deposits. Withdrawal fee depends upon the currency you want to withdraw.

In the spot market the fee charged for maker and taker is 0.2%. In the futures markets the maker fee is 0.00% and taker fee is 0.050%.

For transaction fees the gate follows a VIP tiered system. As the trading volume and gate token holdings increase, the fee decreases. There are 16 VIP levels and it charges standard maker and taker fee level.

For more information visit Gate.io fee.

Gate.io Supported Currencies.

The exchange supports 1000+ cryptocurrencies and 2000+ crypto trading pairs.

Some of the major cryptocurrencies include :

  • Bitcoin(BTC)
  • Bitcoin Cash(BCH)
  • Ethereum(ETC)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Gold (BTG)
  • Augur (REP)
  • Tether (USDT)
  • Monero (XMR)
  • Zcash (ZEC)
  • Cardano (ADA)
  • Cosmos (ATOM)
  • Tezos(XTZ)
  • Polkadot

Some of the popular trading pairs on Gate.io

  • GT/USDT
  • BTC/USDT
  • ETH/USD
  • USDT/USD
  • ETH/BTC
  • GXS/BTC
  • LUNA/ETH
  • SONAR/ETH
  • BNB/USDT
  • HT/USDT
  • UNI/USDT
  • MANA/USDT

Gate.io Supported Countries

Gate.io offers its services over 224+ countries. However Use of the service by users from the United States of America, Mainland China, Canada (limited to the provinces of Ontario and Quebec), Singapore, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, 6 Venezuela, Crimea region, Bangladesh, Bolivia, Ecuador, Kyrgyzstan is prohibited.

In addition, any users in Hong Kong, China, UK (retail users only), Netherlands, Germany, France, Lithuania, Italy are prohibited from using products and services provided by this exchange website other than the spot trading.

Mobile App Of Gate.io

The exchange has launched its own mobile app for android and IOS users. You can download it from Google play and App store for free. 

For Android users, File size is 180MB. Requires android 5.0 and up. Rated 3+.

For IOS users, File size is 398.8 MB. Requires IOS 10.0 and higher. Rated 9+.

How to Register on Gate.io?

  1. Go to the official website. Click on ‘Sign Up’.
  2. Enter your Email and Password. Referral ID(optional).
  3. Agree to the terms. Click ‘Next’.
  4. Create a fund password.  Tap on ‘Create Account’.
  5. Check your mailbox and enter the code.
  6. Press on ‘Log In’.

How to recover your password on Gate.io?

  1. On the login page, click on ‘Forgot password’.
  1. Decide whether you want to recover your password by  registered Email or phone number.
  2. Click ‘Next’. Check your mail or SMS.
  3. Follow the instructions and recover your password.

How to do KYC on Gate.io?

KYC is necessary for withdrawals and to have access for better features on Gate.io

How to Deposit funds in your Gate.io account?

  1. Login into your account. Navigate to ‘wallet’.
  2. Choose ‘Deposit’ or you can go to ‘wallet’ > spot account > Deposit.
  3. Select the cryptocurrency you want to deposit and chain.
  4. You can copy the address or scan the QR code for the address.
  5. Now paste the address in your external wallet from which you want to transfer the funds from.

How to withdraw funds from Gate.io account?

  1. Login into your account. Navigate to ‘wallet’.
  2. Choose ‘Withdraw’ or you can go to wallet > spot wallet > withdraw.
  3. Now select ‘To address’. Select the cryptocurrency and preferred chain.
  4. Enter the required information. Click on ‘Submit request’.

5. Now confirm the withdrawal

6. Now you can check your withdrawal status in ‘Recent Withdrawals’.

How to buy Cryptocurrency with Fiat currency?

  1. Login into your account. Choose ‘Buy Crypto’.
  2. Choose a method( Credit card, Bank transfer, and P2P trade).
  3. Consider credit cards for example.
  4. Select fiat currency and enter the amount. Select the crypto currency you want to purchase.
  1. Now select the service provider from the list.
  2. Take ‘Banxa’ as an example. The transaction fee will be displayed at the bottom of the page.
  1. Tick on ‘I have read and accepted the disclaimer’. Click on ‘Purchase’.
  2. Now confirm your order by clicking ‘Create Order’.
  3. You need to verify your personal ID by entering your Email and phone number. Agree to the terms and click ‘Confirm’.
  4. Upload your ID documents. Tap ‘ continue’.
  5. Enter your card details and tap ‘make payment’.

How to use P2P Trading to buy crypto/sell crypto on Gate.io?

  1. Login into your account. Navigate to ‘Buy Crypto’.
  2. Select ‘P2P Trade’. On the trading page choose the trading pair from the list.
  3. You can buy cryptocurrency by two methods.
  1. Enter the quantity and the price you want to buy or sell. Select the payment method. Click ‘Buy now’ or ‘Sell now’.
  2. On the contrary, you can select one of the advertisers from the given list. Click on ‘Buy’/’Sell’. To use this method you need to agree with the advertisers payment method.

4. After clicking ‘BUY USDT’/SELL USDT in the second method. Enter the buy amount. Click ‘Confirm & create’.

5. Enter your funds password and ‘confirm the order’.

Traders Reviews

According to the trustpilot review the exchange has an overall rating of 2.4/5

Most of the users’ comments were about technical support is not adequate, easy trading, no support from customer support team, easy transfers with P2P trading platform, late withdrawals, and many more.

Coinpedia Rating on Gate.io

Cybersecurity5/10
Liquidity9/10
Customer support4/10
Online reputation9/10
Total Trust score7/10

Gate.io FAQ’s

Can US citizens use Gate.io?

Except for Washington and Newyork, other US citizens can use spot trading.


Is Gate.io a regulated exchange?

No, Gate.io is not a regulated exchange.

How much does gate.io charge for P2P Tradings?

It is free for individual users to trade on P2P. For merchants the trading fee charged is 0.2%. VIP clients will get additional discounts on trading fees.

How long does it take for KYC on Gate.io?

The processing time may be anywhere from half an hour and 12 hours.

Closing Thoughts

Gate.io is considered to be one of the oldest and top 10 exchanges world-wide. The exchange has a variety of features and trading pairs for its users.

Also involved in NFT markets, and leverages. From this review it is clear that it has a diverse range of altcoins and services.

The only drawback of the platform is it is not a regulated exchange and the team is anonymous. This will indirectly make the users think before entering the platform. Overall it is a pretty good exchange to trade for.

Pros

  1. Provides a variety of features.
  2. Offers derivative and NFTs trading.
  3. Wide range of cryptocurrencies supported.
  4. Low fees charged.
  5. Earn bonuses by completing the tasks.

Cons

  1. Data breach activities.
  2. Not a regulated exchange.
  3. Fiat currencies are not supported.
Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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