If you’re looking for a cryptocurrency exchange to invest that allows you to trade a wide range of digital currencies, then you must consider Gate.io. With competitive trading fees, this popular exchange offers access to more than 300 cryptocurrencies, making it amongst the top 50 exchanges by 24-hour trade volume site Coinmarketcap. So let us look more about this platform from this Gate.io review.
Gate.io review :
Gate.io came into existence in 2013 in China. The exchange provides a wide range of cryptocurrencies and features. The platform offers crypto to crypto exchange and supports BTC, ETH, USDT, and QTUM trading pairs.
Gate.io is owned by Gate Technology Inc. which is based in Virginia, United States. The website is available in English and Chinese, to attract and serve investors from both English/Chinese speaking countries.
How Gate.io works?
Gate.io supports more than hundreds of coins.
After a successful login, click ‘Wallet’ on the top menu and next search for the coin you wish to deposit.
Click ‘Deposit’ to go to the deposit page, where you can see the deposit address. Transfer to that address according to your online wallet or local wallet. Your transaction will be credited after a required minimum number of confirmations.
Go to Wallet and search for the coin you wish to withdraw. Click ‘Withdraw’ to go to withdrawal page. Fill the form and submit it. But, for some coins, a tag/memo/message is also required besides the address. Enter the tag/memo/message in the Address field.
Enter your destination address and tag on the XRP Address blank in the format address space tag,
If you are withdrawing to your local wallet and do not need a tag to receive it. You may specify a tag yourself as long as it is an integer.
Click the ‘market’ tab and select the pairs you wish to buy/ sell. Enter your desired price and the amount.
Click Buy/Sell button if you want to buy or sell. Enter your fund password after checking and place your order.
Your order will be displayed in the order Tab below the form. Once the order is completed, your funds will be credited to your balance.
Another feature of Gate.io is margin trading. Unlike other exchanges, the platform offers margin trading for 26 coins and a leverage of 3 is allowed. for example: if you have 100 BTC in the margin account, then you can borrow 200 BTC.
The exchange has 4 types of fees –
Deposit fees – Gate.io does not charge any fees on deposits.
Low trading fee – Gate.io charges a low fee of just 0.2%. Also, the fees are Tier based taker or maker fee schedule for spot and margin trading. Gate.io users can enjoy discounts as per the trading volume. For more details, refer to their official website.
Low withdrawal fees – The withdrawal fees differ for each coin type. Withdrawal fees are very low and vary for each coin. For most coins, regardless of the amount you are withdrawing, a fee is charged per transaction.
Fees for Contract trading – Takers pay minimum 0.075% of transaction as fees whereas maker receives 0.025% as fee rebate for transactions.
Access Gate.io on the Go
Currently the Gate.io exchange is available for Android and iOS versions. This makes accessing the exchange platform on the go very easy.
Security at Gate.io
To store users coins in a hot wallet, Gate.io provides encrypted cold storage. The security has been very high, users need to provide KYC verification with photo id and other documents. Gate.io offers 2FA(two-factor-Authentication) and combination passwords.
There is another addition called “fund password” which is used to access trading and asset withdrawals. Moreover, there is a “Bind IP” option which makes the website remembers the last IP user logged in from. Both the passwords are required to be different; any user who checked the “Bind IP” option on the login page should also take note to enter their passwords from a single device, as otherwise, the website might detect IP issues
Gate.io exchange offers a wide range of cryptocurrencies at competitive fees. Moreover, the platform provides features than most of the other exchanges out there. The platform will attract investors especially those who looking for specific coins and can not be found on many exchanges.
If you are a seasoned trader or beginner who wishes to purchase a coin, which is not available at other exchange than Gate.io is a good platform for you.