Gate.io Review

gate.io

3.7

3.7/5
Min Deposit: €0

Pros & Cons

Pros

Cons

Gate.io In a Nutshell

Gate.io is one of the oldest cryptocurrency exchanges, originally started as Bter.com in China in 2013. After rebranding to Gate.io in 2017, the platform has become one of the biggest and fastest-growing cryptocurrency exchanges with services such as Copy Trading (Idea from eToro), IEO, margin trading and other advanced financial services like borrowing. Despite its advanced platform, the exchange is generally not a great choice for new investors in the cryptocurrency space.

If you want to find out more about Gate.io, continue reading our Gate.io review for a more in-depth look at the platforms offer.

Gate.io Review: Overview

The Gate.io cryptocurrency trading exchange, established in 2013, allows users to trade, buy, sell and store cryptocurrencies. Gate.io is considered one of the worlds top cryptocurrency trading platforms and is currently ranked 4th based on its overall trading volume. The platform offers a broad range of features like spot trading, futures, NFT marketplace, options, derivatives, EFT, and Copy Trading.

The platforms main selling point has been its wide selection of cryptocurrencies, and you can almost find all new altcoins on the platform. The normal top 10 trading pairs on the exchange normally use USDT (Tether) as one part of the pair. In short, Gate.io offers a vast number of trading pairs, a wide range of features and boasts impressive daily trading volumes.

Gate.io Fees

The Gate.io exchange does not charge a taker or maker fee on spot trading, commonly used on other cryptocurrency exchanges. Instead, Gate.io use a flat fee model, with fees set slightly below the industry average (0.25%) at 0.20% per trade.

The trading fees are lowered for users with high trading volumes, and users paying the fees with the platform native Gate.io tokens (GT) as this gives users a 25% discount.

Furthermore, a maker and taker fees model is used for Futures trading and is set at -0.025% and 0.075% respectively. These fees are seen as low overall when compared to other popular exchanges offering margin trading.

Deposit Fees

When depositing funds to the Gate.io exchange, there are no fees on the deposit. Currently, the platform only offers cryptocurrency deposits, meaning that you need to initially buy your assets on a platform like Binance or Coinbase before depositing funds on your Gate.io account.

UPDATE:

Gate.io now offers deposits through debit and credit cards as well as bank transfers. This means that you no longer need to purchase your cryptocurrency using a third party exchange before moving it to Gate.io. Get started with Gate.io here!

Withdrawal Fees

The withdrawal of cryptocurrency from the Gate.io exchange is also free, but the standard blockchain network fees still apply and are unavoidable and adjusted automatically based on market conditions. You can find the withdrawal fee for each asset and limit on the Gate.io fees page.

Trading Fees

As previously mentioned, the trading fee structure on Gate.io on spot markets and margin trading markets are different. Currently, the spot trading fee for each transaction sits at 0.20%, further reduced once and if you reach higher trading volumes. This fee is somewhat higher than competitors such as KuCoin and Binance, which sits at 0.10%

Furthermore, users on Gate.io can also receive the additional discount of 25% when paying for fees in the platform token (GT). Again, the fee structure is separate, and the trading fee for the futures market is based on the maker-taker fee model at 0.025% and 0.075%.

Start trading on Gate.io today!

You can open an account with Gate.io in just a few minutes. Click on “Open Account” and fill in your information.

Min Deposit: €0

Gate.io Security

The Gate.io exchange puts a lot of emphasis on the security of the platform. It offers users the tools needed to secure their accounts while the exchange is running on secure servers. It currently offers a combination of both hot and cold wallets to store users assets and personal information.

Moreover, the internal safeguards with hot and cold wallets alongside other security practices on Gate.io means that users can enjoy high security. It also requires higher deposit accounts to go through a more comprehensive customer verification procedure (KYC & KYC2) to get their withdrawals processed directly

More common security measures are also in place, such as 2FA (two-factor authentication) through the Google Authenticator, login verification, blind IP logins, SMS notifications, anti-phishing, and a separate password for fund-withdrawals.

Because of the strong security measures, cold and hot wallet, and tools available to users on the platform, Gate.io rank as one of the most secure cryptocurrency exchanges in the market, and is also ranked on the CER’s top 100 exchanges by the cybersecurity score.

Gate.io Key Features

  • The number of cryptocurrencies. Gate.io is generally known as an altcoin exchange, and for a perfect reason. The platform offers over 180 different coins and almost 400 different cryptocurrency markets. It does not deal with fiat, though which makes it hard for beginners to deposit funds.
  • The functionality of the platform. Gate.io is full of useful features – you can trade in cryptocurrency markets, margin lend or borrow funds, margin trade with 10x leverage, invest in IEO’s via the Gate.io Startup platform, join in period investment plans, perpetual swap contracts and much more.
  • Relatively low trading fees. Like most altcoin exchanges on the market, Gate.io offers low fees on its trades. Now, it is not the lowest fee on the market, but there are various discounts available. Currently, trading on the platform cost 0.20% of the total order amount.
  • Customer support. Apart from the 24/7 live chat available to all users, it also has an extensive support database which includes a FAQ section as well as New Use Guide. Alternatively, you can submit support tickets for more elaborate concerns.
  • Exchange security. Gate.io team is security-savvy, and the exchange is rated as one of the most secure exchanges by CER. It offers multiple methods for users to secure their accounts, and the platform has many built-in security mechanisms, too.

Margin Trading

Gate.io allows for leveraged trading on its trading platform. This means that users can receive a higher exposure to the fluctuations of certain cryptocurrency’s, without holding the assets needed. In short, this means that users can “leverage” their trades, which in simple terms means that users borrow assets from the exchange to invest more.

For example, let’s say a user wants to invest 10,000 USD on their trading account and bet 100 USD on BTC going long (i.e., betting that Bitcoin will increase in value). Users do so with 100x leverage. If BTC then increases in value by 10%, with a bet of 100 USD, the user would have earned 10 USD. But when users bet 100 USD with 100x leverage, users can instead earn an additional 1,000 USD (990 USD more than without leverage). On the other hand, if BTC decreases in value by 10%, the user would have lost 1,000 USD (990 USD more than if the user had not leveraged the deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk-free profits).

Gate.io Design

Gate.io is in its nature, designed for both beginners and advanced cryptocurrency traders by offering a Standard and Professional user interface. The list of cryptocurrency trading pairs are hidden and can be opened to view in full.

The standard version (shown below) is catered to new traders and includes a chart, order entry box, order profile list and trade history. Furthermore, the order entry box is large and easy to use, with the only downfall being the order book and trade history that could be a distraction to new traders that are not likely to use this data.

gate.io standard interface

Like most popular cryptocurrency exchanges, Gate.io has integrated Tradingview to provide a suite of charting features, indicators and drawing tools. These features allow users to change time frames, add chart indicators and set alerts. Making it quick and easy to navigate the charts, change tools and modify the trading view according to your preferences. 

The Professional version of the interface also seems to be more compact and minimal compared to other exchanges. The interface puts the focal point on the technical analysis with a large chart and price action details. It comes with the same options as the basic version, and users can overlay several different types of indicators to each chart.

gate io professional interface

The interface makes it easy to trade on the Gate.io crypto exchange as the order entry window is big and has a convenient placement on the side of the screen. Users can easily access the history of recent orders and automatically populate the order price in the order box. This feature is handy as it prevents you from entering an incorrect price. Trade volume can also be customised using the slider.

The current open order types are stop limit, market and limit. The limit orders can be triggered based on time or/and price of a currency, and there is also the option to Immediate or Cancel (IOC) and Iceberg orders for advanced traders.

The trading interface for derivatives is slightly different from the interface on the spot exchange. The main difference here is the additional leverage slider below the order entry window as well as the contract details. The layout overall is similar and you do feel as if you are on the same platform and not funnelled to another site, common on other exchanges.

Overall the Gate.io design is great for both derivatives and spot trading. The option to pick between the standard and professional interface also makes it suitable for both beginners and advanced traders. In short, Gate.io offers a simple, beginner-friendly, and robust interface, making even the most advanced features seem simple.

Gate.io Customer Service

Users on Gate.io can easily send support inquiries to the Gate.io email address. Users may choose to submit tickets using the tab located at the bottom of every page, or users can contact support through the help centre.

The help centre also includes general guides on the spot, margin, C2C trading and more. This is great for users that need general information such as beginner-friendly guides, or just to stay up to date in terms of news on the platform. Users can also contact Gate.io directly for further support and more detailed and personalised answers.

Lastly, Gate.io also offers live chat support (Big plus in our book) where users can quickly get into contact and resolve any issues with the support within minutes. The only downside with the Gate.io support is that the platform currently doesn’t offer any phone support, however, it could be something that the platform adds in the future.

Gate.io Review: Final thoughts

Now, to end off our Gate.io exchange review, but a single question remains – would we recommend trying Gate.io out?

Well, it’s a tough call. We would recommend the Gate.io exchange under certain circumstances, however, there are far better options for you to pick fromBinance and Kraken being two perfect examples.

Furthermore, Gate.io does have an unusual number of niche cryptocurrencies available on the exchangesupports a mobile app, and has overall low fees. Is Gate.io safe? In principle, yes. It also supports leverage and margin trading, and thus, it might be worth signing up for those who are well-versed in cryptocurrencies and are looking to invest some less-known assets.

On the other hand, the exchange in question does have a shady past and is unregulated (but still requires some KYC verifications, at least when it comes to withdrawing funds). That’s not exactly a great track record.

Either way, no matter which exchanges it is that you end up choosing, we hope that this Gate.io review was useful to you and that you’ve learned something new about crypto, in general. Best of luck!

Start trading on Gate.io today!

You can open an account with Gate.io in just a few minutes. Click on “Open Account” and fill in your information.

Min Deposit: €0

About the author

Gustav Eriksson

Gustav Eriksson

Gustav Eriksson is a cryptocurrency investor and founder of KrispCrypto. He has been a cryptocurrency investor for over ten years and loves personal finance.

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