Review of the cryptocurrency exchange Gate io

Exchange Gate io was born just 4 years after the birth of cryptocurrencies. It was founded by Chinese entrepreneur Li Han on May 18, 2013. At that time it was called Bter. Over the years, the platform has achieved impressive success, but not in its historical homeland. Due to the restrictive measures of the Chinese government in relation to cryptocurrencies, the activities of the exchange were suspended. In 2017, it came under the jurisdiction of Gate Technology Inc. in the United States, headquartered in Virginia. The platform is registered in the Cayman Islands.

Access to Gate io has users all over the world, except in those countries where its activities are limited. According to cryptanalyst Watcher.Guru, the platform stops working in the following countries:

• Bangladesh;
• Bolivia;
• Venezuela;
• Iran;
• Canada;
• China;
• Cuba;
• Malaysia;
• Malta;
• Singapore;
• Syria;
• Ecuador.

The source does not name the reasons for the curtailment of activities in these countries.

Advantages and disadvantages of the exchange

The cryptocurrency market has seriously expanded. In difficult competitive conditions, the io Gate exchange managed to get to the forefront. In a relatively short period, it built an extensive system and attracted huge investments. The platform failed to solve all the problems, but it has more advantages than disadvantages.

For whom the exchange is suitable

The American cryptocurrency exchange Gate io has gained such popularity that the number of customers has reached 10 million people. This indicator demonstrates the security and reliability of the service.

However, the exchange has more advantages for beginners:

• the exchange has a huge number of cryptocurrencies and available pairs. It is important for a novice user to be able to get used to working on the stock exchange without investing a lot of money. From the variety of coins, he can choose the cheapest. It won’t be a shame if you lose some money;
• Gate io provides free educational programs for new participants;
• user-friendly interface will help the new player to quickly join the process;
• on the stock exchange, you can not only trade and exchange coins, but also earn on drawings;
• the user can connect to the work of the exchange at any time through a mobile application;
• the presence of constant information about the work of other sites makes it possible to compare and choose suitable cryptocurrencies and pairs.

Available cryptocurrencies

By the number of electronic currencies, the Gate Io exchange ranks first in the world. The same applies to the number of cryptocurrency pairs.

Among them there are the most popular, on which traders pay special attention. Here is a table of dozens of popular cryptocurrencies on the exchange for trading, depositing and withdrawing.

How to register

To fulfill the procedure in Gate io, you need to open the main page of the site. After selecting a language, go to the account section. Standard user information and contact details are entered here. Create a trading password to confirm transactions. It will act as a PIN.

After confirming the correctness of the entered data, you need to enter an email. It is better to immediately link it to the account to ensure more reliable security. For this purpose, it is also recommended connecting two-factor authentication.

If the registration is done on a mobile phone, you need to use a phone number instead of email.

Gate io has an affiliate program. If the user invited a new member to register in the program, it must be indicated in a special field. Here, both win: the invited client receives a discount on the commission of trading operations, and the inviter receives a small reward from each operation in which his referral participated.

Verification

This procedure will save the user from the restrictions of the exchange and strengthen the security of the account. Customer feedback suggests that verification in Gate io allows you to withdraw funds faster.

To pass the verification procedure, you need to do the following:

• enter the name;
• repeat the first action;
• choose from two documents: passport or ID-card;
• enter passport or ID-card numbers;
• click Submit.

How to deposit and withdraw funds

To make a deposit, the user in the exchange Gate io needs to find the Wallets tab on the left edge of the top. After clicking on it, a list of available cryptocurrencies will appear. In it you need to find the asset that you need. To the right of the name of the cryptocurrency, you should click on the Deposit button. The exchange will create a wallet address for the client. This address must be pasted into the Recipient Address line on the resource from which you want the funds to come.

Funds are also withdrawn through Wallets. For this, in front of the asset, you need to click on the Withdraw button. This will be followed by a few more actions:

• specify the address of the wallet to which the funds are withdrawn;
• give it a name for the convenience of withdrawing assets in the future;
• specify the number of coins;
• enter the two passwords generated by the registration;
• click submit request.

After some time, your funds will be credited.

Commissions and fees

Among the centralized sites, Gate io offers minimum commission rates. Moreover, you do not need to pay for deposits. There is a commission in the exchange for withdrawal, and it depends on the asset that the user intends to withdraw. The size of the trading commission is also affected by other factors:

• trading volume;
• type of order placement;
• GT cryptocurrency holdings.

To better understand the platform’s policy, look at the discounts offered by the exchange Gate io to regular customers who have a monthly turnover of a certain number of bitcoins:

• >3 BTC – 5%;
• >12 BTC − 15%;
• >50 BTC − 25%;
• >400 BTC − 35%;
• >1000 BTC − 40%;
• >5000 BTC− 50%.

To withdraw the most popular cryptocurrencies, the following ranges of commissions per transaction are provided:

• USDT 0 + 3%;
• ETH 0+0,003%;
• BTC 0+0,001%;
• LTC 0+0,002%.

Ten of the most popular cryptocurrencies have the following fixed rates of commissions to withdraw the assets:

How to Start Trading

Cryptocurrency Exchange currently offers around 400 pairs to trade. They are sorted by pairs of the most sought-after assets.

To start trading, you need to activate the Market tab. This is the algorithm of the following actions:

• choosing a coin;
• choosing a pair;
• trading schedule for a currency pair;
• trading conditions for this pair on other platforms;
• form of purchase or sale.

The exchange Gate io offers clients three types of orders:

• a limit order, when the price of an asset is set by a trader;
• an order that is formed automatically when the price rises to a certain value;
• a limit order on temporary conditions, created according to the selected parameters after some time.

Under the order form, the user can find open orders, the history of recent trades and a lot of other useful information.

How to place an order

Trading takes place on limit orders, where the user evaluates his coins individually. The form helps to navigate, automatically offering the average market price. To place an order on Gate io, you only need to enter the value and number of coins bought or sold into the form by clicking on the button.

The form offers Iceberg and iOS options. The first is used for large orders. To keep the size of the transaction secret, the application amount is divided into several parts.

This measure is also aimed at preventing unnecessary excitement in the cryptocurrency market. The iOS option assumes instant order fulfillment. In the absence of a counter-offer, the order is canceled.

Margin trading

The option has appeared on Gate io recently. Now the user can significantly increase the number of coins. Example: a client trades in the BTC/USDT pair and has 2 bitcoins. Using the leverage of ×10, he can increase the liquidity of the cryptocurrency by 10 times. But if he loses the deal, he will lose more assets.

Margin trading opens two positions for clients:

1. Long. In this case, the client uses leverage, counting on an increase in the value of the coin. The seller buys at a low price in order to sell at a higher price.
2.  Short. In this position, the client is playing low. He takes margin to sell the asset at a higher price, hoping to buy it at a lower price.

In the section there is an opportunity to make money on other traders by providing them with loans.

How to make money on Futures

On Gate io you can trade perpetual futures with leverages from 20 to 100. The feature is available in the “Contracts – Perpetual Contract” menu.

To use this function, you need to transfer funds from the spot account to the futures account. If you are going to pay part of the commission with points, they should also be sent to the futures account.

Mobile App

This tool allows users to trade e-money anytime from anywhere. A mobile application in content is not different from the site.

Traders can enjoy all the available features and options of the platform on their phone.

Confidentiality and security

In 2015, the exchange was still in China and was called Bter.com. It was that year when the platform was hacked. Scammers stole more than 7,000 coins. In the seven years of Gate io’s activity, nothing like has happened. The lesson of the past was not in vain – the new exchange seriously took up the strengthening of the security of its customers. The traders can use several security functions in their account:

• confirmation of login via email;
• two-factor authentication;
• sign in exclusively from an approved device;
• reconciliation of the client’s hardware at login.

Customer Support

There is a tab with additional parameters on the main page of Gate io exchange. There are many opportunities for customer and website feedback. The Support Center provides a lot of useful information to help beginners and experienced users.

Questions of interest can be asked both in the chat and through e-mail [email protected].

The achievements

Gate io exchange in a short period has acquired a universal character. It is reflected in both the large number of altcoins and DeFi products. The sixth place among the most successful platforms is a convincing proof of security, transparency and honesty.

2021 was a record for the growth rate of the user base. It reached 10 million people. The team released new products and contributed to increased activity. Such success served as a good motivation to make the next year even more fruitful.

Countries in which the Gate io Exchange operates

Exchange operates Activities of the Gate io Exchange cover most countries in the world, with the exception of those mentioned above. There are some restrictions concerning traders from the USA and Canada. Here is a list of countries in the world in alphabetical order.

 Frequently Asked Questions

1. Is Gate Io Cryptocurrency Exchange Suitable for Novice Traders and Why?

The exchange provides ample opportunities for novice users. Programs have been created on the platform, where new customers are trained freely. In addition, the exchange has a user-friendly interface in which any user can intuitively understand everything.

2. Were there any cases of hacking on the Gate Io exchange after changing the address?

In 2019, the attackers managed to steal 4200 coins worth about 270 thousand dollars. The platform returned to customers the amount of stolen funds. After this incident, the exchange had no such problems.

3. What is the size of the commission on the exchange?

There are no commissions for deposits. The minimum rate of 0.2% is set to withdraw actives. During trading, the rates change. Sellers and buyers pay different percentages of the commission. Bets also differ depending on cryptocurrency pairs. Each has its own individual commission.

4. Why do I need verification on the Gate Io exchange?

This procedure is not required for customers. But it speeds up the withdrawal process and increases the level of security of accounts.

5. How safe is the Gate io cryptocurrency exchange?

To date, the exchange is considered one of the most reliable. To preserve the funds of its customers, the platform has taken all precautions. If the participants of cryptocurrency operations strictly follow the rules adopted on the Gate Io exchange, their funds are not in danger.

Conclusion

Gate io offers many tempting options and opportunities to customers. Among them is margin trading, with which you need to be careful.

The exchange is multifunctional, which can lead a new participant to bewilderment. But over time, versatility will become an advantage for the trader. The abundance of cryptocurrencies expands the possibilities of customers. The platform offers several ways of passive income.

The exchange actively supports traders in the special service, answering all questions by the day. Enhanced security measures reinforce the reliability of the platform.

At the end, we will give some information about the exchange Gate io.

Information about the company