Getting started with cryptocurrency exchanges? As a beginner, it’s always better to trust a reliable exchange platform like Gate.io that will make trading easier for you. Delve into the world of crypto exchanges with Gate.io and find out the latest market cap of each coin and how you can trade in the easiest and quickest way possible!
Gate.io is an esteemed trading site that began its operation in China and is now established as a US-based company. It has more than 367 crypto markets including major currencies like eToro Chinese yuan (CNYX), Bitcoin (BTC), Ether (ETH) and Tether (USDT). Additionally, Gate.io also offers time-limited markets that are perfect for traders who want to be flexible with their investment.
Learn all there is to know about Gate.io and why it’s the best cryptocurrency exchange platform for you right here at Cryptoshimbun!
Your cryptocurrency exchange journey begins here!
Founded in 2013 by Han Lin in China, Gate.io is one of the oldest cryptocurrency exchange platforms still operating to this day. It’s run by Gate Technologies Incorporated, a company that focuses on a worldwide network of sales, distribution and technical support for industrial products.
It has worldwide availability except for Washington State, New York State, Cuba, Iran, North Korea, Sudan, Syria, Pakistan, Venezuela and Crimea. Check out its features below:
GateToken: Gate.io’s native coin
GateToken or GT is a native coin by Gatechain mainnet. It became the official exchange token of Gate.io on March 2, 2020, and has since developed with the exchange platform. It is available for trading in Gate.io and can be used in VIP tier escalations, exclusive activity participation, trading fee debit and more.
For security reasons, Gate.io closed in 2017 and relaunched shortly after with a better security system for both users and their servers. The exchange now offers several security features that help users keep their funds protected such as:
- Two-factor authentication (2FA) with Google Authenticator
- Login verifications
- Additional fund withdrawal password
- SMS 2FA
- Anti-Phishing code
- Blind IP logins
Gate.io is ranked as one of the most secure cryptocurrency exchange platforms according to the world security standards set by Crypto Exchange Ranks (CER) and currently has a cybersecurity score of 8.75 as certified by CER.
After launching a bug bounty with Hacken Cybersecurity in 2020, Gate.io received a 3-star CER certificate, the highest level a crypto exchange can get, making it one of the six global exchanges that have this certification.
Design and usability
Gate.io’s straightforward user interface is one of the exchange’s most notable features. Users can easily access various options like lending, margin trading, borrowing and cryptocurrency market caps in the main menu of the website and application.
You can use the search function at the top of the page to explore different markets. Trading charts are shown in the middle of the screen with the order book on the right side of the monitor. You can even place an order of your preferred currency on the form at the bottom side of the screen.
Most exchange platforms charge several fees for their services. This may include trading fees, deposit fees and withdrawal fees. Here are the fees users need to settle for transactions made with Gate.io:
- Spot and margin trading fees
The structure fee for spot and margin trading follows a flat fee model where the maker and taker fee is almost equal. It also has a set trading fee of 0.20%, which is lower than the industry average of about 0.25%.
Those who make spot trades are charged with a 0.2% fee for each transaction. This fee decreases as you increase your trading volume. Additionally, Gate.io offers a 25% discount if you pay your fees using the GateToken (GT).
- Deposit fees
Unlike other exchange platforms, Gate.io doesn’t charge when you deposit funds. However, it doesn’t accept fiat as a deposit. You need to have cryptocurrency before you can start trading on the platform.
- Withdrawal fees
If you decide that you want to withdraw your assets in Gate.io, the platform will immediately initiate a standard blockchain network fee. This fee is automatically adjusted depending on the market you want to withdraw from.
You can find the withdrawal limit and fee for each cryptocurrency on the official page of Gate.io under the About section at the bottom of their page.
Gate.io offers a wide range of trading options that allow users to trade and invest in several crypto tokens like Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Ripple (XRP) and Tether (USDT). You can choose from the different trading options available in this exchange below:
Spot trading offers instant trades in the market based on the current price of the currency you are opting for. Due to the immediate nature of this exchange, you need to have available funds in your wallet to process your trade at the date of settlement.
Margin trading follows the concept of borrowing funds from a third party to leverage your position in the market. Unlike spot trading that needs immediate funds, margin trading doesn’t require you to have the entire trade amount to enter into a position in the market. This allows users to trade larger amounts of money and possibly profit more.
HODL and earn
The HODL and earn feature of Gate.io offers several financial products with fixed-term or flexible arrangements for traders. It offers several cryptocurrencies you can readily purchase and hold until the lock-up term ends.
Once the stated terms are satisfied, you will be rewarded with a satisfying interest. The lock-up term can last from 7 to 98 days depending on the terms stated in the product that you purchase.