Exchang Gate.io is one of the most traditional in the crypto market, it was founded in 2013 by Lin Han. In 2015, Until 2017, the exchange changed its brand from Bter.com to the name Gate.io when the Chinese government banned fiat-to-crypto trading in 2017. It closed the old domain, abandoned cryptocurrency trading pairs fiat and shifted its focus to crypto-crypto.
As of today, Gate.io remains an unregulated cryptocurrency exchange in terms of volume and market liquidity with approx. 3500 BTC volume per day. In recent news, its parent company Gate Technology Inc. raised $64 million worth of cryptocurrencies for the upcoming Gatechain (DEX) decentralized exchange project and launched a successful IEO platform Gate.io Startup.
banned countries
Exchang Gate.io is not available to residents and citizens of the following states:
- Washington (USA)
- New York (USA)
- Cuba
- Iran
- Coréia do Norte
- Sudão
- Síria
- Paquistão
- Venezuela
- Crimea
In this article, we will discuss:
Deposit and withdrawal methods at Gate.io
Gate.io does not accept fiat deposits, so if you want to trade, you first need to transfer your cryptocurrency to the exchange. Considering its wide range of supported cryptocurrencies, it shouldn't be a difficult task for experienced players of the cryptocurrency market, but beginners may be in trouble.
While deposits are free, you will pay a withdrawal fee, which is different for each currency. Traders should also be aware of the withdrawal limits imposed by Gate.io. For example, you can withdraw at most. 100 BTC per day. However, it is possible to increase the limit if you submit all required KYC documents and email support asking for higher withdrawal limits.
As is the case with most pure cryptocurrency exchanges, your withdrawals are processed immediately and the duration usually depends on the speed of the exchange. blockchain. The same goes for deposits.
Gate.io Fees
Like most cryptocurrency exchanges, Gate.io charges somewhat competitive fees. If you choose to trade on the platform, you will pay no deposit fees, 0,2% spot and margin trading fee, and a small withdrawal fee that changes per cryptocurrency being withdrawn.
Here's how Gate.io's withdrawal fees compare to withdrawal fees charged by its competitors:
| Currency / Withdrawal Fee | Gate.io | Bithoven | Binance | HitBTC | Poloniex | Bittrex |
|---|---|---|---|---|---|---|
| Bitcoin (BTC) | 0,001 BTC | 0,0015 BTC | 0,0005 BTC | 0,001 BTC | 0,0005 BTC | 0,0005 BTC |
| Ethereum (ETH) | 0,003 ETH | 0,0428 ETH | 0,01 ETH | 0,00958 ETH | 0,01 ETH | 0,01 ETH |
| Litecoin (LTC) | 0,01 LTC | 0,053 LTC | 0,001 LTC | 0,003 LTC | 0,001 LTC | 0,01 LTC |
| Ripple (XRP) | 1 XRP | 6.38 XRP | 0,25 XRP | 0,509 XRP | 0,15 XRP | 1 XRP |
| EOS (EOS) | 0,1 EOS | 0,01 EOS | 0,1 EOS | 3.7 EOS | Regular | unlisted |
| Monero (XMR) | 0,05 XMR | 0,09 XMR | 0,0001 XMR | 0,09 XMR | 0,015 XMR | 0,0001 XMR |
| Tron (TRX) | 0,1 TRX | 150,5 TRX | 1 TRX | 290,5 TRX | unlisted | 1 TRX |
| mooring (USDT) | 3 USD | 20 USD | 4,7 USDT | 45 USD | 10 USD | 5 USD |
Is Gate.io Reliable and Safe to Invest?
Gate.io protects users' funds using hot and cold wallets along with other secret security practices. Higher deposit accounts are known to go through a more extensive customer verification procedure (KYC & KYC2) in order for your withdrawals to be processed immediately.
Despite KYC verification required, Gate.io is still an unregulated exchange and its legal status and obligations to customers are still unclear. It is also worth knowing that while Gate.io has no history of hacks, its previous platform Bter.com lost approximately 7.000 BTC in a hacking incident in 2015.
Gate.io employs various security tricks to keep user funds safe. As a user, you can protect your account with:
- Two-factor authentication (2FA) with Google Authenticator.
- 2FA SMS, generally considered quite insecure.
- Login checks.
- Additional Withdrawal Password.
- Antiphishing code.
- Blind IP logins.
Unfortunately, the exchange does not offer Universal 2nd Factor (U2F) protection, which is considered the safest form of protection against unauthorized access to your account.
Internally, Gate.io protects users' funds using hot and cold wallets along with other secret security practices. Higher deposit accounts are known to go through a more extensive customer verification procedure (KYC & KYC2) in order for your withdrawals to be processed immediately.
Gate.io Claim Here
At the time of publishing this article, unfortunately, the exchange has not responded to the 10 complaints made by users on the site. Complain here. Which in our view is unfortunate, but we hope that support will soon respond to customers in Brazil.
Conclusion
Overall, Gate.io is an excellent cryptocurrency exchange for more experienced crypto traders. In addition to having a wide range of altcoins, it also attracts investors with its lucrative 10x margin trading, perpetual contracts, best-in-class IEO platform, and even financial services like margin lending, borrowing or periodic investment plans. It might be too much to digest for market newbies, but everyone else could find what they were looking for on the Gate.io exchange.
