Gate.io was featured in the Forbes Advisor list of the best crypto exchanges of January 2022. Forbes Advisor arrived at the list by assessing features like the types of cryptocurrencies available, fees, cybersecurity features, user reviews and educational resources.
- Beginner Friendly Exchange
- Lot's of Alt Coins available
History of Gate.io Exchange
Gate.io is a popular cryptocurrency exchange in the world and was founded by Han Lin. Gate.io has been in the crypto sector for eight years and started global operations in 2018.
Gate.io also supports derivatives markets such as futures and options along with the ability to utilise leverage for trading. Both perpetual and quarterly settled contracts are offered by the exchange.
Gate.io also offers copy trading or social trading where a user can copy the trades of other successful and experienced users. Users can also create a new strategy for others to copy. 5% of the profits are shared with the strategy creator if others benefit from the creator’s trading strategy.
Located in Shanghai, Gate.io provides cryptocurrency trading services to traders all around the world! For new cryptocurrency traders, Gate.io offers access to thousands of digital assets and convenient and efficient trading services. More experienced traders can take advantage of Gate.io's two-factor authentication and cold storage wallet systems for added security and peace of mind while trading on the platform. You can instantly deposit funds for crypto through one of the available gateways: Payeer, Perfect Money, Advcash, OKPay, Paypal or Western Union!
Who owns Gate.io?
Han Lin is the founder and the largest shareholder of the Gate Technology Corporation.
Regulations of Gate.io
Gate.io has obtained some licenses in relevant jurisdictions and has not been subjected to a lot of regulations unlike other cryptocurrency exchanges.
Gate.io is currently available in most countries but prohibits new user registrations from citizens and residents of Washington State, New York (US), Cuba, Iran, North Korea, Sudan, Syria, Venezuela and Crimea.
Gate.io currently does not offer futures and derivatives products to retail users in the US as per the directions of the US SEC.
In addition, Gate.io may also limit access to some or all features based on the country’s jurisdiction and prevailing regulations.
What Cryptocurrencies are available on Gate.io?
Gate.io supports trading in major cryptocurrencies with over 1000 coins supported currently. It offers trading in cryptocurrencies paired with other popular altcoins and fiat currencies such as USD, USDT, BTC and ETH. It also has a native token called the Gate token (GT).
Payment methods in Gate.io
The Gate.io exchange supports many payment methods including credit/debit card, bank transfer, third party payment processors and P2P transfer.
Credit/Debit cards: Gate.io allows its users to deposit fiat currencies through debit/credit cards. Both Visa and Master cards are supported on the platform. Gate.io supports major fiat currencies including AUD, EUR, GBP, CAD, USD, HKD, JPY, KRW, DKK, NOK, CHF, CZD, NZD, PLN, SEK, TRY, RUB, SEK, MXN, BRL, UGX, TZS, NGN, IDR, RUR, GHS, KES, and ZAR. A currency conversion charge maybe levied if the transaction currency is different from those supported by the exchange.
Bank Transfer: Gate.io supports direct bank transfers in many countries and for the currencies described above. Supported currencies include USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN.
Third Party payment processors: The Gate.io exchange also supports some third party payment processors such as Simplex, mercuryo, advcash, coinify and Banxa through which the users can also deposit fiat balance into their Gate.io account for purchasing cryptocurrencies.
P2P Transfer: Gate.io also supports transfer of fiat balances through the peer to peer (P2P) mode. This method involves sharing of account information between two customers who can then transfer balance between themselves and the same can be used for purchasing or selling cryptocurrencies. The peer to peer method helps in transferring balances where other payment methods maybe slow or may not be supported at all.
Gate.io offers a range of products and caters to a diverse set of clients through its multiple offerings. These services are described below.
Institutional and VIP Services: Gate.io provides VIP accounts based on the amount of Gate tokens held in a user’s wallet and their trading activity. VIP members get the advantage of lower trading fees and invitation to Gate meetups. They also get to try out new products with a higher withdrawal limit than ordinary accounts. VIP members also get access to a VIP manager that provides instant 24X7 customer support.
Cryptopedia: It is the nativeeducational resource for all things related to crypto and blockchain. The Gate.io cryptopedia publishes research driven content about cryptocurrencies, NFT and blockchain universe. It serves to help the user understand about various altcoins and blockchain technology.
Gate.io startup: Gate.io offers advisory and institutional support for businesses looking to offer initial coin offerings of their tokens. The ICO’s can be launched on the Gate.io startup platform which provides marketing and the ability to introduce the token early to the Gate.io customers. The exchange also supports new blockchain and crypto startups with the help of its dedicated investment wing known as Gate Ventures.
Staking on Exchange
Gate.io allows users to stake currencies through the Hodl and Earn feature. Users can stake their cryptocurrencies to earn additional income. It is an easy method to earn a passive and additional source of income.
Voting Activities: Gate.io allows users to vote for listing their favorite altcoins and if the coin gains enough votes, it is considered as a listing candidate by the platform.
GateChain/Bridge: Users can stake and swap popular stablecoins and altcoins to earn additional rewards. Users can also add liquidity to earn additional rewards.
Wallet.io: It is the native wallet application hosted by Gate.io with support for all ERC-20 tokens, all EOS tokens, all QTUM tokens, and all tokens on the NEO network. It is available for both retail and enterprise/corporate users and companies.
Block.info: Provides history of transactions and technical analysis. Gate.io NFT Marketplace: Newly launched NFT marketplace powered by Gate.io where users can mint and earn from their NFTs. It is built to provide support to artists, collectors and users on a single platform.
How to open an account on Gate.io
You will need to complete Know Your Customer (KYC) procedure to open an account on Gate.io. The steps involved in opening an account are described below.
Steps to open an account on Gate.io:
- Go to the Gate.io site and click on the Register button.
- Then select your country of residence and proceed to the registration interface. Here, you will need to provide your email ID/phone number and a password that will be used to login into the newly created account.
- Click on the agree to terms and conditions button and wait for the verification mail or message.
- Clicking on the verification tab will take you to your new account. You will need to provide documentation such as a driving license, passport or other government issued IDs to confirm your identity and address. A utility bill and national ID may also be accepted in some cases. This process is known as the KYC regulation and it is in place to prevent the risk of fraud and to ensure that the site is safe for all users. The documents should be in English or Chinese. The user will need to provide a notarized copy of English translations in case the identity and address documents are in any other language.
- Once this additional step is completed, Gate.io will activate your account and you can deposit funds to start trading.
Customer support of Gate.io
The customer support of Gate.io consists of well trained professionals who will help you out via the chat feature if you get stuck or need some help with an issue. The support section is well doxxed with a range of FAQs that could solve your queries. Users can also submit a request and get the desired support via email.
Is Gate.io Secure?
Gate.io invests in security and has built a solid reputation among its users. Majority of clients funds are stored securely in an offline environment. Users can also secure their accounts through 2FA and by various other measures such as SMS and email login verification. The exchange has also introduced a special fund withdrawal password for additional security.
Gate.io received 9.65 points on the cyber security score from the Crypto Exchange Ranks (CER) as per their Top 100 Exchanges by Cybersecurity Rating in 2020.
Gate.io also suspends and locks accounts in case unusual activity is detected.