Last Updated: January 10, 2022
- Buy Crypto With Fiat: Yes
- Trade With Fiat : No
- US Customers: Limited Access
- Derivatives and Futures: Yes
- Supported Cryptocurrencies: 600+
- NFTs: Yes
- Ease of Use: 3.5/5
- Customer Support: 24/7
Exchange for US crypto traders
- Regulated US access
- Buy crypto with card
- Huge range of cryptocurrencies
- Finance and advanced trading
- Comparatively high fees
- Identity verification required
- 10x leverage limit
- Overwhelming for beginners
Market Maker/Taker Fees
Futures Taker/Point Deduction
What Is Gate.io?
The Gate.io platform is one of the most popular cryptocurrency exchanges on the web. It allows users to easily buy digital currency at market value or use one of the more advanced coin trading options. These include margin trading, futures, perpetual contracts, and even crypto lending and borrowing.
The Gate.io exchange kicked off operations in 2013. Initially based in China, the company later moved to the United States, where it sees a huge daily trading volume. From its headquarters in Mclean, Virginia, Gate.io now supports more than 500 cryptocurrencies for trade and around 30 for direct purchase.
Gate.io is one of the few exchanges to support users from the United States, Canada, and Japan, where legal and political problems have caused issues for many industry peers. However, users from these countries have access to a scaled-back service. I’ll explain that later in this Gate.io review. So, keep reading.
How To Use Gate.io
The service has an excellent user interface comparable to most leading crypto exchanges. However, while writing this Gate.io review, I tested the platform and found the number of options overwhelming for complete beginners.
Let’s see what I mean.
For starters, all the important links are at the very top of Gate.io’s home page, with buying and trading on the left and logging in, signing up, and help on the right.
And if you’re a registered user, clicking or tapping the three dashes will bring up your account links.
The search function is particularly impressive, bringing up the relevant markets based on whether you type in a currency name, trade type, or another term. From the main window, it’s also easy to browse markets just by scrolling down the left.
The window displays the current market’s charts, while your order book is to the right. Users can also opt for a simplified trading view which looks less cluttered. Moreover, light and dark screen options are available depending on your preference.
Again, beginners might find the layout a bit much, while experienced traders will appreciate all the charting tools and a vast array of options. They consider Gate.io trustworthy and secure, having stood the test of time where others have failed.
If you are new, let’s delve a little deeper.
Creating an account on the Gate.io crypto exchange is easy enough. You must select your country or region, enter a username and strong password, along with your email and a checkbox certifying you’re over 18 years of age. Furthermore, a message warns you cannot sign up from a restricted country or certain US states.
You also need a second password to enable you to withdraw funds, providing an extra level of security.
Once registered, you need to verify your email with the link Gate.io sends you, and you’re free to browse the exchange. However, to start buying, selling, and trading, further verification is required. That’s because the Gate.io exchange follows the Know Your Customer (KYC) protocol.
This means you must verify your personal details with copies of identity documents. These include a photo ID like a driver’s license and a recent bill or official letter containing your name and address. You can easily attach scans or smartphone photos of these from within your account page. Typically, Gate.io reviews these and fully unlocks your account within a couple of hours.
Although the verification process might seem like a hassle, it’s one way to keep Gate.io safe and allows it to keep operating without government interference.
If you don’t have any crypto to transfer to your account wallet, you can buy directly at market value using the following Gate.io payment methods:
- bank transfer
- debit card
- credit card
- online payment services and apps
The latter vary from country to country, but Gate.io PayPal purchases are currently one of the major services that are off the table for the time being.
You can buy crypto quickly and automatically via a simple interface, or you can enter the market for a peer-to-peer trade. Not every digital currency you’ll find on the exchange is purchasable in this manner, but the following are:
You can also choose the fiat currency you wish to use to make the purchase, though it makes sense to choose your native currency so as not to incur foreign currency exchange charges on your card.
Just hit ‘Buy Crypto’ on the top left to start the basic process.
One useful feature is ‘flash swapping.’ This is a quick transaction process where you can exchange one held Gate.io coin for another without going through the trading window. For the privilege, the price will be slightly higher than the market value. These are sometimes called currency swaps by other exchanges.
Deposits and withdrawals
Gate.io deposit fees are non-existent for cryptocurrencies, minus any standard network fee outside of the platform. Technically, there is no minimum deposit requirements but the minimum order trade size is around $1 in value for all trading pairs. Note, however that there’s no Gate.io fiat deposit option.
To cash out, simply hit the Wallet link at the top of the page and go to withdraw. Here you choose the currency, if you hold multiple, and enter another wallet address. This is all protected by two-factor authentication.
And while there’s no Gate.io minimum withdrawal, maximum daily limits vary per coin because their values differ.
Gate.io withdrawal time is as fast as the network can handle. Generally, this is considered ‘instant,’ but in reality, it will be anywhere from a few minutes to a couple of hours. It could be over a day in rare cases, but this is outside of the platform’s hands.
Under the trade link, you can jump straight into spot trading, where you exchange one cryptocurrency for another. There’s a standard display and a professional display, depending on your experience.
Choose your currency pair and go for the current market price or set a limit order in the hope of a more favorable purchasing or selling price.
As mentioned above, the Gate.io minimum trade is valued at around $1 for all trading pairs, so beginners are not priced out of the market when starting out.
Gate.io leverage is available for margin trading, which means trading at a value several times higher than the crypto or assets you actually hold. You can base your margin on the entire basket of your assets (i.e., gross margin) or isolate funds specifically for margin trading.
At Gate.io, you can borrow funds for margin trades from other users in the marketplace. To protect all parties involved, the platform reserves the right to force liquidation. This observes the total capital of the margin account, and if the risk is higher than the ability to cover losses, forced liquidation occurs. Fortunately, you cannot go into a negative balance and can only lose your initial investment.
The amount of Gate.io leverage you can set and the amount of funding you can acquire depends on the market. Leverage falls between 3x and 10x, which is lower than some exchanges that stretch to 100x.
Let’s look at the following example. Suppose you have the equivalent of $400 in your account and borrow $100, bringing the total to $500, and you put it on Bitcoin. In this case, if the BTC value rises by 20%, you will earn $100. But at 10x leverage, you’d make a profit of $1,000, enough to pay back the lender and any fees, with plenty left behind just for you.
If you’re a Gate.io pro, you might want to consider investing in futures and margin trades rather than just buying and selling on the spot.
Futures are derivatives of digital assets settled with USDT (a stablecoin pegged to USD) and BTC. The process creates a contract to buy or sell these assets at a set price at a set time in the future. In other words, you’re betting on making a profit based on a rise and fall in the price on the market.
Perpetual contracts are the same as futures but without a settlement date. You can hold or trade the instrument for an indefinite amount of time. Of course, the purpose is to settle when it’s most beneficial to you. These can be highly leveraged, and like margin trading positions, can be automatically executed to control risk to the market.
On the Gate.io platform, perpetuals can be found under Derivatives on the Trade link.
The Gate.io crypto exchange facilitates exchange-traded funds for cryptocurrencies in the form of tokens. They can be bought and sold during the day but function much like a traditional mutual fund. You’ll find over 100 to choose from under the Trade tab, and they can be leveraged 3x and 5x.
Once again, ‘handsfree leverage’ means the automated system handles liquidation.
The Gate.io exchange has implemented a copy trading system that allows users to follow and ‘copy’ the trades and strategies of other successful users. There are ‘general strategies’ that can help beginners and more elaborate trading approaches employed by the exchange’s ‘top gainers’.
Copy trading isn’t without its risk, but the nature of the system shows proven long-term winners and lets you follow along for the ride.
There’s a lot of data to ensure you don’t make a mistake, including the best earners and their strategies, the most copied strategies, the most profitable strategies based on results, and various other parameters. For example, if you prefer the Gate.io ETH market, you can search and implement strategies just for that.
To get started, choose from the above or use the filters at the top to select your market, strategy type, running time, and average rate of return. There’s also a search bar if you know the name of the trader you wish to copy.
The Gate.io platform likes to reward its users for regularly using its services. Rewards are issued when you meet certain conditions, including simply transferring your first funds for trading.
The HODL & Earn system offers asset holders fixed and flexible term interest on their crypto. Investors are rewarded within 7 to 28 days, depending on the chosen arrangement.
Notably, interest may be issued via coins like ATOM, ALGO, E.O.S, Tezos, and USDG, not necessarily the Gate.io coin you prefer to hold.
Non-fungible tokens or NFTs are a relatively new phenomenon in the crypto world but are already a popular and fun endeavor. Above all, they provide a money-making opportunity if approached correctly.
In short, an NFT is a unique digital token (hence non-fungible) that cannot be copied or replaced. Therefore, owning one means you are the only person on earth that has it.
Most NFTs are created through the Ethereum Blockchain, and the Gate.io crypto exchange facilitates their sale and trade.
NFTs, for the most part, represent digital content and art. Everything from a fun meme or talented drawing to a piece of digital music can be sold as an NFT. Creators selling NFTs are selling full ownership of that work, and the blockchain ensures there is only one legitimate owner.
Yes, there’s nothing stopping anyone from copying a digital image online but only the NFT holder is the owner of the actual original piece. Much like an experienced art collector might have a real Monet, while others have fake copies of it.
In many ways, it’s just a bit of fun, and it’s not known quite what the future holds for NFTs, but if you want to join in as a creator, buyer, or trader, hit the NFT link at the top of the exchange to enter the marketplace. You’ll need some Gate.io ETH to make a purchase, though you can also use the equivalent in BTC, USDT, and GT.
The Gate.io Application Programming Interface (API) is fully available for developers by clicking the ‘more’ link at the top of the page and scrolling to API. Here you will find documentation for WebSocket and SDK.
This lets you create your own interfaces, trading bots, strategy builders, and other programs based on the Gate.io platform and its historical data.
Gate.io is more than just an exchange. It’s also a community for its traders. You can create a full profile page, follow other users, be followed, and interact with each other. This includes public and private chats, forums, and the ability to consume the latest news and ideas together.
While it’s not quite Facebook, the growing community spirit brings a higher level of trust to the platform and allows a space for beginners to learn organically.
US customer limitations
Due to regulatory hurdles, Gate.io US customers, as well as residents of Canada and Japan, have limited access. Namely, they are free to open an account but are restricted to buying crypto at market value and basic spot trading. Even then, not all coins are available. They might also be prevented from margin trading and perpetuals.
If you are from the US, you must declare this when registering and give a valid and verifiable address to confirm your location. A VPN or proxy will not work in this case because you will also be required to share copies of identity documents.
Residents of New York and Washington states are banned altogether. Other completely banned jurisdictions include:
- North Korea
The Gate.io desktop app allows for a distraction-free window for the browser-style platform without the need to actually open the browser. This is more convenient for some and keeps your activities out of the Chrome history.
Versions are available for Windows and macOS, both with the same interface. It lets you launch the exchange quickly from the dock or taskbar, more easily switch between accounts, and manage an extra level of notifications.
Furthermore, if you’re concerned about privacy, you can lock the app behind an extra password (beyond your regular login) and use Apple Touch ID on the Mac version.
Gone are the days of banks and traditional lenders being the only financial institutions that can provide finance. The site offers a wide selection of services, including:
- Crypto Loans: Borrow funds in your chosen cryptocurrency.
- Margin Borrowing: Borrow funds to increase your maximum leverage when trading.
- Interest: Earn interest on crypto holdings you ‘lock-in’ for long-term or undefined periods of time.
- Lending: Lend your crypto to other traders.
- Liquidity Mining: Provide mining liquidity to the market and earn fees for doing so.
So, Gate.io, is it safe?
During this Gate.io review, several security features stood out that should reassure you of its safety. Firstly, signing up takes several steps, including verifying your email address and choosing a separate password for when you wish to withdraw crypto.
Two-factor authentication is turned on by default, which means before you can log in, you must enter a code sent to your verified email address. Once registered, you can switch this to an SMS message from within your account settings.
The Gate.io platform itself uses the expected SSL encryption protocol to protect data being sent back and forth. Meanwhile, despite the hoops of providing ID documents, the KYC requirements ensure only genuine traders use the exchange.
Extra security comes in the form of cold wallets. These are offline crypto wallets that store funds on decentralized hardware, which itself is under lock and key.
Despite all these security measures, Gate.io not as highly regulated as some other exchanges, especially those like Plus500 that support traditional trading alongside crypto. On the flip side, that means a bit more freedom in the crypto realm. Judging by the fact there’s never been a big security breach, you can be sure Gate.io is legit and it manages to protect its users.
Making Gate.io reviews of each feature, I also explored the demo account option. Needless to say, this is a very handy functionality, especially for those just setting their foot on crypto trading.
The platform’s testnet software allows you to run strategies and trade from real-world data to learn the ropes before using your real funds.
Gate.io fees come in several forms. Fortunately, there is no deposit or withdrawal fee beyond the standard network charge applied by any given coin.
And here’s what you’ll be paying in transaction and position fees:
Gate.io exchange fees depend on your last 30-day volume of trading and how much you are holding.
For example, on the lowest tier, trading 1.5 BTC with no holding elicits a 0.2% Maker fee and 0.15% GT debit, and a 02% Taker fee with a 0.15% GT debit.
On the highest VIP 16 tier, with a volume of 75,000 BTC and 50,000 GT holdings, the Maker fee is as low as 0.055% with a -0.01% GT debit and a 0.065% Taker fee with a 0.025% GT debit.
Gate.io transaction fees also apply to futures and come in tiers. For example, with no holdings and a 30-day trading volume of 1.5 BTC or below, there is a 0% Maker rebate and a 0.050% Taker fee with a 0.075% point deduction.
At the high-volume 16th tier, where 30-day Volume/GT holding is at least 75,000 BTC/50,000 GT and total holdings are at least 2,500 BTC, you get -0.025% as a Maker, while the Taker fee/point deduction is 0.030% / 0.075 %.
Lending fees start at 18% on the lowest tier and reach 5.4% at the highest tier, thanks to a 70% discount.
Gate.io Mobile App
You’ll find the Gate.io mobile app on both the official Google Play and Apple Stores, where it has decent ratings among users.
The Android version has garnered a 3.1 out of 5 rating from over 6,000 users. And the iOS version now has a 3.7 after a rocky start. Yet only 95 users have given it their time, so there’s still more to learn.
During this Gate.io app review, I found everything was there with a tidy mobile-friendly interface. However, desktop use is still more manageable if you’re serious about studying the data and trading.
There’s something about the smaller screen that doesn’t quite work with the trading window and charts. Plus, recent Gate.io user reviews report a glitch in the KYC verification process if you attempt to do it solely over mobile.
As a result, using your desktop browser is currently the best option unless you’re just checking a few things on the go.
Gate.io Customer Support
While conducting this Gate.io exchange review I found a multitude of ways to contact staff. It has almost every social media channel under the sun, each with its DMs open. Furthermore, you can use the 24/7 live chat icon on the site itself or via the Talk and Telegram apps.
That’s without mentioning standard email support. Users can also use an email-based ticketing system to keep track of their queries through their account.
Additionally, Gate.io reviews have praised its extensive help center, which includes a full guide on how to use the site and more advanced tips for its various trading methods.
Gate.io vs Binance
When comparing the platform to other exchanges, one of its closest rivals is Binance. But which should you choose, Gate.io or Binance?
A closer look shows both platforms offer basic and advanced trading options, such as margin trades with leverage. They also both support a ton of extra features, like NFTs and crypto loans.
Yet, Gate.io has the advantage when it comes to supporting the most coins. On the other hand, Binance takes the lead with 20x maximum leverage, while Gate.io limits traders to 10x.
Each has similar security measures, and while Binance now has a separate site for US users, Gate.io US customers can use the main site in a limited fashion. Restrictions are similar, but Gate.io is available in more US states. If you are from the US, Gate.io wins out.
Both platforms let you buy crypto with fiat, but Binance gets the edge here because you can hold a fiat balance and use it in trades as well. Gate.io only allows you to use the exact fiat purchase amount.
Overall, Binance is more popular and has a higher daily trading volume. It also charges less, particularly for lower volume traders. For example, Binance’s first-tier has a 0.10% Maker/Taker fee, while Gate.io charges 0.20%. It’s a similar case for futures.
Ultimately, unless you are from the United States, Binance provides a better opportunity to maximize profits based on similar features.
Gate.io Review – Verdict
In conclusion, after carrying out Gate.io reviews of all the key features, it’s clear that this is a formidable crypto exchange. The comprehensive variety of trading and account features — from simply buying BTC with your credit card to advanced derivatives and finance — appeals to both beginners and experienced users alike.
Those high-volume traders will be even more pleased to find the sliding scale of fee reductions based on trading and holdings.
Gate.io also supports an impressive number of cryptocurrencies, and it adds new coins all the time. And, while the mobile apps aren’t perfect, the desktop and browser versions are not difficult to navigate at all.
Overall, Gate.io is not the cheapest exchange out there, but it has stood the test of time and is one of the more accommodating for US users.
If you’ve ever asked, “is Gate.io safe?” the only answer is yes! Hundreds of thousands of people use the Gate.io app and browser site every single day, and it has a well-established track record. The company uses cold storage to safeguard funds. Moreover, the app can utilize two-factor authentication and biometrics to ensure nobody else gains access to your holdings, even if they have your device.
There are some negative Gate.io reviews of the app, but overall, it scores high on the official app stores.
Yes, Gate.io US customers are legally permitted to use the platform. However, due to US regulation red tape, not every single feature is available. Residents of New York and Washington states are banned completely from the platform. More advanced trading is off the table, but you can buy crypto and trade on the spot with the most common coins.
Gate.io withdrawal is simple thanks to its wide support of cryptocurrencies. Simply go to your desired cryptocurrency wallet, enter the withdrawal amount and a supported address. Unfortunately, although you can buy crypto using fiat methods, you cannot hold a fiat balance or withdraw fiat currency.
As explored in the detailed Gate.io review above, there are no deposit fees. However, you will incur varying fees for withdrawing, trading on the markets, futures, and crypto lending. Gate.io uses a generous tier system that rewards high-volume regular traders with fee discounts.