Gate.io Review

27 May, 2023

Gate.io is a top centralized crypto exchange with decentralized features. Supporting 1400+ cryptocurrencies worldwide, its 0.2% trading fee appeals to experienced traders. Gate.io has a utility token (GT) that can get massive discounts as high as 75% on trading fees.

Gate.io exchange review
Our Review
4.4
Pros
  • Wide range of cryptocurrencies.
  • Advanced trading tools.
  • Mobile app available.
  • Low trading fees.
Cons
  • Complex interface.
  • High deposit fees.
Our Editorial Standards:
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Gate.io 2024 Review: Is It A Secure Platform?

TLDR

In this in-depth Gate.io review, we will look at the good, bad, and ugly to decide if this is the right exchange for your needs.

Gate.io is a centralized exchange that supports over 1400 cryptocurrencies and has millions of users globally. The exchange is more suitable for advanced traders with its sophisticated features like futures trading, derivatives trading, margin trading, lending, and staking.

Aside from the high number of cryptocurrencies supported, the exchange is also available in almost all countries except a few.

Some of the reasons why Gate.io is popular among traders is the low fees it offers. It offers a maximum fee of 0.2% for both taker and maker fees. Users also get discounts for using Gate.io utility tokens.

There are still areas of improvement for the exchange, especially in declaring its legal status in the United States. The exchange website’s content suffers from subpar translations from Chinese to English and lacks sufficient customer support.

Gate.io Exchange Review.
Gate.io 2024 Exchange Review.

Introduction

Gate.io is one of the oldest cryptocurrency exchange platforms that has been in existence since 2013. The exchange platform is also one of the fastest-growing crypto platforms, with over 13 million registered users.

Gate.io is a centralized exchange, meaning users must deposit funds into the account while the platform connects buyers and sellers using a centralized order book. It is a reliable exchange that consistently ranks among the top cryptocurrency exchange platform. It was ranked as one of the best crypto exchanges in the UK for 2022 after a 4.8 rating by Forbes Advisor.

The exchange offers users numerous benefits and features. Even as a centralized cryptocurrency exchange, it provides features such as DeFi services, wallet services, venture capital investing, etc. All of these features will be unpacked in this review.

Gate.io Interface.
Gate.io Interface.

Who Should Use Gate.io?

This section tells you everything you need to know about who should use Gate.io.

For New Users

Despite the amazing features that Gate.io possesses, it can become easily overwhelming for new users. The platform does not support the deposit of fiat currency to buy crypto directly on the platform and can discourage new crypto traders.

However, the platform is highly sophisticated and easily compatible with advanced traders with digital assets. The platform also offers the option of margin trading, crypto lending, and staking.

Geographical Availability

It is available in almost all countries worldwide, attracting many users and investors. There are, however, some limitations in the countries where it can operate or limitations of some of its features in particular regions.

Countries such as Canada, Cuba, China, Iran, North Korea, Sudan, Syria, Singapore, Malta, Venezuela, Pakistan, Crimea, Netherlands, and certain U.S. states (Washington, New York) face limitations with the cryptocurrency trading platform.

Cryptocurrency Supported

One of the numerous reasons Gate.io is a go-to exchange for crypto traders is the number of cryptocurrencies it supports. The exchange currently supports over 1,400 different crypto assets and still enlisting more.

Some of the popular coins available on Gate.io includes Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), Dogecoin (DOGE), XRP, Cardano (ADA), Polkadot (DOT), Litecoin (LTC).¢

A selling point of the platform is that it offers traders access to not-so-popular coins. However, to avoid loss, care needs to be taken when investing in coins with low trading fees.

Crypto investments
Why Gate.io is one of the fastest-growing exchanges.

Gate.io Review: What Makes Gate.io a Good Choice?

Let’s find out the reasons why Gate.io is a good exchange.

Low Trading fees

When selecting an exchange for trading your digital assets, a crucial factor to consider is the trading fees charged on the platform. This is one of the features that make Gate.io attractive to traders. The centralized exchange has one of the lowest trading fees you can get.

The maximum fee charged from users either as a taker or makers is 0.2%. There are still ways of reducing this fee by holding GateToken (GT) – the native crypto token of Gate.io. Holders of this token are given a discount when they trade on the platform.

In addition to the low fee, Gate.io does not charge any fee for deposits or withdrawals, making it a trader-friendly platform.

Resource Materials

Gate.io has a sophisticated yet complicated interface. The trading features available on the platform can be overwhelming for new users. Resource materials are available to guide traders on the platform to mitigate these challenges, especially for new users.

One of the available resources is the Gate.io academy which allows learners to get more information about cryptocurrency and how to sharpen their trading skills. The academy provides courses and quizzes about crypto trading.

Gate.io academy has extensive resources.
Gate.io Academy has extensive resources.

Other resource materials, such as Gate.io Research and TV, provide in-depth reports and analyses of the crypto market to users. The TV also does technical analysis and broadcasts interviews with leading crypto experts.

Wide Range of Supported Cryptocurrencies

Another selling point of this centralized exchange is the wide variety of supported cryptocurrencies. Gate.io supports over 1,400 different, including the top cryptos with a high market cap.

The wide range of coins supported on the platform makes it possible to trade different coins for trading options – futures trading, spot trading, margin trading, and perpetual contracts trading – available on Gate.io.

Futures trading, spot trading, margin trading, and perpetual contracts trading.
Futures trading, spot trading, margin trading, and perpetual contracts trading.

You can also access numerous emerging coins usually unavailable on other crypto exchanges. It also supports about 50 fiat currencies through third-party platforms. It does not support deposits with fiat currency itself.

High Liquidity

Gate.io is also a competitive exchange with high liquidity. It is notable for a high daily trading volume of over $6.6 billion. This high trading volume implies you can buy and sell different crypto assets competitively.

User Mobility

Gate.io has a wide range of users distributed among countries and social demographics. The exchange supports this wide range of users by providing enhanced features and mobility.

The exchange is available in English, French, Arabic, Italian, German, Spanish, Russian, Portuguese, Korean, Vietnamese, Thai, Turkish, and traditional Chinese. Although the app is versatile in multiple languages, it has poor English translation.

In addition to its multiple languages, it has a mobile application that offers users more flexibility in trading crypto. The mobile app has a sophisticated design that is easily accessible and a direct image of the website version.

Gate.io Review: Major Drawbacks

As amazing as Gate.io is, it still has some drawbacks, which most users complain about. Some of them include:

Lack of Support for Fiat Money

One of the drawbacks of Gate.io is its lack of support for fiat deposits and withdrawals. The exchange only supports crypto-to-crypto trading. You must go through third-party apps before depositing fiat money, ensuring higher deposit and withdrawal fees.

You can see how to deposit on gate.io here.

Complex Interface

The Gate.io interface is utterly cluttered with numerous features and products, making navigation harder. The complex interface is a downright discouragement for new users and many other users. The website can be made to be more engaging and intuitive.


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5.0

Fees

0.1 – 0.5%

Tradable Coins

600+

Payment Options

+ 3

$600 Bonus & 45% Off Fees

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4.7

Fees

0.01 – 0.10 %

Tradable Coins

100+

Payment Options

FREE $10 + $4,000 Sign-up Bonus

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4.3

Fees

0.04% – 0.10%

Tradable Coins

145 +

Payment Options

$100 Welcome Bonus

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How to Set Up a Gate.io Account?

Follow this easy step-by-step guide to set up your Gate.io account.

Step 1: Visit Gate.io Official Website

Get started with Gate.io by heading to its official website.

Click the [Sign Up] button to proceed to the registration page.

Create an account by signing up.
Create an account by signing up.

Step 2: Create an Account

The sign-up button leads you to the registration page, where you can input your details. You are required to enter your e-mail and password.

You also need to accept the user agreement and privacy policy. Once done, click the [Sign Up] button below.

Enter personal details
Add your details.

Step 3: Welcome to Gate.io

After completing the registration process, your account is immediately created. Now, you can enjoy the benefit of the centralized exchange.

You can explore trading charts on the exchange by depositing crypto to start trading.

Login verifications
Start trading.

Gate.io review: Top Perks & Features

This section will review the fantastic perks and features that Gate.io offers users.

Improved Security Features

Most cryptocurrency exchanges are easily the target of hackers, and Gate.io exchange has not been an exception. North Korean hackers stole $234.33 million from Gate.io in 2018. In 2019, the crypto exchange lost over $270,000 to hackers, and following this incident, it has put in place robust security measures.

Gate.io has massively improved its security features and is ranked the most secure cryptocurrency exchange. Some of the features it employs include the two-factor authentication system. It works with Google Authenticator and SMS notifications.

Aside from the authentication process, the exchange also uses the Know Your Customer (KYC) feature to protect user funds. It is recommended to complete the KYC requirements before you deposit funds.

Gate.io makes use of both hot and cold wallets to store assets. It also allows users to move their crypto assets to other external wallets for more security. You also have a different withdrawal password from the login password to enhance the security features.

Advanced Trading Features

One of the upsides of Gate.io is the advanced trading features that distinguish it from its competitor, which is only basic trading. It has several sophisticated trading services for its users that attract experienced traders.

Asides from common spot trading, it supports margin trading, future, and leveraged trading, amongst others.

Here is a highlight of the other trading features supported by Gate.io:

  • Options trading: Options trading allows you to buy or sell an underlying crypto asset at any period.
  • Perpetual contracts: The trade of futures contracts gives users up to 100x leverage and has an extendable lifespan.
  • Margin trading: Trading is allowed and can be leveraged up to 10x with borrowed funds.
  • Leveraged Tokens: Leveraged token shields the trader from margin and liquidation risk.
  • Lending, Mining, and Staking: Gate.io also lets you earn passive income through its lending, borrowing, mining, and staking feature.
  • Flash token swaps: This trading feature allows swapping tokens with one another at a low cost.

Asides from all these, Gate.io also ensures traders maximize their trading experience and profits by offering services like social copy trading. It also has an NFT trading and wallet service that makes trading on the exchange near seamless.

Although it is important to note that some of these advanced trading features are unavailable in specific countries, you should know what features are permissible for your country.

Crypto community
Gate review: Product ecosystem.

Innovative Features

Gate.io has integrated several innovative features on its platform, making it a popular option for most experienced traders. One of the innovations introduced is the strategy bot.

The trading strategy bot incorporates the use of AI to facilitate trading services. You can design your trading strategies using the trading bot and give conditions for the execution of these strategies. With the involvement of AI, you can do more trading even when away from the Gate.io platform.

Another innovative feature on the platform is the NFT marketplace, where you can create your digital asset and earn royalties from it. The Startup feature also alerts users to new crypto projects where they can participate and get discounts.

Technical indicators for professional traders
Technical indicators for professional traders.

Transparency

Many traders are often concerned about the financial transparency of an exchange. Gate.io is among the few transparent exchanges about its financial process and asset storage.

A third-party agency has audited it, and the report clearly shows that the exchange has proof of reserves for all its assets. What this means for users is that they can withdraw their assets at any time from the platform.

Gate.io Review: Fees

Find out how much Gate.io charges users as fees for deposits, withdrawals, and trading.

Deposit fees

Gate.io does not support users to deposit fiat currency directly on its platform and therefore does not charge deposit fees. However, you can deposit fiat money through third parties, and the deposit fee depends on the external party.

Two common ways of depositing funds are using credit cards or bank transfers. Applications like MoonPay, Banxa, or Simplex manage card deposits, whereas Legend Trading handles bank transfers.

While you must exercise caution when using third-party apps, restrictions still exist on the supported fiat currency. But, the exchange allows for free cryptocurrency deposits without any associated fees.

Withdrawal fees

It is important to note that, like fiat deposits, Gate.io does not allow users to withdraw funds in fiat money. It only allows the withdrawal of crypto assets subjected to varying fees depending on the volume you want to withdraw.

Aside from the volume to be withdrawn, the withdrawal fee also depends on the type of crypto coin you want to withdraw. But, overall, it has competitive fees, which are much lesser when compared with other exchanges.

Trading fees

Gate.io makes use of a multi-tiered system for its trading fee. The fee for spot trading differs from those for advanced trading features like the futures market.

A flat fee of 0.2% is charged for spot trading, which reduces if the trading volume increases. The advanced trading fee adopts the maker-taker fee model. In simple terms, makers add liquidity to an exchange, whereas takers remove liquidity by completing orders.

In most cases, the maker fees are slightly lesser when compared with the taker fee. The maker fee for Gate.io is 0.025%, while that for the taker is 0.075%.

Although this fee is still one of the lowest among other crypto exchanges, Gate.io still offers users reasonable trading fee discounts when they use Gate.io tokens (GT). The token offers users a discount as high as 25% when they trade with the utility token. You can also get higher discounts when you trade higher volumes.

Higher withdrawal limits
Fees overview for Gate.io.

Gate.io Margin Trading

Like many other sophisticated exchanges, Gate.io allows margin trading on its platform. The feature allows users to trade assets with leveraged tokens by borrowing funds to increase buying power and profit.

For Gate.io, you need to operate a margin account and move some funds to the account from your spot account. The transferred fund serves as collateral; you can borrow up to 10x depending on your collateral.

The borrower must repay the borrowed funds before or on the due date. The consequence of defaulting is to lose your assets, and the margin position will be sold to pay off the loan.

Gate.io Rewards

In addition to the numerous discount options and sophisticated features available on Gate.io, the exchange still has a robust promotion and reward system for its users.

On the exchange, users can complete minor tasks and receive rewards based on the complexity of the task. The exchange categorizes tasks into four groups: Novice, Experience, Trading Volume, and Growth.

For instance, the tasks under the novice category involve making deposits, verifying accounts, etc. These are tasks typically required of users when they create an account on the platform.

The tasks are more complex as you continue to use the exchange and move across the task categories. However, the points gotten from the tasks cannot be withdrawn. Instead, they can be used to waive some fees like trading fees.

Gate.io App

The juicy benefits of Gate.io also extend to the availability of its mobile application. The app makes it easier for users to access the exchange on their mobile phones and can trade anytime, anywhere.

The Gate.io mobile app is compatible with Android and iOS and readily available for download on Google Play Store and App Store. It has similar features to the desktop version and does not restrict users from accessing the full functionality of the exchange platform.

The Gate.io app is fully supported and widely used by numerous global traders.

Mobile app for instant trading.
Mobile app for instant trading.

Gate.io Crypto Card

Gate Visa debit card is a new way to allow Gate.io users to convert and spend their cryptocurrency. The Gate card bridges crypto and fiat money by offering a seamless and secure way to convert digital assets. View our Gate.io card review here.

Free
  • Yes
Fees
  • 0%
Cash back
  • 1%

More details

Gate Group, has introduced the launch of a Visa Debit card for residents and citizens of the European Economic Area (EEA). The card converts crypto to fiat and can be used anywhere Visa is accepted, including online and in-store worldwide. With no annual or transaction fee and free delivery, it is in demand with a waitlist for early adopters.


  • No annual or transaction fees.

  • Has associated card App.

  • Bridges crypto industry and financial institutions.

  • Poor customer support.

  • Limited geographical availability.

The card partners with Visa to provide access to more than 80 million merchants globally, even beyond the EEA region. The bright side of the crypto card is that it has no fee involved. There is no annual charge or transaction fee when using the card in the European Economic Region.

The card is also linked with the mobile app, and you can have maximum control over your account. The app also allows users to temporarily freeze their crypto card in case of a compromised or missing card.

Gate.io crypto card
Instantly exchange your crypto for fiat.

Customer Support

Most cryptocurrency exchanges, both centralized and decentralized, often have poor customer support service. The Gate.io exchange is also one of the exchanges that have fallen into this category.

For customer support, a resource guide is available for most of the features on the exchange. The guide also holds some FAQs and security tricks that users might find helpful and provide information about the cryptocurrency markets.

The help center is also available if you do not get much help from the resource guide. You can submit a ticket request from the help center or alternatively use the live chat to connect with customer service.

Although it often takes a long time for customer support to reply via live chat, depending on the number of users in the queue.

Extensive support center
Help support.

Improvements

As amazing as the Gate.io exchange is, there are still some areas the exchange can improve upon to make it even better and world-class.

On top of the list of things to improve upon is the exchange status in the United States. It is unclear what the regulatory status of the exchange is in the US. Information is unclear regarding whether US residents are prohibited from using the exchange or if they face limited functionality.

Closely following the status in the US is the issue of poor English on the exchange. Despite the exchange’s original Chinese roots, a significant portion of the website remains in Chinese, and the English translation is inadequate.

Gate.io Review: Our Verdict

In conclusion, there is no doubt that Gate.io is a remarkable exchange, and it is far ahead of most of its competitors. One of its most hands-down features is the low fee that traders are charged on the platform.

It also offers numerous discounts and benefits to users. Users who hold the utility token can save massive trading fees on the platform. Gate.io also has a mobile app and crypto card for easy access to the crypto platform.

Although the exchange comes with sophisticated trading features, it is more suitable for advanced traders who already own crypto assets, as it does not support buying crypto directly with fiat currency.