Gate.io Review

Here Are Gate.io's Pros and Cons

Gate.io fact sheet

When it comes to security and safety Gate.io has one problem which is the lack of regulatory licenses. Being a crypto exchange, it is not looked at favorably by most governments and because of this, they don’t have any regulators. This is seen as a big red flag by some traders who feel that they will be unprotected if something were to go wrong.

On the other hand, there are traders who like that Gate.io is not regulated. It is a legit exchange that has other security measures adopted for users' protection. So, there are traders that feel protected and like the fact that they are not being observed by governments. You are not required to pass verification to trade on Gate.io and this is something that many traders like about this exchange. But know that unverified users have some limitations placed on them.

Security measures adopted by Gate.io

Being an unregulated exchange, Gate.io has to adopt high-security measures in order to protect its users as much as possible. For this, the first step that Gate.io takes is it implements an insurance policy for all users. What this means is that if someone were to hack into Gate.io and steal users' funds, these users are protected by this insurance policy.

But billions of dollars flow through Gate.io on a daily basis and of course, this insurance policy can not cover all of it. Because of this, Gate.io stores the majority of the funds in cold wallets that are off the grid. This makes it impossible for someone who hacks into Gate.io to access the majority of the funds, and if a hacker somehow manages it, it would take unimaginable effort and expertise.

Lastly, Gate.io has a multifactor authentication system in place. What this means is that users can receive one-time generated codes on their emails, phones, or authenticator apps, and only after entering these codes can they access their accounts. This makes sure that even if someone were to get their hands on your login credentials, they will be unable to access your account unless they also have access to one of the devices where you receive these codes.

As we mentioned before Gate.io has a very large selection of cryptocurrencies that traders can trade with. Currently, it has 1505 cryptos available on its exchange, so if you wish to trade with a certain token, the likelihood of it being available is very high. These 1505 cryptos are then paired up to make 2766 trading pairs.

Here is a small list of some of the major tokens available on Gate.io:

• Bitcoin
• Ethereum
• Solana
• BNB
• XRP
• ADA
• Doge
• Shiba Inu
• Polkadot
• Matic

Note that this is a very small list and as we know there are way more tokens available on the exchange.

When it comes to trading features, Gate.io practically offers almost everything. Traders can trade on both the spot and futures markets, use leverage for margin trading, and they can also convert one coin directly into another without the need of going to the market.

Gate.io also offers copy trading. Here traders can look up successful traders on Gate.io who offer their strategies. Once a trader finds another trader whose strategy he likes he can simply start to follow that trader and the system will automatically repeat the same trades the trader we are following does. Gate.io also has simple to-set-up trading bots, which can be programmed to follow certain strategies, this is great for those who want to automate their trading but can’t find a good trader to follow or simply don’t want to pay fees to these traders.

Gate.io also has different earning mechanisms in place. Traders here can stake their tokens or put them in savings accounts and earn interest on them. There is also the ability to loan out cryptocurrencies where you are the one choosing interest rates and loan durations, but here you will need to find someone who will loan these funds from you. Another way to earn passive income on Gate.io is to provide liquidity. Any exchange needs liquidity, so to attract users into providing liquidity Gate.io offers good interest rates to these liquidity providers.

When it comes to fees and commissions just like almost any other exchange, Gate.io uses a maker/taker fee structure. If you don’t know what this is, it is a fee structure where the exchange charges different fees depending on if you are a maker and have limit orders in place, or if you are a taker and trading on spot prices. Below, we will give you Gate.io’s maker/taker fee structure.

At first, Gate.io's website might be overwhelming for some traders. When visiting the website, you will be met with all kinds of different information about the exchange and its features. Things don’t get much easier as you go to different parts of the website, as each section also has a good deal of different information on display. But this does not mean that this is a bad website.a

This information that is almost everywhere on the website is not a useless placeholder but provides us with much-needed market updates and other relevant info. The website is very well-designed when it comes to navigation. The menu bar has different sections, and each section has its own sub-sections. This makes grouping exchange features easier, and finding what you are looking for is very straightforward. But we should note that this is not really a beginner-friendly website, so if you are new to crypto trading be ready to have some difficulties at first.

This is one of the best parts of Gate.io as it has a really well-built educational system. Here you can find a dictionary of basic crypto terms, video guides on different crypto-related topics, guides and articles on different cryptocurrencies, blockchain, and so much more. This is a great place to learn about crypto and take your first steps into the world of crypto trading.

They also have a good “Learn and Earn” feature where newcomers can learn about cryptocurrencies and as they learn they receive different rewards. These rewards won’t make you rich, but they will be really insignificant, and leave you with a feeling of having earned something.

Gate.io also has a news and events section. Here they list the latest crypto and blockchain-related news, most of this news also affects the price of certain tokens, so receiving this news is crucial for market analyses. The Crypto events section is another great area to visit as you receive further marker insights, that might lead to accurate market predictions.

Gate.io also has a very well-crafted support center. When visiting this page you will be met with different topics such as trading, fees, security, and more. Each of these sections will take you to the FAQ section regarding this subject where they answer most questions. 

If you don’t find the answer to your question, or you need assistance from support staff you can submit a request. Here you will need to describe in detail what problem you have, and Gate.io staff will contact you shortly to help out. There is also a live chat option on the website where you can chat with support staff in a live format. 

When it comes to the mobile app, Gate.io offers two versions of the app, regular and lite versions. As the name implies, the lite version of the app is more simple and easy to use with limited functionality. This is a great app for beginner traders, as it is unlikely that they will need anything more from the mobile app other than what is offered on the lite version.

When it comes to the regular version of the app, it is pretty much the website version of the exchange in the mobile app form. When using this app, traders can pretty much do almost everything that they are able to do when using the website, even AI trading can be accessed using this app. The best part is that you don’t need to close and open each of these apps if you want to switch between them, as there is a dedicated button for that, to make this process simpler.

Now let’s take a look at how we can get started on Gate.io and what steps we need to follow for doing so.

Step 1: Registration

Being a centralized exchange, we need to register our account on the exchange. For this, we simply need to enter our email address and come up with a password that meets Gate.io's requirements. Then simply confirm your email address by the code sent to it, and you are ready to go.

Step 2: Verification (Optional)

Since Gate.io is not a regulated exchange, they are not required to verify every trader's identity. Because of this, you can still trade on Gate.io without verification, but what you can do will be limited. To remove these limitations, you simply need to provide your personal information and upload a picture of your ID/passport/driving license. 

Step 3: Deposit funds and start trading

When it comes to depositing funds on Gate.io you can not deposit Fiat currencies since it is an unregulated exchange. But you can still directly purchase cryptocurrencies using a credit card. You can also directly deposit crypto into your wallet if you hold tokens on a personal wallet or other crypto exchange.