Gate.io Exchange Review 2023 – Trading Fees, Features, & more

Introduction

Gate.io is one of the oldest cryptocurrency exchanges that offers a wide range of cryptocurrencies for trading, including bitcoin and Ethereum, with a daily trading volume of over $5.79 billion and 12+ million users as of Mar 2023. We will examine the platform’s features, fees, and user experience to provide an overall rating of Gate.io

Overview

Official Website	https://www.gate.io/
Founding Year	2013
Head Quarters	Cayman Islands
Trading Volume	$930 Million
Trading Options	Spot, Margin, P2P, Leveraged, NFTs, etc
Trading fees	Maker fee – 0.20%, Taker fee – 0.20%
Total listed Coins	1400+
Trading Pairs	301
Supported fiat	81
Withdraw options	ERC, TRC, BEP2, BEP20
Bank withdrawal Supported	Yes
Withdraw fees	The network fee for Crypto withdrawal
Deposit methods	Bank Transfer, Debit/ credit cards
Restricted countries	7+
Native Token	GT (Gate Token)
Mobile app	Yes
Support Channel	https://www.gate.io/help
Coinpedia rating	8/10
Security rating	8/10
User Interface	Easy to use
Ease to set up	Easy
App store Rating	3.4
Play store Rating	4.4
Security	Secured
Hacking attempts/Hacks	Hacked in 2014
KYC verification duration	3-5 days
Regulation & Compliance	Compliant
Liquidity	High
Proof Of Reserve	https://www.gate.io/proof_of_reserves

What is Gate.io?

Gate.io is a cryptocurrency exchange that has consistently ranked among the top exchanges in the world. The exchange was founded in 2013 by Lin Han in China. Its headquarters is currently located in the Cayman Islands. 

The exchange offer spot, margin, derivatives, ETFs, and perpetual tradings with a trading fee of 0.20%. It also offers copy trading and bot trading where you can copy the strategies of top gainers and implement them into your trading strategy. 

Gate.io has currently 12 million users with more than $5.79 billion in trading volume. It is active in more than 224 countries and has 1400+ cryptocurrencies on its platform. 

Timeline

2013	Gate.io was launched
2017	Establishes Research Institute
2018	Launches wallet.io
2019	Officially launches Gate Chain
2020	Announces DeFi Ecosystem Development
2021	Officially Launches NFT Magic Box
2022	Surpasses 10 million global users

Features

• Trading Types – It offers spot trading, margin trading, leveraged tokens, ETFs, derivatives trading, and NFT assets. With the convert option, you can convert your crypto into another crypto easily without any additional charges. 
• Trading Fees – The trading fee is 0.20% for beginners. It follows a VIP tier level trading fees model where they consider the 30-day trading volume and the number of Gate Tokens (GT) you hold in your account. The more trading volume and GT, the lesser the trading fees
• Strategy Bot trading – Now you can copy the trading strategies of other traders and gain profits. Choose your assets wisely. Do your own research before implementing this. 
• Copy trading – You can copy trading strategies of top gainers for derivatives trading
• Earn – The exchange has various structured investment products where you can earn passively. Some of them include – Lend & Earn, HODL & Earn, Structured Products, Crypto Lending & Dual investments
• Crypto Loan – You can get crypto by giving your cryptos as collateral with nominal interest rates
• Mining – You can opt for cloud or liquidity mining to earn passively. In cloud mining, you can purchase contracts and lease hash rates for mining purposes. In liquidity mining, you can provide liquidity to the mining pool by staking your cryptos. In both minings, you won’t require technical expertise and yet generate a fair amount of cryptos.

Cryptocurrencies Available on Gate.IO

The exchange offers more than 1400 cryptocurrencies on its platform. Some of the popular cryptocurrencies are

• EdaFace
• Ethereum
• Litecoin
• GateToken
• Morpher
• ATOM
• Dogecoin
• Tron
• Solana
• Shiba Inu

How to Create an Account on Gate.IO?

Let us learn how to create an account on Gate.io

1. Log on to the Gate.io website
2. Click on [Sign Up]
3. Enter your email ID and create a password. Confirm the email by clicking the link sent to your inbox
4. Congratulation you have opened a new account on Gate.io 
5. You will get a $30 bonus for your first cryptocurrency deposit and $20 for buying cryptocurrency with a debit card or selected payments.
6. We recommend you verify the account to get access to the full features of the account. You can provide documents like a passport, driving license, or any government-issued ID Card for ID verification
7. You can also include additional security features like 2FA, SMS verification, email verification, setting fund passwords, etc. 

Some of the key benefits of having KYC include as mentioned below

 KYC – 1 (Basic verification)

• Daily withdrawal limit: up to 100,000 USDT
•  Buy coins/deposit/trade: Unlimited

KYC – 2 (Advanced verification)

•  Daily withdrawal limit: up to 2,000,000 USDT
•  Added: Welfare Center / Points and Coupon Center

KYC- 3（Address verification）

• Daily withdrawal limit: up to 8,000,000 USDT

How to Buy Cryptocurrency on Gate.IO?

Let us learn to buy cryptocurrency 

1. Log on to your gate.io account
2. Click [Buy Crypto] & Select [Credit Card]
3. Select the cryptocurrency you want to purchase, enter the purchase amount and select the payment method (Banx/ Simplex)
4. Click Continue and fill in the necessary details like email ID, phone number, address, etc. 
5. Enter your debit/ credit card details. Click [Continue] 
6. You will get a notification once the transaction is complete. 

How to Sell Cryptocurrency on Gate.IO?

Let us learn to sell cryptocurrency on Gate.io

1. Log on to your gate.io account
2. Click [Buy Crypto] & Select [P2P trading]
3. Click [Sell]
4. Select the cryptocurrency you want to sell and the fiat currency you want to receive
5. Click Continue. You will have to enter the fund password also for this transaction if you have set additional security for your account
6. Review the order and confirm
7. You will get a notification once the order is complete

How to Deposit Cryptocurrency on Gate.IO?

Let us learn how to deposit cryptocurrency on Gate.io

1. Log on to your gate.io account
2. Click [Wallet] > Funds Management > Deposits
3. Click [On Chain Deposit]
4. Select the cryptocurrency you want to deposit from the coin menu. 
5. Select the right network and copy the deposit address or Scan the QR Code from the withdrawal platform
6. Review the details and Select [Confirm]
7. You will get a notification once the transaction is complete 

How to Withdraw Cryptocurrency on Gate.IO?

Let us learn how to withdraw cryptocurrency from this exchange

1. Log in to your Gate.io account
2. Click on [Wallet] > [Funds Management] > Withdraw
3. Click on [On Chain Withdrawal]
4. Select the cryptocurrency you want to withdraw Coin new
5. Paste the address you want to withdraw from. Select the correct network, or else the coins might be lost and cannot be refunded
6. Review the order details and click confirm 
7. You will get a confirmation once the transaction is completed

Exchange Fees & Supported Payments

There are no deposit charges for depositing crypto. However, withdrawal fees are applicable and vary depending on the cryptocurrencies.

The exchange follows a VIP level for calculating the trading fees. The users with more 30-day trading volumes are automatically upgraded to the respective VIP levels and enjoy a discount on trading fees. But users who hold and pay in GT (Gate Token) are given an additional discount in trading fees. 

The exchange supports 81 fiat currencies including USD, EUR, GBP, INR, QAR, etc

The maker and taker fee is 0.20% for a new user. 

Tier	30-day Volume	Maker / Taker (GT Debit)	Maker / Taker (VIP)
VIP 0	0 USD	0.15% / 0.15%	0.2% / 0.2%
VIP 1	60,000 USD	0.139% / 0.146%	0.185% / 0.195%
VIP 2	120,000 USD	0.131% / 0.139%	0.175% / 0.185%
VIP 3	240,000 USD	0.124% / 0.131%	0.165% / 0.175%
VIP 4	500,000 USD	0.116% / 0.124%	0.155% / 0.165%
VIP 5	1,000,000 USD	0.109% / 0.116%	0.145% / 0.155%
VIP 6	3,000,000 USD	0.101% / 0.109%	0.135% / 0.145%
VIP 7	8,000,000 USD	0.07% / 0.101%	0.125% / 0.135%
VIP 8	20,000,000 USD	0.06% / 0.094%	0.115% / 0.125%
VIP 9	50,000,000 USD	0.05% / 0.086%	0.105% / 0.115%
VIP 10	100,000,000 USD	0% / 0.058%	0.095% / 0.105%
VIP 11	120,000,000 USD	0% / 0.045%	0.085% / 0.095%
VIP 12	240,000,000 USD	0% / 0.037%	0.075% / 0.085%
VIP 13	440,000,000 USD	0% / 0.03%	0.065% / 0.075%
VIP 14	800,000,000 USD	0% / 0.025%	0.055% / 0.065%
VIP 15	1,600,000,000 USD	0% / 0.022%	0.055% / 0.065%
VIP 16	3,000,000,000 USD	0% / 0.02%	0.055% / 0.065%

Mobile App

With more than a 4.4-stars rating Gate.io Mobile app is suitable for both beginners and advanced traders for cryptocurrency investment and trading. The app is simple and easy to use. Anyone can create an account and start trading within a few hours. It is available both on Apple and Google Play stores. 

Referral & Affiliate Program

Gate.io offers a referral program where you can earn a 40% trading fee commission. All you have to do is to invite your friends with the referral link and after they make the first trade you will start receiving a commission. The referee will get $50 back and $5500 USDTest right after their first trade!

Affiliate Program – Here you can get 60% commission on Spot & Futures trading and 10% on sub-affiliates’ total commission. 

Influencer Program – If you are a content creator then you can join this program where the referral bonus is $10 per user. 

Customer Support

It has a dedicated help section where you can browse a variety of topics and find answers to your queries. You can also raise an email ticket for your queries if you are not happy with the help section. For emergency and urgent queries, you can chat live with customer support. 

Hacking Attempts

Oct 2022 – Hackers compromised the official Twitter account of Gate.io and tweeted fake giveaways asking users to connect their wallets with a suspicious link. However, the security breach was detected early and it avoided a mishap. 

April 2021 – The PAID network was compromised and users lost digital assets. Gate.io compensated the users following the hacking event.

Jan 2019 – Hackers attacked the exchange and stole $275,000 worth of digital assets. Miraculously they returned $100,000 back to the exchange. The exchange claims that this is a White Hacking event

April 2018 – The exchange was hacked by South Korean Hackers and stole $230 million worth of digital assets. The exchange did not confirm this hack in public

Conclusion

With more than 1400 cryptocurrencies with a nominal trading fee of 0.20%, Gate.io is definitely a good exchange for both beginners and advanced traders. It has good trading volume and provides high liquidity to the market. Gate Token (GT) is the native token of the Gate Chain ecosystem. Gate.io give additional discounts on trading price if users are holding Gate token in their account.

The trading price is nominal and discounted trading price is given for high-volume traders and Gate Token Holders. It offers many earning programs where one can earn passively. All you need to do to achieve that is to select investment products after your own research.

The customer support is good and your queries can be solved within 24-48 hours time. However, many users report delays in customer service. The exchange has been hacked many times and is under severe scrutiny by the public. Do your own research before you invest in this exchange

FAQs