Gate.io Exchange Review

When you’re looking for the best cryptocurrency exchange for yourself, chances are that Gate.io isn’t really going to be the first name that pops up on your radar. Ironically, though, it’s actually one of the oldest crypto exchange platforms in the industry, having been launched all the way back in 2013! Thus, in this Gate.io exchange review, we’ll check to see if the platform is worth paying attention to.

Gate.io has had some issues in the past, and thus, there are several user reviews left online that aren’t all that positive towards the exchange in question. Worry not, though, since I'll discuss both the pros and cons of Gate.io and leave no stone unturned by the very end!

I'll also guide you through the process of registering on the site and funding your account! Then, to finish off this Gate.io exchange review, I’ll let you know my personal opinion about the exchange, and whether it’s worth using or if you should turn to bigger industry names, such as Binance, Kraken, or Coinbase.

Verdict at a glance: Gate.io offers an extensive array of over 1,700 cryptocurrencies, competitive fees, and versatile trading experience with various trading options. It also provides earning features and a robust ecosystem with various Web3 and crypto tools. However, while it boasts strong security measures now, its past is marred by some shady incidents, and its interface can be a bit cumbersome.

James Aman

Web3 Researcher and Co-Founder at Topl Protocol

How important is it for a cryptocurrency exchange to support a wide range of cryptocurrencies that employ different consensus protocols?

It is beneficial to support a wide range of cryptocurrencies that employ different consensus protocols, ledger models, and operational guarantees, as any coin or token may be susceptible to manipulation due to their specific monetary mechanisms, technical architecture, or market dynamics.

What is Gate.io?

Let's start off this Gate.io exchange review with a brief introduction to the platform. As you already know, Gate.io was founded in 2013. At that time, it was based in China and known as Bter. However, after China banned ICOs and crypto exchanges in 2017^[1], it was relaunched and rebranded to Gate.io, becoming an international crypto exchange.

As time went by, Gate.io expanded more and more, releasing new features (which I'll discuss later) and establishing its presence all around the world. As of writing, it's accessible in more than 200 countries. Though, note that Gate.io is not accessible to traders in the US, Mainland China, Canada, Singapore, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, Crimea region, and Bolivia.

On top of that, traders in Hong Kong, the UK (retail users only), the Netherlands, Germany, France, Lithuania, and Italy have limited access to Gate.io's products and services. However, the company did open a few country-specific exchanges that comply with regulations in the countries in question, including GateTR in Turkey and Gate.HK in Hong Kong.

Now that we've got that out of the way, let's delve a bit deeper and explore Gate.io's pros and cons.

Gate.io Exchange Review: PROS

As I noted in the introductory part of this Gate.io exchange review, the platform did possess a bit of a tricky reputation in the past. This can be seen by observing some conflicting user reviews online - the opinions were rather split, and while some people noted the amazing benefits of Gate.io, others badgered on the more notable issues.

However, the company didn't ignore the negative user feedback and solved most of its issues.  That said, I'll still start with the positive aspects of Gate.io and work my way down from there.

Probably the most obvious benefit the exchange provides is its number of supported cryptocurrencies.

1,700+ Supported Cryptocurrencies

The variety of supported cryptocurrencies is one of the most diverse and inconsistent aspects of the different exchanges that are out there. While some platforms support but a few main coins and assets, others offer thousands of cryptos to trade and exchange.

In this regard, Gate.io falls into the latter category - there are over 1,700 different cryptocurrency assets available for you to trade on the site. It’s one of the most adamantly-proclaimed benefits mentioned in multiple user Gate.io reviews, too!

Now, the natural question that may arise from this is simple - why is it even important, in the first place? Well, it’s pretty simple, really - it has to do with society’s growing interest in cryptocurrencies, in general.

You see, some years ago, not that many people knew about cryptocurrencies, in the broader sense. As far as the mainstream trends were concerned, crypto newbies would usually aim to purchase Bitcoin, and perhaps some of the better-known altcoins, such as Ethereum or XRP.

This was the case up until late 2017 - early 2018. During this period, the crypto market experienced an unprecedented bull run and then crashed rather significantly^[2].

The skyrocketing prices of Bitcoin and most other coins, however, did have some lasting effects. One of them is the fact that a huge number of people came into the industry, and started researching some of the more-niche coins and crypto assets. This is evident by reading through some Gate.io exchange reviews, too.

With growing interest in a wide assortment of crypto-related assets, it’s only natural that cryptocurrency exchanges would step up their game and offer a wider variety of coins for trading and exchanging purposes. Since Gate.io is, in fact, one of the oldest exchanges on the market, it does make sense that it would offer a very wide range of coins!

To sum up, if you’re looking for some of the more-niche and less-known cryptocurrencies, chances are that Gate.io is going to be one of your best bets - a sentiment echoed by multiple Gate.io customer exchange reviews, too!

Strong Security Measures

If you’re wondering is Gate.io safe, you should know that security is undoubtedly the most important aspect of a respectable and longevity-boasting crypto exchange. Even things like trading pairs and fees fall behind - if the platform isn’t secure, no matter what type of deals it may offer, you would probably do best to avoid it.

Thankfully, though, there are quite a few user Gate.io exchange reviews that point out the site being on the more-secure side of things.

For starters, Gate.io keeps its users' cryptocurrencies in two types of wallets - hot and cold ones. The actual amounts (percentage) of the assets kept in each wallet are unknown, but the fact that the exchange utilizes cold wallets is already good news.

Cold wallets are hardware devices that do not maintain a connection with the internet. Thus, keep your private keys (and cryptocurrencies) away from the prying eyes of potential hackers and scammers. As far as cryptocurrencies are concerned, a cold wallet is the best type of security mechanism out there.

Apart from fund security, the Gate.io platform itself is secured by various strong security measures, including encrypted TLS connection, an anti-DDoS attack mechanism, DNS security, a WAF protection system, and third-party cloud security defense services.

Gate.io also utilizes the more common security tools. For example, you can expect two-factor authentication, which will help keep your account in-tact, and also place an extra added layer of security on your assets that might be located on the exchange.

Furthermore, you will also have the option to enable certain specific notifications that would inform you about specific events that are happening with your account. So, if anything were to happen, you would be notified immediately via appropriate communication channels.

All in all, is Gate.io safe? Well, the security features that are set in place on Gate.io are surely strong. The exchange doesn't stop with basic measures, expanding its security by employing more niche fail-safe protocols, too. So, it seems that Gate.io is quite safe.

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Compliant with Crypto Regulations

While we're on the topic of safety, it's worth noting that, at some point, if you were to look up the team behind Gate.io, you would have frankly run into a brick wall. More specifically, this information did not appear to be public - the company was anonymous. Besides that, many user Gate.io exchange reviews claimed that the platform was unregulated.

Some cryptocurrency enthusiasts saw this as a good thing. After all, if there’s no formal regulation, there are also far fewer KYC-related verifications that you’d need to pass in order to start trading. If you’re a fan of the decentralized nature of crypto, this can, in a way, be interpreted as a good thing.

Though, it also poses a huge danger. Unregulated exchanges are usually seen as being shady, and there’s never a guarantee that you won’t suddenly lose all of the crypto assets that you are trading. These types of exchanges are also seen as a haven for scammers and crypto hackers. Since you don't need to go through extensive identity verifications, it’s much easier to get away with foul play.

Gate.io did fall into the category of unregulated exchanges in the past, but what is the case now?

Well, actually, quite the opposite. For starters, it's pretty transparent now. It has also acquired more than one license in several countries, including the DMCC license in Dubai, the TCSP license in Hong Kong, the VFA Class 4 License in Malta, and the registration as a VASP in Italy.

Moreover, it takes KYC seriously, requiring all users to pass it. There are two levels, though. The first KYC level unlocks basic exchange features and only requires you to provide basic info about yourself, provide an ID, and pass facial recognition. The second KYC level, however, unlocks the Reward Center and more advanced features, but it requires proof of address.

In addition to that, Gate.io provides proof of reserves and employs regular security audits, automated contract audits, and real-time monitoring of chain events. It even has a user asset security fund, the Gate SAFU, which is valued at more than $100 million.

Therefore, Gate.io is definitely a regulatory-compliant crypto exchange. 

Trading, Earning, and Other Features

This wouldn't be a full Gate.io exchange review if I didn't talk about its features (and, let me tell you, it has A LOT of features). Though, let's start from the "in the past..." scenario once more.

Since Gate.io was an unregulated exchange, it didn't provide users with the option of buying crypto with fiat. The vast majority of modern crypto exchanges allow to trade fiat for cryptocurrencies, and vice versa. In most cases, you just need to pass some KYC checks, add your credit or debit card as a payment method, and then purchase the cryptocurrency that you like - simple.

Gate.io, however, did not support fiat currency payments in the past. That meant you could only purchase and trade cryptos on the platform with some other cryptocurrencies.

This could have been especially frustrating if you were a newbie and weren’t even sure how trading works in the first place. Why go through the hassle of purchasing cryptocurrencies on some other platform, only to transfer them to Gate.io to trade, when you can just trade that same crypto asset on that other platform?

Well, luckily, Gate.io became a regulatory-compliant exchange and introduced the possibility of purchasing crypto with fiat. You can easily do that using your credit / debit card or by making a bank transfer.

Though, you can do much more than just buy crypto with fiat on Gate.io. For starters, there is a variety of trading options, including spot, margin, futures, leveraged token, pre-market, and even block trading. It also offers automated trading tools, including trading bots and copy trading mechanisms, which newcomers often favor.

Just keep in mind that the features you can access depend on your location.

Moreover, Gate.io has several earning options, including ETH 2.0 staking, liquidity mining, cloud mining, and slot auctions. Plus, it has the Simple Earn feature, which allows earning through crypto lending, as well as the Structure Products feature, which provides users with pre-packed investment products.

Now, Gate.io is also an exchange tailored for institutional traders, as it provides a plethora of features for them, too. It offers a liquidity program, a broker program, VIP loans, custody and asset management tools, a global market maker program, OTC trading solutions, and more.

However, note that Gate.io is just a part of a much larger crypto ecosystem. There is also Gate Startup, Gate Web3, Gate Ventures, Gate NFT, and Gate Labs. The platform even offers the Gate Card, a crypto debit Visa card that allows you to spend your crypto in-store and online.

All these endeavors bring great benefits and tools to Web3 enthusiasts, making Gate.io a full-fledged Web3 hub.

Native GT Token

One more thing I must mention in the pros section of this Gate.io exchange review is the GateToken (GT). GT is the native token of the Gate.io ecosystem. It was launched in 2020 on the GateChain mainnet.

GT serves various functions within the Gate.io ecosystem. Some of its key uses include:

• Means for Increasing Your VIP Tier. Holding GT allows users to advance their VIP levels, granting them access to exclusive benefits such as better trading fees, flexible withdrawal limits, faster trading, exclusive management services, and more.
• Means to Cover Trading Fees. GT can be used as a means of payment for trading fees, potentially leading to discounts based on transaction volume.
• Exclusive Access. GT holders gain access to exclusive and high-profile activities launched by Gate.io, including vote campaigns, live mainstreams, discount sales, and more.

Initially, there was a total supply of 1 billion tokens, with a significant portion allocated as gifts to Point purchasers on the Gate.io platform. However, approximately 700 million tokens were subsequently burned, reducing the total circulation to 300 million tokens. The token operates as a deflationary asset, with burning and buyback mechanisms set in place to manage its circulation.

You can buy GT directly on Gate.io or other crypto exchanges. Of course, if you plan to use Gate.io, the former is a more convenient option.

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Gate.io Exchange Review: CONS

Now that I've discussed all of the main features of the platform, let's see what the not-so-overly-positive customer Gate.io reviews tend to say about the exchange.

I pointed this out at the beginning, but users do appear to have a few concerns regarding the exchange. Some are a bit more trivial, while others are more than valid reasons to turn to more renowned exchange platforms.

Previous Security Breach

At the beginning of 2019, during a 51% hack, Gate.io had its security breached. A hacker stole around $270,000 worth of ETC - Ethereum Classic.

Such security breaches were undoubtedly considered a red flag for many, as far as picking out an exchange for yourself went. Everywhere you've looked online, you would have likely found people commenting on how you should never use exchanges that have had their security breached.

Nowadays, things are a bit more lenient, though. Even some of the high-profile cryptocurrency exchanges and brokerages have had hacking issues, yet have come out on the other side undamaged (at least not to a significant extent).

In the vast majority of cases, this is because there was some sort of insurance in place. Without proper insurance (or, any insurance, whatsoever), if your funds DO get stolen, that’s it - there are no guarantees of you getting them back.

Now, while several past user Gate.io exchange reviews might have stated that this platform does not have insurance, the company claims that it has recovered most of the stolen funds and has advanced its security.

As you already know, Gate.io does employ a lot of advanced security measures now, and it definitely does have the Gate SAFU insurance fund.

This unfortunate incident probably was one of those "kick in the pants" moments that led the exchange to strongly reconsider its security. It seems to have worked; as of May 2024, Gate.io has remained free from any significant hacking incidents or legal challenges since 2019.

Somewhat Clunky Interface

The Gate.io user interface does have a lot of different features, that’s true. However, upon first registering on the exchange and starting to use it, quite a few users report that the layout of the site, and the trading interface, aren’t really… simple.

Indeed, reading through user Gate.io exchange reviews, it’s evident that there are quite a few people who find the platform confusing, in general. The main complaint appears to be the fact that the UI is a bit clunky, and somewhat overwhelming.

This is, admittedly, going to be a concern for anyone who hasn’t got any experience with crypto exchanges, whatsoever, or has never used any type of asset exchange or brokerage, in general.

Though, it’s worth mentioning that Gate.io has a mobile app version of the exchange, which appears to be optimized a bit better than the desktop site.

Gate.io Fees

That's pretty much it when it comes to pros and cons. However, reading through some of the user Gate.io exchange reviews, it’s rather apparent that fees are one of the exchange’s main selling points. Let’s take a look at why that might be the case.

Whenever discussing cryptocurrency exchange-related fees, two terms usually come up – market makers and takers. While you’ll find a rather wide variety of descriptions online, the general idea is that makers are people who place an order to purchase crypto at a set price, while takers buy instantly.

Yes, it’s much more complicated than that, but for this Gate.io exchange review, such an explanation should suffice.

You see, makers and takers usually have different fees - it’s normal for a taker to pay higher fees than the maker, since the former purchases cryptocurrency instantly, without having to wait for a certain price.

With Gate.io, things are a bit different. The exchange offers VIP 0 - VIP 2 level traders a flat spot trading fee model, which means that both takers and makers pay the same fees.

Naturally, the fees should be reasonable, too - and they are! Gate.io charges a 0.1% initial trading fee, which is pretty good! The industry standard varies, so you might find exchanges that will charge you anywhere from 0.1% up to 0.5%, depending on a wide range of factors.

What's up with the VIP levels, though? Well, Gate.io's fee system is tiered based on your 30-day trading volume. You start at VIP level 0 with no trading volume and can progress all the way to VIP level 16 once your trading volume reaches $3 billion. So, while maker and taker fees start at 0.1%, they can go all the way to 0% for makers and 0.02% for takers.

But that's not all; if you cover your fees with GT, you'll get a 10% discount. Besides, you can use Gate.io Points to cover spot and margin trading fees (1 Point equals 1 USDT in trading fee deduction). You can earn Points from the Gate.io Reward Center or buy them.

Now, futures trading fees are also based on the maker / taker fee structure and a tiered model. The maker fees start at 0.015% and go down to 0%, while the taker fees start at 0.05% and go down to 0.02%. However, you cannot reduce them with GT tokens or use Points to cover them.

Having said that, I also need to discuss withdrawal fees in this Gate.io exchange review (deposits have no fees). This is rather difficult, though, since the fees depend on the cryptocurrency you want to withdraw.

If you were to withdraw Bitcoin via the Bitcoin network, for example, you’d be charged around 0.000254 BTC, while an Ethereum withdrawal via the Ethereum network would cost you 0.000232 ETH. If we were to take this as the average, it’s actually very good! It’s much lower than the industry average, which places Gate.io together with some of the top exchanges out there, fee-wise!

How to Use Gate.io?

So, I've covered the main pros and cons of Gate.io, as well as its fees. While some user Gate.io exchange reviews report somewhat negative experiences, most point to the beneficial features of the platform.

However, before I sum things up, let’s take a hands-on approach and check how simple (or difficult) the usage of the platform is. I'll go over the registration process, as well as discuss how to add funds to Gate.io and purchase your desired cryptocurrencies.

How to Register on Gate.io?

First of all, let's go over the registration process.

Step 1: Go to the Gate.io official website and press [Sign Up].

Step 2: On the screen that pops up, enter your email and referral ID (if you have one), pick your country, and create a password. Also, don't forget to read and accept the User Agreement and the Privacy Policy.

Step 3: You will be then asked to verify your email address. The code will be sent to your email.

Step 4: Once you verify your email, that’s it - your account is created. However, while old user Gate.io exchange reviews might tell you that you can start trading after this step because it does not enforce strict KYC verification guidelines, it's not the case anymore.

Upon logging into the site, you will be prompted to pass KYC verification (submit your name, ID, etc.). You must do this in order to access exchange features.

The first level of KYC verification will take around 2 minutes, while the second level will take around 10 minutes.

I have to hand it to Gate.io - the registration process is super quick and effortless. It literally took a couple of minutes to enter my details and verify my email, and then a couple more to pass the first KYC level - the process was quite hassle-free, too!

How to Fund Gate.io?

Now that you’ve registered on the platform, the next step is to fund your account with some crypto and start trading (of course, you can also simply buy crypto with fiat, if you don't have any yet).

Step 1: Once you’re logged in, find the [Assets] button at the top-right corner of the screen, hover your mouse over it, click on [Funds Management] and then [Funds Overview].

Step 2: You will be able to find all of your funds on this page. At this point, you'll have none. To deposit some crypto into your Gate.io account, click the [Deposit] button next to the spot wallet or the one at the top of the screen.

Step 3: A deposit window will pop up. Here, you'll see that you have two deposit options: the Onchain deposit, which allows you to make a deposit from any crypto wallet or exchange, and the GateCode deposit, which only works for deposits between Gate.io accounts. Let's choose the former option.

Step 4: In the newly opened deposit window, select the coin you want to deposit (for example, Bitcoin) and the network you want to use. 

Within the next few seconds, a Bitcoin wallet address will be generated for you. You can either copy-paste it or scan the QR code. Just make sure to always double-check to see if the address is correct in the wallet or exchange from which you are depositing your crypto.

Step 5: Once you’ve made the deposit, depending on the strain on the Bitcoin blockchain, you might have to wait around 10 minutes for it to appear on your Gate.io balance. From this point onward, you can begin trading!

As you can see, the depositing process is very quick and straightforward, same as the registration process discussed earlier - this is something that is agreed on throughout most user Gate.io reviews.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions

Now, to conclude this Gate.io exchange review, a single question remains - would I myself recommend trying Gate.io out?

Well, it’s a tough call. I would actually recommend it in some specific situations, but there are also quite a few more acclaimed options to pick from. Binance, Bybit, and Coinbase are perfect examples.

Nonetheless, Gate.io does, in fact, have an unprecedented number of niche cryptocurrencies available to be traded (over 1,700!), supports a mobile app, and has very decent fees. Is Gate.io safe? Based on its extensive security measures, it seems that it is.

It also supports spot, futures, margin, leverage, and other types of trading, as well as offers various other features (like staking or mining). Plus, the extensive Gate.io ecosystem offers many more useful tools. Thus, it might be worth considering for those who are well-versed in the topic of crypto, and those who are looking for some less-known assets to start trading.

On the other hand, the exchange in question does have a shady past and a bit of a clunky interface.

Either way, no matter which exchange it is that you end up choosing, I hope that this Gate.io review was useful to you, and that you’ve learned something new about crypto, in general. Best of luck!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.