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Gate.io review
Gate.io offers over 500 crypto assets and 1,000 trading pairs. Here's our review which covers fees, cryptos
- Huge selection of crypto coins, tokens and trading pair
- Unregulated exchange with no fiat currency deposits
Check out our full list of pros and cons or read on.
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8
Fiat currencies
1553
Cryptocurrencies
Details
| Product Name | Gate.io Cryptocurrency Exchange |
|---|---|
| Fiat Currencies | USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN |
| Cryptocurrencies | BTC, ETH, ETC, XTZ, CLV, EOS, OMG, BNB, LUNC, LUNA & 1544 more |
| Deposit Methods |
Cryptocurrency |
| Trading Fee |
Maker: 0.20% Taker: 0.20% |
| Deposit Fees | None |
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Overview of Gate.io
Gate.io is a crypto-to-crypto exchange platform that started in 2013 as Bter.com before rebranding to Gate.io in 2017. The exchange was originally based in China, but has since moved to the Cayman Islands. An important aspect of Gate.io is that it is an unregulated exchange. This means there is no oversight for the platform and this increases risks of using it.
Gate.io offers an extensive selection of cryptocurrencies for trading, with competitive trading fees. It also specializes in smaller market cap assets that many regulated exchanges will not list. Continue reading Finder’s Gate.io review to learn more about features, fees, and what it’s like to use the exchange.
- If this is your first exchange: Gate.io is likely too complicated for you and is unregulated. There is no way to deposit fiat, so you must already own crypto to trade on the platform. You are likely better served with a regulated exchange that accepts fiat deposits unless there is a specific asset on Gate.io you want.
- If you’re switching exchanges: Gate.io has an enormous number of trading pairs and many passive income earning features. Withdrawals can be expensive, but if there is a small cap asset you are interested in, it is likely on Gate.
Pros and cons of Gate.io
Pros
- Huge selection of cryptocurrencies
- Competitive trading fees
- Many ways to earn passive income
Cons
- Not a regulated exchange
- No fiat deposits or withdrawals
- High withdrawal fees for crypto
- No insurance fund
Verdict: Is Gate.io any good?
If you are looking to trade cryptos across a wide range of trading pairs, with competitive fees, Gate.io might be a good choice. Its focus on listing smaller market cap assets draws in users who are interested in those coins and tokens. This is because they are often slow to be listed on any other centralized exchange, giving Gate.io an advantage. Gate.io is able to list whatever cryptos it wishes because it is unregulated. This means there is no protection for the consumer. It may be better to avoid the exchange if that statement is concerning. That being said, there are many ways to earn passive income on the platform and it is fairly easy to navigate if you are familiar with trading interfaces.
What to know about Gate.io
Gate.io has one of the biggest catalogs of crypto coins and tokens on the market, and has competitive trading fees. Trading fees can be further reduced by holding its native GateToken (GT). There are a variety of features that allow users to earn passive income. The platform also offers NFTs.
Traders should note that Gate.io is not a regulated exchange. This is why there are no fiat currency deposits accepted on the site. Though there are tons of supported digital assets, and deposits of crypto are free, withdrawal fees can often be high. Users looking to buy small market cap coins may find Gate.io to be a good platform. For anyone trading large cap coins, they would likely be better served with another exchange that is actually regulated.
Finder ratings
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| Transferring money or assets | |
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Fiat withdrawal and deposit fees
| Deposit | Withdrawal |
|---|---|
| N/A | N/A |
Crypto withdrawal and deposit fees
| Deposit | Withdrawal |
|---|---|
| 0 | Varies by asset, but can be high. (ex 0.001 BTC, 2.5 LINK, 18 MANA) |
What is it like to use Gate.io?
Gate.io is a slightly more complex exchange compared to others on the market. There is a lot for traders to take in on the interface. It is more likely suited to experienced traders, but the platform has a lot to offer all users.
Getting started / Gate.io KYC
Gate.io requires all users to complete KYC before being able to access any of the features on the exchange. Once information is submitted, you must wait for approval.
Trading terminal
Gate.io offers an extensive trading terminal. There is a lot to look at for new users. Experienced traders will likely enjoy the options.
Gate.io Promotions
There are frequent promotions on Gate.io. This includes basic referrals, along with special trading activities. There are one-time tasks and bonus campaigns available.
Earning interface
Gate.io offers a variety of options for earning passive income. They can all be accessed at the Finance tab. There are lending, mining, and other interest-bearing options.
Gate.io Customer service
Gate.io offers a live chat option for customer service. The responses are made by a bot unless you click to contact a human. It does not take long for a person to answer, though the answers are often unhelpful according to reviews on Trustpilot.
Does Gate.io have good customer support?
Gate.io offers little in the way of customer support. There is a live chat option that initially directs you to the FAQ. Failing to find an answer in there, you can talk to a bot. If that doesn’t solve the issue, then users can choose to speak to a human who responds fairly quickly (under 2 minutes when requested by Finder). The only other contact is by email.
Both methods of customer service have been rated poorly by sites such as Trustpilot. Poor reviews indicate a lack of helpful answers, or really slow response times. Users are advised to do due diligence before registering for any exchange, including Gate.io.
| Support offered | Wait times | |
|---|---|---|
| Contact us form | ✅ | Days to weeks |
| Live chat | ✅ | 5 minutes or less |
| Phone | 🅧 |
List of services on Gate.io
Gate.io offers a wide selection of services for its users. This includes the ability to earn passive income on the platform, copy trading, NFTs and promotions.
Earning on Gate.io
Gate.io provides traders with multiple earning services. There is a basic investment plan as an option. There are also mining options for dual-asset liquidity pools, single asset vault lending, cloud mining and more. HODL&Earn is a service that allows users to earn an APR of 4–50% depending on assets. There are minimum deposit amounts for this service, along with lock-ups.
Copy Trading on Gate.io
Apart from the spot and futures markets available on Gate.io, it has recently introduced Copy Trading. This allows traders to copy other users’ trading strategies. In exchange for letting their strategies be copied, the trader gets a 5% piece of the profit you get from their strategy.
Gate.io NFT trading
Gate.io has a devoted NFT section called NFT MagicBox. Here users can find Initial NFT Offerings (INOs), along with an NFT market. Traders can buy new NFT projects using INO, or buy and sell existing NFTs on the marketplace. The top NFT projects on Gate.io are also listed.
Promotions on Gate.io
Gate.io runs lots of promotions for its users. These range from basic tasks like verifying your account, to more complicated tasks like participating in Futures trading. There is also a Daily Attendance check-in that rewards users for logging in and checking in on the reward page. Rewards are paid out in USDTest, which can be used to participate in special activities. The refer-a-friend program pays out a 40% commission every time your referral completes a trade.
Trust rating
Gate.io is an unregulated exchange. This means that there is no authority overseeing its actions. Despite this, the exchange has strong security, and has only been hacked once in its history. Gate.io has no insurance policy for users.
Past hacks
There have been no hacks of Gate.io under its current iteration. However, it started as Bter.com, which was hacked successfully in February 2015. During the hack, 7,170 BTC was stolen from the platform. The company announced that affected users would be repaid in batches using the exchange’s future profits in conjunction with a BTC loan they received. There have been no hacking incidents since.
Security audits
There have been no audits of the exchange’s security systems. In 2020, the company had an audit to prove Bitcoin reserves done by Armanino. It proved it had the reserves to cover customers’ holdings. However, it is the only asset it has had audited, and it proves nothing about the security of the exchange.
Insurance
There is no insurance provided for users of Gate.io. However, in instances where users’ accounts were affected, the company reimbursed them out of pocket.
Signing up on Gate.io
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Gate.io FAQ
Is Gate.io safe?
While Gate.io has lots of options for security on the platform, it has been hacked in the past. In addition, the exchange is unregulated. Do your own due diligence before using Gate.io.
Where is Gate.io located?
Gate.io is located in the Cayman Islands
Can US residents use Gate.io?
Yes, US residents can use Gate.io as long as they do not live in Washington or New York states.
Who is the owner of Gate.io?
Gate.io was founded in 2013 by Lin Han.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.