Gate.io is a cryptoasset exchange located in Cayman Islands. Their volume over the last 12 months is $24.72B. The exchange is rated “A” which means “Transparent.” They are a crypto-only exchange.
Gate.io is a one-stop-shop trading service that provides crypto-to-crypto trading operations. The platform was founded on Cayman Island in 2013 by Lin Han. Now its headquarters’ locations include Malta and Illinois, US. The service is operated by Gate Technology Inc. based in Virginia, US, and belongs to one of the oldest cryptocurrency exchanges.
Initially named as Bter.com, the exchange was rebranded to Gate.io in 2017. It is considered to be one of the most rapidly developing cryptocurrency platforms. The exchange with a good selection of crypto coins offers matching orders at the best price. At the moment of writing, the platform offers the trade, investment, and digital wallet services of more than 200 digital assets, serving millions of users from over 130 countries.
The company launched an excellent IEO platform and financial services for advanced traders such as margin lending with 10x leverage. It is more suitable for more experienced users as beginners can feel lost at the service with a bit cluttered interface.
In 2015, the exchange suffered from the hacking attack that entailed the loss of 7,000 BTC from the cold wallets of the exchange. At that time, the platform had the name Bter.com but it had to rebrand when fiat to crypto trading was banned in China in 2017. After the closure of the old domain, the service excluded the fiat-to-crypto trading option and decided to focus on crypto-to-crypto exchange.
The exchange is dedicated to the security and experience of its users, therefore, going to the site the customers get access to a secure trading environment with simple functionality that delivers fair exchange for all users. The company promises to safeguard the digital assets of its clients and protect trading information. The security is provided by such measures as super secured SSL Link, offline Bitcoin Wallet Technology, two-factor-authentication, anti-fishing code, blind IP logins, and other built-in security mechanisms.
Gate.io was rated as one of the top exchanges in the aspect of cybersecurity by CER. When GateChain was introduced in 2020 it became a novel solution for blockchain transaction safety. Also, though KYC verification isn’t obligatory, the person withdrawing over 1000 in USD can be asked to prove his identity.
Those who trade on-the-go, can use the mobile applications that were developed for iOS and Android devices. The website of the platform reveals the information on liquidity, trading volume, and other data via graphics. A good set of versatile features makes work on the platform convenient. Being a multifaceted exchange it can be hard to provide easy-to-use functionality but the developers of Gate.io did a good job.
The navigation is effortless on the website despite the overwhelming features embedded on the site. It’s clear for users where to go for margin trading, IEO platform, borrowing, lending, and other sections. The main menu includes these sections so all trading services can be found at once. The possibility to customize the background contributes to usability as well as it’s possible to choose between the night and day modes. The chart’s view that can also vary from simple to professional.
Those who want to invest in popular cryptocurrency projects can make use of Gate.io’s IEO platform. It brings the highest profit as the average ROI of the Gate.io IEO platform exceeds 300%. The requirements for participation are very easy as users are only obliged to pass the KYC procedure. The IEO platform uses Gatechain token (GT) which was issued in 2019.
The perpetual contract’s testnet was launched on the service to help the beginners start trading with ease. The novices don’t have to spend real money until they feel that they are ready to invest real funds.
In April 2020, the platform launched GateChain, which is an innovative public chain with a focus on secure storage and exchange of blockchain assets. It supports efficient decentralized transactions and enables the issuance of your own tokens to digitize assets or using GT as a transaction carrier. The GateChain uses exclusive vault account technology and a clearing protection system thus protecting users’ accounts. The management of digital assets under the same account can be customized by users themselves.
Participation in PoS mining activity on Gate.io helps to make the system stable and secure. PoS mining activity will provide a stable source of income for miners.
GateChain ecosystem includes GateChain mainnet, GateChain DEX, wallets, etc. All these tools form a decentralized ecosystem that features enterprise-grade safety and efficiency for digital asset storage, issuance, and trading. GateChain DEX uses engines of ultra-high performance thus providing low cost, fast and transparent trading experience. With the launch of GateChain, novel concepts were introduced such as vault account standing for account enabling revocable transactions to avoid loss of funds. Also, such notions as retrieval account, revocable delay period, clearing height, etc. appeared.
Gate.io fees The platform doesn’t charge any fees for depositing while withdrawal and trading fees remain at a pretty low level. The financial operations (depositing/withdrawals) are performed instantly. The trading fees are not high as the service charges 0,2% of the total order amount.
The rich functionality of the website enables customers to use such features as margin trading, lending or borrowing funds, take part in period investment plans and make investments into IEO using Gate.io startup platform. The users get access to perpetual swap contracts and other useful features.
Gate.io customer support
The customer support is available 24/7 via live chat. Users can apply to the FAQ section first that describes all possible issues in detail. There is also a New Use Guide at the disposal of customers. In case there is insufficient information there, users can submit a support ticket, although the residents of some countries can’t use the service. The full list of supported regions can be found on the website of the platform.
The platform was founded by Lin Han who takes the position of CEO in the company. It may seem that the platform is not transparent enough as the information about the team is not readily available online. All we know is that this is a group of dedicated professionals who want to bring out a better user experience without compromising on functionality.Read More