Gate.io Crypto Broker Review: A Perfect Trading Platform for Experts?

Gate.io is an older crypto exchange known for its wide selection of cryptocurrencies and altcoins. It offers margin trading, spot trading, futures contracts, lending, and staking.

The platform is geared toward experienced traders, with an interface that would be intimidating for beginners. However, it makes up for this by offering low fees and high functionality.

I’ve seen Gate.io mentioned multiple times on crypto forums. Naturally, I was intrigued. So, I decided to use the platform for two months and share my experience with it.

I wanted to see whether this exchange really lives up to the hype. In this review, I’ll go over what Gate.io offers and what it’s like to use the platform.

Pros and Cons of Gate.io

Pros

• Partially or fully available in most countries
• Supports most cryptocurrencies
• iOS and Android apps for mobile trading
• Advanced trading features
• No minimum deposit
• Supports trading bots
• Supports copy trading

Cons

• Complex platform that would be difficult for beginners
• Only licensed in Hong Kong and Malta
• Needs better customer support
• No fiat withdrawals
• Susceptible to risky cryptocurrencies
• Barred in some countries

 

Evaluating High Impact Factors

Trade with Gate If:

• You’re an experienced trader
• You want to trade new or obscure coins
• You live outside the US, China, Canada, or Japan
• You value security features like KYC
• You’d like to deposit funds using different fiat currencies
• You want to try different types of investments

Don’t Trade with Gate If:

• You’re based in the US, Canada, Mainland China, and Japan
• You’re a beginner
• You prioritize customer support

Verified Office Address

Gate.io has two physical locations: one in Seoul and the other in the Cayman Islands. Crunchbase lists the platform’s main office in George Town, Midland, Cayman Islands.

Unfortunately, that’s all I could find. I wasn’t able to uncover a specific address.

Gate.io Background and History

Lin Han founded Gate.io and is still the company’s acting CEO.

It started as Bter.com in 2013, rebranded in 2017, and eventually had to move out of China due to regulatory uncertainty.

Its native token launched as an ICO in 2019 and has since garnered several use cases within the trading ecosystem.

At the time of writing, Gate.io operates in over 200 countries.

Expert Opinion on Gate.io Review

Gate.io has been around for over a decade, so plenty of expert traders have had a chance to use the platform and share their opinions of it.

Users on Capterra had mixed feelings about Gate.io. For example, Anuj K called it the best crypto exchange program he’s ever used. He particularly liked that the exchange has over 1,000 cryptocurrencies and many users who bring volume to the exchange. However, he was disappointed by the laggy mobile app and the unintuitive interface.

The YouTube channel Learn How to Make Honest Money Online was more favorable, emphasizing that Gate.io is a safe platform.

The host observes, “Take a look at the coin market cap. You can see that in the last 24 hours, the trading volume has been over 2.5 billion dollars. If you look at the derivatives, it’s more than 1.5 billion dollars. So, in total, it’s about 4 billion dollars.”

He also mentions that he’s only had good experiences with the app. “I and millions of other users have never had any issues with Gate.io. Everything has worked for me perfectly, and I have been using it since 2018.”

Paul Reynolds on Quora disagrees and shares his frustrating experience with the platform’s stop-loss feature.

His answer to “Is Gate.io Trustworthy?“ is, “Some time ago, I opened a short position protected with their stop loss feature. Their stop loss did not fire, and I suffered substantial loss because their system ignored the stop loss.”

He adds that the platform’s customer service has been entirely unhelpful. “For the next 1.5 years, I’ve been trying to get replies from support. They seldom reply.”

Expert Review of Gate.io

Since the opinions online were mixed, I decided to try the platform for myself and see how it goes.

Gate.io is a massive exchange with millions of users and a high trading volume. At the time of writing, It had a trading volume of $10.5 billion and 14 million registered users.

While it’s true that the user interface isn’t beginner-friendly, you shouldn’t have any problems with it if you’ve used trading platforms before.

The platform also has useful features like crypto loans, which allows you to lend or borrow cryptocurrencies to earn interest or trade with them.

Overall, Gate.io is a solid platform that gives you access to more than 1,700 cryptocurrencies. However, be careful when buying new crypto on the platform to avoid buying into scams and meme coins.

One of Gate.io’s biggest perks is its app. Here are some of its features:

iOS Features

• Easy-to-access order management tools
• Exhaustive portfolio management insights
• Two-factor authentication
• Real-time market data
• Password-free payments
• Telegram login support

Android Features

• Extensive spot trading interface
• Access to a wide range of order types (stop loss, trailing stop loss, and more)
• Advanced security protocols
• Beginner-friendly UI
• Access to token launches
• Access to airdrops and the Web3 stack

Web Features

Although the mobile apps are convenient, some features are only available on the web version:

• OTC trading support
• Lending, margin trading, and futures trading
• Integrated charts with easy-to-work-with indicators

Signing Up with Gate.io

Gate.io has a simple signup process. Just enter your contact information and select a payment method to start trading. Here are the steps I followed to create my account.

1. Go to the Gate.io Homepage.

2. Start Registration: Click the Sign Up button on the top right corner of your screen.

3. Enter Signup Details: Fill in the required information (email/phone, password, country of residence) and a referral code (if you have one).

4. Go Through KYC (Know Your Customer) Verification: Upload your identification documents and use your device’s camera to verify your identity. Depending on your country, you might also need to provide proof of address.

The Gate.io Dashboard

Gate.io’s dashboard is simple to use. Everything you need is in sight, and you can start buying or selling crypto with just a few clicks.

TradingView powers Gate.io’s trading engine, so you get professional tools for placing trades and analyzing markets.

There are plenty of charts and figures to help you keep tabs on the market. While all the information might be overwhelming for new traders, experienced investors will find the dashboard intuitive and easy to use.

Deposits and Withdrawals on Gate.io

Gate.io allows you to deposit funds in over 100 fiat currencies (depending on your location). There are four main deposit methods you can use:

• Express: Buy crypto directly from your bank account
• Debit or Credit Card: Use your card to deposit money into your Gate.io account
• Bank Transfer: Move money from your bank account to Gate.io
• P2P Trading: Receive funds from another crypto wallet

Gate.io supports more than 200 means of payment, including the most common ones like Visa, PayPal, and MasterCard.

I tried the option of a Debit Card Deposit, which is available in all unrestricted countries. I was able to load Euros to my account quickly and seamlessly. Within a few minutes, I had bought Bitcoin and was ready to trade.

Unfortunately, I found the fiat withdrawal to be quite slow. My withdrawal took three days to process – much longer than it takes with competitors like Stake. However, the Bitcoin transfer was quite fast.

Trading Conditions on Gate.io

Gate.io has a broader trading platform, and there are a few things you should know before deciding to use it. Here’s a breakdown of what I observed while trading on the platform.

Slippage

Slippage is the difference between the price at which you expect to trade and the price at which your order actually gets filled. It can occur due to sudden price movements, especially during high volatility or low order book liquidity.

Gate.io offers various order types, including limit orders, that allow you to specify a price limit to help manage potential slippage.

Fees

Gate.io uses a maker-taker fee model:

• Makers who add to the pool by increasing liquidity typically don’t have to pay fees
• Takers pay 0.025% in fees

These fees are competitive compared to other exchanges, but keep an eye out for volume discounts that can further reduce your trading costs.

There are no hidden costs beyond the maker-taker structure. However, network fees associated with specific cryptocurrencies might apply when depositing or withdrawing funds.

Spreads

The spreads can vary significantly based on the chosen trading pair. High liquidity pairs like BTC/USDT typically have tighter spreads, while less liquid altcoins have wider spreads.

Spreads also tighten during periods of high market volatility. This is because market makers adjust their prices more frequently to manage risk, leading to a temporary increase in the spread.

Requotes

Requotes can happen on Gate.io if you try placing a market order but the price has changed significantly since you placed the order. In such cases, the platform will requote you with the current price.

Requotes can be good when you’re trying to sell crypto and the price hikes significantly, but they can be infuriating if you placed a market order while the price was high and you’re requoted a lower price.

Inactivity Fees

Gate.io doesn’t charge a fee for inactive accounts. You can store cash or crypto on the platform for as long as you’d like. However, some margin trading features can incur fees for holding positions overnight.

How to Start Trading with Gate.io

Before I conclude my review, I want to take a moment to tell you how to start trading on this platform. I found the process straightforward, especially if you have a convenient payment method.

You can trade with the web version of Gate.io or download its Android or iOS apps. Since there’s no significant difference, I used the website.

Here are the steps:

1. Open Gate.io and log into your account. Then, click on buy crypto.

2. Select your preferred payment method.

3. Link your payment account or card and complete the KYC verification.

4. Choose the currency and crypto you wish to buy.

5. Once the crypto is deposited into your Gate.io wallet, go to the homepage, click on “Trade,” and choose your preferred trading method.

Useful Tools for Traders on Gate.io

Gate.io isn’t just a market for buying and selling crypto; it’s a playground for traders to try different things and earn from their crypto. Here are some of the tools and features that will help you do that:

• Simple Earn: Crypto lending is my go-to method for generating passive income. It’s like a crypto savings account, where you earn hourly interest (which can be compounded) on coins you loan out to other users.
• Flash Swaps: This feature is the best for quick trades. It lets you swap coins instantly without needing an order book, which is perfect for catching market swings.
• Staking: This lets you lock up your coins for a set period and get potentially higher returns, which is ideal for long-term holdings.

Advanced Trading Tools

• Futures Contracts: Speculate on future crypto prices by entering into a contract that requires you to buy crypto at a predetermined price on a set date.
• Margin Trading: Amplify your potential returns by borrowing funds from Gate.io to trade with leverage.
• Contract Leveraging: Similar to margin trading, contract leveraging allows you to borrow money from Gate.io and use it on futures contracts.

Investing Opportunities with Gate.io

Gate.io offers experienced traders several ways to invest.

Simple Earn

Simple Earn is a risk-free way to grow your crypto holdings while earning some extra tokens and returns. You simply deposit crypto into it, then it loans out your holdings to people who need funds. In exchange, you receive interest on the loan, paid out in the same coin you deposited.

Flexibility is essential for a specialist trader, and Simple Earn is a great way for me to lock in a good APY (Annual Percentage Yield) while still getting access to my funds. Instead of locking up the funds, I can redeem them at any point.

NFT Marketplace

Gate.io also has a full-fledged NFT marketplace where you can buy, sell, and create NFTs.

Copy Trading

Copy trading is another way to earn on Gate.io. It allows you to find successful traders on the platform, copy their trades, and earn when they make a profit.

Here’s how it works:

1. Log into your Gate.io account.

2. Click on Copy.

3. Choose between futures copy trading, spot copy trading, and bot copy trading.

4. A list of the most successful traders will appear. Select one that looks promising and click the Copy button below their profile.

How to Find the Right Copy Trading Target

While Gate.io gives you a list of the most successful traders, finding the right person to copy can be tricky. Here are a few metrics you should consider when looking for promising accounts.

• Win Rate: The percentage of winning trades the strategy has gotten. A higher win rate is desirable and an important factor to consider.
• Return on Investment: The overall profitability of the trader’s strategy. Are they making profits?
• Trading Style: Gate.io allows you to filter traders by conservative, balanced, and aggressive trading styles. Choose the one that works for you.
• Maximum Drawdown: The largest peak-to-trough decline experienced by the strategy. A larger drawdown indicates a riskier approach to trading.

Gate.io Affiliate Program

Gate.io has an affiliate program that allows you to earn a commission by inviting new users to the platform.

Currently, the platform offers up to 60% commission on spot trading fees generated by your referred users. This can be a lucrative venture if you manage to refer enough active traders.

To help affiliates succeed, Gate.io gives them access to the following marketing material:

• Text links
• Banner codes
• API access
• Social media kits