Gate.io Review 2023 | Safety, Fees, Pros & Cons

Gate.io Review Image
Jack Moreau
Aug 2023
7 min to read
Fact checked

Gate.io Introduction: In this in-depth breakdown we review Gate.io, the digital exchange that has grown from humble beginnings to one of the biggest exchanges in the world. Read on to find out more about the product and services offered by Gate.io and decide if it's the right exchange for you.

Gate.io

pros & cons

Pros

+1700 Cryptocurrencies
Spot, Perps, Margin, Options
+185 countries
100X Futures Leverage

Cons

Spot trading fees (0.2%)
High crypto withdrawal fees
No fiat deposit/withdrawals
Average user experience

Gate.io

vs alternatives

Gate.io
Kucoin
OKX
Founded
2013
2017
2017
Users
12M
20M
20M
Cryptos
+1700
+800
+350
Spot Fees
0.2%
0.1%
0.08%
KYC
Yes
Yes
Yes
Countries N/A
US, CH, CA, SG, MY
US, China
US, CA
Best for
Altcoin hunters & 100X Leverage
Altcoin hunters
Spot & Futures trading
Rating

What is Gate.io?

Gate.io was founded in 2013 by Lin Han in China and is today registered in Virginia, United States as Gate Technology Inc.

Gate.io Exchange
Gate.io Exchange

Gate.io is one of the biggest cryptocurrency exchanges in the world serving 12 million registered users across 224 countries.

Gate.io offers over 1500 cryptocurrencies and 2700 trading pairs. The company frequently reaches 24-hour trading volumes above $1 billion. 

Gate.io has throughout the years raised over $74 million dollars in funding and has over 300 employees. While its headquarters are in the Cayman Islands, the company has a wide geographical footprint today.

Gate.io KYC requirements

Signing up to Gate.io is super easy and only takes 1 minute. 

  1. Visit Gate.io and click signup in the top right corner
  2. Signup by entering email or phone number
  3. Enter the activation code that has been sent to you
Gate.io Signup Welcome
Gate.io Signup Welcome

In order to deposit and withdraw cryptocurrencies, all users must go through the mandatory Know Your Customers (KYC) process of Gate.io.

Gate.io KYC requirements
Gate.io KYC requirements

The KYC process requires users to provide information about their country of residence, full name, date of birth, and identity verification. Users must also do a facial recognition and provide proof of address.

Gate.io Crypto Products

Gate.io offers a wide range of products and services.

Gate.io Products & Services
Gate.io Products & Services

1. Gate.io Spot Trading: 

Trade over 1500 cryptocurrencies and 2700 trading pairs. Gate.io offers a very wide range of altcoins that you won’t be able to find in most other exchanges. 

2. Gate.io Margin & Futures trading: 

Gate.io offers margin trading with 3-10X leverage and futures trading with 10-100X leverage. on many cryptocurrencies. Users can use BTC and USDT as underlying collateral to borrow funds. 

3. Gate.io Leveraged Tokens: 

Up to 3-5X leverage without the need for any collateral and risk of liquidation. Gate.io takes a 0.1% daily fee to cover costs. Leveraged products do however increase price volatility and thus bring a greater risk of loss.

4. Gate.io Startup: 

Startup is Gate’s token launch platform for new projects. At the time of writing, over 580 projects have been launched with over 9 million participants.

5. Gate.io Earn 

Users can earn interest on their crypto assets depending on their risk profile. Interest can be earned on flexible or fixed terms and in different lockup durations. 

Gate.io Earn Interest
Gate.io Earn Interest

6. Gate.io Liquidity Mining: 

Gate.io also offers liquidity mining where users can earn yield from trading fees. Take into account that there is impermantent loss risk when liquidity mining.

7. Gate.io Copy Trading

Gate offers the ability to copy the strategies of other successful traders. 

8. Gate.io NFT Marketplace

Gate.io has created their own NFT marketplace where users can quickly mint, store, buy and sell their NFTs. 


9. Gate.io Token

Gate Token (GT) is the native token of the Gate.io exchange and the Gatechain. The initial supply of GT was 1 billion tokens, but after burning 700 million, the current maximum supply is 300 million tokens.

Gate.io has initiated a similar buy-and-burn program to Binance where GT tokens are bought on the open market and burned (removed from circulation). Users who hold the GT token can use it to: 

  • Increase their VIP status
  • Receive lower trading fees
  • Use it as collateral 
  • Use it for gas on the Gatechain

Gate.io

products vs alternatives

Gate.io
Kucoin
OKX
Spot
Yes
Yes
Yes
Futures
Yes
Yes
Yes
Leverage
100X
100X
125X
Copy trade
Yes
Yes
Yes
Lend & Borrow
Yes
Yes
Yes
Staking
Yes
Yes
Yes
NFTs
Yes
Yes
Yes

Gate.io: Trading Fees

1. Spot Trading fees

Gate.io has a tier-based fee schedule that begins at 0.2% for Makers and Takers. You are considered a Taker when your order is executed immediately and a Maker when your order is not immediately matched.

Depending on your trading volume and the number of GT tokens that you hold, the trading fees can go down to 0.02%.

However, the vast majority of people won't reach these levels and will be paying the 0.2% maker and taker fee

Gate.io spot fees
Gate.io spot fees

If you buy $500 worth of ETH on Gate.io, the fee that you will be charged is $500 * (0.2/100) = $1.

2. Futures Trading Fees

The futures trading fees on Gate.io start at 0.015% for makers and 0.05% for takers. These fees can go down to 0.02% and 0.025% with billions in trading volumes.

Gate.io

fees vs alternatives

Gate.io
Kucoin
OKX
Spot fee (mkr)
0.20%
0.10%
0.08%
Spot fee (tkr)
0.20%
0.10%
0.10%
Futures (mkr)
0.015%
0.02%
0.02%
Futures (tkr)
0.05%
0.06%
0.05%

Gate.io: Deposit Methods

Gate.io is accepts both fiat and cryptocurrency deposits, which provides users with flexibility when it comes to funding their accounts.

1. Credit/Debit Card:

Buy crypto in one click with third-party platforms such as MoonPay, Coinify, Banxa, Advcash, Simplex, or Legend trading. This is an expensive option as many of these third-party platforms charge high fees ranging from $6-$25.

2. Bank Transfer:

Buy crypto with bank transfer by using third-party exchanges like Coinify, Banxa and Legend Trading. 

Gate.io Bank Deposit
Gate.io Bank Deposit

3. P2P-trading

Gate.io provide the option to also buy and sell BTC, ETH, USDT and Doge peer-to-peer with over 30 fiat currencies like USD, EUR, GBP, RUB, BRL, JPY, MYR.

Gate.io P2P transaction
Gate.io P2P transaction

How to withdraw from Gate.io?

Gate.io only offers withdrawals with cryptocurrencies. Below we have outlined the fees for a few popular cryptocurrencies. Withdrawal fees are based on the underlying transaction fees of the blockchain plus additional fees added by the exchange.

  • Bitcoin (BTC): 0.001 BTC
  • Ethereum (ETH): 0.0019 ETH
  • Solana (SOL): 0.003 SOL
  • Cosmos (ATOM): 0.07 ATOM
  • Polkadot (DOT): 0.16 DOT
  • USDT (ERC-20): 3 USDT

Gate.io: Apps & Wallet

Gate.io is available on both the App Store and Google Play store. Gate.io has over 1 million downloads on the Google Play store and a 3.9-star rating out of 35,000 reviews.

Gate.io Apps
Gate.io Apps

The apps enable users to buy and sell cryptocurrencies easily and include features such as spot trading, margin trading, futures & options, copy trading, and lending & staking. Gate.io also offers a desktop version for Windows and Mac.

Is Gate.io Safe?

In 2015, Gate.io was hacked for 7000 BTC but is today considered a very safe exchange with a 9/10 Coingecko Trustscore. Gate.io claims to be one of the most secure exchanges in the world with 10 security solutions in place. 

Gate.io Security Features
Gate.io Security Features

Gate.io ensures the security of user funds through hot and cold wallets that leverage MPC threshold signature, remote backups, bank custody, and offline options. 

Gate.io

security vs alternatives

Gate.io
Kucoin
OKX
Hacked
No
No
No
Proof of reserves
Yes
Yes
Yes
Licenses
-
-
VA in Dubai

Gate.io Volume & Liquidity

Gate.io has at the time of writing a 24-hour spot trading volume of over $925 million. This is the fourth-largest trading volume among centralized exchanges behind Binance, FTX, and Kucoin. Below we have outlined the 10 most liquid spot markets on Gate.io based on volume. 

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Everscale (EVER)
  4. JasmyCoin (JASMY)
  5. Terra (LUNC)
  6. Aptos (APT)
  7. Casper (CSPR)
  8. XRP (XRP)
  9. Filecoin (FIL)
  10. Ocean (Ocean)

Gate.io: Customer Service 

Gate.io offers customer support through email, phone, and a 24/7 live chat. Gate.io has a low Trustpilot rating of 1.8 based on 660 reviews. They are also available through different social media channels such as. 

Gate.io FAQ

  1. Is Gate.io available in the US?
  2. Does Gate.io require KYC?
  3. Is Gate.io Safe?
Gate.io

+1700 Cryptocurrencies

Spot, Perps, Margin, Options

+185 countries

100X Futures Leverage

Visit Gate.io
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.

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