Is Gate.io reliable? What are the opinions about this cryptocurrency broker?
POINTS IN FAVOR
It has a large number of virtual currencies to operate.
You can trade on margin
Has a lot of volume in most cryptos traded
Gate.io is an American cryptocurrency broker based in the Cayman Islands that was launched in 2017. The language of the platform is in English and Chinese. Recently many advanced traders have started investing in this platform as many tokens go public here earlier than on other platforms such as Binance and large returns can be achieved by taking advantage of the fomo .
The main point in favor of Gate.io is its wide selection of trading pairs. You can find most of the new altcoins here. Gate.io also boasts an impressive trading volume. It is almost every day one of the top 20 brokers with the highest volume of operations. This trading volume being greater than 100 million dollars per day.
It is important to mention that the 10 virtual currency pairs traded on Gate.io in terms of trading volume generally have USDT (Tether) as part of the pair.
For all this, we have considered it important to analyze this broker in Insalud.com and show you all the opinions about Gate.io that exist on the internet, as well as our own opinion after trying this broker first-hand.
💡TO TAKE INTO ACCOUNT:
- Gate.io is one of the 10 brokers with the highest volume in the market.
- Many altcoins launch their trading on this website.
- The language of this platform is English, although it is also available in Chinese.
Who is Gate.io intended for?
This platform is designed for advanced users within the crypto field. It has a large number of new cryptocurrencies that are characterized by their enormous volatility, so it is recommended to have a great knowledge of these financial products before trading with them.
You should also know some English, since the platform and support is in this language and they will not assist you in Spanish. Finally, you must bear in mind that there are commissions for each purchase and sale, so more than for day trading, it is a platform designed for swing.
Large amount of cryptocurrencies available
1. Huge volatility for any trade
2. Possibility of operating on mobile and desktop
3. Commissions are a bit below average
1. Platform and support are only available in English
2. The account verification process is somewhat tedious
3. Unable to deposit fiat money
- Large number of cryptocurrencies available. It is possible to trade almost 1,000 currency pairs within this platform, one of the largest offers on the market. In addition, in many cases these cryptos are new and can only be traded here, so many traders are interested in this service to obtain returns before it goes public in the largest markets.
- Huge volatility for any trade. As we have already mentioned, the trading volume amounts to more than 100 million dollars per day.
- Possibility of operating on mobile and desktop. The mobile application has the same functionalities as the web, so you can easily operate wherever you are.
- The commissions are a bit below average. Gate.io’s commission for buying and selling virtual currencies is a kind of flat fee that is below the average of the main brokers.
- The platform and support are only available in English. It is also available in Chinese, but unfortunately our Spanish language is not yet available on this website and the support is also in English.
- The account verification process is somewhat tedious. As all brokers ask for your ID or passport, but in this broker they do not have automatic verification and it is necessary to send a photo with a piece of paper, your document and your username, as well as wait up to 24-48 hours until they finally verify your account. You cannot make a refund until your account is verified.
- Fiat money cannot be entered. To be able to operate you need to deposit money in virtual currency, so you will need to have a cryptocurrency previously and a wallet to be able to operate.
Gate.io trading fees
This broker does not charge different fees between buyers and sellers of cryptocurrencies. The fee model of this broker is a flat fee model. The fixed trading fee is set at 0.20%. This rate is slightly below the industry average. Arguably the industry average is around 0.25%.
There are different VIP programs depending on the amount traded. In the different programs there is a variation in the rate, but normally the majority of users will be VIP 0 with the aforementioned rates.
Gate.io Retirement Trucks
Many brokers have competitive trading fees, but then their withdrawal fees are very high. In the case of Gate.io it charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is around 40% lower than the industry average, as the industry average is arguably around 0.0008 BTC per BTC withdrawal. Consequently, the withdrawal fee charged by this exchange is quite competitive.
Unfortunately this broker does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you don’t have any coins but you want to start trading here, you will first have to buy cryptocurrencies from another broker such as Coinbase and then bring it here from your wallet.
Gate.io has one of the most important cryptocurrency offerings on the market. In addition to the most established pairs, it has altcoins that begin their trading in this broker, which is why it is consolidated as a great opportunity to achieve profitability in the launches before they “explode” in other more popular brokers.
In total, there are almost 1,000 currency pairs available and more than 300 altcoins available to operate with a high trading volume even in the lesser-known coins.
Using Gate.io is quite intuitive. It has the classic charts in the middle and the current prices and price changes on the left. The buy / sell boxes are also in the middle (below the diagram) and the order history on the right. We think this trading view makes sense and shows the most important information for most cryptocurrency traders:
Gate.io has also adapted its exchange interface to users who trade from mobile applications. Looking very similar, it can be operated with the same ease on both devices.
As we have already mentioned, this broker offers leveraged operations on its platform. This means that you can receive greater exposure to the increase or decrease in the price of a certain cryptocurrency, without having the necessary assets. It does this by “leveraging” your trade, with borrowed money to maximize profits (or losses if the move goes wrong).
Gate.io customer support
Gate.io customer service is in English. The three options offered by this broker to contact them are the following:
- Live chat. A somewhat complicated chat that starts with a bot, although you can finally talk to a customer service person.
- Submit a ticket. Like many brokers, you can submit a ticket if you need less urgent help.
- Security center . The most common cases can be consulted from the security center with detailed information on the most common operations.
Gate.io has a fairly brief training and is limited to a dictionary of terms about the crypto world. They know it as Cryptopedia and although it is very complete, it is quite scarce since when operating with this type of financial assets (especially when offering leverage to clients), more training should be included.
This broker allows you to have a two-factor authentication. You can also choose to receive SMS notifications about certain events such as withdrawals or investments. Biometric access can be activated in the app. In addition to the following characteristics that we can find on its website:
- SSL domain
- Offline Bitcoin wallet technology
This broker is a good alternative if you are an advanced user and you want to get profitability from coins that have not yet appeared in more well-known brokers such as Binance or Coinbase. However, it is a still new platform and at the security level it can improve so it would be good to diversify and take advantage of its low deposit commissions to not have everything in this broker.
Customer service is not the most optimal on the market either, so if you are a newcomer in the world of trading, look for other more friendly alternatives. Send your opinion about this company💸 insalud Average user score: 1 opinions Joel Garcia
I am quite happy with the use of this broker since thanks to it I made a lot of money. Coins are listed earlier than on Binance, so if you go fast you can buy them at Gate and then sell them when they come out on Binance, which tends to skyrocket. Of course, the verification process is very very slow.