Well, this is about the Gate.io exchange review. This exchange became one of the top ten of total transaction volume. Where daily transactions at the time of writing reached $ 3 billion more. It is at number 8 after Bybit exchange. With a score of 7.4.
The Gate.io site supports multi-languages, there are 15 languages including Chinese, Korean, Italian, English, Indonesian.
This exchange appears to be unregulated, but given its high score of 7.4, is Gate.io a legit exchange, this review may provide some useful information for users.
- 1 Gate.io Company overview
- 2 Founder team Gate.io
- 3 Gate.io product and feature
- 4 Cryptocurrency supported
- 5 Fee trading Gate.io
- 6 Platform
- 7 Can you use Gate.io without KYC?
- 8 Security
- 9 Gate.io which country?
- 10 Is Gate.io legit Reddit?
- 11 Gate.io exchange reviews pros and cons
- 12 Final thought
Gate.io Company overview
Originally Gate.io was an exchange that was founded in 2013 with the domain Bter.com. This exchange was hacked and the hackers managed to steal a total of 7000 BTC in 2015.
After this exchange was rebranded to Gate.io, the development of the exchange grew rapidly. The old domain was dropped and started to focus on crypto to crypto exchanges and Chinese Yuan OTC trading. Gate.io is an unregulated exchange, with transaction volumes in the billions of dollars.
Where is Gate.io headquarters?
We did not find any official information from the Gate.io website. However, we found Gate.io’s headquarters information by Craft.co that Gate.io’s headquarters are located on Cayman Island. This location is also widely used by brokers from the financial market because it may have loose regulations.
Although Gate.io was originally a China-based exchange, following the cryptocurrency ban in the country, Gate.io also adapted to the conditions and moved its headquarters to Virginia.
Furthermore, Craft.co pointed out that Gate.io’s offices are in two different locations, namely George Town (HQ) Cayman Islands Cardinal Ave and the Cayman Islands The Grand Pavilion Commercial Centre, 802 W Bay Rd.
Founder team Gate.io
The founder of Gate.io is Lin Han, which currently has a team of over 98 employees according to Craft.co.
Until this review was written, even Gate.io is still opening career paths in several positions that still require employees that match the company’s needs. You can find on the careers page, any positions available for vacancies.
Gate.io product and feature
Gate.io is one of the fastest-growing exchanges creating innovative products and services in the crypto market. The products are broadly divided into trading, finance, Copy trading, and the NFT marketplace.
Users can buy and sell cryptocurrencies on the spot market, margin trading, leveraged tokens, perpetual, and various other trading models including warrants, flash swaps, options, and CBBC.
Meanwhile, for finance products, it includes various products including crypto lending, periodic investment plans, including cloud mining.
On the Copy trade product which is a new service in the Gate.io environment, it allows users or investors to copy transactions made by other traders or use trading bots.
Another innovative product is NFT, users can collect NFT in the NFT Gate.io marketplace with various digital collections on display in the marketplace using USDT.
The total cryptocurrencies available on the Gate.io platform have listed more than 1400 crypto coins. That includes major cryptocurrencies like BTC, LTC, ETH, and many more, users can find the cryptocurrency they are looking for by using the search box on the Gate.io site.
Fee trading Gate.io
Like most exchanges, Gate.io also offers competitive fees for maker and taker fees of 0.2%. However, the fee structure if you use GT, which is a Gate.io native token, allows for a 0.15% taker fee and a 0.2% maker fee. And the fee for using Gate.io points for takers and makers is only 0.06%.
There is no fee for the deposit process, while for the withdrawal. A small fee is charged depending on the crypto asset being withdrawn.
For purchasing cryptocurrencies, Gate.io supports many payment tools for the convenience of their customers. It is possible to buy using a credit card, as well as a bank transfer. Peer-to-peer transfers allow traders to make crypto purchases using other crypto assets, such as Bitcoin and Ether.
The following is a list of payment instruments supported by Gate.io:
- Simplex supports Mastercard, Visa, ApplePay, and SEPA.
- Mercuryo supports Mastercard, Visa, Apple Pay, and Google pay.
- BANXA support Mastercard, Visa, Bank Transfer, SEPA, including Apple Pay, POLI, Bpay, PayId, Ideal, and Sofort.
- MoonPay, supports Visa, Mastercard, SEPA, Apple Pay, including Samsung Pay, Google Pay, FPS.
- Coinify, support Visa, Mastercard, SEPA transfer.
- Advcash, support Visa, Mastercard.
Gate.io supports the Tradingview platform which is a platform that is widely used by traders in stock, forex, crypto, and other financial markets.
With a full range of indicator tools available, the Gate.io platform provides a useful and easy user experience for beginners.
There are two standard and professional platform options, on the professional platform view, presenting a dark theme color, with global depth data.
Besides that, Gate.io also provides an Application platform for Android and Apple. You can download it by scanning the barcode listed on the Gate.io page.
Or you can download directly via a laptop for the apk file which can then be transferred to a smartphone to install. Requires further access permissions if installing via a third party.
Can you use Gate.io without KYC?
Gate.io advises customers to KYC verification, by submitting the required documents in the verification process. Even though Gate.io is an unregulated exchange, in making withdrawals they verify manually. It is to prevent suspicious transactions, so users must verify KYC.
It is possible to withdraw small amounts without having to verify KYC, but complying with these rules will increase the withdrawal limit.
The verification process takes between half an hour to 12 hours to get an answer from Gate.io. If verification is rejected, it may be because the image is less clear, and the user needs to resubmit a clearer image.
In terms of security, the Gate.io platform uses a solid layer of security, a Self-developed trading system. This system is audited by professional auditing companies.
For connection security, it uses an encrypted transport layer. Secure connection with HTTPS which is Transport Layer Security.
In addition, there is other equipment such as anti-DDOS attacks, and a firewall for the web.
Meanwhile, for account security protection, Gate.io offers codes with SMS, Google OTP, IP address monitoring, Gate UKey/Yubikey, as well as anti-phishing codes. Withdrawal whitelist, fund password different from the login password.
Can gate.io be hacked?
Although from a security perspective, Gate.io provides a layer of security that is generally good. It does not rule out the possibility that Gate.io can be hacked.
As is the case in the real world, where thieves will learn the weaknesses in a house that will be the target of theft. The online world will also apply like that. Various ways can be done by hackers to take over account access and commit crimes.
In a question on a Reddit forum, a user complained that he had lost access to his Gate.io account and couldn’t log in because his account had been hacked.
For users of the Gate.io platform or others, it is important to be vigilant such as phishing emails or websites. Make sure to access the account with a personal computer so that it is safer from theft of passwords.
Gate.io which country?
Gate.io is a global exchange with multi-language support. However, based on previous news, this exchange is not available for some territories including; Washington (U.S.), New York (U.S.), Try, Iran, North Korea, Sudan, Syria, Pakistan, Venezuela, and Crimea.
But currently referring to the news posted on the official Gate.io blog, stating that users from the US, Canada, Japan have received support from Gate.io. However, not all of Gate.io’s services are fully available. It only provides limited service.
Some of the service products available for these countries are lending, margin trading, perpetual contract trading, and the trade of some coins.
Is Gate.io legit Reddit?
On Reddit forums, you can find user experiences shared within the community. In a post in late 2021 that has passed he shared the story, that he transferred his account via BEP-20, but it had been two days since the funds had arrived in his Gate.io account.
He who is known to use the nickname Rockett also complaint about the minimum withdrawal increase to a minimum of $550. However, another user, stated that everything was normal, that condition did not happen to him. Only he reminds that deposits and withdrawals must be with the right network.
Other members think that Gate.io is not a scam but sometimes experiences network problems. Where certain coins require more confirmation.
Gate.io review Trustpilot
Trustpilot is a popular site where many users of a product share their experiences. The Gate.io Trustpilot review received 650 reviews, with a score of 2.4, which is a low enough score to conclude that Trustpilot’s review, Gate.io is not a good trade-off.
Details of the reviews are Excellence 28%, Great 4%, Average 3%, Poor 4%, and Bad 61%. Some of the issues complained of include poor customer support response and problematic withdrawals.
Gate.io exchange reviews pros and cons
Even though Gate.io is unregulated, the development team is quite transparent. But still, there are pros and cons to this exchange.
- Listing the many cryptocurrencies available. More than 1400 crypto coins are available on the Gate.io platform.
- Offering a variety of products and features for customers, there are spot markets, margin trading, NFT markets, Lending, Mining, and so on.
- Low trading fees in the range of 0.2% for both takers and makers.
- The trading platform is also available for Android smartphones and Apple phones.
- Ranked in the top ten exchanges in Coinmarketcap’s largest transaction volume with a rating score of 7.4.
- The security layer enhanced by Gate.io protects against threats.
- Unregulated company.
- Had experienced a hack, where the exchange lost 7000 BTC in the past.
- Lots of negative reviews from Trustpilot users and the Reddit community.
- A platform that for some beginners is quite inconvenient and less user-friendly.
Looking at Gate.io in terms of volume order on Coinmarketcap, Gate.io is a leading exchange in the top ten exchanges. It scores well with a score of 7.4. But taking a closer look at user reviews, Gate.io scores poorly on Trustpilot. This of course compares best with scores on Coinmarketcap.
Whether it’s a scam or legit, according to user experience, Gate.io is not a scam, but the risk of placing large funds in exchange is high. Plus, the exchange is unregulated, meaning it is not legally licensed from the jurisdiction in which it is located.
Note: this article is informational only and does not constitute investment advice. Forex and crypto CFDs are risky. Each investor is responsible for their investment.
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