Gate.io is one of the largest and most well-established cryptocurrency exchanges in the world. Founded in 2013, it offers spot trading for over 1,300 cryptocurrencies as well as advanced trading features like margin trading and futures. Gate.io serves users globally, with the exception of those in the United States. Our gate.io review will examine the platform’s pros, cons, fees, and more.
Gate.io Offers Free NFT Minting
Gate.io has emerged as one of the top platforms for NFT trading and creation. The exchange provides a feature called “Magic Box” that allows users to mint NFTs for free, only paying gas fees when the NFT is sold. This makes Gate.io stand out from competitors that charge upfront minting fees. The platform supports NFT auctions, fixed-price sales, and peer-to-peer trading across art, music, domains, in-game assets, and more.
Gate.io Launches Crypto Gift Cards
In 2022, Gate.io introduced the ability to purchase crypto gift cards with over 50 fiat currencies. Users can buy gift cards for major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The gift cards make it easy to gift crypto to friends and family for birthdays, holidays, and other occasions. Crypto gift cards provide a seamless way for beginners to enter the crypto space.
Gate.io Review: Pros and Cons
| Pros | Cons |
| Wide selection of over 1,300 cryptocurrencies | Not available to US users |
| Spot, margin, futures, and NFT trading | Confusing interface for beginners |
| Allows free NFT minting | History of hacks and alleged theft |
| Advanced trading features like bots | Poor English translations |
| Offers crypto gift cards | Steep fees for fiat deposits |
| Reasonable trading fees |
Overall, Gate.io stands out for its extensive selection of cryptocurrencies and NFT capabilities. However, the platform’s confusing interface, regulatory uncertainty, and history of security issues may make some users uncomfortable. Gate.io is likely best suited for advanced crypto traders outside of the United States.
Key Metrics
- Global rank decreased from #5,321 to #5,260 over the past 3 months
- Receives around 11.5 million visits per month, down 1.11% from the previous month
- Bounce rate is 44.06%
- Pages per visit is 3.94
- Average visit duration is 4 minutes 4 seconds
- 69.91% of visitors are male, 30.09% female
- 25-34 year olds make up the largest age group at 33.25% of visitors
- Top country by traffic is Morocco with 9.61% of desktop visitors
- Direct traffic accounts for 87.61% of visits, organic search accounts for 4.88%
- 115 total outgoing links to other websites, mostly search engines (34.84%) and investing sites (26.64%)
Gate.io Fees
Gate.io’s trading fees range from 0.2% for basic users down to 0.055% for high-volume traders. The maximum 0.2% maker/taker fee is higher than some competitors like Binance and FTX but reasonable for advanced trading platforms. Users can significantly reduce fees by paying with Gate’s utility token GT, buying discounted fee packages, or reaching high VIP status tiers.
The biggest drawback with Gate.io’s fees is that fiat deposits can be expensive due to reliance on third-party payment processors that charge high fees. Withdrawal fees are in line with industry standards.
Gate.io Security
Gate.io implements several security features including:
- Cold storage of most crypto assets
- External security audits
- 2-factor authentication
- Anti-phishing measures
- Third-party malware protection.
However, Gate.io has had some concerning security issues in the past. In 2015, the platform suffered a major hack, leading to the theft of around $2 million worth of Bitcoin. There are also allegations that Gate.io failed to disclose an additional hack in 2018 involving over $200 million in stolen funds.
While Gate.io seems to have improved its security systems since early hacks, users may still be apprehensive given the checkered history. The regulatory uncertainty surrounding the platform also raises questions for those putting significant funds into Gate.io.
Gate.io Verification Process
Gate.io has a multi-step verification process that is required for most users before withdrawing any substantial funds. The steps include:
- Email verification
- Phone verification
- Facial recognition check
- ID document check
- Proof of address
The process can be tedious, and the facial recognition check and ID verification may take several hours in some cases. While thorough verification improves security, it may be frustrating for users looking to access funds quickly.
Gate.io Customer Service
Gate.io offers customer support through email, in-platform messages, and online articles. There are some complaints about slow response times over email, often taking 24 hours or more for a reply. Many users report better experiences using the live in-platform chat feature to get quick answers to questions.
Overall, Gate.io provides decent customer service but could improve its email response time. The platform lacks phone or social media support channels which some traders may desire for urgent issues.
Gate.io User Experience
The Gate.io platform has a steep learning curve and chaotic interface that is not ideal for crypto beginners. New users are greeted with a cluttered dashboard showing hundreds of trading pairs with little guidance. The jumbled charts, blinking notices, and confusing menus may overwhelm those new to crypto trading.
While Gate.io provides educational resources, the poor English translations make some articles hard to understand. The platform is certainly designed with advanced power users in mind. Casual traders and investors may prefer more intuitive interfaces offered by competitors.
Available Tokens on Gate.io
Gate.io provides trading for over 1,700 different cryptocurrencies. This includes major coins like Bitcoin, Ethereum, Dogecoin, Solana, Cardano, and Tether. It also offers many smaller cap altcoins not available on competing platforms.
Users can trade crypto-to-crypto pairs and purchase assets using credit cards, debit cards, wire transfers, and other methods. Fiat payments are processed through third parties.
The platform also has its own utility token called GateToken (GT), which provides discounts on trading fees when held.
Regulatory Compliance and Legal Status
Gate.io appears to take a calculated approach to regulation, restricting access in jurisdictions where required by law but otherwise remaining opaque. The exchange claims to serve most countries outside the US, but takes steps to block US visitors.
Gate.io is not registered as a regulated exchange in the US or EU. The platform is based in the Seychelles, a jurisdiction popular among crypto companies due to lax regulation. Gate.io seems to exploit the “regulatory arbitrage” available in the Seychelles.
The legal uncertainty and past security issues may make Gate.io unappealing for cautious investors, and traders focused on compliance.
Liquidity and Volume
As one of the largest crypto exchanges worldwide, Gate.io provides excellent liquidity and trading volume for major cryptocurrencies like Bitcoin and Ethereum. Spreads are tight, and large trades can be executed swiftly.
However, some lower-cap altcoins have lower trading activity and wider spreads. Users looking to buy exotic assets may encounter slippage.
Overall, Gate.io’s liquidity is on par with leading platforms like OKEx and Huobi, measured by 30-day trading volume.
Staking and Lending Options
Gate.io allows users to earn yield on crypto assets through:
- Lending – Lend out assets to earn interest from borrowers
- Staking – Earn rewards for holding certain crypto assets
- Liquidity pools – Earn fees by providing liquidity to pools
Reported annual percentage yields range from 1.5% to as high as 30% depending on the product. However, staking and lending returns should be balanced with the risks of relinquishing control of your crypto assets when seeking yield.
App and Web Experience
Gate.io Web Experience
Gate.io’s web interface is cluttered and unintuitive for many new users. The busy dashboards and small fonts make it difficult to track positions and find desired functions. Frequent pop-ups are distracting. Traders will need to spend time learning to navigate the platform.
Gate.io App Experience
Gate.io’s mobile app provides similar functionality as the web platform. The app makes it easy for traders to monitor positions and execute trades on the go. However, small glitches have been reported, and the mobile interface suffers from some of the same complexity as the desktop site. Reviews of the app are mixed.
Final Recommendation
Gate.io stands out for its extensive selection of currencies and its NFT creation capabilities. The range of assets is vastly greater than most competitors. This makes Gate.io a potential fit for investors focused on diversification or buying obscure altcoins.
However, the platform’s regulatory uncertainty, scattered interface, and past security issues are red flags for novice and risk-averse traders. Those new to crypto or cautious with compliance may prefer an exchange like Coinbase or Gemini.
Gate.io is best suited for advanced crypto traders located outside the United States prioritizing asset selection over ease of use. Casual or beginner investors should consider more user-friendly alternatives.
Gate.io Alternatives
| Exchange | Pros | Cons |
| Coinbase | Easy to use, fully regulated in US, insured custody | Limited assets, high fees |
| Gemini | Compliant with regulators, free withdrawals | Interface is not as robust for active traders |
| Kraken | Great security, low fees with high volumes | Light selection of altcoins |
FAQs
Is Gate.io good for trading?
Yes, Gate.io is good for active traders focused on diversification and altcoin speculation due to its enormous selection of over 1,300 cryptocurrencies. However, the complex interface caters more to advanced traders.
How much does Gate.io charge for withdrawal?
Gate.io withdrawal fees vary by cryptocurrency. For example, withdrawing Ethereum costs around 0.01 ETH ($10) and withdrawing Bitcoin costs around 0.001 BTC ($20). Withdrawal fees are comparable to other top crypto exchanges.
Is Gate.io free to use?
No, Gate.io charges trading fees ranging from 0.2% to 0.055% for high-volume traders. Fiat deposits also incur additional fees through third-party processors. However, users can lower fees substantially by holding the platform’s GateToken.
