Gate.io is a cryptocurrency exchange based in China. They have actually been around since 2013 but rebranded in 2017 in their current form. The exchange offers an excellent range when it comes to the number of currencies available and the currency pairs that you can choose to trade. This includes a wide and ever-expanding range of altcoins some of which may be difficult to find elsewhere.
Gate.io also boasts impressive trading volumes and seems to be one of the top exchange choices for traders from China and have risen in popularity in the United States and Europe.
Trust
Trust is a core issue for any trader using any exchange industry-wide. It is imperative that you feel and are provided with a safe, secure trading environment. This can be a little more complex in crypto trading with the lack of a strong regulatory environment like you would find with many forex brokers for example.
For that reason, a lot of trust is placed in the exchange’s past record and reputation among current users. Gate.io has been around since 2013 and deals with very large volumes rivaling top exchanges – points are initially in favor of Gate.io. They also appear to have a robust verification process in place that abides by all current KYC and AML procedures for crypto exchanges.
Investment Products
This is an area of frequent positive feedback for Gate.io. Focusing first on the number of currency pairs available you will find a total of more than 400 instruments to trade in. This includes a broad selection of coins, around 200 in total that can rival the choice you will find at any of the other top exchanges.
Alongside an extensive range of altcoins to be traded, you will also have access to margin trading services with leverage that can extend to as much as 10:1 and other investment products and plans like lending services and the ability to invest in IEOs through a dedicated startup platform.
Gate.io is often the first exchange to list new projects, ahead of other industry giants such as Binance, and this is what sets this platform apart.
Commissions & Fees
In terms of commissions and trading fees that Gate.io charges, these remain competitive and in line with most of the other major cryptocurrency exchanges in the industry.
When it comes to actually trading, the standard fee for both maker and taker in the transaction is 0.2%. This applies to both trading on margin and in the spot markets. It is a little higher than some of the other major names in the sector though there is the possibility to receive a discount if you trade in higher volumes. This tiered program allows for a discount starting at 5% if you have traded more than 3BTC and extending to a maximum reduction of 50% at higher levels. They also operate a point’s based system where you can earn points for trading which can then be redeemed against your trading fees.
There is also the option to have lower fees for holders of GT tokens. These fees can be as low as 0.055% for maker transactions, and 0.065% for taker transactions.
Trading Platform
The trading platform and trading view from Gate.io is something of a mixed bag. The platform itself is reasonably intuitive and performs all the major trading functions as you would expect without issue. The layout of the platform is also one that is familiar to most who have traded with any exchange before with charts in the middle, markets, and the order book on either side.
The platform does feel like there is too much going on though. You have many options including margin trading, trading volume, and many more features to contend with on the screen for a large number of markets. This can be daunting for new traders and seem overly complex. They also feature a limited degree of customizability to tailor your trading experience as a new or more advanced trader.
With these points in mind, the Gate.io trading platform is best suited to those with some prior trading knowledge and experience and is also a great option for new traders especially those that are looking for altcoins.
Customer Support
Support from Gate.io is primarily available in two forms. The first of these is to search through their extensive support center that features a depth of FAQ about many aspects of trading. Within this feature, you may find the answer to many of the most common issues faced.
If that is not helpful then you can engage with the Gate.io support team. This support system can be accessed through a ticketed system. This ensures a reasonably fast response time within business hours though many traders may feel they would like a more instant response particularly when many other major exchanges and brokers can provide live chat functions.
Conclusion
In all, while Gate.io is an experienced name in the industry and still commands a lot of respect and processes a very high volume of trades. It is true you can access a great range of altcoins and investment products on the exchange, and that they are delivered in a professional way and backed by solid support systems. Still, if they are to retain their current high position in the industry and they will need to add some extra customer support staff and the option for live chat.
