• Gate.io Review
  • Gate.io overview – What is Gate.io?
  • Gate.io Alternatives (comparison table)
  • Gate.io pros and Cons
  • Gate.io Fees
  • Cryptocurrencies on Gate.io
  • Is Gate.io Trustworthy and Regulated?
  • Conclusion

Gate.io may be one of the hottest crypto exchanges in today’s time. Gate.io exchange is a platform that promises to give users access to some of the most popular cryptocurrencies and tokens along with their ability to buy and sell them at will. But the question on everyone’s mind is: Is Gate.io a trustworthy exchange?

Let’s find out together, in this critical article we have created just for you!

Gate.io overview

Gate.io is a Bitcoin exchange platform that supports BTC, LTC, Ethereum, and more than 1400 other cryptocurrencies in the open market. That’s a whole load of options to choose from!

With Gate.io’s fast-rising popularity, it has been operating in almost all the countries in the world but has recently been banned in China, the U.S., and Canada. In contrast, countries like the U.K. France, Germany, and Netherlands only support spot trading features on the exchange which is an absolute bummer.

 But as far as we are concerned, Gate.io can be used with VPNs so if you really wish to pursue using this platform and it’s geographically restricted in your area, try it out!

Gate.io alternatives

Even though we can say that Gate.io is one of the oldest cryptocurrency exchanges in the block, we can never ignore its strong competitors.

Let’s compare them below:

Coinbase

When comparing Gate.io to top crypto exchanges like Coinbase or Binance, we would see that Gate.io would be on the struggling end due to some limitations and feature differences.

Coinbase offers a simple, user-friendly, platform that prioritizes security and offers the most trustworthy cryptocurrencies to lessen instances of rug pull, while Gate.io having the advantage of having a lot of cryptocurrencies available, is still prone to scams, honeypots, or rug pulls due to less filtering of coins.

Kraken

Kraken vs Gate.io is a more controversial comparison, since the features and security are almost on-par with each other, making it a hot debate on which cryptocurrency exchange is better used by customers.

The edge Kraken has over Gate.io is its trading volume, Kraken has 30% more trading volume and liquidity than Gate.io which leads to a better spread and better prices during transactions. Gate.io has more trading pairs than Kraken so Gate.io will have more options for trading to choose from, which is less hassle in picking out your options.

Binance

Now if you compare Gate.io to Binance, we can say that Gate.io is a bit far in overall ratings compared to Binance since Binance has been the best cryptocurrency exchange to date due to its simplicity, user-friendly approach while also providing the best features (such as P2P and 500+ filtered cryptocurrencies) and security (2FA, and KYC) as a leading cryptocurrency exchange. 

Gate.io may not have as much security and features but Gate.io has the edge over Binance in terms of transaction fees and cryptocurrency variety!

Read our full Binance Review 2023.

Gate.io Pros and Cons

From the looks of it, Gate.io is far from perfect but far from a complete disaster too. It’s not as bad as you think if we take into account its pros and cons, we can learn a lot more. So let’s have a look:

Pros

  • The platform is open to most countries in the world.
  • Offers more than 1400 cryptocurrencies, talk about variety!
  • Decentralized, you get to trade without giving out personal details
  • Robust mobile application. Multiple features, including spot trading and margin trading with 10x leverage.
  • 24/7 customer support.
  • Fairly good security features as an exchange.

Cons

  • Unregulated. Gate.io can shut down at any time without prior notice so take caution!
  • Not beginner-friendly. Seems like a hassle if you’re starting out, right?
  • Hack history. Gate.io had some security issues in 2019, watch out!
  • No services are available to residents of the U.S. and Canada, talk about an absolute bummer.

Fees & Commissions

Gate.io employs a maker-taker fee model for spot trading fees, meaning that the amount charged to users depends on whether their order decreases or increases liquidity in the exchange. However, it is not possible to determine ahead of time if your order will be classified as a maker or taker.

As we have observed, Gate.io has some of the best trading fees up-to-date, starting at around 0.2% per trade. It’s pretty amazing considering that more cryptocurrency exchanges lean towards 0.5% or more trading fees per trade.

 Trade on the Gate.io futures trading platform for unbeatable prices – Maker Orders are free at 0%, and Taker Orders start from an astonishingly low rate of just 0.04%. Additionally, a tiered VIP structure rewards customers who trade frequently using the platform, with reduced fees as trades accumulate over time!

Cryptocurrencies on Gate.io

Gate.io is the ideal platform to enter new crypto markets! They are industry leaders in listing Altcoins and Memecoins like Saitama Inu or Safemoon, with over 1400 different digital assets available for trading. Plus, Gate.io moves swiftly — you can always rely on them to list the hottest coins first, faster than any other exchange to date. 

Below are some of the best cryptocurrencies that Gate.io currently offers:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • Dogecoin (DOGE)
  • Binance Coin (BNB)
  • Polkadot (DOT)
  • Cardano (ADA)
  • Litecoin (LTC)
  • XRP (XRP)

Is Gate.io Trustworthy and Regulated

Gate.io operates without a license and is not regulated by any financial authority in the United States or abroad, so that would be a negative downside of the platform. On the other hand, Gate.io was established in 2013, meaning that it has been around for 8 years now, and at this point, we can say that they have proven to be reliable, but questionable in terms of trustworthiness.

Another good thing about Gate.io is its security despite the exchange being unregulated. In fact, the Cryptocurrency Exchange Ratings has awarded it one of its highest marks for cybersecurity protection among crypto exchanges. With such precautions in place, you can rest assured knowing that your profits will be secure.

Conclusion

Gate.io is a great option for those looking to trade cryptocurrencies in an unregulated exchange. Its fees are quite competitive and its customer service is top-notch. The platform’s security protocols are robust and its selection of digital assets is incredibly vast, with over 1400 coins available. 

Despite the lack of regulation, Gate.io is reliable and trustworthy, having been around since 2013 despite hack issues surfacing around the exchange. All in all, if you’re looking for an affordable way to trade cryptocurrencies with a wide variety of options, then Gate.io might be one of your main options to choose from.

What you need to know about Gate.io (FAQs)

Is Gate.io a good investment?

Gate.io has earned CER’s prestigious recognition as one of the world’s most secure and trusted cryptocurrency exchanges, which is why users can trust that their accounts remain safe on the platform.

Is Gate.io better than Binance?

It really depends on what you’re looking for. Gate.io offers an extensive list of digital assets with some of the lowest fees in the industry, while Binance offers advanced trading features and a wide variety of products.

Overall, Binance rests on the “filtered” and “regulated” side of the crypto space while Gate.io is more on the “exploration” side.

Is Gate.io Trustworthy?

Yes, Gate.io is trustworthy due to its long tenure in the crypto space and its tight security protocols. Although the platform is not regulated by any financial authority, it has proven itself reliable with over 8 years of service.

Can U.S. citizens use Gate.io?

As far as we are concerned, Gate.io is not available in some U.S. areas like Washington, New York, and others, however, Gate.io can still be accessed by using VPN so if you are willing to take on that small inconvenience, then yes! Gate.io can be fully accessible to U.S. Citizens!

Is Gate.io better than Kucoin?

If you are an expert trader with a penchant for spot or derivatives trading and would like to take advantage of comprehensive charting and trading tools, then KuCoin and Gate.io could both work for you.

Derivatives traders looking for access to futures and options trading, as well as automated Copy Trading features and bots should seriously consider using Gate.io. With an abundance of coin options available on both the spot and derivatives platforms, it’s no wonder why it has become a go-to platform for many users. 

On the other hand, KuCoin is equally impressive when it comes to trading altcoins with better liquidity than its competitor along with a user-friendly mobile experience. Additionally, those seeking passive income opportunities might be drawn to KuCoin due to its greater variety of interest-earning products compared to Gate.io.