Gate.io Cryptocurrency Platform, its Advantages and Disadvantages
Gate.io platform for digital currencies, its advantages and disadvantages … This platform is one of the reliable platforms spread around the world that specializes in exchanging digital currencies, including encrypted ones. As this platform has been active since 2013, it is one of the best platforms out there.
The question here is, is it as good as it is said or not? By evaluating its most important advantages and disadvantages, we will help you know whether cryptocurrency exchange is what you are looking for or not.
Now, in our article on Masary, we will highlight the most important things for you to learn about the gate.io platform for digital currencies, and its advantages and disadvantages.
1 Explanation of the Gate.io platform for digital currencies
2 Gate.io platform features
3 Features of the Gate.io cryptocurrency platform
4 Disadvantages of the Gate.io cryptocurrency platform
5 How to create an account on Gate.io
6 deposit box
7 How do I start trading on the Gate cryptocurrency platform?
8 Gate.io platform fees
9 Margin and immediate exchange fees
10 deposit fee on Gate.io
11 Gate.io withdrawal fees
12 trading fees
13 Gate.io Bonuses
14 Gate.io app
15 countries supported by Gate.io
16 Gate.io platform coins
Explanation of the Gate.io platform for digital currencies
Gate.io is a platform to exchange Bitcoins, which supports BTC, LTC and many other blockchain assets. The gate.io platform ranks fourth in terms of the largest currency exchange platform, followed by major platforms such as Binance, Coinbase, and others.
Over the years, the digital stock exchange has gained wide popularity around the world, however, this platform is currently inactive in China.
It had to move its current headquarters to Virginia, USA. In addition to trading in digital currencies, the platform supports spot trading and margin trading.
It has also expanded its services to include many other markets such as ETF, futures, and others. Generally, this platform is intended for professional investors, however small investors with limited experience will also find this platform useful.
Gate.io platform features
This Gate.io platform is unique with a set of characteristics that made it one of the well-known names in its field, and these characteristics are as follows:
*. The platform has a simple interface that is easy to use.
*. The platform allows the exchange of financial margins, futures,
and derivatives (direct trade or stock exchange) with leverage up to 100x, regardless of the trade in cryptocurrencies.
*. The platform offers real-time market information and mapping tools for traders to effectively trade altcoins, stablecoins, and altcoins.
*. A trial version is available via the Gate.io testnet.
*. HDOL offers earnings by investments in cryptocurrencies.
*. It allows to pledge one crypto asset, in order to borrow another crypto asset.
*. Low exchange fee system with no deposit fee, in addition to a small withdrawal fee.
*. It provides customer support services around the clock, seven days a week, in addition to a comprehensive section specialized in frequently asked questions and other instructions.
Features of the Gate.io platform for digital currencies
We will tell you about the advantages of the Gate.io platform for digital currencies, which made the name of the platform one of the names known worldwide for the exchange of digital currencies. These features vary between several things, as follows:
*. The platform has an enhanced security system that protects the user’s personal data from all threats and maintains its privacy.
*. The minimum balance required for any transaction is $1, unlike some platforms that ask for much more.
*. You can work on the platform from a computer and a mobile phone, as the platform provides a mobile application that facilitates this.
*. The multiplicity of functions and tools through which you can work, such as margin trading, which has an interest of about 10 times.
*. Fees on commercial transactions are only 0.2% which is very low, in addition to there are no fees for payment and withdrawal either.
*. The platform operates worldwide with over 400 markets and supports over 800 cryptocurrencies.
*. The IEO platform is one of the best sites you can get.
Disadvantages of the Gate.io cryptocurrency platform
The disadvantages of the Gate.io cryptocurrency platform are inevitable based on the principle that everything that has positives also has negatives. These defects are as follows:
*. The platform delayed sending the activation code to users previously, but now it has been resolved by the platform team.
*. Due to the crowded interface of the platform, it may be difficult for emerging investors to understand it at first, but despite this, it is not difficult for them.
*. Mistrust of the platform by some people, as some may consider it a fraudulent platform.
*. Attention should be paid to adding options for exchange through market options, because users will face difficulty in rapid exchange when currency rates change and at the desired price.
*. The platform delays sending the code when wanting to withdraw funds.
*. The lack of deposit fees causes the withdrawal rate to be lower as well, and thus the turnover decreases as well.
How to create an account on Gate.io
According to users’ reviews of Gate.io platform, they consider logging in as an easy procedure that can be completed in minutes. Below we will mention the login steps for you to be able to start using the platform. These steps are as follows:
*. Open Chrome browser on the official website of the platform by clicking on the link from here.
*. Click the login button at the top right of the page or directly in front of you in the middle of the page.
*. The site will open a registration form for you with some personal information that you have to fill out.
*. After filling in all the fields with the appropriate information, click on the button to agree to the terms and conditions of the site to be able to create the account.
*. After writing the email and password, later you will need to type another completely different password for it.
*. Then a confirmation email will be sent, open the mail and click on the confirmation link to complete the registration process.
In the event that you want to activate the KYC feature, you need to confirm it with one of the following things (personal ID, passport, driver’s license). This procedure is also useful in increasing the security of the account and raising the withdrawal rate than usual.
Note: The account verification process may take a little longer, up to 12 hours.
Now that you have completed the account verification process you can go to the drop box.
You can also directly deposit money into your account using any type of cryptocurrency, stablecoin, etc. and start the exchange process directly.
How do I start trading on the Gate cryptocurrency platform?
You may often ask yourself how do I start trading on the Gate cryptocurrency platform.
You can start trading immediately after you have completed the account verification procedures and deposited the required funds.
You can also choose the interface you want between a simple standard interface or a professional one.
The standard interface makes the platform easy to use for new traders, as it has multiple trading charts and numerous utilities.
The professional interface from its name shows that it is intended for people with expertise, as they have the possibility of technical analysis of the markets using the various tools on the platform.
Gate.io platform fees
Gate.io fees for new users vary depending on the type of trading you take.
Therefore, we will mention to you all the information about the fees incurred by users according to the type of transaction.
Margin and immediate exchange fees
The trading structure on the platform contains different margin and spot trading fees as follows:
In addition to the above, we note that the immediate exchange fee is about 0.2%, and this percentage is inversely proportional to the increase in the volume of exchange on the platform.
In addition, the platform provides a discount of 25% if users pay the fees through the platform token (GT).
Gate.io deposit fees
There are no deposit fees on the Gate.io platform, so the platform does not charge any fees to its users in the event of a deposit.
Gate.io withdrawal fees
In short, withdrawal fees are charged to users who wish to withdraw funds earned from cryptocurrency trading.
Thus upon withdrawal, the standard Blockchain network fee imposed by the prevailing market conditions at the time of withdrawal will be charged.
It also charges different fees depending on the type of asset withdrawn. A fee of up to 0.0005 BTC is charged for example if the user withdraws Bitcoin from the exchange.
As a result, we conclude that Gate.io’s trading fee structure is about 40% lower than the global average.
However, it is also different from the spot markets and margin trading.
As a result, the exchange fee that Gate.io charges per transaction is around 0.2% (fixed).
Thus, it decreases with increasing trading volume. However, the fees of some other exchanges are lower, such as Binance and Kucoin, which are 0.1%.
Gate.io platform rewards
As for the Gate.io platform rewards, the platform does not provide rewards directly to its users.
On the other hand, it requires users to perform certain tasks in exchange for a number of points determined by the platform depending on the difficulty of the task.
Accordingly, the types of tasks are divided into four categories, according to experience, turnover volume, etc., where specific tasks are assigned to each level.
In other words, these points are not subject to withdrawal, trading, exchange or exchange except on the platform itself to waive certain fees.
Thus covering the fees for contract trading, spot exchange or participation in USDT activities.
The platform introduces the Gate.io application to generations who prefer to trade in cryptocurrencies using smartphones.
As a result, the application is compatible with IOS and Android systems, and this application can be downloaded easily through any online store.
According to user reviews, the app has been downloaded by more than 50,000 users.
The mobile app also offers similar features to the desktop versions.
In addition, there are no restrictions for traders to enter trading positions and monitor trades on the go.
Countries supported by Gate.io
As mentioned earlier, the countries supported by Gate.io include almost all but a few countries.
Therefore, the countries that are not included are as follows:
- New York.
- north korea.
- Pakistan and Crimea.
Gate.io platform coins
Gate.io currencies vary between more than 180 types of cryptocurrencies, including bitcoin, Litecoin, Tether, Ethereum, and others, just to name a few.
In the end, and from what was previously mentioned in our article about everything related to the Gate.io platform, its advantages and disadvantages.
We also talked about the platform itself and how to register and profit from it.
In addition to the above, we have mentioned everything related to the fees incurred in commercial operations as well, such as deposit and withdrawal fees, and others.
We also showed you the interface of the platform and the application that it provides to users, in addition to mentioning how to use them.