Gate.io Referral Code
Every day cryptocurrency investments are becoming more common in different parts of the world, so finding a trustworthy Exchange close to each of its clients’ needs is a difficult task. This time we will talk about Gate.io, an Exchange-based in Virginia, United States. Here we will give you a complete review and different essential points to consider about this Exchange.
What is Gate.io Exchange?
Gate Technology Inc operates Gate.io. It is a company dedicated to security and its expertise, offering you not only a safe, simple and fair Bitcoin exchange but also the promise to safeguard your asset and trading information.
Gate.io is a recently launched exchange that offers trading in more than 140 digital currencies. The website is available in English and Chinese, so we assume that it is also aimed at Chinese cryptocurrency investors. It is not surprising since most of the major exchanges have been delisted in cryptocurrencies at the end of September 2017, after the government banned Bitcoin and other digital currencies.
The company that operates the Gate.io brand and website is based in Virginia, USA, but is not overseen by local financial supervisors or has a NY Bitlicense license (which is quite controversial). Although this is not unusual for cryptocurrency exchanges, you should be aware that you are exposed to a risk of loss of information and your currencies when it comes to unregulated companies.
Gate.io Exchange account registration and verification
The way to register is by entering the website and selecting the “Sign Up” option found in the upper right part of the home page.
The registration option is available in the top menu and in the website entry form. Once clicked, it will take us to the registration form.
This form is something different from other Exchanges. It asks for your username, password, email, funds password (This password is different from the first since it will ask you every time you make withdrawals or any trading operation), the captcha. Once you have all that entered, you must click on “Create Account” so that you can register in this Exchange. Ready! You have created your account at Gate.io.
Gate.io Exchange account verification
Once registered, you will see a message that your account has been created and an email for you to confirm your account with this Exchange.
Once the information is validated, you can enter your account and enter your settings and place good security levels in the lower left part of your account screen:
As you can see in the previous image, we have framed the security options available in this Exchange, among which we highlight the security of 2 Factors, the KYC, the confirmation SMS, and the email. These are all measures for you to have a very secure account.
This Exchange puts you in different types of security levels and user types. In our example, we are new users, and we are VIP – 0 users. Gate.io has applied the new level system. Each level has a BTC volume requirement.
This is very new since with this way of operating. You can get more discounts the more operations you carry out on this platform. It is a way in which this Exchange aims to gain more clients and mainly those with the highest investment volume.
Depositing funds at Gate.io
This Exchange only accepts digital currencies, which it has available on its platform. So if you are a beginner, you will have to first transfer your Fiat money (Euro, dollar, or other) to another exchange such as LocalBitcoins, Coinbase, or another exchange, and then transfer it to this Exchange.
To make deposits, you only need to go to your account and select the cryptocurrency in which you want to deposit and click on “Deposit,” which will show you a wallet address, where you will have to send your coins.
The minimum deposit at Gate.io
While deposits at Gate.io are free, withdrawals are charged with fees, which vary depending on the digital currency type. For example, Bitcoin withdrawals incur a fee of 0.0005, while withdrawals in USDT have a fee of 5 USDT.
Withdrawals have daily limits.
Payment methods accepted on Gate.io Exchange
Gate.io accepts only cryptocurrency transfers. The Fiat money deposit option is not available. You cannot use your credit card, which makes this Exchange not so beginner-friendly.
Leverage and volume purchases
Unfortunately, Gate.io does not support leveraged trading. If you’re sure, you understand the risks involved in margin trading and really want to use some form of leverage.
Advantages and disadvantages
- Competitive rates.
- More than 20 digital currencies are offered.
- Relatively lovely trading platform.
- Mobile application is available.
- Does not accept Fiat money transfers
- It is not regulated
- Relatively new company
- No leveraged trading
Conclusion on Gate.io Exchange
Gate.io is a young exchange that seems to be without significant regulation from the United States. The platform offers operations in more than 20 digital currencies with exceptionally competitive rates and a mobile application available. However, it may not be suitable for all investors, as it only supports transfers through cryptocurrencies that are traded on its trading platform.
Only time will tell if this Exchange will be successful in this highly competitive market, such as cryptocurrencies.