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Gate.io is a global cryptocurrency exchange and leverage trading platform for high-risk traders. It's no longer available in the United States. However, The business announced in 2022 its plans to reintroduce itself to United States-based investors with a new trading platform called Gate US. There's no official launch date at this time.
Business Insider's personal finance team compared Gate.io to the best cryptocurrency exchanges and found it lacked transparency and access for States-based investors.
Gate.io
Open account
On Gate.io's website
Insider’s Rating
2.95/5
Account Minimum
No minimum
Fees
Varies by tier level and discount
Pros
- More than 1700 coins
- NFT auction and creation platform that allows creators to mint NFTs without fees
- Margin accounts and futures available
- Crypto staking and lending options available
Cons
- Fee schedule can be complicated
- Hard-to-navigate platform
- Not available in the United States
- You'll pay more for transactions if you're not using the gatetoken (GT)
Product Details
- Promotion: Sign up and get a $100 voucher
Introduction to Gate.io
Gate.io is a global cryptocurrency and NFT exchange offering comprehensive trading and leveraging services s for active traders. It offers thousands of digital coins, tokens, and other investable securities. However, Gate.io is no longer available to investors based in the United States.
It employs blockchain solutions to keep its users' assets and transactions safe. These strategies include cross-cryptocurrency address technology, hot and cold wallet storage, multi-signature security protection technology, and real-time asset transfer technology.
Despite Gate.io's beginner-focused content and access to research and trading guides, the platform is difficult to navigate and may not be accessible to crypto newbies. Beginners might find reading the platform's trending charts and market updates difficult while sorting through the multiple landing pages, programs, and services.
In March 2022, the business launched the website for Gate US, which will offer many of the same trading features as its parent platform. There's no official launch date and little to no updates over the last couple of years. That said, Gate US still has an active homepage and X (formally Twitter) account.
Gate.io: Overall Rating
| Feature | Insider rating (out of 5) |
| Fees | 4.00 |
| Investment selection | 4.00 |
| Access | 1.00 |
| Ethics | 3.00 |
| Customer service | 2.00 |
| Security | 3.00 |
| Overall score | 2.95 |
How Gate.io Works
Here are some of Gate.io's most notable features and investment strategies:
Gate.io Individual Account
Gate.io lets you trade cryptocurrencies, futures, ETFs, and NFTs for other cryptocurrencies (e.g., exchanging bitcoin for dogecoin and vice versa). Its ETFs comprise mainstream cryptocurrencies like Bitcoin and Ethereum. The platform offers instant trading of multiple types of fiat money.
You can also use trading bots, which use a variety of quantitative strategies (auto and customized options), to mimic top Gate.io earners. With Gate.io, you can buy cryptocurrencies using a credit card or through your bank. You can also trade cryptocurrencies directly with crypto-to-crypto trading (aka spot trading).
The exchange's "push transactions" feature allows you to transfer a crypto asset to another account. The "flash swap" functionality lets you swap one currency with another within minutes. Futures trading, ETF trading, margin trading, and crypto lending.
Gate.io users can open a sub-account for more investment and asset management strategies in addition to their main investment account. Main accounts are now referred to as "master" accounts, and users can easily move assets between them.
Margin Trading
You can choose between two margin levels:
- Isolated margin: Users assign a margin to a certain position, and it only liquidates if the margin falls below the desired maintenance level.
- Cross margin: Users can assign the margin between two positions within the same cryptocurrency. The margin then takes funds from the account balance as needed to avoid liquidation.
Copy Trading
If you'd rather rely on the expertise of other experienced traders, Gate.io explains copy trading as a feature that allows you to mirror successful traders' strategies. You can easily view other users' performance to decide whether you'd like to copy their investment strategies, and Gate.io also offers daily copy-trading strategy recommendations.
Gate.io Magic Box NFT
You can create and purchase NFTs with Gate.io's Magic Box NFT platform. It allows for auctions and the trading of NFTs in many areas, including art, games, music, and more. Plus, creators can minimize gas fees by minting (the process of creating an NFT and adding it to the blockchain) for free.
Gate.io Fees
Gate.io's tiered fee structure determines discount rates on spot trading, futures trading, crypto lending, and interest rates. It's based on your 30-day trading volume, with lower rates on higher trading volumes. This is a standard structure followed by many crypto exchanges.
That said, Gate US may use a different structure or charge additional fees. At this time, Gate US has said little about what to expect from its United States-based exchange.
Pros and Cons Gate.io
| Pros | Cons |
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Gate.io Trustworthiness
Business Insider typically assesses trustworthiness in part by reviewing each investment platform's Better Business Bureau profile. BBB ratings range from A+ to F and reflect the bureau's opinion of how well a company interacts with its customers, but Gate.io doesn't have a BBB profile at this time.
In June 2023, Gate.io shut down alleged rumors of liquidity issues and a possible bankruptcy filing that sparked panic among Gate.io users. In a tweet, the business threatened legal action against the crypto investors that spread the rumors.
In recent years, crypto publications have widely reported that Gate.io was hacked in 2018, according to an alert from blockchain security tracker CertiKAlert. Crypto user ZachXBT, an account with over 600,000 followers,tweeted about the same hack. Gate.io has not responded to these allegations nor disclosed a hack to customers.
In October 2022, Gate.io's official Twitter account was hacked. Fake giveaways were tweeted out to users, asking for folks to connect their digital wallets to a suspicious link. The scam was caught early and shut down.
Gate.io vs. Other Cryptocurrency Exchanges
Gate.io vs. Coinbase
Gate.io and Coinbase both offer a vast collection of cryptocurrency products and NFTs.
Coinbase is one of the largest States-based crypto exchanges, offering hundreds of coins and tokens with a beginner-friendly interface, cold wallet storage, and an NFT marketplace. While novice crypto traders can use the platform, it's best for experienced investors interested in using Coinbase Advanced or signing up with Coinbase One.
Gate.io isn't currently available in the US. Plus, its inaccessible and convoluted platform makes it difficult to navigate and find up-to-date information. In general, Coinbase is the better overall exchange.
Coinbase review
Gate.io vs. Kraken
Like Gate.io, Kraken is a cryptocurrency exchange that offers a large selection of coins and tokens, account perks, and futures trading.
Kraken is a better choice for advanced users overall due to its Pro version, which offers margin trading, lower fees, and advanced charting tools. Kraken is also available in the United States, while Gate.io is not.
Kraken review
Gate.io FAQs
Is Gate.io a safe exchange?
Gate.io is a safe exchange. There have been no public lawsuits against the business, and no official hacks reported in the last few years. However, some users have reported possible account hacks and suspicious activity.
What are the fees on Gate.io?
Fees on Gate.io are based on users' 30-day trading volume. Like many crypto exchanges, the more you trade, the lower the fees. Some fees include spreads, transactions, and management fees.
Does Gate.io offer copy trading?
Gate.io offers copy trading and daily strategy recommendations for users to follow and easily mimic successful investing strategies from other users. Users can view their performance and apply their strategies to their own portfolios.
Why You Should Trust Us: How We Reviewed Gate.io
Gate.io cryptocurrency exchange was reviewed using Business Insider's rating methodology for investing platforms to examine investment options, ethics, fees, and overall customer experience when reviewing investing platforms. Platforms are given a rating from 0 to 5.
Cryptocurrency exchanges generally offer multiple assets, trading tools, and other educational resources. Some exchanges are better for more advanced or active investors, while others may be better for beginners and passive investors. Gate.io was evaluated with a focus on how it performs in each category.
Investing and Retirement Reporter
Tessa Campbell is an investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise:Tessa’s expertise includes:
- Credit cards
- Investing apps
- Retirement savings
- Cryptocurrency
- The stock market
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Education:Tessa graduated from Susquehanna University with a creative writing degree and a psychology minor.When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisem*nt, and it worked.
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