Gate.io is a cryptocurrency exchange that witnessed its foundation towards the end of 2017. The platform operates without an official license but does require identity verification for transactions that exceed the sum of a thousand dollars.
Gate.io located in Virginia(United States of America)
Gate.io is a cryptocurrency exchange that has its headquarters situated in Virginia, USA. The main centre of operations for the company has been in Virginia ever since its first days. No changes have been made in the location of Gate.io’s headquarters until now. Users have the option to view the website in three languages i.e. English, Chinese, and Japanese. What makes Gate.io stand out in this era of cryptocurrencies is the size of the exchange. It is among the top 20 crypto exchanges out there. The fact that Gate.io undergoes a heavy trading volume of over $40 million every single day is enough to give you an idea of its scale and position in the market. The low fees associated with the company’s services add to its list of pros. Customer support is available in Chinese as well as English.
History on Gate.io
Gate.io does have a series of major events decorating its life cycle. Well, it is because Gate.io is a relatively new crypto exchange that emerged in late 2017. It originated in Virginia, United States, and has its central building in that city. The ID verification gets increasingly stringent with increasing transactional amount. It is available for traders in website format and offers an alternative to the already popular platform out there. The information accessible to customers on Gate.io is subject to their personal interest in the currencies they want to deal in.
However, a lack of a concrete historical background should not be taken as a reason to discount the credibility of Gate.io. In its short yet focused run as a digital currency trading platform, Gate.io has garnered a huge customer base. The volume of trades flowing through Gate.io on a daily basis is massive. Well, it would not be far-fetched to say that despite its lack of a long track-record, Gate.io might just create history in the long run. The option to view information about preferred digital coins does not eliminate the power to look at general market trends. This crypto exchange is based on the crypto-to-crypto model of trading. The supported currency pairings are that of ETH, EOS, BTM, BTC, ONT, and USDT.
the team working on the website for Gate.io is a group of dedicated professionals trying to bring out a great user experience without compromising on functionality. Gate.io made its entrance into the market in 2017, and in this relatively short span of time, the company has done pretty well for itself. The numbers speak for themselves, and the whole credit for this crypto platform’s monumental growth goes to its core team.
No clear information is available about the credentials of the team members, but the efficiency of the trading platform does say a lot about their capabilities. The support section on the website provides all relevant information that new users might need to get their trading journey started. All relevant topics have been covered with attention paid to conciseness and clarity. Customers can even submit tickets detailing about their problems. The support staff thereafter works on the resolution of the reported issues. The inculcation of a complaint redressal system is one of the reasons that Gate.io has evolved at such a rapid rate.
How to trade on Gate.io
Trading on Gate.io is a simple affair. Your journey would begin by getting a hang of the website’s user interface. Once you understand the basic commands, your subsequent steps would depend heavily on your personal knowledge of cryptocurrencies and trading in general. Another thing that you would like to know is that Gate.io specifies no minimum deposit level for its customers. You’re to begin as low as you want. Furthermore, selecting trading pairs can be accomplished simply by making use of a drop-down menu. You can access the option by using the ‘markets’ button on the top area of the website.
After selecting appropriate trading pairs, you’ll be required to analyze relevant information on the trading screen. However, before you dive into your analysis, take a second to let all the information sink in. Looking at so many different statistical representations at once can be overwhelming for first-timers. Placing an order is a simple ordeal, and happens according to the amount you fill. Any matching orders to your open order will be displayed on the screen itself. You also need to know that there is no fee for deposits, but a 0.2% fee for trading does exist. However, you can get access to discounts if your trades move to a higher tier.
Gate.io is a crypto exchange platform that not only offers its customers the ability to trade using a mobile website but also provides mobile apps for Android as well as iOS. Installing the applications is simple. All you need to do is the find the app on the respective store, and download it. The installation will happen itself, and as soon as it finishes, you can make trades on your smartphone.
The application can be installed on Android devices using the Play Store, and the same outcome can be achieved on iPhones or iPads using the App Store.
Create an account on Gate.io
Creating an account on Gate.io is as easy as signing up for a social media platform. All you need to do is visit the website and fill up the form associated with the sign-up process. The ‘New User Signup’ button will be the place to start. You’ll also need to fill up a captcha to prove that you’re not an automated bot. Once you agree to the user agreement on the website, the account creation process will be complete. You can thereafter begin trading using your credentials.
When Gate.io came into the picture, it did not require any KYC verification at all. However, the company has changed its direction, and it is now required to complete Know Your Customer norms in order to streamline withdrawal requests.
Well, Gate.io’s new approach to KYC norms is one that needs appreciation. Identity verification helps in reducing the number of illegal activities that plague the cryptocurrency market. Identity fraud on the internet has resulted in huge losses for many people. Even though cryptocurrencies exhibit transparency at their core, a few layers of security don’t do any harm. In fact, they help further bolster the functioning and credibility of a digital currency exchange.
In terms of community trust, Gate.io does not fare as well as some of its companions. Despite the presence of customer support, the response garnered by grieved customers has not been up to the mark. Pending complaints and unexplained disappearance of coins from certain accounts plague Gate.io till date. However, you must not perceive that Gate.io doesn’t implement any security protocols.
All the coins of the company’s users are stored in cold storage. Till date, the website has not been the victim of any hackers. No such reports have made it to the surface. Furthermore, Gate.io has an active social media presence. So, it’s not difficult to contact them on different platforms. The usage of the hot wallet also adds to the security of the platform.
Conclusion on Gate.io’s review
Gate.io shines because it has created a platform similar to most cryptocurrency exchanges in a very short span of time. In terms of functionality, there aren’t a lot of issues to be had with this cryptocurrency exchange. Despite the average community trust, Gate.io more or less delivers what it promises. All the charts and trade histories available for traders to look at are crisp and appropriately detailed. The user-interface itself is easy to understand with time. All of that means more because of the fees associated with the services of Gate.io. It is a lot cheaper than some of the premium alternatives in the market.