Nowadays, it is difficult for investors to determine which cryptocurrencies are worth investing in them. To solve this problem, one of the trading platforms was created. It is Gate.io. In addition to providing a platform for trading digital currencies, Gate.io can also provide its users with specific information about the cryptocurrency markets. The platform allows you to view prices for a wide range of altcoins that are associated with 4 major cryptocurrencies such as Bitcoin, Ethereum, Tether, and QTUM.
Key information about Gate.io
Gate.io is a subsidiary of Gate Technology, Inc. Traders can use the web version or the mobile version, which is available for IOS and Android. There are currently four markets available: Tether, Bitcoin, Ethereum, and stable coin conversion for different countries. This latter option is a portfolio of several different stablecoins displayed in the local currency of whatever country the user is from. All other coins are traded against one of these four markets.
How the Gate.io exchange works
The official site is Gate.io. The interface is similar to other exchanges like Binance, with a rather sophisticated charting function, order books, and trading history tabs.
Users can place limit orders, orders with pricing conditions, or orders with temporary conditions. The limit order works the same as on any other exchange. You enter the price you are willing to pay for the coin, the order is immediately placed in the order book, and if the price reaches the level you selected, your order will be executed. Price condition orders allow you to place an order that only goes into the order book if the price condition you choose is met. Temporary orders are entered into the order book based on the time interval you select. It means that you can receive book orders at set intervals if you want to split your purchase over several hours.
Surprisingly, there is no market order option as users have to match the market price themselves through a limit order. It is an unpleasant limitation.
Trading fees, limits, and assets of Gate.io
The rates are pretty simple. Zero deposit fees are currently charged. Trading fees for all pairs except USDT / CNYX have a flat rate of 0.2 percent.
There is also a minimum order size of $ 10.00 per trading pair that needs to be considered. Withdrawal limits vary depending on the coin. Users can withdraw up to 100 BTC, 3,000 ETH, or 100,000 USDT per day for standard accounts. However, it is possible to raise these restrictions when submitting KYC documents. It is important to note that unlike other KYC approval procedures on other exchanges, this does not automatically lead to higher withdrawal limits across the board. Instead, you should email support and request a higher limit for a specific coin.
The variety and range of trading pairs are impressive. They currently offer 266 coins and 356 different trading pairs. Of these pairs, the top three are EOS / USDT, ETH / USDT, and BTC / USDT.
Margin trading
Unlike most other exchanges, Gate.io offers margin trading. It is currently only available for 24 coins. The maximum leverage that traders can use is x3. It is a very useful service, although the leverage is much lower than some other exchanges like Bitmex. Traders choose 10, 20, or 30 days for their margin. Gate.io will liquidate your position if your losses exceed levels, at which you can no longer pay for them. At this point, the exchange will pay off all debts from your account and close all open positions. Trading fees for margin positions are the same as for spot positions.
Gate.io registration
Visit their website and create an account by following the registration process. You can open an account by clicking New User Registration under the Login button. Then, you will be redirected to the registration page. Then, you can enter your username, email address, an account password, and fund password (for asset management). You will also need to enter the code from the picture to complete the account creation.
By checking the User Agreement box and clicking Create Account, you complete the registration process, and a confirmation email will be sent to the address you provided.
Security measures
When you consider the security of any exchange, there are two vulnerabilities that you, as a user, need to think about. One of them is the mechanism for protecting the username and identity of the user, and the other is the mechanism for storing funds by the exchange.
Fortunately, Gate.io offers very strong account protection. Users must set separate and different passwords for accounts and funds and can use two-factor authentication. Account passwords are used to log in to the system, and the fund password is reserved exclusively for deposits and withdrawals.
Concerning the security of the crypto exchange, based on the information available, the practice appears to be rigorous. Gate.io practices offline cold storage for most funds. However, they also use hot storage wallets to fund their daily transactions.
Conclusion
Gate.io is a good exchange for users who want access to a wide range of coins, leverage margin trading, and don’t want to go through extensive KYC to open a basic account. It is a stable platform that has proven itself well both for its level of security and an extensive list of trading tools.
