Is Gate.io Trustworthy? How to Use? How to Deposit? – Gate.io, which is among the most used cryptocurrency exchanges in recent years, stands out with its rich trading option. Gate.io has several advantages for users of all levels, from amateur investors to professionals.
However, it is among the oldest cryptocurrency exchanges. However, since it is not very old in the market yet, the question of whether Gate.io is reliable is often asked.
What is Gate.io?
Gate.io is among the oldest cryptocurrency trading platforms founded by Lin Han in 2013 in China. However, the company realized its main growth after 2017 and managed to increase its international trade volume. Gate.io is frequently mentioned, especially with the Initial Exchange Offer (IEO) and gem coins.
Although Gate.io was founded in China, it later moved its headquarters to the USA due to pressure from China. At the same time, it served as Bter until 2017, then changed its name to Gate.io.
Although it provides services in different countries of the world today, it entered the market last year. Operating as a legal company, Gate.io also manages to stand out with its language support.
Is Gate.io Trustworthy?
While Gate.io is among the exchanges with the highest cyber security score, it keeps user reliability at the highest level. At the same time, 95% of the information and assets of the customers are kept in cold storage. This ensures minimum loss in possible cyber attacks.
Gate.io, which was chosen as the most reliable cryptocurrency exchange in 2020 by Cryptocurrency Exchange Ranking (CER), uses advanced methods for possible hacking attacks. It also has a system where customers are rewarded if they notice and report security vulnerabilities.
Gate.io provides its customers with advanced security methods to ensure user security. While two-factor authentication is the most preferred, it also offers the advantage of encryption of funds.
Is Gate.io Hacked?
Gate.io was hacked in 2015 and lost 700 BTC. Gate.io, which increased its security measures after the hack, was not hacked later, although it was exposed to cyber attacks.
Gate.io regularly tests security vulnerabilities and takes the necessary precautions. On the other hand, the most important and only attack in the history of the stock market took place in 2015.
However, it is not correct to make a judgment like ‘it will not be hacked again’. All cryptocurrency exchanges involve various risks for cyber attacks.
What are Gate.io Features?
Gate.io is among the rare exchanges that support 1000+ trading pairs and list over 800 cryptocurrencies. Especially with the listing of gem (high yield and low price) coins, many investors started to create Gate.io accounts. At the same time, it is possible to say that it differs from other competitors with its high IEO volume.
Gate.io offers a particularly good option to buy unknown coins. For example, coins that were not listed anywhere before can be listed first on Gate.io.
With the listing of the relevant coin on giant exchanges such as Binance or Coinbase, the earnings rate increases. However, it should be noted that this is not the case for every coin.
Another prominent feature of Gate.io is that it allows transactions with leverage up to 10 times. It can be said that it is an advantageous option, especially for professional investors. Apart from futures, it also has options such as spot trading and margin trading.
What are Gate.io Advantages?
Standing out with its rich list of cryptocurrencies and trade diversity, Gate.io continues to offer various advantages to increase the number of customers.
It is possible to say that it offers opportunities especially in leveraged transactions and gem coins. However, this can be a disadvantage for some users.
Some advantages offered by Gate.io:
- The low commission rate for crypto-to-crypto transactions,
- High security measures,
- Creating multiple subaccounts,
- Staking and lending transactions,
- VIP membership levels,
- Sending 0.1% USDT from Tron (TRC) network,
- high trade volume,
- Crypto loan and margin trading,
- 24/7 live support,
- fast transaction,
- Telegram channel,
- High winning rates offered in pool, prize and lottery systems,
- NFT trading.
What are Gate.io Disadvantages?
The most important disadvantage of Gate.io is that it does not support fiat currencies. Dollar, Euro etc. in many countries. units can be deposited directly into the account.
It is possible to deposit or withdraw money from your Gate.io wallet with debit/credit card or money order/EFT methods. Therefore, the easiest method is to transfer from another cryptocurrency exchange.
For example, when you want to deposit money into your Gate.io account, you must transfer it from your Binance wallet to your Gate.io wallet. The same process applies to withdrawing money. Be sure to choose the Tron (TRC) network here. In this way, you can send almost free with 0.1% USDT.
Other prominent disadvantages of Gate.io:
- In mobile applications and browsers,
- Not having live support,
- Does not support withdrawing fiat currencies,
- It has a complex structure for withdrawals,
- Does not have a user-friendly mobile application for beginners,
- Its interface is inadequate and complex,
- Low withdrawal limit.
Gate.io has a mixed structure overall, but you can have a lot of details in a few days. On the other hand, when you verify your identity or increase your transaction volume, money transfer limits increase.
Countries where Gate.io is banned:
- USA (for New York and Washington)
- North Korea
You can use the Gate.io platform from anywhere in the world, except for the above countries/regions.
How to Use Gate.io?
To use the Gate.io platform, you must first register. You can complete your registration free of charge via the website or mobile application:
- Click the register button,
- Password, e-mail, phone number, etc. enter information,
- Click the Next button,
- Verify the code sent to your e-mail address,
- Create a special fund password that is not the same as the login password,
- Your membership will be completed.
You can turn off the fund password in the settings, but I must remind you that it is necessary for extra security.
After completing your membership, you need to verify your identity. TC ID card etc. for identity verification. Take a selfie by uploading an official document to the system. The approval process will take approximately 12 hours.
Gate.io How to Deposit?
When you become a member of the Gate.io platform and verify your identity, you can proceed to deposit. However, it is not possible to deposit money in TL. Therefore, you need to transfer from another cryptocurrency exchange you use to your Gate.io wallet.
To deposit at Gate.io, follow these steps:
- Login to the application or website,
- Select Wallet > Deposit,
- Find the cryptocurrency you want to transfer,
- Select tron network,
- Copy the wallet address,
- Transfer to your Gate.io wallet from a different cryptocurrency exchange.
When you send money to your Gate.io wallet, the transfer is completed in about three to four minutes. However, if you haven’t received any money in your wallet for a long time, you can connect to the Gate.io customer representative.
To withdraw money from Gate.io, you must be a member of a different cryptocurrency exchange. It is not possible to withdraw money through a bank or other financial institution. You can only transfer from a cryptocurrency exchange to a cryptocurrency exchange.