№ 25 | Gate.io - Cryptocurrency Exchanger Review CENTRALIZED
Gate.io is a cryptocurrency exchange that has been operating on the market since 2017.
The legal owner of the platform is Gate Technology Inc, registered in Virginia. The exchange offers its clients a solid choice of altcoins and is oriented to traders from English-speaking and Asian countries. The platform is not licensed in any jurisdiction. In fact, Gate.io is the renamed Chinese Bter cryptocurrency exchange, which has stopped working in 2017 due to restrictions of the Chinese government.
Gate.io is available in three languages: English, Chinese and Japanese.
The cryptocurrency exchange stably holds in the top-20. Such cryptocurrencies as Skrumble Network, Aeternity, SmartMesh are traded on Gate.io with the highest liquidity in the whole market. In total, over 300 trading pairs are available on the exchange. Traditionally, ICO tokens choose Gate.io to be one of the first platforms for listing. However, the platform does not work with fiat money. Cash-in and withdraw are available exclusively in the cryptocurrency equivalent. The minimum deposit size for different tokens and coins is different. For Bitcoin, it is 0.0001 BTC.
The withdraw is carried out with fixed commissions. For example, for BTC it is 0.002 BTC. In addition, the minimum withdrawal amount is 0.012 BTC. Transfers inside the exchange using Gate.io codes are conducted without commissions. What about the questions of security, the Bter exchange was regularly attacked by hackers and even hacked several times.
For example, in 2015, attackers abducted Bter 7000 BTC. During the days of Gate.io such incidents did not occur.
Gate.io has apps for iOS and Android.
Both are available in official Google Play and AppStore.
The programs are successfully adapted for mobile devices; they contain convenient drop-down menus, an intuitive interface and even tools for analytics. Actually, Gate.io is the same Bter exchange after re-branding. With a new name, the platform is much more stable and has a good reputation among traders.
However, the location in the US may turn into new restrictions for the cryptocurrency exchange. It is possible that the state regulator will take restrictive measures to the crypto-exchange exchanges.
The daily trading volume of Gate.io is approximately close to $47 millions of dollars. At the time of writing, 324 crypto assets are listed on Gate.io.
- Huge token’s diversity;
- Big range of minimum deposit;
- 2FA authentication;
- iOS and Android apps.
- No fiat support;
- Many negative comments.