Parachain auctions take place on the Polkadot and Kusama platforms and utilise DOT and KSM tokens, respectively. In exchange for lending network tokens to emerging cryptos, traders what is susd are compensated with regular airdrops of the new token over the staking period. With over 200 contract pairs, Gate.io provides an extensive perpetual futures market to users.
Due to the perpetual trading and highly volatile nature of the crypto markets, many advanced traders choose to utilise algorithmic strategies to maximise profits. Gate.io is a crypto exchange and blockchain financial services provider that boasts a significant range of options and opportunities, both in terms of assets and services. Great for newcomer and veteran crypto speculators alike, the exchange offers thousands of tokens and a wide range of advanced features. This 2022 Gate.io review will explore all the essential aspects of its offering, including fees, KYC verification protocols and limits, supported assets, platform security and payment methods. While some brokers allow users to demo trade before they open a full account, Gate.io requires traders to sign up and complete identity verification before accessing the demo trading facility.
Markets / Exchanges
More than 60 tokens can be bought and sold using OTC trading in a range of currencies, including USD, GBP and EUR. Whether you are trading on the spot market, holding leveraged tokens or trading futures contracts, it is crucial to understand the Gate.io trading fees and how they apply to you. The Gate.io platform supports margin lending and borrowing on hundreds of its tokens to enable traders to deal in the spot and futures markets with additional leverage. Clients can take both sides to margin transactions, lending out their wallet holdings in exchange for interest or borrowing from other traders at a fixed interest rate. VIP levels entitle clients to lower exchange fees and greater profits for margin lending.
There is a 5% commission on any profit made through copy trading, which is paid to the strategy provider. A helpful and responsive customer service team is the hallmark of any top exchange. Gate.io customer service is available 24/7 and is experienced in dealing with platform issues.
This calculator helps you instantly figure out how much one currency is worth against another when making currency exchanges. Gate.io news is regularly posted on the site, as well as on the exchange Twitter account and Telegram community. Look out for major news like the announcement of the upcoming addition of Binance Smart Chain contracts. Traders must pass verification to take part in Startup by providing full know-your-customer documentation.
Over-The-Counter Trading
Additionally, this facility has significant country restrictions, with clients from many major jurisdictions, including the USA, China, Malaysia and Canada, excluded. The firm has its headquarters in the Cayman Islands, though it also operates offices based in the US.
The CBBC differs in that once the underlying asset’s price reaches the call price, the option is automatically exercised, while warrants are more similar to traditional options. OTC transactions have no extraneous fees as the markup on a trade covers this, though OTC purchases using fiat currency may be subject to deposit and withdrawal charges. Profits made from lending crypto are subject to a base rate fee of 18%, though higher VIP levels see this fee reduced. Parachain auctions are another form of staking, often involving far longer lockup periods in exclusively fixed programs.
Currency converter
While less than 20 coins are supported through the flash swap system, this facility removes the need for trading through an intermediary currency, such as USDT or BTC, to swap two tokens. The sheer number of trading tokens listed on Gate.io provides comprehensive access to the crypto markets. The coin list for spot crypto trading stands at almost 1,300 tokens, which is many times more than several major competitors, with new listings and ICOs occurring regularly.
- This lets you access returns from Bitcoin mining without the significant initial investment required to mine independently.
- Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions.
- OTC transactions have no extraneous fees as the markup on a trade covers this, though OTC purchases using fiat currency may be subject to deposit and withdrawal charges.
- In terms of account security measures, the company requires users to set up a separate fund password to provide extra safety when managing funds or making trades.
Unfortunately for EU and UK traders, there are no GBP or EUR-based pairs on the platform. In addition to the most popular tokens, such as BTC, ETH and XRP, an abundance of altcoins and network tokens are offered. These include anything from the 2021 breakout token Safemoon to Flow Wallet and Paid Network, from AAVE, ACA and ADA to XCH, XLM and XPRT.
In terms of account security measures, the company requires users to set up a separate fund password to provide extra safety when managing funds or making trades. Additionally, users can protect their accounts further by using a time-based one-time password from Google Authenticator for two-factor authentication . Trading data is secured with high-level encryption while the platform’s functionality is protected by anti-DDOS measures.
The crypto services provider has since gone from strength to strength, surpassing 10 million global users in early 2022. You should use the currency converter if you’re planning to buy, sell, or transfer any kind of currency. Whether going on holiday and working out exchange rates or trading forex, this calculator can help.
Gate.io does not charge deposit fees on any coins, though there may be separate network costs. Withdrawal fees are based on a flat rate that is specific to each token, though in some cases a percentage fee also applies. Gate.io takes up to 18% of interest profits but fees scale depending on the account tier, referred to by the broker as VIP levels. The Gate.io Hold and Earn program facilitates the staking of tokens in exchange for rewards of up to 100% APY. Traders can choose between flexible and locked staking, with the former leaving them free to release their funds at any time while the latter prevents withdrawal during the staking period.
Gate.io vs Other Brokers
The stringent KYC checks that the exchange runs is a good sign that it operates with the best interests of its clients in mind. While Gate.io does not offer fiat currency deposits, the platform’s over-the-counter transaction service provides a way to use traditional currencies to buy crypto. While OTC trading has the advantage of filling transaction requests instantly, users are purchasing crypto directly from the broker, often at a bumped-up rate compared to market prices.
The Gate.io platform was first launched in China in 2013 under the name Bter.com by founder Lin Han. However, a ban on fiat-to-crypto trading by the Chinese government in 2017 forced holistic changes for the origin service. The owner took this opportunity to rebrand the company to Gate.io and launch an international platform that accepts UK and US customers.
The app is available to download directly from the website in APK format or can be obtained from the Google Play or Apple App stores. App reviews are mostly positive, though some iOS users complain of freezes and withdrawal problems. A dedicated NFT auction platform is hosted by Gate.io, featuring popular collections and live auctions. To encourage creators to use its service, the platform offers the chance to mint your first NFT with no listing fee. For experienced programmers that wish to develop their trading bots outside of the platform, Gate.io provides API documentation and WebSocket integration to facilitate the implementation of third party software.
The daily withdrawal limit for Bitcoin is 100 BTC, while Ethereum stands at 3,000 ETH. Crypto enthusiasts in the UK & USA will be happy to know that Gate.io accepts traders from America and the United Kingdom. However, US residents are excluded from startup crowdfunding, along with those from Canada and several other jurisdictions. With many investors looking to invest in the next big blockchain project, Gate.io Startup allows new protocols to access funding from its clients directly from their wallets.
Gate.io Facts & Figures Gate.io is a crypto exchange offering a variety of derivatives on a proprietary platform. If traders require support on the Gate.io exchange, there are several avenues to explore. However, these written guides vary in quality and legibility, with some areas poorly translated from the platform’s native Chinese. The platform has a native token, GT, that entitles holders to special privileges, such as reduced fees, exclusive startup opportunities, discounts on major tokens and access to governance voting. The GT token can be purchased through the spot markets or earned for participating in platform activities.
Crypto deposit times can range from instant to a few hours, depending on the crypto network. It is also worth noting that withdrawal without KYC verification is limited and in some cases prevented entirely. Several technical charting tools are also available, https://cryptolisting.org/ such as moving averages and awesome oscillator indicators. Up to four charts can be displayed simultaneously for real-time tracking of several tokens. Gate.io functions primarily as a token exchange and boasts a market of more than 2,000 token pairs.
Spot Markets
Chances are that if a coin is listed on any exchange, it will have a Gate.io listing. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. The calculator takes the latest information from currency markets to determine exactly how much each different currency is worth against others when making currency exchanges.
This varies from coin to coin but is generally high enough to not affect most traders. However, the withdrawal requirements for individual transactions are lower than the daily limit. Traders have the option of meeting a VIP tier’s requirements by purely holding GT tokens or meeting trading volume levels and having a smaller amount of GT tokens in their wallets. VIP tier 1 requires a 30-day volume equivalent to 1.5 BTC or more and owning 20 GT tokens.
Trading Instruments Comparison
One of the main drawbacks of Gate.io is the inability to directly deposit or withdraw fiat currency to its accounts. Instead, traders must either purchase selected cryptos using the OTC exchange or transfer crypto from another wallet or exchange. This is a more complex process than beginner traders may be used to, so Gate.io provides guides on how to deposit crypto from another platform. Gate.io also dabbles in options trading, offering monthly calls and puts on crypto spot prices. As well as standard options contracts, the platform offers the Callable Bull/Bear Contract and the Warrant.