What is Gate.io? How to Register on Gate.io?
Established in 2013, experiencing many ups and downs and having to change its name, Gate.io has attracted the attention of the community thanks to the IEO sale. So, is there anything special in Gate.io for users to keep an eye on?
Today, please join me to find out about this old and new exchange!
What is Gate.io?
Gate.io is one of the oldest exchanges in China. The exchange was founded in 2013 with the first domain name is Bter.com, under the leadership of CEO Lin Han.
In 2015, Bter.com was hacked, resulting in a loss of about 7,000 BTC in cold wallets.
In 2017, because of the regulations on cryptocurrency in Beijing, Bter.com closed the old domain name and changed it to Gate.io.
From there, the exchange abandoned trading in fiat currency. Gate.io shifted its focus to Crypto-Crypto transactions.
Gate.io is currently operated by Gate Technology Inc., based in Virginia, USA.
Advantages of Gate.io
- Gate.io has high security requirements. You must use 2 passwords, one is your regular account password and the other is your payment password. You must enter your payment password before each transaction and withdrawal request.
- Can choose many forms of trading.
- Gate.io currently has spot trading, margin trading, and token sale of IEO.
- Gate.io has a fairly preferential commission policy. Other exchanges only reward one side for rewarding. Meanwhile, Gate.io floor rewards both the invited and the invited. You invite new participants to the floor will receive 30% of the transaction fee for 1 year of that person. The invitee also receives a 10% discount on the first year.
- The app development platform for iOS and Android phones is quite complete. This helps you to be able to transact in time without always bringing your laptop.
Disadvantages of Gate.io
- Team information is very few. Therefore, I cannot assess the experience or expertise of Gate.io developers.
- Transaction fee on Gate.io is 0.2% This is a relatively high fee compared to the general premises. By comparison, Binance, KuCoin only charge 0.1%.
- Gate.io has been hacked many times
- The KYC process on Gate.io is a bit more complicated than the others. According to my experience, KYC confirmation is also longer.
- There is no fixed withdrawal limit for the account. Instead, you have separate limits for each coin. This is quite a strange rule.
What is the transaction fee on Gate.io?
Gate.io exchange charges 0.2% of each sibling’s transaction. This fee is not too competitive. However, with the commission bonus program of the exchange, you register your account via the ref link will be discounted 10% of transaction fees in the first year.
In addition, if you trade the full amount of money below, you will receive an additional discount.
Like many other exchanges, Gate.io does not charge a deposit fee. The withdrawal fee depends on the coin. You can refer to the fee schedule to withdraw coins here: https://www.gate.io/fee.
What is Gate.io’s native coin?
Gatechain Token (GT) is a native coin of Gate.io. This is a newly launched product of the floor, belonging to the GateChain ecosystem.
It is worth noting that GT is the first token to sell IEO of Gate.io. Within 7 days from April 8 to April 14, IEO GT has collected nearly 3 billion USD.
Currently, Gate.io has just opened a transaction for Gatechain Token on April 24. And you cannot withdraw GT.
According to the roadmap of the Gatechain Token, QII / 2019 is the initial token distribution period. Gatechain Token is expected to testnet in QIII and Mainnet may take place in QIV this year.
In the early stages, you can use GT to reduce Spot Trading and Margin Trading fees on Gate.io. In the next development steps, Gate.io is expected to have more features in the GateChain ecosystem.
How to Register on Gate.io?
First, visit the account registration page of Gate.io account HERE.
Please fill in the required information as below:
- Country/Region: Select your nationality
- User name: Your’s name, consisting of letters and numbers.
- Password: Enter a password of at least 6 digits.
- Confirm password: Please re-enter the above password.
- E-mail: Fill in your Email address.
- Fund password: As I said above, this is your 2nd password. This password must be different from the account password.
- Confirm fund password: Enter your 2nd password again.
- Referral ID: This is the invitation code for the commission’s commission program. You can leave it blank.
Gate.io will send a confirmation email to you. You click on the link sent in the mail to confirm your account registration.
Then, you enter your email and account password to have successfully logged in.
Currently, Gate.io is among the top 50 in terms of adjusted trading volume, according to Coinmarketcap. Every day, the exchange processes about $ 93 million worth of transactions.
With the advantages, features and disadvantages that I have mentioned above, Gate.io still has an advantage worth you to experience. GT coins are quite new and likely to develop in the future. Opening and selling IEO tokens on Gate.io is “easy” and does not have to be bought as much as other famous exchanges.
Therefore, if you are looking for a new exchange or want to allocate a bit of assets, you can look to Gate.io. Hopefully my article today helped you to have useful knowledge about Gate.io.
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