A reliable cryptocurrency exchange or a Chinese fake: review and feedback on Gate.io
Gate.io: Cryptocurrency Exchange with a Special Experience
In the public consciousness, Chinese goods are associated with low prices and poor quality products. However, in China, people are known for their special intelligence, determination, and high level of responsibility. Let’s take a closer look at the activities of the Gate.io cryptocurrency exchange to understand how much it can be trusted.
A Brief History Overview
In the distant year of 2013, the Bter exchange started its operations in China. It continued successfully until the spring of 2017, when changes in legislation occurred in the country. As a result of these changes, Bter closed, and all clients were transferred to the new cryptocurrency exchange, Gate.io. Gate.io is owned by the American company Gate Technology Inc. The exchange is registered in the Cayman Islands, where its central office is located. Gate.io has certain restrictions on clients: citizens of the USA, Japan, Canada, and a number of other countries cannot become their clients.
Why Gate.io Outperforms Competitors?
In addition to years of experience, Gate.io has a number of advantages over its competitors:
- Low fees. The cost of transactions on the exchange is 0.2%, which is lower than many other exchanges. The withdrawal fee depends on the specific token.
- Intuitive interface. User-friendly graphics make using the site comfortable even for beginners.
- Multilingual support. Support for 12 languages, including English, Japanese, Chinese, and others. However, the Russian translation needs improvement.
- Customer support. The website includes FAQs and instructions for users. In case of non-standard situations, users can contact customer support available on Twitter or Telegram.
- Security. Gate.io pays special attention to security. Accounts are protected by two-factor authentication and other methods.
Despite the advantages, the exchange has its drawbacks, such as the lack of regulation. Nevertheless, Gate.io has repeatedly confirmed its security and reliability, ranking among the top 100 safest cryptocurrency exchanges according to ICOrating.
Registration Process on Gate.io
The registration process on Gate.io is similar to other platforms. On the main page, you need to click on the “Sign Up” button and fill out the provided form.
To confirm your email, follow the link in the email that will be sent to the specified address. If all actions are performed correctly, you will receive a notification of successful registration.
Gate.io also offers account verification to increase security levels and improve operational efficiency.
Trading Process
To start trading, you need to log in, select the currency pair of interest, and begin trading. The exchange applies a 0.2% fee for transactions.
Gate.io also offers margin trading and the opportunity to work with perpetual contracts.
Conclusion
Gate.io offers its clients a wide range of cryptocurrencies, low fees, a high level of security, and access to a mobile application. However, the exchange also has its drawbacks: lack of information about developers, lack of regulation, and lack of support for fiat currencies. Overall, the exchange can be rated 8 out of 10.
Gate.io is a cryptocurrency exchange that was founded in 2013 and is based in China. It offers a wide range of cryptocurrencies for trading and has a user-friendly interface. However, there have been some concerns raised about the legitimacy of the exchange and whether it is a reliable platform for trading.
One of the main criticisms of Gate.io is that it has been accused of being a Chinese fake exchange that engages in market manipulation and fraudulent activities. There have been reports of users experiencing issues with withdrawals and deposits, as well as concerns about the security of the platform.
On the other hand, there are also many users who have had positive experiences with Gate.io and have found it to be a reliable and trustworthy exchange. They appreciate the wide range of cryptocurrencies available for trading and the user-friendly interface.
Overall, it is important for users to do their own research and due diligence before using any cryptocurrency exchange, including Gate.io. It is recommended to only trade with funds that you can afford to lose and to use caution when dealing with any exchange, especially those based in China.
In conclusion, while there are mixed reviews and feedback on Gate.io, it is ultimately up to the individual user to decide whether they feel comfortable using the platform for their cryptocurrency trading needs.