Gate.io is a platform that started its work in 2017. This cryptocurrency exchange was created by the American company Gate Technology, registered in Virginia. The platform is not among the leaders of the cryptocurrency market, but stands out with other advantages. Therefore, there are those who wish to trade virtual coins on this site.

In fact, Gate.io is a rebranding of the Chinese exchange Bter, which was closed due to restrictions in China. The administration of that platform recommended that its customers switch to the new Gate.io site. You can download Gate.io for Android at the https://install.download/android/gate-io 

Brief overview of Gate.io

The main advantages of this cryptocurrency exchange include the following factors:

• a large selection of coins;
• many trading instruments;
• multilingualism;
• good level of security.

Among the disadvantages of this exchange are:

• lack of fiat currencies;
• difficulty for beginners;
• poor quality of the Russian version;
• no information about the owners of the site;
• lack of licenses.

Detailed Review of Gate.io

In fact, the exchange was opened in 2013. However, in China, Bter had difficulties, after which the site had to be closed. It was then that the story of a new brand - Gate.io - began. Now the site does not have any associations with the Celestial Empire.

The cryptocurrency exchange boasts a large selection of coins. Traders get the opportunity to choose to trade more than 300 pairs. These are popular bitcoin, ethereum and litecoin, as well as less significant coins.

The platform has been translated into 14 languages, including Russian. At first, only English, Chinese and Japanese versions were provided on the exchange. But gradually this list has expanded significantly.

For protection, a system with two passwords is used. One is required to enter the site, the other is required to perform operations with cryptocurrency. Separate words deserve a cold wallet. With it, you can store coins offline. Experienced traders can easily understand the operation of the exchange. At the same time, beginners sometimes experience difficulties caused by the interface.

Let's take a closer look at the individual moments of this site.

Personal Area

For comfortable work, you need to set the interface language. This is done in the upper right corner. Please note that the Russian-language version is not entirely correct. Therefore, in some cases it will be necessary to clarify the information in English. At the same time, having understood, the user will not experience any difficulties here.

Registration is extremely simple and straightforward. You just need to enter your name, email address and set a password. After that, read the text of the user agreement and accept it. Next, set another password that will be used to conclude transactions and withdraw funds. Moreover, it must be different from the login password.

An email will be sent to your email. Follow the link that is indicated in it, completing the account activation process. When you enter your personal account, a warning about the danger of phishing will appear there and a list of the official sites of the platform will be presented.

Verification

According to the rules of the exchange, you just need to go through the usual registration, and the verification procedure is not required. However, such a test will give certain advantages, so it is better to pass it. You can increase your withdrawal limit. Also, users who have passed verification inspire more confidence when concluding transactions.

You will need a scan of your passport, as well as a selfie along with this document. To pass this verification, you need to go to the KYC section. Next, select the desired subsections and upload documents. The verification process can take up to a day.

Security

User funds are stored in crypto wallets. To protect the coins, the exchange uses quite effective measures. Among them are:

• 2FA from Google;
• 2FA via SMS;
• password for login confirmation;
• withdrawal password;
• anti-phishing.

These tools provide good protection against intruders. Therefore, the Gate.io exchange is considered a safe platform. Moreover, protection mechanisms are constantly being improved.

As an option for two-factor authentication, it is better to use the Google service. It is much safer and more reliable than 2FA via SMS. This way you will provide the best protection against intruders. The system is activated through the Two-factor verification section.

Deposit and withdrawal

The deposit is made without commission. To perform the operation, you need to go to the Wallet section and select the Deposit subsection. Next, specify the coin you need and get the address of this transfer. Top up your crypto wallet from another exchange or service. Please note that Gate.io does not accept fiat currencies. All operations here are carried out in a crypt. Therefore, you need to initially have coins that you will use in calculations.

Withdrawal of funds is also carried out through the Wallet section. Go there and enter the address for the transfer of cryptocurrency. Please note that next to the field for entering the amount, the minimum and maximum parameters will be indicated. The withdrawal is carried out after confirming your request. The commission for these operations depends on the option you choose.

Operations between users of the exchange are carried out using a special internal Gatecode.

Market selection

The user can choose from a variety of markets. Go to the Market section and see the available options. There you will find traded coins, order book, information on world prices.

Basic and professional trading is provided for clients. The first option is designed for beginners or traders who do not yet have extensive experience in cryptocurrency transactions. The second one is suitable for professionals who are well aware of the features of this activity and know how to trade. In both cases, you can place orders to buy or sell cryptocurrency.

Buying with fiat currency

Although the exchange does not work with fiat currencies, you can still use this option to buy coins. To do this, use one of the following methods:

• credit card;
• bank transfer;
• direct purchase.

When choosing the first method, you interact with a special exchanger. In the second option, the purchase occurs through the Legend Trading service. This is a third-party platform dedicated to trading virtual and fiat currencies. To perform such an operation, you need to have a verified account.

A direct purchase involves an interaction with another individual. This is done through the C2C trading section. Select an available offer and make a purchase. In this case, the exchange acts as an intermediary.

Spot and margin trading

With spot trading, you become the real owner of the cryptocurrency. Here, users are provided with a classic or professional set of tools. It all depends on which trading option you choose.

In classic trading, you read charts, follow prices, orders, and use a range of other tools. At the professional level, there are much more charts, indicators and other analytical data. Both options differ in interface features.

When trading on margin, you enter into transactions using leverage. Classic and professional versions are also available here. In the second case, the maximum loan amount is increased. However, such transactions carry serious risks. Therefore, many traders choose spot trading.