Gate.io is one of the earliest and largest cryptocurrency exchanges, there are more than 1200 cryptocurrencies available for trading. The exchange was founded in 2013 and since then it has been operating stably and reliably. Gate.io offers a wide range of crypto services such as spot/margin/ETF trading, perpetual contracts, copy trading, buying and selling crypto, crypto news, lending, yield farming and NFTs.
Unfortunately, due to recent changes in regulations in the U.S. and Canada, Gate.io is no longer providing any services at all in these countries. The platform is recommended for experienced investors due to its complexity. The exchange generates billions of dollars in traded volume daily.
The exchange utilizes both cold storage and a hot wallet in order to store funds and has not yet currently been hacked. Gate.io also offers two-factor authentication, SMS notifications and KYC verifications.
Client accounts are secured by using two factor authentication and a combination of a ” login password” which allows users to log into their Gate.io account, and a “fund password” which provides access to trading and asset withdrawals. When signing up to the exchange users are advised to:
Gate.io also utilizes a tiered verification system for higher deposit accounts. For any withdrawals stuck in verifying status, it is necessary to go through the KYC2 stage.
To perform the KYC verification you can access your account, then click Wallet> KYC to upload your photo card and required information.
After finishing KYC1, you can continue to go through KYC2, and after finishing the KYC2 verification, your withdrawal will be processed immediately.
Gate.io was hacked in 2019 which resulted in the loss of over $200,000 in crypto assets, and about half of the value was already recovered. Despite the incident, Gate.io is one of the best-secured exchanges on the market. Cryptocurrency Exchange Ranking (CER), an independent authority that evaluates crypto exchange cyber security, listed the platform as the best exchange in terms of cybersecurity in August 2020.
Gate.io offers standard security features such as KYC verification and two-factor authentication via SMS and email, and the requirement that users create a distinct withdrawal password to remove funds from their accounts, also there is a bug bounty, which rewards those who discover vulnerabilities in the system. It is also the first exchange to invest millions in security and law to add extra protection for their clients. The exchange holds some of the client assets in cold storage wallets, which are disconnected from the internet to reduce potential risk.
Gate.io is a young crypto-exchange that appears to be operating out of the US. The platform offers trading in more than 20 digital currencies with rather competitive fees and mobile app is also available. However, it may not be convenient for all investors, as it supports only blockchain transfers in the cryptocurrencies that are being traded at the exchange.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|