What is Gate.io?
Gate.io is a crypto trading platform. In terms of trading volume, it is among the TOP 10 largest cryptocurrency exchanges, as the simplicity of the interface and high security allow it to remain on the list of the best trading platforms.
History of the Gate.io exchange
Gate.io is one of the largest Chinese crypto exchanges, founded in 2013 by Lin Han. In 2015, the exchange was hacked, and as a result of which there were stolen 7,000 BTC from users’ cold wallets.
Until 2017, the exchange was known as Bter.com. However, the service was forced to rebrand and become Gate.io when the Chinese government banned buying crypto for fiat in 2017. The resource closed its old domain, abandoned fiat-cryptocurrency trading pairs, and switched its focus to crypto-to-crypto trades and OTC trading of the Chinese Yuan.
In 2019, Gate.io received $64 million in crypto for launching its own cryptocurrency and blockchain with the help of an IEO (initial exchange offering).
Currently, Gate.io is an exchange where trading volume and liquidity are not regulated in any way. The average trading volume on the platform is $797,247,188 per day.
This exchange is not available for work in:
- Cuba
- Iran
- Washington (USA)
- New York (USA)
- North Korea
- Pakistan
- Venezuela
- Crimea
- Sudan
- Syria
Products of Gate.io
- Strategy Bot
- Copy Trading
- Crypto Loan
- Margin Borrowing
- Liquidity Mining
- Lending & Single-Asset Vault
- Cloud Mining
- Slot Auctions
- ETF
Crypto trading on Gate.io
Spot trading
When trading cryptocurrencies, your first experience will probably be a trade in the spot market.
The Spot Trading section is presented in two versions: classic and professional.
The classic version offers a standard set of tools (chart, coin price, order book, etc.)
The professional version contains more functionality for trading and data analysis (a set of indicators, charting tools, etc.).
Margin trading
When a user plans to capitalize on an increase in value, he starts trading long. Starting trading with leverage, additional funds become available to the client of the service. In the BTC/USDT pair, funds can be increased by 10 times. This means that if a trader has 2 BTC, then the exchange will be able to provide him with 20 BTC at his disposal. This will make the user’s assets liquid. But if the trades are unsuccessful, then the losses will increase.
Traders can open both short and long positions during margin trading on the exchange. If the user has chosen a pair of BTC/USDT and is sure that the value of Bitcoin will increase, then he takes leverage in USDT and buys bitcoins at a bargain price. After that, he will sell BTC at a higher price. This is called a long position.
If the trader assumes a further decrease in the price of BTC, then he takes leverage in BTC in order to resell it at a high price and then buy it at a low one. This is called a short position.
Futures trading
On the exchange, 22 pairs of currencies are available to users. Like futures, contracts can go up or down. But they don’t have an expiration date. In 2019, Gate.io launched the trading of BitTorrent Token contracts. For most currencies, contracts are traded with a leverage of 20 or more. The exception is BTC/USD – 100, and ETH/USD – 50. When a transaction is made, a commission of 0.075% for the taker and 0.025% for the maker must be paid. The available number of contracts is 1 million.
Gate.io Mobile Application
The crypto exchange has its own mobile application for Android and iOS. It offers the trader the same set of functions as the platform’s desktop site. Downloading the software is absolutely free.
Since the trading platform is not subject to Google restrictions, you can download the Gate.io app for Android directly from the Play Market. To do this, you need to enter the name of the exchange in the search bar of the store, open the program page, and then click the “Install” button.
Downloading the app for the iPhone is also carried out in a standard way. You need to open the App Store, enter the name of the service, and click “Download” on the software page.
Gate.io Fees
Like most crypto exchanges, Gate.io charges fees for certain services. For example, if you decide to trade on this platform, you will not pay commissions for making deposits, but you will have to pay 0.2% for spot trading and margin trading. There is also a small fee for withdrawing funds, which varies depending on the cryptocurrency.
Security Gate.io
Gate.io uses various methods to protect user funds:
- Two-factor authentication (2FA) with Google Authenticator.
- SMS 2FA.
- User verification.
- Additional password for withdrawal of funds.
- Anti-phishing code.
Unfortunately, the platform does not use Universal 2nd Factor (U2F) protection, which is considered the most secure way to protect against unauthorized access to your account.
In addition, Gate.io secures user funds using both hot and cold wallets and other security methods. It is known that accounts with a large deposit must go through an extensive verification procedure (KYC&KYC2) in order to process withdrawals immediately.
Despite mandatory KYC verification, Gate.io is still an unregulated exchange and its legal status and obligations to customers are still unclear.
However, Gate.io has taken note of past mistakes and is now ranked as the second most secure platform according to CER’s top 100 exchanges in terms of cybersecurity.
What Cryptorobotics tools can be used on the Gate.io exchange?
Nowadays, Cryptorobotics is the best free trading platform that gives various ways to trade on the 15 best crypto exchanges including Gate.io. The Cryptorobotics team has created algorithmic and manual trading tools that enable traders to effectively manage their portfolios, increase profits, and limit losses. All tools are suitable for both beginners and experienced traders. Let us consider in more detail what opportunities the Cryptorobotics trading platform provides to traders.
Users of the platform can freely use manual trading, stop-limit orders, technical analysis, enter trades on 15 cryptocurrency exchanges, etc.
In order to use more advanced algotrading tools, traders should buy one of the PRO packages.
Algotrading tools include:
- Crypto trading bots
- Signal trading
- Autofollowing
- Copytrading
- Ladder smart orders
- OCOs, or smart orders
Crypto trading bots
Crypto trading bots are a program that is intended to track the necessary indicators and decide whether to enter the trade or not. Cryptorobotics trading bots are designed to sell and buy cryptos 24/7, even if the trader is not logged into the platform.
There are three types of such crypto trading bots:
- Optimus
- Cyberbot
- Channeler AI
- Trade Holder
Crypto Signals
The Cryptorobotics platform enables traders to follow analysts’ signals and track their execution from a single interface. Crypto signals are fully automated and significantly simplify the whole trading process making it more effective and reducing the risk of a deposit drawdown.
Autofollowing
Autofollowing is a function that automates the trading owing to the bot that follows analysts’ signals. Signals are given by the analyst, then the bot processes them and starts trading.
Copytrading
Copytrading is copying trades from a professional trader. This algorithmic trading tool helps understand how the market works, create a profitable trading strategy, and save time to conduct a deep market analysis.
Ladder smart orders
Ladder smart orders are used for the implementation of grid strategy. This type of order is executed when the price is up and down. In other words, this order type works when buy and sell orders are created around the specified price at regular intervals. Visually, this technique resembles a grid, hence the name. In this case, every time the sell price exceeds the buy price during a flat move, buy orders placed below are automatically executed, which then leads to sell orders that are placed above.
By the way, users can manage their risks by setting Stop Loss and Take Profit. These functions can mitigate losses and increase profits. It is worth noting that smart orders are placed to open market, limit, or stop-limit orders.
How to start using Gate.io via Cryptorobotics?
- Register here.
- Create an account on Gate.io.
- Bind the account of Gate.io to the Cryptorobotics platform.
- Customize the necessary features.
- Start trading.
Conclusion
The Gate.io trading platform allows you to trade with a fairly large number of coins.
Also, there is a great feature to check interest in new coins before listing them to trade new coins for a while. If users have shown interest in a new coin, then it appears on the exchange on an ongoing basis, and if not, then it is simply deleted (and you can withdraw this coin from the exchange within a certain time after its removal).
The Gate.io exchange is constantly expanding its functionality in accordance with current user requests and is one of the most secure according to several audits.
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