Gate.io is a platform that allows users to buy and sell digital currencies. The platform is originally from China and was founded in 2013 by Lin Han. Gate.io, by then, was known as Bter.com. It was later rebranded in 2017 into Gate.io.
The rebranding was triggered by the 2015 hack that led to a loss of 7,000 BTC. This massive loss saw the Chinese government ban fiat to crypto trading in 2017. Gate.io moved to the US and established its headquarters in Mclean, Virginia.
It commands a huge trading volume and supports over 1,200 coins. The most famous ones are Bitcoin, Polkadot, Ethereum, Litecoin, etc.
Although accessing these crypto products depends on your location. There is still a major debate about Gate.io and its security measures. Is gate.io safe? Are investments secured? Stick around to find out.
1) Rewards, Fees and Discounts
Gate.io is a super attractive platform. It rewards its users regularly for using its services. For example, when you trade for the first time. The fees are also low; you only incur 0.2% of the total order amount.
If that's not enough, you receive amazing volume tier discounts. However, investors who hold the GateToken (GT), which is the native token, enjoy these privileges more. With GT, you can access unique activities and initial coin launches.
2) Design and Security
Overall, gate.io has a beautiful design and a variety of exciting features. One of them is the three different night modes in the background. The problem, however, comes in during navigation. New and inexperienced users often find it difficult to navigate through the platform.
In terms of security, gate.io employs; two-factor authentication, logins verification, Blind IP logins, etc. The only thing it doesn't employ is the Universal 2nd Factor (U2F).
Gate.io also makes use of hot and cold wallets. The platform has developed a Know Your Customer (KYC) policy to verify their customer’s identities. KYC also discourages funds used in money laundering and other illegal activities.
This has led to Gate.io being ranked by CER as one of the top platforms in terms of cybersecurity. Despite all this, the platform is still somehow susceptible to hacking. In 2019 the platform was hacked and lost over $ 200,000 in crypto assets. However, some of it was recovered.
How to Create an Account on Gate.io
Step 1: Log into the Gate.io Website
Confirm if your country supports Gate.io. Then choose your country from the options given and enter a username of your choice along with your email.
Step 2: Enter a Strong Password
Generate the right password for you, not too easy or too hard.
Step 3: Verify Your Email
A link will be sent to your email to verify your email.
Step 4: Verify Your Details
Verification of personal details is under the Know your Customer protocol. If you have passed successfully, you can begin trading in Gate.io.
Gate.io is one of the oldest crypto trading platforms. It is home to many traders, especially experienced ones. However, there have been some mishaps here and there. Although Gate.io is still one of the best platforms.