Several BAYC and CryptoPunks collectors who put up their tokens as collateral backing for Ethereum loans have been unable to settle their dues. Crypto analysts believe this could mark the onset of the first major liquidation crisis in the NFT industry. BendDAO Loans and Possible Risks Rumors of a liquidation spiral began earlier this week following a post about NFT lending platform BendDAO. BendDAO is a web3 protocol that allows users to take out loans in Ethereum using their non-fungible…
Gate.io wishes to become a one-stop-shop for all crypto enthusiasts. The system lets you choose among different features and hundreds of different coins in its catalog.
The platform allows spot and margin trading with more than 1,000 trading pairs. Today’s guide will provide more information on Gate.io through a complete review of this platform.
Inexperienced traders can use Gate.io to acquire less famous cryptocurrencies. Some nations allow margin trading on some of the 1,300 cryptos offered on the platform.
Gate.io’s user-friendly platform is suitable for both rookie and experienced traders. Aside from cryptocurrency trading, the platform supports leverage of up to 100x for trading operations.
Investors can obtain HODL profits through crypto investments, and a demo version of the system is available on the Gate.io testnet.
This website allows you to borrow other cryptocurrencies by pledging other crypto assets. According to Gate.io, these charges are lower than the market average.
Customer care is available around the clock on this platform and is free. In addition, there is a detailed FAQ section and various user guidelines.
Gate.io has a 0.2 percent maximum trading charge. Moreover, customers can save money by paying using Gate.io’s utility token. Even though it is not the cheapest platform on the market, this cost locates itself in the lowest market range.
If you wish to join this system, go to the Gate.io website. Here, look for the ‘Signup’ button in the upper right corner of the page. When you click the Signup button, a registration form will pop up, asking for your name, email address, etc.
As is customary, you must agree to the exchange’s terms and conditions before completing this step.
If you tick the box on the left, they can advance to the next page by clicking “Next” on the right. You will get a confirmation email from Gate.io to the specified address to verify your identity. All you need to do is open the message and click the link to complete the signup process.
Users must also set up a unique “fund password” distinct from their login password. As we explain in the dedicated section, this operation is among Gate.io security requirements.
Trading on Gate.io
After authenticating their accounts and making the necessary deposits, you may immediately begin trading digital assets. At this point, you will need to choose between a Standard and a Professional trading interface.
Trading charts, order profiles, an order entry box, and a trading history are all part of the Standard package. The Professional system features more advanced tools, which can be handy if you are not a beginner.
The Copy Trading Feature
Crypto copy trading services provided by Gate.io are customizable to suit any investor’s risk tolerance. The system offers a wide range of options, from the most basic to the most advanced. Gate.io’s copy trading aims to enable you to make the best decision possible when copying someone else’s moves.
In cryptocurrency trading, there is never a lack of alternatives to choose from. If you don’t know the finest crypto trading methods and how to use them, the internet is rife with information.
Crypto is getting more popular and mainstream, but the market may also be daunting for new investors. Rookie traders don’t know where to start and don’t know what to anticipate. Crypto copy trading services provided by Gate.io mainly target this class of investors.
The website ranks its users based on different parameters. For example, you will be able to see how much a trader is making on the market. Another interesting statistic is an investor’s past performance.
Gate.io offers a backtesting feature as well. This functionality lets you evaluate your theoretical past performance based on another trader’s strategy.
Withdrawals and Deposits
As a crypto exchange, Gate.io offers the chance to deposit and withdraw funds. The sections below will clarify how these two mechanisms work on the platform.
Deposit Your Funds
Depositing funds is a standard procedure on Gate.io, as we explain in the following steps:
- Enter your Gate.io username and password. When you’re in the Wallet, select “Classic Account” and then “Spot Account.”
- Enter the deposit page by clicking “Deposit” and selecting a coin from a drop-down list. You can also search for the token name in the dedicated field.
- Click on “Submit request” after providing Gate.io with the required information.
- The deposit status will be available in “Recent deposit records” after you complete the third step.
Withdraw Your Funds
If you wish to withdraw your funds from Gate.io, you will need to follow the steps below:
- With your Gate.io login credentials, you should access your account. Select “Classic Account” and then “Spot Account” from the Wallet menu.
- Enter the withdrawal page by clicking “Withdraw” in the upper-right corner. You may also directly look up the coin you want to use in the withdrawal and click on “Withdraw.”
- If you’ve selected “To Address,” specify the token and the chain you desire. Provide the wallet address, the amount, and any relevant information about the transaction. “Submit request” is the final button you need to click.
- Once you’ve clicked “Submit request,” you’ll be able to review and confirm your withdrawal.
- Do you want to find older withdrawals? Go to the “Recent Withdrawals” section and check the operation you need.
Gate.io Trading System
The Gate.io frequently mentions having a platform that is easy to navigate. The main menu displays all essential categories (such as spot market, margin trading, etc.)
As mentioned earlier, Gate.io included a more professional-looking charts interface as well. The “Trading View” functionality triggers a simple-to-use charting system that provides sketching tools, technical indicators, and more.
The GT Token
The Gatechain mainnet’s native token is GT. On March 2, 2020, it officially changed its name to “GateToken” and became an exchange token of Gate.io. GT and Gate.io have been working together ever since.
Gate.io Point customers received GT as a complimentary gift with an initial quantity of 1 billion. There are currently just 0.3 billion in circulation, thanks to the subsequent burning of 0.7 billion.
GT lives in a strongly deflationary framework due to the implementation of buyback and burning strategies. Regarding utility, traders can use GT to increase the VIP tier, deduct trade fees, participate in special events, and more.
Handling Security and Privacy
Gate.io’s team often explains placing a high priority on ensuring its users’ and servers’ safety. Gate.io stores user money and personal information in a hybrid system of hot and cold wallets.
If we wanted to list the ways Gate.io attempts to bring more security into its system, we could mention:
- Use of Google Authenticator for two-factor authentication
- Notification through SMS, authentication of login
- Anti-phishing rules
- Login system through blind IPs.
Moreover, as we mentioned earlier, having separate passwords for login and money management is necessary.
Regarding security, you should be aware of a critical aspect of the know-your-customer (KYC) method. You can deposit funds without going through the KYC procedure. However, Gate.io does not recommend this way of operating. Withdrawing money is not possible until you complete the verification procedure.
Gate.io offers a wide range of services and assets as a popular cryptocurrency exchange. Furthermore, it is possible to earn interest on crypto in addition to trading various cryptocurrencies.
User help is available 24/7 via Gate.io’s vast back-end support center. So, you can reach Gate.io customer service through live chat or email. Gate.io support center is available to answer any questions traders may have at any time of day or night.
All these features appear to make Gate.io a user-friendly platform. Today’s guide provided more information on how this system works. Readers can find out more about Gate.io by visiting its official website.