Key Data

• Trading Name: Gate.io
• Legal Entity: Gate Technology Inc.
• Activities: Crypto exchange platform
• Location: Cayman islands 
• Regulations: none 
• Key People: Lin Han (Linkedin)

Gate.io is a bitcoin exchange platform that supports trading BTC, LTC, Ethereum, Qtum and other blockchain assets and was founded in 2013 by Lin Han (Linkedin).

Until 2017, the exchange was called Bter.com. However, it was forced to rename itself to Gate.io when the Chinese government banned fiat cryptocurrency trading in 2017. The old domain was closed, trading pairs for fiat cryptocurrencies were discontinued, and the focus was shifted to crypto-to-crypto and OTC trading in the Chinese yuan.

Offering

Gate.io trades over 1,300 cryptocurrencies. These include almost all of the top 20 cryptocurrencies by market cap, as well as many less common coins that are hard to find.

In addition to the normal spot trading you would expect on any crypto platform, certain users can also access leveraged and futures trading. The platform also has an NFT trading platform and offers crypto interest products. Some advanced features are not available in certain countries, including the US.

The platform is mainly designed for professional traders. However, the platform is also suitable for beginners with little experience.

However, the trading fee structure at Gate.io is different for spot and margin markets. Accordingly, the spot trading fee per transaction at Gate.io is 0.2%.

According to its website, Gate.io operates in over 200 countries and trades around 50 different fiat currencies (traditional money such as US dollars).

Users can only deposit fiat money to Gate.io’s platform using third-party apps such as Banxa (PR42 profile), MoonPay (PR42 profile), or Simplex (PR42 profile).

Gate.io is sending mixed messages about whether Americans can use its platform. It’s not clear what the platform’s regulatory status is, which states it’s allowed to operate in, and which cryptocurrencies are restricted for U.S. citizens.

In the past, the Gate.io platform has been hacked. In 2015, Gate.io was designated a BTER and over 7,000 BTC were stolen from the platform.

The lack of clarity about Gate.io’s regulatory status is also an important reason to be cautious.

Conclusion

Due to their lack of regulatory oversight, as well as their poor customer ratings and lack of transparency regarding company data, we place gate.io on our “Red Compliance” list.