Gate io – review and fees. Is this crypto exchange is a Scam?!

gate.io

This Exchange Platform does not look like a scam and has many positive opinions on the internet. Gate.io provides an online service that allows users to exchange between themselves different blockchain assets, which are data that typically represents transaction, access, or other participation rights on corresponding blockchain networks. As we can read at their platform, Gate io may make available to Users other ancillary services to facilitate the exchange of blockchain assets.

How How to create an account on Gate.io?

To create new account, please make sure you are visiting our website correctly: https://gate.io. Then click New user signup on the home page. Please note, only the Sign up form on the right side of the page need to fill to create an account. Next, Please leave your login side empty. When the account is successfully created, you may log in on the login side of the page to log in your account. Then click Settings tab to enable Two Factor authentication to further protect your account. o enable the two factor authentication, you have to download an authentication app to your mobile phone or desktop device first. Then you may create an account with the KEY distributed to you on the authentication app. Next, enter the code generated by the app on the TOTP blank to enable Two factor authentication for your gate.io account.

Of course, if you want to reset your device, you may disable the two factor authentication first. To disable it, please click Settings > Two Factor Authentication to disable it with the valid TOTP.

So, with the valid TOTP, you may disable it yourself and then enable it again with the new authentication app later. If your device is broken and you can not get valid TOTP, please submit a ticket to contact our Support for help.
Next time you log in your account, a screen of User login-2nd Step displays after entering your email and password correctly. Then you may enter your TOTP code to login. You may choose to cancel it. If it is cancelled, you do not have to enter TOTP for login every time with the IP unchanged. However, your Two Factor Authentication is still enabled for your account.

There are really many currencies and clear charts at Gate.io.

Our review about this Crypto Exchange Platform

Currently, there is not much information about this stock exchange, so our review is based on assumptions. We did not find any negative comments about GET IO, but one opinion was too low for the ADA currency.

“Yesterday I bought ADA in Gate.io and it was at 0.90USD than after looking at my order history the trade was closed at 2.59USD each ADA… WTF!? Than, I paid attention and noticed that has a on development advice at ADA in Gate.io and the price was flashing between 0.9 to 2.50… I bought 0.4BTC and my immediatly loss was huge and I would like to know how GATE.IO will fix that huge problem… Will I be compensated? How a under development wallet allow users to trade and pay 4x more than actual price… That smells scam and I am worried about it…. “

Below is a comment which is the forum member’s response:

“Unfortunately not a scam but a sign of a market with low liquidity. I saw someone mentioning an identical thing on another exchange. The price flickers between more realistically priced orders that quickly get eaten up and higher cost sells sitting in the background. (Edit: I should say for market orders).
The exchanges should really have a mechanism to help avoid this. Like locking in an upper limit on the price before you process the order. That way worst case is noone is buying at that price and your order goes unfulfilled.
I know the above will be of little comfort for you now, hopefully you can recoup the losses through peaks and troughs.”

In our opinion, the Exchange is technically well-built and offers many interesting solutions. You can see that transactions take place quickly and nothing jams.

Fees and wallet

The last time many Exchanges have a problem with too high fees. People turn away from them and look for cheaper solutions. However, with regard to commissions, the Gate.io exchange has little to say. There is no information on commissions on their website:

We will not find out much about fees on their official website!

But is worth to know, that Gate.io provides wallets for all account holders for free. Click Wallet tab on the top of the webpage to access the wallet page. Then you may click Deposit button at the right side for a specific coin to generate the deposit address for that coin. They uses cold storage and a hot wallet, so your sending address for a digital asset will not be the same as your deposit address.

The withdrawal fee is deducted from the amount of asset you request to withdraw, not from the remaining balance. You can withdraw all the available balance in your account as long as the decimal places are supported.

Withdrawal limit

As the creators of the Exchange promise, the minimum and maximum withdrawal limit is for a single transaction only, indicating the minimum/maximum amount they allow you to withdraw for a single transaction for a given blockchain asset. You may check it on the withdrawal page of each coin you want to withdraw. The maximum withdrawal limit is not necessarily equal to your daily limit (24h). Worth to know, that the daily limit can be raised while the maximum withdrawal limit is not to be raised. If you want a larger daily limit you may submit a ticket.

We wish You good luck GateIO!!!
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