Gate.io Review, Usage Tips and Referral Benefits

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Table of Contents

Company

Founded on 27 May 2013 by Han Lin, Gate.io is consistently ranked amongst the top 10 exchanges in the world.

Key metrics

  • 10+ million users in over 130 countries [May 2022]
  • $10 billion in single-day trading volume [2022]
  • 1,400+ kinds of cryptocurrencies [May 2022]

Presence in Singapore

Unknown

Regulation by Monetary Authority of Singapore (MAS)

Unknown

Social media

Ecosystem

Token

GateToken (GT) is the native token of Gatechain mainnet. It became exchange token of Gate.io formally on March 2, 2020.

As an important part of Gate.io ecosystem, GT can be used in VIP tier escalation, trading fee debit, exclusive activities participation etc. Gate.io will also increasingly empower GT with more use cases to improve its intrinsic value.

βœ”οΈ Unique Selling Proposition (USP)

Early lister of new cryptocurrencies

Gate.io is often one of the first exchanges to list new cryptocurrencies. These include meme coins, which might interest punters. Accordingly to CoinMarketCap, Gate.io supports 1000+ digital currencies and more than 1,700 trading pairs.

Low trading fees

Gate.io is known for its low trading fees compared to the competition.

❌ Drawbacks

Trading pairs limitation placed on Singapore users

Singapore users are only allowed to trade in the following crypto assets:

  • Bitcoin Cash (BCH)
  • Bitcoin SV (BSV)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Stellar (XLM)
  • Zcash (ZEC)

Above list was obtained from a live chat with a Gate.io customer service officer on 12 Dec 2021. The information is not published publicly and changes will be communicated by the backend team, or users can approach the customer service team directly to check for updates.

When you try to trade in a token that is restricted from Singapore users, you will see a popup like below:

error popup when trying to trade in restricted token.

Usage Notes and Tips

What is USDTest?

After onboarding to Gate.io, you can participate in various activities to receive bonus USDTest. But what is USDTest?

I couldn’t find much information on the Gate.io website, but there are some discussions on Reddit:

My understanding is that USDTest does not have any real value. But you can stake it to get real USDT in return. E.g. If you stake $1000 USDTest at 5% interest rate, you should be able to cumulatively receive $5 USDT across one year.

I missed out on receiving my free $1000 USDTest when I signed up, and I didn’t care for it since I wasn’t aware of its purpose. Hope you don’t miss out too.

I missed out on receiving my free USDTest
I missed out on receiving my free USDTest

Completing tasks to receive more USDTest

Under “Giveaways -> Tasks & Bonuses”, there are tasks you can complete to receive more USDTest.

Complete these tasks to receive more USDTest
Complete these tasks to receive more USDTest