Gate IO is one of the oldest exchanges that supports over 1400 coins that exist on different blockchains. They just released a new website, that is way more user friendly.
The newly updated crypto exchange, that was first built close to a decade ago, has undergone some transformational changes to make trading in cryptocurrencies easy for everyone. Let’s look at some of the major changes and new features on Gate IO. If you never tried Gate IO before, there never been a better time to get started. Crypto Lists even think that Gate IO gone from a zero to a hero after the refresh – making it possible for everything to appreciate the wide range of options.
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When you visit Gate IO for the first time, you need to sign up on the home page. Fill in the required details — email address and name. Then you need to verify your email address through a link sent to your mail. You will also need to create a fund password to fully create your account. The KYC (Know Your Customer) process is quite rigorous as your provided name is matched against your national identification or driver’s license.
HODL & Earn
Through the HODL & EARN feature, Gate IO allows you to earn passively on your cryptocurrency. HODL is a strategy that capitalizes on long-term gains in the value of digital currencies. More long-term crypto investors usually call it staking rewards. Cryptocurrencies are volatile assets that experience swings in prices caused by many factors. A buy-and-hold strategy can create passive staking income for owners of cryptos.
Users can buy crypto on the platform and hold using the lock-up feature. A cool addition is that your crypto can earn interest in the form of another currency. You can choose how you would like to be paid during and after the lock-up period.
Multiple Deposits Methods
Gate IO supports multiple deposit methods. Major payment services, including Visa, Mastercard, and Apple Pay, support fiat currencies linked to debit or credit cards. In addition, you can deposit cryptocurrencies into your Gate IO wallet such as Ether, Bitcoin, Binance Coin or stablecoins such as Tether.
The applications of blockchain technology have led to new digital products besides digital currencies such as Bitcoin and Ethereum. Gate IO (see review) provides a platform for the transacting and storage of non-fungible tokens (NFTs). The “NFT Box” section on Gate IO opens a portal to a large selection of NFTs minted on several blockchains. Gate IO makes buying and selling NFTs easy because your wallet is accessible on the trading platform. If you are looking for inspiration, check out the following NFT related coins & tokens.
Using Leverage on Gate IO
Another feature of Gate IO is the leverage option. Gate IO offers its customers up to 5x leverage on their account balance to purchase ETFs. ETFs, or exchange-traded funds, are financial assets in traditional finance that consist of a selection of stocks or bonds. ETFs in crypto are portfolios of several coins.
The price movements of each coin in the portfolio dictate the portfolio’s overall return. This is a good way for inexperienced or passive crypto holders to make money because they can still make money even if one of their coins loses value.
Spot Trading and Futures
Spot trading refers to purchasing one cryptocurrency using another. For example, buying Bitcoin using Ethereum. Traders use this feature on Gate IO to execute different types of orders. Limit orders are executed when the market attains your preferred price. For instance, you can set up a limit order to purchase Dogecoin using your Shiba coin if Dogecoin comes down to a certain price. On the other spectrum of spot trading is the futures market. Here, buyers and sellers of crypto assets enter into contracts to buy or sell assets at a specified price in the future.
Gate Token (GT)
Gate token is an internal token on Gate IO. Users of Gate IO purchase the token using fiat currency or digital coins and are entitled to certain discounts and waivers depending on how often they use the token.
Trading in crypto assets, NFTs and other digital assets usually requires market insight and research. However, just like in conventional financial markets where you can mimic the positions of experienced investors, on Gate IO you can copy other traders’ trades. Copy trading on Gate IO is an automated process where your account can duplicate another trader’s activities in real-time. Copy trading can be a lucrative practice on Gate IO when combined with leverage.
Crypto Lists Ltd show the most popular crypto platforms, including Gate IO. Over the last decade, it has ranked among other top platforms for security, ease of transactions and adaptability. A lot has been said about cryptocurrencies, and many ‘traditional’ investors are still skeptical about them. However, to fully understand crypto and why platforms like Gate IO are important, we need to understand money.
Money is simply a medium of exchange and a store of value in some cases. Digital assets such as coins, NFTs and tokens are subject to market forces on the buy and sell side. Gate IO is where buyers and sellers meet in the digital marketplace to assign value to these assets. It is a place of infinite possibilities in many realms, such as art, movement of funds and a new digital economy.