Gate.io is an extremely comprehensive cryptocurrency trading platform for Australians, with tons of features available. There are around 1000 cryptocurrencies, low trading fees of 0.2%, and a wide array of markets. There is spot trading, margin trading, ETF trading, futures, NFT marketplace and more. Even with all the features, it is an exchange that is simple to use, with an intuitive layout, and if you do find yourself with questions, you can contact the support team via live chat or email.
What is Gate.io Australia?
Gate.io has so many different cryptocurrencies and trading markets that it is a crypto trader's paradise. Here is a quick summary of the best features found on this platform.
- 1000 different cryptocurrencies supported
- Heaps of trading markets, such as spot trading, margin trading, ETF trading, futures
- Mobile apps available for iOS and Android
- NFT marketplace where you can buy, sell and mint your own
- Staking supported, to earn interest on your crypto
- Low trading fees of just 0.2% for makers and takers
- Copy Trading - automatically copy the same trades as a successful trader that you want to follow
- Cryptocurrency lending and borrowing
Australian Alternatives to Gate.io
Huge range of 1000 cryptocurrencies
Gate.io has one of the largest collection of cryptocurrencies of any cryptocurrency exchange. Digital Surge has 300+ coins and CoinSpot has over 370+, but Gate.io dwarfs that with its range of around 1000 coins! Any experienced crypto trader will expect the most popular coins to be available, such as BTC, ETH, XRP, AVAX and DOT, but with Gate.io you can find new coins that you have never even heard of, and get in early before it potentially moons.
Various trading markets
Gate.io is so much more than a basic crypto exchange that offers only spot trading. On Gate.io, you have the choice of trading ETFs, futures, derivatives, and even margin trading. If you are into NFTs, you can even buy, sell or mint your own NFT on Gate.io. Even crypto traders that have been trading for years will find something that they can explore on this platform.
Gate.io has included a relatively new feature onto their exchange, where users can copy the trades of successful traders. After selecting which trader you want to copy, any trades that they make will be automatically copied by your account, so that you can benefit from the skills and experience of others. If you like how it is performing, you can invest more with the same trader at a later stage; on the other hand, if you are not seeing good gains, you can stop copying and invest your money elsewhere.
Earn passive income
You can earn passive income on your crypto on Gate.io when you lock your cryptocurrency for a set time period (eg: 14 days). Visit the 'HODL & Earn' section on the platform and you can find the various options available to you.
Mobile app available
You can trade no matter where you are, thanks to Gate.io's mobile apps for iOS and Android. There is no worry about missing out on trading opportunities when you can always keep an eye on your portfolio and watchlist, no matter where you are.
Negatives of Gate.io
No fiat withdrawals available
The major downside of Gate.io is that you cannot withdraw your AUD from the exchange. If you want to cash out your profits, you will need to send your crypto to another exchange (I suggest Digital Surge), sell it on there, and then withdraw to your bank account.
Fees and Payment Methods
There are no fiat deposit methods on Gate.io, as they only accept crypto deposits, which are free of charge.
However, if you want to purchase crypto directly using AUD, which will then be automatically added to your Gate.io account, you can do so using bank transfer or credit card. There is a fee that will be charged, and will vary depending on your third party payment provider.
Trading fees are 0.2% for makers and takers.
When trading futures, there is 0% fee for makers, and a low 0.05% fee for takers.
There is no withdrawing of AUD supported, but if you want to withdraw cryptocurrency, there is a fixed fee based on the coin. Click here to see a list of crypto withdrawal fees.
Gate.io's security is extremely in-depth. They have various measures to ensure they maintain platform security, account security, asset safety and compliance security. There are too many methods to go into detail here, but if you are interested, read it on Gate.io's website.
Pros and Cons of Gate.io Australia
Gate.io is an amazing crypto trading platform for those that want something more than a basic buying and selling experience. You can trade 1000 different cryptocurrencies, with low fees of just 0.2%. Users are not limited to spot trading, but can access ETFs, futures, margin trading and even NFTs. With extra features like staking, crypto borrowing, and crypto lending, Gate.io is a one-stop shop for crypto enthusiasts.
The downside of Gate.io is that there are no fiat withdrawals from the platform, which means if you want to cash out your profits, you will need to transfer your crypto to another exchange that accepts AUD withdrawals. My suggestion is any of the best crypto exchanges, in particular Digital Surge. It is easy to set up a free account on Digital Surge, send crypto from Gate.io to your Digital Surge account, then sell your crypto. From there, you can withdraw your AUD to your bank account. If you still want to look around more before committing to a crypto exchange, then read our helpful article on the top crypto exchanges in Australia. The quick comparison table below gives a brief overview of the top crypto platforms and some key information.
Australian Alternatives to Gate.io
Frequently Asked Questions
Yes, Gate.io is a legitimate and trusted crypto trading platform with extensive security measures, so you can trust it to keep your funds and data safe.
Yes, Gate.io is an American company founded in 2013. It is safe to use in Australia.
The fees are a low 0.2% per trade for makers and takers. This can be lowered if you are a high volume trader.