In this guide, we’ll walk through the Gate.io exchange and give you all the details you need on how to buy crypto on Gate.io
- Signing Up For Gate.io
- Depositing Funds Into Gate.Io
- Trading Crypto
If you’re looking for crypto’s next undervalued gem, you have to get off the mainstream exchanges and dig deep down the crypto rabbit hole. If that sounds like something you’re interested in, Gate.io may be a great option to catch the next crypto before it pumps off of a Coinbase listing.
Founded in 2013, Gate.io is a KYC (know-your-customer) crypto exchange based in the US. Users enjoy Gate.io because of its access to loads of smaller cap cryptocurrencies and the relative ease of use to set up.
Signing Up To Buy Crypto On Gate.io
After creating your login information, you’ll also be asked to create a fund password as well, which is used for confirming transfers on the Gate.io exchange.
Now that you’ve got your account made, it’s time to deposit some funds so you can get started trading.
NOTE: now that you’ve made your account, you may notice a message telling you to complete your KYC verification for processing. While this may be confusing, you don’t actually need to complete KYC guidelines to trade on Gate.io, it is just needed for withdrawals. Verifying your identity with the platform will also help to enhance the security of your profile and funds sitting in your Gate.io account.
Head to your account profile at the top right of the page if you wish to complete KYC and other security measures, just know that these measures are only necessary when withdrawing tokens, so it may be handy to get that out of the way ahead of time.
Depositing Funds Into Gate.io
From the home page of the website, hover over “Wallet” at the top right and click “Funds Overview.”
From there, you should be met with the overview page of your Gate.io wallet. It should look something like this.
You’ll see there are three options to the right of “Wallet” to deposit, withdraw, and transfer. Click deposit, and then you will be prompted to select the cryptocurrency you want to deposit onto the platform. For this example, we’ll go with USDT. Keep in mind that Gate.io does not have any deposit fees, so you can load funds to your account free of charge. (There are small withdrawal fees, unfortunately, but we’ll get to that.)
The deposit process is fairly standard compared to all other exchanges: you’ll need to copy the wallet address provided by Gate.io and then paste it to the withdrawal wallet address on whatever exchange you are transferring from. Make sure that the address matches the specific cryptocurrency you want to transfer, otherwise you run the risk of losing your funds in the transfer process.
Now that you have your USDT or whatever crypto you decide to deposit, it’s time to head over to the spot market to start trading! At the top of the site, hover over “Spot.” You’ll notice two trading options: standard, and professional. For this tutorial, we’ll be using the standard option, however, the professional option is available for those with a bit more experience in the crypto markets.
This is what your standard spot market trading page should look like. There’s a lot of information on here to view the real-time transaction data on crypto assets, but we’ll be focused on buying/selling Bitcoin (BTC) for this example (You can select any crypto asset you’d like to trade using the left-hand side of the page).
Keep in mind that Gate.io does not offer direct market order buys, so you’ll need to set a limit order to purchase crypto.
Have no fear, however. Limit buying is rather straightforward — unlike a market order, which simply buys crypto at the current market value, a limit order allows you to set a price you would like to purchase your crypto at. If you don’t care about buying at a lower/higher price and just want that market buy effect, set the price at or slightly above the “Last Price,” which can be seen on the right-hand side of the screen.
To buy Bitcoin (BTC), first enter the price at which you would like to buy (Price USDT/BTC), then click on “Amount BTC” in the left panel of the trading screen and enter the amount you’d like to buy, denominated in BTC.
I’ve entered 0.01 BTC as the amount I’d like to purchase, and as you can see, it automatically displays the total cost of the transaction, $418.07 USDT in this case. Click “Buy (BTC -> USDT)” and upon purchasing, your order will open. Assuming the order gets filled, you can see your balance displayed in the green-highlighted text next to “My balance.”
You may notice at the top right of each panel there is a red “Stop Order” button. If you have placed a limit order that has not filled yet and decide you want to cancel it for any reason, click this button to cancel the trade.
Selling Bitcoin follows the same exact process as buying. Simply input the price at which you want to sell along with the amount of BTC, then click the red “Sell (BTC -> USDT)” button.
Now that you’ve bought/sold your crypto on Gate.io, you’ll want to get those funds off the exchange to cash out to your bank account.
To withdraw, your funds, you will need to have completed the KYC verification process as previously mentioned.
Once you’ve gotten that done, it’s time to head back to your wallet to send the crypto off the Gate.io exchange. From the wallet page, click “Withdraw” towards the top right of the page. In this example, I’ll withdraw USDT, but you can use any crypto asset you have purchased on Gate.io.
The exchange I am withdrawing to is Coinbase, which allows deposits for Ethereum-native (ERC-20) USDT. As you can see, underneath USDT, I’ve selected ETH/ERC-20 as my chain, and inputted the wallet address provided to me by Coinbase. Enter the amount you’d like to withdraw, and then fill out the series of security measures that Gate.io uses to verify your transfer. These security measures include the fund password (which you set up during the initial sign-up), an SMS code texted to your phone number, and an email confirmation code as well.
Let’s say you were withdrawing Bitcoin (BTC) to Coinbase, instead. Rather than selecting ETH/ERC-20, I would select BTC/OMNI as my chain. Remember, the crypto assets you are transferring must match the crypto address provided to you by the external exchange.
Keep in mind that Gate.io does charge small withdrawal fees, as well as required minimum amounts. For USDT, that minimum is $50. For a full list of details and withdrawal fees, click here.
After filling out the proper information, click “Submit Request,” and you’re done! Your funds should arrive shortly at the wallet address you entered. Now you know how to seamlessly navigate your way through the Gate.io exchange!
Thank you for reading our beginner’s guide “How To Buy Crypto On Gate.io.” We hope that this helps you easily navigate and use Gate.io. If you find yourself with any further questions, feel free to ask by commenting below. We are happy to help! If you are looking for a wide range of deep liquidity and interesting pairs with cheap fees and high security, you should check out Gate.io.