When it comes to crypto trading, there are many cryptocurrency exchanges available. However, as a trader, you should pick something that has the highest number of tokens available, low transaction fee, and all the trading features that you will need. And in this category, Binance and Gate.io are two of the biggest names.
So if you are confused between these two platforms and wondering which one you should choose. Then I welcome you to this Binance vs Gate.io comparison.
In this article, I will be drawing out a comparison between both the exchanges and help you pick the right one.
What is Binance?
Binance is one of the best cryptocurrency exchanges out there. It is the largest crypto exchange by trading volume.
Binance allows you to trade in the spot market and Binance future is of the leading crypto futures exchange as per the trading volume for margin and futures. Plus, you get access to a wide range of other features.
On Binance, you can trade more than 150+ coins. Also, the number of coins is increasing day by day. Some of the popular coins that Binance supports are Bitcoin, Link, Tezos, Cardano, Ethereum, and more.
With Binance, you cannot only trade in crypto. But you can also get access to Binance Savings and staking feature. So you can earn interest on your crypto holdings.
Also, the platform is suitable for both beginners and advanced traders, and it has a low trading fee. You may also check this Binance review article for additional information.
What is Gate.io?
Just like Binance, Gate.io is also one of the popular cryptocurrency exchanges. Even it is one of the oldest and the second largest crypto exchanges out there, which rebranded itself of Gate.io in 2017.
And since then, the company has become one of the fastest-growing crypto exchanges with a leading initial exchange offering.
Gate.io allows you to trade in a wide range of cryptocurrencies, and you get features like margin trading with leverage. Also, it features other advanced financial services.
However, many users did not like the trading interface of the platform. So if you are a new trader then Gate.io might not be a good place to start with.
Binance vs Gate.io: Trading Fees
When it comes to choosing a trading platform, it is important to consider the trading fee and ensure that you are not paying too much.
Talking about Binance, it has the lowest trading fee. Also, you get a 25% discount on trading fees when you pay using BNB, which is the native coin of Binance. If you don’t pay using BNB, there will be a 0.1% trading fee.
Talking about the regular trading fees, for a trading amount of below 1,000,000 BUSD will occur a maker and a taker fee of 0.1000% / 0.1000%. If you pay using BNB, then it will be 0.0750% / 0.0750%.
Also, Binance follows a different fee structure for different types of trading. So it is best to check out their website for complete info.
Just like Binance, Gate.io also has a simple tiered fee structure. The tiers are based on the last 30 days’ trading volume or GT holding.
Gate.io has a total 17 tiers. The market maker and taker fee range from 0.2% to 0.15%, which is highest to 0.065% to 0.025%, lowest for spot trading.
Also, it charges about 0.00%/0.050% (highest) to –0.025%/0.030% (lowest) for futures. Plus, if you hold a GT token in your account and use it for transactions, you will get a discounted trading fee.
Binance vs Gate.io: Supported Cryptocurrencies
As a trader, you always want to invest in newer coins. Hence you must choose a trading platform that gives you access to a wide range of tokens. And in this case, both the exchanges let you trade in multiple tokens.
For instance, when it comes to supported currencies, Binance is a better option. Since it supports more than 500 digital assets and crypto coins. You get to trade in popular tokens like Bitcoin, Ether, Binance Coin, Dogecoin, LUNA, Litecoin, and more. Also, newer coins keep being added to the exchange.
On the other hand, Gate.io does not allow you to trade in as many coins as Binance does. But still
you will be able to trade in most of the popular cryptocurrencies like Ethereum, Bitcoin, Qtum, Dash, Ripple, EOS, Zcash, Dogecoin, and many more.
Also, if you are interested in newer coins, it is better to have your account open on different crypto exchanges like Kraken, Bybit, and FTX.
Binance vs Gate.io: Trading Platform Comparison
It is also important to choose a trading platform based on the trading interface. If the trading platform isn’t easy to use, most newbies won’t be able to get started with crypto trading.
Luckily Binance has two different user interfaces for both beginners and advanced users. The trading interface is mostly suitable for advanced users, and it supports multiple chart reading options. Such as Binance’s own charting system, or you can use TradingView’s chart.
The trading interface is also pretty easy to navigate through. And you will find all the trading pairs and tools which will help you in your trading journey.
However, as a newbie, you might feel the tools are confusing to use. But they have a trading knowledge section on their website where you can learn how to use Binance or trade crypto on the exchange.
On the other hand, Gate.io also comes with a great user interface. However, beginners might find the interface too confusing to use. But it features all the tools you will need.
It supports multiple time frames, hundreds of trading indicators, drawing tools, and many more. Also, you get to see the Gete.io trading window in the left corner of the interface.
On the right side, you will find the order book and the live trades section. Under the order book, you will find an order form where you can place your orders.
Binance vs Gate.io: Security Features
It is also important to choose a trading platform that offers you ultimate security. As you don’t want to lose your funds to hackers.
If we talk about Binance, then it offers you features like two-factor authentication or 2FA, addresses whitelisting, device management, the ability to restrict device access, and more.
Also, if you are from the USA, then you will have to use Binance.us trading platform. And the best part of it is that you will enjoy FDIC insurance on all your USD funds under Binance, FDIC-insured USD balances policy.
Similarly, Gate.io also has implemented strong security measures in place. For instance, it uses cold or offline storage to keep your funds. For additional security, you will get access to multi-signature addresses, two factor authentication, anti-phishing code, IP whitelisting, and more.
Is Binance Safe?
Without any doubt, Binance is one of the most secure crypto trading platforms out there. The exchange has a global availability and is known for offering reliable service. Also, the exchange offers you lots of security features to protect your account. Also, you are getting FDIC insurance while using Binance.us. However, Binance has a history of hack attacks.
Is Gate.io a safe exchange?
Gate.io is another safe crypto exchange for futures out there. The company has a mandatory KYC requirement for all its users. Also, it takes all the important security measures that are needed to offer a safe trading experience to you.
So that was a quick comparison between Binance and Gate.io. Now go ahead and check both the exchanges out, compare their trading fee and features and choose something that meets your requirements. Also, for any other questions, do comment below.