Gate.io vs Binance: Crypto Exchange Comparison

We compared Gate.io and Binance across various metrics to help you choose the right cryptocurrency exchange.

Cryptocurrency exchanges have become an essential aspect of the rapidly growing digital asset market. With so many exchanges available, choosing the right one can be a daunting task. In this blog post, we’ll be taking a closer look at two of the most popular exchanges in the industry – Gate.io and Binance.

If you’re new to the world of crypto trading, this blog post will provide you with a comprehensive comparison of Gate.io and Binance, highlighting their differences and similarities.

We’ll delve into critical factors that may influence your decision, including fees, trading volume, supported coins, deposit and withdrawal methods, security measures, user interface, and customer support.

Summary: Binance is the Winner due to its High Volume, High Liquidity, Low Fees, and Overall Customer Satisfaction.

Comparison between Gate.io and Binance

Binance
Top Trading platform with high volume and a 100 million user base.
  • Trading Platform Features: Spot and Futures, Margin Trading, Leveraged Token, Dual Investment, Liquidity mining
  • Trading Fees: 0.1% maker, 0.1% Taker Fees (30% BNB discount)
  • Number of cryptocurrencies supported: 350+
  • Minimum deposit: $10
  • Fiat Supported: EUR, GBP, BRL, and +8 more (currently USD not supported)

Pros

  • User-friendly interface
  • Low fees
  • Wide range of cryptocurrencies
  • High liquidity
  • NFT Marketplace

Cons

  • Limited supported tokens
  • Regulator issues in past
  • History of security breaches.
gate.io
Best Crypto Exchange for Low Market Cap Altcoins with High Liquidity and Volume.
  • Trading Platform Features: Spot and Futures, Margin Trading, Leveraged Token, cloud mining, Copy Trading, Lend & Earn,
  • Trading Fees: 0.2% maker, 0.2% Taker Fees
  • Number of cryptocurrencies supported: 1628
  • Minimum Deposit: $10
  • Fiat Supported: KRW, EUR

Pros

  • Wide range of trading pairs
  • high APR Clod mining services
  • Variety of trading types
  • Easy-to-use trading platform and mobile app

Cons

  • Limited Fiat support
  • High Fees
  • No Market Order for Spot Traders.

Gate.io vs Binance: Key Specifications

Gate.io and Binance are two of the most popular cryptocurrency exchanges in the market today. They were both launched in 2017 and have headquarters in the Cayman Islands and Malta, respectively.

Gate.io supports over 200 countries, and Binance supports around 150 countries. Both exchanges have a significant number of active users, with Binance having over 100 million users, while Gate.io has over 10 million users.

Another difference between the two exchanges is the KYC (Know Your Customer) requirement. While Gate.io does not require KYC, Binance does require it, which may be a concern for some users. Finally, both exchanges have been reviewed positively, with Gate.io receiving a rating of 4/5, while Binance has received a rating of 5/5.

SpecificationGate.ioBinance
Launch Year20172017
HeadquartersCayman IslandsMalta
Countries Supported200+150+
Active Users10+ M100 MILLION
Cryptocurrencies Supported1500+350+
Spot Trading Fees0.1% – 0.2% (depending on 30-day trading volume)
0.1% (or less with BNB)
KYC Required
Rating★★★★☆★★★★★
ReviewGate.io ReviewBinance Review

Gate.io vs Binance: Fees

When it comes to trading fees, Gate.io and Binance offer different rates for different types of trades. For spot trading, Gate.io charges a maker-and-taker fee of 0.2%, while Binance charges a lower fee of 0.1%.

For futures trading, Gate.io charges a maker fee of 0.015% and a taker fee of 0.050%, while Binance charges a maker fee of 0.02% and a taker fee of 0.04%.

In terms of margin borrowing interest, Gate.io charges a flat fee of 18.0%, while Binance charges a variable rate of 0.03% to 0.07% depending on the amount borrowed.

When it comes to options trading, Gate.io does not offer this service, while Binance charges a flat fee of 0.02% for both maker and taker trades.

Finally, for peer-to-peer trading, which involves buying and selling cryptocurrencies directly with other users, both Gate.io and Binance offer this service for free.

Read More about Binance Fees and Gate.io Fees

Trading FeesGate.ioBinance
Spot (maker / Taker)0.2% / 0.2%0.1% / 0.1%
Futures (Maker / Taker)0.015% / 0.050 %0.02% / 0.04%
Margin Borrow Interest18.0% Fees0.03% – 0.07%
Options Trading0.02% / 0.02%
P2PFreeFree

Gate.io vs Binance: Payment Methods

Comparing the payment methods offered by Gate.io and Binance, it is evident that both exchanges provide their users with various options to fund their accounts. Bank transfers (SEPA), and credit/debit card payments are supported by Binance, while Gate.io does not support them.

Furthermore, both Gate.io and Binance accept third-party payment services, giving users more flexibility in how they choose to make their transactions. However, there are some differences between the two exchanges when it comes to fiat deposits.

Gate.io allows users to deposit funds in KRW and EUR, while Binance supports an even wider range of fiat currencies, including EUR, GBP, BRL, and many others. Nevertheless, both exchanges permit fiat withdrawals, providing users with an easy way to access their funds when needed.

Payment MethodGate.ioBinance
Bank Transfer (SEPA)
Credit/Debit Cards
Google Pay and Apple Pay
Cryptocurrency
Third-Party Payment Services
Fiat DepositsKRW, EUREUR, GBP, BRL, and +8 more
Fiat Withdrawals
Deposit and Withdrawal FeesHigh Low

When it comes to withdrawal fees for cryptocurrencies, both Gate.io and Binance charge different fees depending on the specific cryptocurrency being withdrawn.

For Bitcoin withdrawals, Gate.io charges a flat fee of 0.001 BTC, while Binance charges a lower fee of 0.0002 BTC. For Ethereum withdrawals, Gate.io charges a higher percentage-based fee of 0.0019 ETH, whereas Binance charges a lower fee of 0.00077 ETH.

For USDT withdrawals using the ERC-20 token, Gate.io charges a flat fee of 3 USDT, while Binance charges a slightly higher flat fee of 3.2 USDT.

Gate.io vs Binance: Trading Platform Features

Gate.io and Binance are both popular cryptocurrency exchanges that offer similar trading products and services. Both exchanges provide spot trading, futures trading, perp trading, margin trading, options trading, OTC desk, copy trading, staking, lend & borrow, and NFTs.

Gate.io and Binance differ in their additional features. Gate.io offers trading bots, while Binance does not. On the other hand, Binance provides web 3 wallet and debit card services, which are not available on Gate.io.

Both Crypto Exchanges offer leverage trading up to 100x and Margin trading up to 5x.

ProductsGate.ioBinance
Spot Trading
Futures Trading
Perp Trading
Margin Trading
Options Trading
OTC Trading
Copy Trading
Trading Bots
Staking and Earn
Lending & Borrowing
NFT Marketplaces
Auto investment
Dual Investment
Cloud Mining
Liquidity Mining
DeFi Wallet
Exchange Visa Card

Binance vs Gate.io: Security

  1. Two-factor authentication (2FA) for logins and withdrawals.
  2. Anti-phishing code to help prevent phishing attacks.
  3. Withdrawal address whitelisting for added security.
  4. Withdrawal limits can be set by users to prevent large unauthorized withdrawals.
  5. Secure Asset Fund for Users (SAFU) which is a secure reserve fund to protect users in case of any security breach.
  6. Both Exchanges use a cold wallet system to store the majority of user funds, which are not connected to the internet and therefore cannot be hacked remotely.

Binance Hack: Binance has experienced several hacks in the past, but the company has always been able to recover from them quickly. The most notable hack occurred in 2019 when hackers stole over $40 million worth of cryptocurrency from the exchange.

Is Gate.io better than Binance?

Gate.io has an advantage over Binance when it comes to the number of coins and tokens it supports. Gate.io provides trading options for low-market capitalization altcoins on its platform, while Binance focuses on established and high-cap projects.

Additionally, Gate.io offers more opportunities for new startups to launch, while Binance has limited launchpad functionality.

Are Gate.io and Binance Solvent

Solvency is a measure of a company’s ability to meet its financial obligations, and it depends on various factors such as the company’s revenue, expenses, and liabilities.

Binance Solvent

Based on the Defillama data, we can see that Binance has a total asset value of $78.28 billion, with $26.76 billion in Ethereum, $21.17 billion in BSC, $15.69 billion in Tron, and $14.66 billion in Bitcoin.

Gate.io Solvent

Gate.io has a total asset value of $2.01 billion, with $1.29 billion in Ethereum, $281.46 million in Bitcoin, $117.59 million in BSC, and smaller amounts in other chains.

Note: The above data is not sufficient to determine the solvency of Gate.io and Binance because it only shows the total asset value of each exchange and the distribution of assets by chain, and does not provide information on other factors such as revenue, expenses, and liabilities.

Related:

  1. Binance Vs Crypto.com
  2. Binance Vs Kraken
  3. Binance Vs. Bittrex
  4. Gate.io vs Kucoin

Final Thoughts

If you value a wider range of trading tools and resources, a user-friendly interface, and slightly lower trading fees for high-volume traders, Binance may be the better option for you.

However, if you are interested in Low market cap coins, Cloud mining, and startup Investment, and prefer an exchange with no deposit fees, Gate.io may be the better choice.

The choice between the two will depend on personal preferences and trading needs. It’s important to consider factors like trading fees, security, user experience, and available features before choosing an exchange.

FAQs

Is Gate.io and Binance Safe to use?

Gate.io and Binance are generally considered to be safe and reputable cryptocurrency exchanges. They have implemented various security measures to protect their users’ funds and information, such as two-factor authentication, cold storage solutions, and regular security audits.

Can I transfer from Gate.io to Binance?

Yes, it is possible to transfer cryptocurrencies from Gate.io to Binance. To do so, you need to have accounts on both exchanges and have cryptocurrency balances in each account. Simply go to the “Withdrawal” section of your Gate.io account and select the cryptocurrency you want to transfer. Then enter your Binance wallet address and the amount you want to transfer.

What is Gate.io and Binance withdrawal limit?

The withdrawal limit for both Gate.io and Binance varies depending on the user’s account level and the cryptocurrency being withdrawn. Both exchanges have different verification levels that allow users to increase their withdrawal limits. For example, on Binance, a Level 1 account has a daily withdrawal limit of 2 BTC, while a Level 2 account has a limit of 100 BTC. Similarly, on Gate.io, a Level 1 account has a daily withdrawal limit of 10 BTC, while a Level 2 account has a limit of 100 BTC.

Amit Chahar

Amit Chahar

Hey! I am Amit Chahar, a Crypto and blockchain content creator at Wallet Reviewer. With 3+ years of experience as a SEO content writer, I love talking about blockchain technology, digital assets, DeFi, Smart Contracts, DApps, Digital Wallets, Metaverse, and NFTs.

Want to hire me? Contact: hello@walletreviewer.com

Articles: 276
error: