As you step into the crypto trading world, the two most significant exchanges known for their distinct features that we often come across are Bitget and Gate.io. Now, are you curious to know which one is a better platform than the other?
Read on as we deeply analyse all crucial aspects of both exchanges, ranging from security, fees, trading options, services, and more.
Bitget vs. Gate.io Comparison Overview
| Bitget | Gate.io | |
|---|---|---|
| Year launched | 2018 | 2013 |
| Founder | Sandra Lou | Dr.Lin Han |
| Headquarters location | Singapore | Cayman Islands |
| Supported Countries | 100+ | 100+ |
| Users | 10M+ | 14M |
| Employees | 800 | 50-200 |
| Daily trading volume | $7.8 billion | $7.1 billion |
| Mobile app for iOS/Android | Yes | Yes |
| Ratings | 4.4/5 | 4.2/5 |
| Downloads | 1 million | 1 million |
Founded in 2018 under the leadership of Sandra Lou, Bitget functions as a cryptocurrency exchange with its headquarters in Singapore. As a prominent and respected platform, Bitget has a user community surpassing 10 million members spanning over 100 nations.
With a staff comprising more than 800 individuals, Bitget achieved its highest trading volume in August 2023, reaching a remarkable $7.8 billion in a single day. Investors are drawn to Bitget for its intuitive interface and the convenience of its mobile application.
Established in 2013 and based in the Cayman Islands, Gate.io is another reputable and long-standing cryptocurrency exchange. It is distinguished as one of the pioneers in the field, providing access to a vast selection of over 1700 cryptocurrencies.
This exchange stands out among global cryptocurrency traders for its advanced spot and futures market and competitive trading fees. With a substantial user base exceeding 14 million, the platform enjoys a daily trading volume consistently surpassing $7 billion, positioning Gate.io among the leading exchanges in terms of trading volume.
Bitget vs. Gate.io Signup & KYC
Signing up for a Bitget account is a simple process. Just input your mobile number or email, set up a strong password, and you’ll finish the registration in seconds. You might need to enter a 6-digit code sent to your registered email.
Bitget has now made the Know Your Customer (KYC) process mandatory. All users must clear the level 1 identity verification process to trade on the platform after completing KYC. Therefore, the maximum withdrawal is 3 million USDT after verification.
To undergo verification, submit your ID and photo, a quick process if done accurately. For business verification, you need to submit the company documents, and after verification, the withdrawal limit is also $3 million.
Similar to Bitget, signing up with Gate.io is as easy as pie. All you have to do is enter your email and verification code, and you are good to go.
Beyond signup, users must undergo identity verification to trade, deposit, and withdraw on Gate.io. Gate.io features three KYC levels, and it is strongly recommended that you complete this process promptly upon signing up to ensure a smooth joining process.
Levels 1 and 2 of KYC require details like nationality, country of residence, first and last name, ID number, and a device capable of capturing your ID and recognizing your face. As for Level 3 KYC verification, you must verify your address by submitting recent documents like bank statements or utility bills.
Considering the signup ease and KYC verification, Bitget is a clear winner compared to Gate.io since it doesn’t make KYC verification compulsory. In contrast, you can’t trade on Gate.io without completing the KYC verification.
Bitget vs Gate.io Products, Services & Features
Bitget and Gate.io differ in their product offerings, services, and features. Notably, Bitget provides various functionalities, including leveraged trading options with a maximum leverage of 125x.
Bitget also offers staking opportunities with Annual Percentage Rates (APRs) ranging from 4% to 22%, accommodating various risk tolerances. Additionally, its native BGB token comes with a redeemable eight-day grace period, enhancing user flexibility and further distinguishing Bitget in the market
Compared to Bitget, Gate.io features the most extensive range of earning products for traders looking for passive income-generating options. This includes popular finance and earning products like Cloud Mining, Liquid Mining, Staking Lend & Earn etc.
Moreover, diversifying from staking to lending, Gate.io provides various avenues to increase your crypto holdings without requiring constant market monitoring.
In this category, Bitget is slightly ahead due to its decided percentage of APRs and a more defined APRs policy.
Bitget vs. Gate.io Trading Fees
Bitget applies a 0.02% fee for makers and a 0.06% fee for takers in futures trading without offering discounts. In spot trading, both the maker and taker fee is 0.1%.
Besides this, Bitget’s VIP program allows traders to use BGB and enjoy a direct 20% discount on spot fees. Moreover, those engaged in DeFi activities can capitalize on staking rewards, adding an extra advantage. This comprehensive strategy increases the advantages available to users within the Bitget platform.
On the other hand, Gate.io takes pride in being a highly cost-effective cryptocurrency exchange. It features a feeless trading experience on selected spot market pairs, enabling seamless buying and selling of digital assets. Standard spot pair fees are set at 0.2% for both maker and taker.
Moreover, futures trading fees are impressively low at 0.015% maker and 0.05% taker. But, once your 30-day futures trading volume increases, the fees can drop to 0% maker and 0.02% taker, with remarkably accessible fee reduction requirements – a mere $60,000 traded in 30 days.
Holding Gate.io’s native token (GT) also grants a 25% fee discount, with the potential for a maximum 70% discount.
Bitget vs Gate.io Deposit Methods
Besides the free cryptocurrency deposits offered by Bitget, users can choose to deposit fiat currencies exclusively through wire transfers. For this, the platform accepts various payment methods, including debit cards, credit cards, Apple Pay, and Google Pay.
Furthermore, Bitget supports over 400 cryptocurrencies and trading pairs, covering many assets such as Bitcoin, Litecoin, BGB, Ethereum, and more. Notably, Bitget does not levy any fees for cryptocurrency deposits, providing users with a cost-effective way to fund their accounts
Gate.io, on the other hand, ensures that crypto deposits come at no cost. However, completing identity verification before adding funds to your Gate.io account is crucial. Regarding FIAT deposits and withdrawals on Gate.io, purchasing cryptocurrencies using a credit card or bank account is an option.
However, be cautious, as third-party payment providers often impose high fees for credit card transactions. While bank transfers may be slower, they offer a more cost-effective alternative. Notably, Gate.io does not support FIAT withdrawals.
Bitget vs. Gate.io Withdrawal Methods
Bitget supports withdrawals for 150+ cryptocurrencies and allows fiat withdrawals in EUR, GBP, RUB, UAH, and BRL. Moreover, new Bitget accounts have a daily withdrawal limit of 20 BTC, increasing to 200 BTC for verified accounts.
Remember that even when Bitget doesn’t make KYC verification mandatory to begin trading, you will have to complete KYC verification for copy trading, crypto purchases, and withdrawals exceeding 20 BTC on the platform.
While the withdrawal fees on the platform vary, they are generally reasonable. While BTC withdrawals incur a 0.0000051 BTC fee, ETH withdrawals have a 0.0001 ETH fee, and USDT withdrawals have a minimal 0.1 USDT fee.
Withdrawals on Gate.io also have a fee that varies depending on the chosen crypto and network. Each coin has its own unique fee structure.
For instance, sending USDT through the TRC20 network is one of the most economical options, with fees ranging from $0.5 to $1. Your withdrawal limit, ranging from $2,000,000 (KYC2) to $8,000,000 (KYC3) worth of cryptocurrencies per day, is determined by your KYC level.
Bitget vs Gate.io Security
Security is Bitget’s topmost priority, demonstrated through its establishment of the Bitget Protection Fund, which is dedicated to the continuous safeguarding of your assets. This commitment is evident through the presence of both hot and cold wallets, coupled with two-factor security authentication, ensuring SSL maintains the highest standards of excellence.
Remarkably, our investigations also reveal that Bitget has maintained a hack-free track record since the establishment of the platform. Adding to its security measures that have helped prevent hacks, the platform pledges to reserve 100% of user assets.
Bitget also commits to releasing monthly reports containing Merkle Tree proofs, platform reserves, and platform reserve ratios, covering BTC, USDT, and ETH.
Some additional security measures implemented by Bitget include:
- Two-factor authentication (2FA) via Google, SMS, and email authentication,
- Anti-phishing code
- Fund password.
- Withdrawal password.
Similar to Bitget, Gate.io has also never been hacked. Though a third-party service was exploited in 2018, no funds were lost. Regarding security, the platform promises to safeguard all user assets, ensuring 100% reserve.
Additionally, it commits to providing monthly reports that include Merkle Tree proofs, platform reserves, and reserve ratios for BTC, USDT, and ETH. The fund password, acting as an additional layer of protection, safeguards financial transactions.
Whitelisted addresses also enhance security by allowing only pre-approved destinations for withdrawals. Authorized Devices restrict account access to designated gadgets, adding an extra security check. SMS verification further fortifies the authentication process, ensuring a secure trading environment.
These multifaceted security features collectively contribute to the high level of protection and trustworthiness offered by Gate.io. Some more notable security features implemented by Gate.io include:
- Fund password
- Two-factor authentication (2FA) via Google, SMS, and email authentication
- Anti-phishing code
Both exchanges offer robust security. However, Bitget is a little ahead by offering a withdraw password option.
Bitget vs Gate.io Which Exchange Wins?
In evaluating Bitget versus Gate.io, it can be difficult to determine which exchange is a clear winner. It’s mainly because these well-established platforms have resemblances linked to their trading approaches, fee structures, asset diversity, security measures, and customer assistance.
But, if we had to choose one, Bitget would lead for its remarkable features like 125x leverage, a consistent daily trading volume surpassing $7.8 billion, support for various fiat currencies, a robust security infrastructure, and a hack-free track record.
While being one step behind, Gate.io is also a worth-considering platform that excels in traditional finance trading, especially for investors looking for a diverse range of passive-earning options. Not to mention its 100x leverage and over $7 billion daily trading value.
Ultimately, we suggest you consider your specific trading preferences alongside these factors to better decide which platform is best for you!
