Gate.io Exchange – Buy and Sell XMR Monero

Operated by Gate Technology Inc., Gate.io is a US-based exchange platform, available in English and Chinese. Offering low trading and withdrawal fees, along with a nice platform layout, it is a nice alternative exchange to other major ones, such as Hitbtc, Bittrex, Binance, and Cryptopia.

Gate.io Homepage

GET STARTED WITH GATE.IO

Along with Captcha verification, Gate also requires an additional Fund Password, used when trading and withdrawing. It is adding further security, which is very important when dealing with crypto exchanges.

gate.io Signup

After activating your account, you will then be redirected to the dashboard. Notice that apart from the common trading markets (BTC, ETH, USDT), Gate offers the QTUM Markets option as well.

A few words about QTUM:

“Combining a modified Bitcoin Core infrastructure with an inter-compatible version of the Ethereum Virtual Machine (EVM), Qtum merges the reliability of Bitcoin’s unfailing blockchain with the endless possibilities provided by smart contracts.Designed with stability, modularity, and interoperability in mind, Qtum is the foremost toolkit for building trusted decentralized applications, suited for real-world, business oriented use cases. Its hybrid nature, in combination with a first-of-its-kind PoS consensus protocol, allows Qtum applications to be compatible with major blockchain ecosystems while providing native support for mobile devices and IoT appliances.”

gate.io QTUM

For an experienced trader, QTUM can provide some further opportunities when it comes to watching the trading market every day. The same way one would look into USDT as a trading instrument, QTUM can be used in the same way.

DEPOSITING / WITHDRAWING

Under the “Wallets” section, you can deposit and withdraw cryptocurrency. You can use any of the listed currencies but, in our case, it is better to use BTC, ETH, or USDT when looking to buy Monero (XMR). For depositing, choose the respective currency “Deposit” box and wait for the transaction to be completed, after sending the amount to the provided address. For withdrawing, type in the respective external wallet address, and send the desired amount to that address.

gate.io Currencies

BUYING / SELLING MONERO (XMR)

When looking to buy Monero or any cryptocurrency for that matter, you almost always come across the same page layout in every change. The only thing that changes is the chart, as each exchange doesn’t hold the same volume of coins. You first need to pick a trading instrument, meaning the currency you’re going to use to acquire Monero. Pictured in the image above, we have picked Bitcoin (BTC). After depositing some Bitcoin (BTC) to our Gate Wallet, we are now good to buy Monero (XMR).

gate.io Buying & Selling Monero

Under the “Buy XMR” section, type in the amount of Monero you want to buy. After that order is filled, you should be able to view that amount in your account balance. The same thing applies to selling. Based on your balance, you can sell that amount using the “Sell XMR” section.

Gate.io FEES

Gate.io does not charge any fees for depositing. As far as trading is concerned, there is a flat 0.2% charge, which is typical for other exchanges as well. Withdrawal fees vary for each coin, but they’re in no way higher than what one might have come across already.

PROS

  • Offline Bitcoin Wallet Technology
  • Two-factor authentication
  • Low Fees
  • Extra security
  • Good Deposit / Withdrawal processing

CONS

  • More coins could be listed
  • Low volume supply
  • Relatively new
  • Does not accept FIAT currencies
  • No leveraged trading provided

CONCLUSION

All in all, Gate.io offers for a great exchange, which is also based in the United States. They offer great security, along with low trading/withdrawing fees. That is not to say that further improvements could not be added though; there could be more coins listed, as well as trading options such as margin/leverage trading. But it is a relatively new exchange platform; we think it already provides for an excellent trading experience.

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