Is Gate.io or Binance the better exchange for beginners? Both exchanges offer similar services such as margin trading, stop losses, and advanced order types. They also both support multiple cryptocurrencies.
Binance was founded in 2017 by Changpeng Zhao (CEO/founder). Their mission is to become the premier global cryptoasset exchange. The company has offices in over 38 countries including, Sweden, Japan, Germany, Spain, USA, Isreal, and France.
Gate.io was founded in 2013 and it has its office based in George Town, KY. The company focuses on user experience and safety when it comes to cryptocurrency. The Company has strived to provide its users with the best trading experience in the last 8 years.
Table Of Contents
- Gate.io Vs Binance: Supported Coins
- Gate.io Vs Binance: Types Of Transactions Supported
- Gate.io Vs Binance: Trading Fees
- Gate.io Vs Binance: Security Features
- Gate.io Vs Binance: Staking Rewards
- Gate.io Vs Binance: Supported Languages
- Gate.io Vs Binance: Support Contact
- Gate.io Vs Binance: Pros and Cons
- Gate.io vs Binance: Conclusion
Gate.io Vs Binance: Supported Coins
Gate.io supports over 1,200 cryptocurrencies, meaning you should find most coins you’re interested in buying there.
Top coins include:
Binance is well-known for its massive altcoin list, with more than 500 choices available to non-U.S. users. However, the Binance.US exchange only supports 60 coins. Depending on your location, Binance offers over 70 to 650 cryptocurrency pairs.
Top Coins Include:
- Binance Coin
- Shiba Inu
- Ethereum Classic
- Stellar Lumen
- Bitcoin Cash
- Basic Attention Token
Gate.io Vs Binance: Types Of Transactions Supported
Gate.io supports spot and margin trading. You can place limit orders or conditional orders. Trading interfaces are intuitive and easy to use.
Binance supports limit order, market order, stop-limit order, trailing stop order, post only order, peer-to-peer trading, margin trading, one-cancels-the-other order, and more.
Binance has become a global crypto currency exchange with over 10 million users. It offers a wide range of features including margin trading, lending, futures contracts, and more.
Gate.io Vs Binance: Trading Fees
Both Gate.io and Binance charge trading fees from their customers. However, they have different approaches.
Gate.io Trading Fees
|Tier||Meet trading volume + GT holding requirements 30-day Volume/GT holding||GT Holding Only GT holding||Total Holdings (Account Value)||Maker Standard fee/GT debit||Taker Standard fee/GT debit|
|VIP 0||1.5 BTC / 0 GT||0 GT||0 BTC||0.2% / 0.15%||0.2% / 0.15 %|
|VIP 1||1.5 BTC / 20 GT||100 GT||0.05 BTC||0.185% / 0.139%||0.195% / 0.146 %|
|VIP 2||3 BTC / 50 GT||300 GT||0.1 BTC||0.175% / 0.131%||0.185% / 0.139 %|
|VIP 3||6 BTC / 200 GT||1000 GT||0.25 BTC||0.165% / 0.124%||0.175% / 0.131 %|
|VIP 4||12.5 BTC / 500 GT||2500 GT||0.5 BTC||0.155% / 0.116%||0.165% / 0.124 %|
|VIP 5||25 BTC / 1000 GT||5000 GT||1 BTC||0.145% / 0.109%||0.155% / 0.116 %|
|VIP 6||75 BTC / 2000 GT||12000 GT||2.5 BTC||0.135% / 0.101%||0.145% / 0.109 %|
|VIP 7||200 BTC / 5000 GT||25000 GT||5 BTC||0.125% / 0.07%||0.135% / 0.101 %|
|VIP 8||500 BTC / 10000 GT||50000 GT||10 BTC||0.115% / 0.06%||0.125% / 0.094 %|
|VIP 9||1250 BTC / 20000 GT||120000 GT||25 BTC||0.105% / 0.05%||0.115% / 0.086 %|
|VIP 10||2500 BTC / 40000 GT||250000 GT||50 BTC||0.095% / 0.04%||0.105% / 0.058 %|
|VIP 11||3000 BTC / 50000 GT||500000 GT||100 BTC||0.085% / 0.01%||0.095% / 0.045 %|
|VIP 12||6000 BTC / 50000 GT||1000000 GT||200 BTC||0.075% / 0.005%||0.085% / 0.037 %|
|VIP 13||11000 BTC / 50000 GT||2000000 GT||400 BTC||0.065% / 0%||0.075% / 0.03 %|
|VIP 14||20000 BTC / 50000 GT||4000000 GT||750 BTC||0.055% / -0.005%||0.065% / 0.025 %|
|VIP 15||40000 BTC / 50000 GT||1500 BTC||0.055% / -0.0075%||0.065% / 0.022 %|
|VIP 16||75000 BTC / 50000 GT||2500 BTC||0.055% / -0.01%||0.065% / 0.02 %|
Binance Trading Fees
|Less than $50,000||0.10 percent||0.10 percent|
|$50,000 – $100,000||0.09 percent||0.09 percent|
|$100,000 – $500,000||0.08 percent||0.09 percent|
|$500,000 – $1 million||0.07 percent||0.08 percent|
|$1 million – $5 million||0.05 percent||0.07 percent|
|$5 million – $10 million||0.04 percent||0.06 percent|
|$10 million – $25 million||0 percent||0.06 percent|
|$25 million – $100 million||0 percent||0.05 percent|
|$100 million – $250 million||0 percent||0.04 percent|
|$250 million – $500 million||0 percent||0.03 percent|
|$500 million and up||0 percent||0.02 percent|
Gate.io Vs Binance: Security Features
Security features are a major concern for every investor, especially when dealing with money. When looking at security measures taken by each exchange, some of them are really impressive.
For example, Gate.io uses top-notch 2FA authentication that secures all transactions using Google Authenticator. It then sends an SMS text message to confirm each transaction. This way, hackers cannot steal someone’s account without getting access to the phone number associated with the account.
Binance uses two-factor authentication (2FA) for user login. Users must provide an additional verification method besides username/password combination. This includes hardware, app-based, SMS or email methods. Advanced access controls allow users to restrict API access by IP addresses and wallets.
In addition, both Gate.io and Binance use SSL encryption to secure sensitive data before sending it to servers. All data stored on the exchanges’ systems is protected by Secure Sockets Layer (SSL), which encrypts information between their users and server. This prevents hackers from intercepting information as it travels over networks.
|Two factor authentication||Yes||Yes|
Gate.io Vs Binance: Staking Rewards
Blockchains provide incentives for people to participate in their networks. Participants receive rewards for verifying blocks. Once they’ve staked their coins, they’re given an opportunity to validate a transaction.## Inputs If they are chosen, they receive the rewards of that block.
Gate.io HODL & Earn offers users many ways to make passive income by just holding cryptocurrency. Users can lock up their cryptocurrencies for a certain period of time and receive interest or principal payment when the term expires. Users can also stake their cryptocurrencies for an additional amount of interest every day.
Binance offers several ways to stake your cryptocurrency. Here’s a breakdown:
1. DeFi Staking
DeFi staking is risky, but Binance vets its DeFi stakers to minimize risk when staking. While DeFi staking on the Binance platform has high returns, there is always some risk because Binance isn’t responsible for smart contract security issues.
2. ETH 2.0 Staking
You can use the ETH 2.0 Staking feature to stake your Ether for long term and receive rewards. You will receive BETH tokens for your ETH. BETH can perform any actions that ETH can do. You can even exchange ETH for an equal amount of BETH. The interest rates you earn from stashing your ETH on the ETH 2.0 staked feature vary depending on how many other people are staking at the moment.
3. Locked Savings
You can lock your funds on Binance exchange for varying rates depending on how long it stays there. For example, if your account is locked for 7 days, you’ll get 4.5% interest. If you lock your funds for 90 days, you can get up to 5.1% interest.
4. Binance Vault
You can lock up some BNB and earn an APY (Annual Percentage Yield). The APY is calculated based on the existing earnings opportunities on Binance. The Binance Vault functions more like an investment manager that invests your funds in a way that guarantees them to earn interest.
Staking on Binance offers many different options for investors. These include considering all available options, and assessing the level of risk associated with each option. Higher yielding options are more risky, whereas lower yields are less risky. Flexible savings offer daily rewards, which are lower than locked savings. With locked savings, you get higher interest rates than with flexible savings.
Gate.io Vs Binance: Supported Languages
Gate.io can be used inEnglish, Portuguese, German, French, Spanish, Italian, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese, Turkish and Thai.
Binance Can be used English, Portuguese, German, French, Spanish, Italian, Korean, Russian, Traditional Chinese, Simplified Chinese, Dutch, Vietnamese, Turkish, Indonesian, Filipino, Polish, Slovene, Ukrainian and Bulgarian.
Both Gate.io and Binance support multiple languages. So, whichever language you prefer, you will be able to use the platform easily.
Gate.io Vs Binance: Support Contact
Gate.io Vs Binance: Pros and Cons
|Multiple Cryptocurrencies Available||Vulnerable to hacking|
|24/7 Customer support||No fiat deposits|
|Easy to Use|
|Low Fees||The platform can be confusing for beginners|
|Many trading options|
|It supports Peer-to-Peer (P2P) trading|
|Various payment methods supported|
Gate.io vs Binance: Conclusion
Overall, I believe that Binance is a better choice than Gate.io. Both platforms have advantages and disadvantages, but each platform has its own unique features. You should choose the platform based on your needs. Do you want to invest in cryptocurrencies or trade them? Are you looking for a secure place to store your cryptocurrency? Or maybe you just want to make some extra money by investing in a promising project?
I hope this article helped you decide whether Gate.io or Binance is right for you!
In case you have any questions regarding this comparison, please leave a comment below.
Thank you for reading!