Today, we’re comparing two of popular crypto platforms – Gate.io and Binance. We’ll be breaking down the key aspects of each exchange to help you with your decision on which one of the two suits you better.
Let’s do this!
In case though you need more tested exchanges to trade crypto on, check them out here.
|Founder||Lin Han||Changpeng Zhao|
|Specialization||Altcoin trading||Variety of services|
Gate.io, founded in 2013 by Lin Han, has established itself as a leading platform for altcoin trading. Meanwhile, Binance, founded in 2017 by Changpeng Zhao, offers a wide variety of services beyond just trading, including staking, futures, and lending. Both exchanges boast intuitive and user-friendly interfaces that cater to both new and experienced traders.
Gate.io Pros and Cons
- Wide selection of altcoins
- Intuitive user interface
- Competitive trading fees
- Limited fiat deposit options
- Not available for US users
- Smaller trading volume compared to Binance
Binance Pros and Cons
- High liquidity and trading volume
- Variety of services and features
- Multiple fiat deposit and withdrawal options
- Regulatory issues in some jurisdictions
- Complex fee structure for some services
- Occasional system overloads during peak times
Who is Gate.io right for?
- Every altcoin enthusiasts
- Those looking for a simple and easy-to-use platform
Who is Binance right for?
- High-volume traders
- Users seeking diverse trading services
- Traders who require multiple fiat deposit and withdrawal options
In the general overview, Binance has a slight edge due to its higher trading volume, diverse services, and multiple fiat options. However, Gate.io remains a strong contender for altcoin enthusiasts and those seeking lower fees.
User Experience and Interface
|Customer Support||Email, Live Chat||Email, Live Chat|
Both Gate.io and Binance provide an intuitive web interface and mobile app, making it easy for users to navigate and trade on their platforms. Customer support for both exchanges is available through email and live chat.
Both exchanges offer a comparable user experience, so it’s a draw in this category.
Trading Pairs, Liquidity, and Volume
|Trading pairs||Over 1400||Over 650|
|Trading Volume||Lower than Binance||Highest in the market|
Gate.io offers over 1400 trading pairs which is the most we’ve seen on any exchange so far. More than even Binance’s 650+ pairs.
Binance on the other hand has significantly higher liquidity and trading volume. This one is close, but we give it to Gate.io because of the jaw dropping number of coins to trade.
Despite having fewer trading pairs, Binance’s higher liquidity and trading volume give it the advantage in this category.
Binance and Gate Fees and Leverage Info
|Leverage options||Up to 10x||Up to 125x|
Gate.io has a flat trading fee of 0.20% for both maker and taker orders, while Binance offers a lower fee of 0.10%. Both exchanges have varying withdrawal fees depending on the cryptocurrency. Binance provides leverage options up to 125x, significantly higher than Gate.io’s 10x leverage.
Binance’s lower trading fees and higher leverage options make it the more attractive choice for cost-conscious traders.
Security and Compliance
|Security Fund||Yes||Yes (SAFU fund)|
|Real-Time Risk Management||Yes||Yes|
Both Gate.io and Binance prioritize security, with features such as two-factor authentication, cold storage, security funds, address whitelisting, real-time risk management, asset segregation, and secure infrastructure in place. However, Binance takes it a step further by offering an anti-phishing code feature that helps protect users from phishing attacks.
Winner: Binance. While both exchanges have robust security measures, Binance’s addition of the anti-phishing code gives it a slight edge in this category.
Deposit and Withdrawal Options
|Fiat Deposit Options||Limited||Multiple|
|Withdrawal Options||Crypto and limited fiat||Crypto and multiple fiat|
Gate.io offers limited fiat deposit options, while Binance supports multiple fiat currencies for deposits and withdrawals. Both exchanges allow deposits and withdrawals in various cryptocurrencies.
Binance’s support for multiple fiat deposit and withdrawal options makes it more accessible for users worldwide.
Trading Tools and Features
|Token Launch Platform||Yes||Yes|
|Advanced trading tools||Yes||Yes|
|Unique features||Perpetual contracts insurance||Binance Earn, Binance Launchpad, Binance NFT Marketplace|
Both Gate.io and Binance offer a comprehensive suite of trading tools and features, including mobile apps, API support, margin trading, perpetual contracts, staking, and token launch platforms. Additionally, both exchanges provide advanced trading tools for professional traders. Binance offers unique features such as Binance Earn, Binance Launchpad, and Binance NFT Marketplace, while Gate.io has perpetual contracts insurance.
Winner: Binance. Binance’s wider range of unique features makes it the more versatile and feature-rich platform.
|Deposit fees||By card 1,8%; minimum deposit 15 EUR|
|Cryptocurrencies||650+||Payment methods||Crypto, Visa, MasterCard|
|Number of users||30.000.000+|
|Deposit fees||Debit card 2-3%|
|Trading fees||0.145% - 0.2%|
|Cryptocurrencies||+1400||Payment methods||Crypto, debit and credit cards, bank transfer, Banxa, SEPA, Apple Pay, Google Pay|
|Number of users||10.000.000+|
The comparison between Gate.io and Binance, two popular crypto trading platforms, reveals several key differences and similarities. Binance, founded in 2017 by Changpeng Zhao, offers a wider array of services, including staking, futures, and lending, and has significantly higher liquidity and trading volume. Its trading fees are lower than Gate.io’s, it provides up to 125x leverage compared to Gate.io’s 10x, and it supports multiple fiat deposit and withdrawal options. Binance also offers more unique features like Binance Earn, Binance Launchpad, and Binance NFT Marketplace.
On the other hand, Gate.io, established in 2013 by Lin Han, is renowned for altcoin trading, boasting over 1400 trading pairs, and offers a competitive and flat trading fee for both maker and taker orders. However, it has limited fiat deposit options, is not available for US users, and has a smaller trading volume compared to Binance.
Both platforms are user-friendly with intuitive web interfaces and mobile apps, offer robust security measures, and provide comprehensive trading tools and features. However, Binance holds a slight edge in security due to its anti-phishing code feature.
In conclusion, while Binance appears to be the better platform overall due to its wider services, lower fees, and higher liquidity, Gate.io remains a preferred choice for altcoin enthusiasts and those seeking a simple platform.
So Binance or Gate.io Exchange is Better in 2023?
Which exchange has lower trading fees?
Binance has lower trading fees (0.10%) compared to Gate.io (0.20%).
Which exchange offers more trading pairs?
Gate.io offers more trading pairs with over 1400 trading pairs, while Binance has over 650.
Which exchange has higher liquidity and trading volume?
Binance has significantly higher liquidity and trading volume than Gate.io.
Are both exchanges secure and compliant?
Yes, both Gate.io and Binance prioritize security and compliance with industry standards.
Which exchange is better for altcoin trading?
Gate.io is well-known for its wide selection of altcoins, making it a preferred choice for altcoin enthusiasts.