Bitmart vs Gate.io | We Show You Which Exchange Is Better
Jack Moreau
Apr 2024
9 min read
Fact checked
Bitmart vs Gate.io: We have compared these two exchangesacross a variety of key metrics from KYC requirements, product offering, supported cryptocurencies and features, as well as trading fees and deposit methods. Keep reading to see which exchange is the better fit for your needs!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bitmart and Gate.io are both popular cryptocurrency exchanges that offer users a wide range of trading options and features. Founded in 2017 by Erte Xia, Bitmart is based in the Cayman Islands and has over 300 employees.
Bitmart exchange
Bitmart is available in 180 countries but is restricted in countries like the US, UAE, Philippines, and Turkey. Bitmart provides diversified system functions, including spot trading, futures contract trading, margin trading, and over-the-counter trading.
Bitmart supports over 750 cryptocurrencies, and its platform is used by over 9 million users worldwide. The Bitmart app has been downloaded over 1 million times and has a 3.5-star rating based on 40,000 reviews.
Founded in 2013 by Lin Han, Gate.io is headquartered in the Cayman Islands and has a workforce of over 350 employees. The exchange is available in 184 countries but is restricted in the US and Canada, with product limitations for users in the UK, France, Netherlands, Germany, and Italy.
Gate.io exchange
Gate.io offers a variety of services, including spot trading, margin trading, futures, and options trading. The platform supports an extensive range of over 1000 cryptocurrencies, and it has over 12 million users around the world.
Gate.io is available on Android and IOS and has been downloaded over 1 million times, with a solid rating of 4.4 stars based on over 40,000 reviews.Both Bitmart and Gate.io provide users with a range of trading options and access to a large selection of cryptocurrencies.
Gate.io app
Bitmart vs Gate.io Signup & KYC
Bitmart and Gate.io are two popular cryptocurrency exchanges with their own unique signup and KYC verification processes. Let's take a closer look at how they compare.
Bitmart requires users to complete KYC verification for full access to spot and futures trading, but basic deposits, buying, selling, and withdrawing less than 0.06 BTC per day can be done without KYC.
Bitmart signup & KYC
The signup process is smooth and straightforward, with only email and password being required. Once the account has been opened, users must upload ID verification and additional information for KYC. It can take up to 24 hours before the verification is approved.
On the other hand, KYC verification is mandatory for both depositing and withdrawing crypto and fiat currencies on Gate.io. Opening an account with Gate.io is a swift process, and the signup takes less than a minute to complete.
Gate.io KYC
The KYC verification process usually takes a few hours to 24 hours in most cases.Overall, both Bitmart and Gate.io have easy signup processes, but Bitmart offers more flexibility for users who don't want to complete KYC for basic transactions.
Bitmart vs Gate.io Products & Services
Bitmart provides access to a wide range of trading services including spot trading and margin trading for over 750 cryptocurrencies and altcoins.
Bitmart spot trading
The exchange also offers more advanced trading products such as futures and perpetual trading where users have access to 100s of perpetual contracts.
Bitmart Crypto Products
Bitmart offers leverage of up to 125X in both cross and isolated positions for those that wish to trade perps and up to 5X leverage for those that want to margin trade.
For beginners that are just starting out, Bitmart also offers copy trading where users can easily replicate the trade of professionals with a proven track record.
Bitmart Copy Trading
Besides trading products, Bitmart also offers additional products such as earn opportunities for idle digital assets, staking, their own launchpad as well as an NFT marketplace.
Bitmart NFTs
The user experience on Bitmart is quite good, with a website that is easy to use and a variety of products and services available without overwhelming the user.
The exchange also offers a good level of liquidity, with average daily spot trading volumes exceeding $550 million.
On the other hand, Gate.io has emerged as a prominent exchange known for its ever-expanding and evolving range of services.
A key attraction for many users to Gate.io has been its spot trading feature. This allows users to trade a vast array of over 1700 cryptocurrencies.
Gate.io Spot Trading
Gate.io stands out for its proactive approach in adding a variety of altcoins, thereby attracting a significant number of beginners eager to discover lucrative new cryptocurrencies.
Gate.io Crypto Markets
For traders interested in leveraging their investments, Gate.io offers margin trading with the option of up to 10X leverage on hundreds of cryptocurrencies.
This feature allows traders to potentially amplify their profits, albeit with a corresponding increase in risk. Additionally, Gate.io provides ETF leveraged tokens for those who wish to take long or short positions with up to 5X leverage.
Gate.io Leveraged Tokens
These tokens eliminate the need for traditional margin requirements and thereby also removing the risk of liquidation. Users of these ETF leveraged tokens are subject to a 0.1% daily fee.
Gate.io Leveraged ETFs
Like many offshore exchanges, Gate.io has ventured into futures trading which involves the trading of hundreds of perpetual contracts with options for isolated or cross margin mode, and leverage up to 125X.
Gate.io Perpetual Trading
This high level of leverage is particularly appealing to professional traders who are comfortable with high-risk, high-reward trading scenarios.
In addition to these features, Gate.io offers European-style Vanilla Options for popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
Gate.io Options Trading
For beginners or those who prefer a guided approach, Gate.io has implemented copy trading. This feature allows less experienced traders to replicate the trades of professional traders.
Gate.io Copy Trading
Moreover, the platform also caters to those who prefer automated trading strategies with various trading bots available such as spot and futures grid, infinity and margin grid, martingale, and rebalancing.
Gate.io Trading Bots
In terms of trading volumes, Gate.io has secured a significant position in the market and ranks in the top 3 for 24-hour spot trading with nearly $8 billion in trading volumes, and in the top 30 for derivatives volumes with $3 billion.
Gate.io Trading Volumes
Beyond trading, the earn section of Gate.io provides a lot of opportunities for earning yield on digital assets. This includes products like lend & earn, hodl & earn, dual investments, and staking, with flexible terms depending on the asset.
Gate.io Earn
In the hodl & earn section, users can lock assets such as BTC, ETH, and USDT to earn attractive Annual Percentage Rates (APRs) over different lockup periods. Additionally, users have the option to stake their ETH and earn up to 4.4% in ETH rewards APR.
Gate.io Staking
For those who wish to use their cryptocurrencies for everyday transactions, Gate.io offers the Gate.io Visa card, which provides up to 1% cashback on spending.
Gate.io Card
Keeping pace with the evolving crypto market, Gate.io has launched its own Web 3 Wallet which supports non-custodial access to 29 blockchains including Bitcoin, Ethereum, Solana, and others.
Gate.io Web 3 Wallet
Gate.io also caters to the needs of wealthier individuals and institutional clients with more sophisticated products such as custody solutions, Over-The-Counter (OTC) trading, VIP loans, and broker programs.
When it comes to trading fees, Bitmart and Gate.io are two exchanges that have caught the attention of many traders. Let's take a closer look at what each of these exchanges has to offer.
Starting off with Bitmart, their fees are pretty standard across the board. They charge a spot maker fee of 0.10% and a spot taker fee of 0.10%.
Bitmart Spot Fees
For futures trading, their maker fee is 0.02% and their taker fee is 0.06%. This can be a big plus for traders who want to maximize their profits.
On the other hand, Gate.io's fees are slightly higher. They charge a spot maker fee of 0.20% and a spot taker fee of 0.20%. For futures trading, their maker fee is 0.02% and their taker fee is 0.05%.
Gate.io Spot Fees
However, Gate.io does offer a way for traders to lower their fees. If monthly trade volumes exceed $60,000 or if users hold enough GT tokens, they can enjoy lower trading fees.
Bitmart and Gate.io are two popular cryptocurrency exchanges that offer different deposit methods for their users. Bitmart supports a whopping 42 fiat currencies, including USD, EUR, CAD, AUD, and more.
However, bank deposits are not available on Bitmart. Instead, users can make fiat deposits with Moonpay, which charges a 3.5% fee, or Simplex, which charges a 5% fee.
On the other hand, Gate.io does not support any fiat deposits, meaning users can only deposit cryptocurrencies. However, instant purchases with credit/debit cards are available via MoonPay, Banxa, Advacash, and Simplex.
It's worth noting that these credit card fees can range from 2-5%, making it a more expensive option for depositing funds.
So while Bitmart and Gate.io support a wide range of fiat currencies, users can only deposit funds through third-party providers, which can be costly.
Bitmart and Gate.io are two cryptocurrency exchanges with different policies on fiat withdrawal methods.
Bitmart does not offer fiat withdrawals and only cryptocurrencies can be withdrawn from the exchange. Bitmart charges a 0.0005 BTC fee to withdraw Bitcoin, 0.0026 ETH fee, 0.05 SOL fee, and a 5.4 USDT fee for withdrawals.
Although Bitmart does not offer fiat withdrawals, it is important to note that their cryptocurrency withdrawal fees are relatively low compared to other exchanges.
Gate.io, on the other hand, may not be the best option for users who want to withdraw fiat currencies as it is not available on the exchange. Users can only withdraw cryptocurrencies with different fees depending on the blockchain.
For example, Gate.io charges a 0.001 BTC fee for Bitcoin withdrawals, 0.0019 ETH fee for Ethereum, 0.003 SOL fee for Solana and a 3 USDT fee for Tether withdrawals.
In conclusion, both Bitmart and Gate.io offer a variety of services, including spot trading, margin trading, futures, and options trading, staking, and NFT marketplaces.
However, there are some key differences between the two exchanges that users should consider before choosing which one to use.
When it comes to the number of cryptocurrencies supported, Bitmart offers over 750 while Gate.io supports double that amount with over 1500 cryptocurrencies.
Additionally, Bitmart allows users to complete basic transactions without completing KYC verification, while Gate.io requires KYC verification for both depositing and withdrawing crypto and fiat currencies.
Both exchanges offer good liquidity and leverage options for traders, with Bitmart having a better user experience and Gate.io providing more advanced derivatives products.
Regarding trading fees, Bitmart charges a spot maker fee of 0.10% and a spot taker fee of 0.10%, while Gate.io charges a spot maker fee of 0.20% and a spot taker fee of 0.20%.
However, Gate.io offers a way for traders to lower their fees by hitting monthly trade volume targets or holding enough GT tokens.
When it comes to deposit methods, neither Bitmart nor Gate.io support fiat deposits besides the ability to buy and sell crypto via third-party providers. This is however a more expensive way to acquire cryptocurrencies.
As such, Bitmart is the better choice for users who prioritise a wide range of cryptocurrencies, flexible KYC verification, and lower cryptocurrency withdrawal fees.
On the other hand, Gate.io is more who prioritise advanced derivatives products and over 1500 altcoins.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
