Bittrex vs Gate.io | Better Product Offering & Lower Fees?
Jack Moreau
Apr 2024
10 min read
Fact checked
Are you torn between Bittrex vs Gate.io? In this comprehensive comparison, we'll break down the pros and cons of each platform, including signup procedures, KYC requirements, country availability, trading fees, product offerings, and overall user experience. Read on to make an informed decision on which exchange is right for you!
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.
Bittrex and Gate.io are two popular cryptocurrency exchanges offering various digital assets, including Bitcoin, Ethereum, and other altcoins.
Bittrex was founded in 2014 and is a well-established and secure exchange known for its commitment to regulatory compliance and robust security measures.
Bittrex exchange
The platform offers a wide selection of cryptocurrencies and has over one million users worldwide. Additionally, Bittrex supports over 400 cryptocurrencies and has a solid 4-star rating on its Android app with over 10,000 reviews.
On the other hand, Gate.io, established in 2013, is a global cryptocurrency exchange offering a variety of services, including spot trading, margin trading, futures, and options trading.
The platform supports an extensive range of over 1000 cryptocurrencies, including Bitcoin, Ethereum, and numerous altcoins.
Gate.io exchange
Gate.io has over 12 million users worldwide, predominantly based in Europe and Asia. Moreover, Gate.io supports over 1500 altcoins and has over 1 million downloads on its Android app with a good rating of 4.4 stars based on over 40,000 reviews.
While both exchanges offer a wide variety of cryptocurrencies, Bittrex caters mainly to users in the US and Europe, while Gate.io has a more global footprint.
Furthermore, Bittrex is mainly focused on spot trading, while Gate.io offers various advanced trading options, including margin trading, futures, and options trading.
Bittrex vs Gate.Io Signup & KYC
When it comes to signing up for cryptocurrency exchanges, the KYC requirements can vary greatly. Let's take a closer look at Bittrex and Gate.io.
Bittrex requires KYC for all of its users, meaning that the signup process includes a full KYC verification in order to access any features. While the signup process may take 5-10 minutes, the ID verification process can take as little as 10 minutes, but can also take several days in the slowest cases.
On the other hand, Gate.io also requires KYC for both depositing and withdrawing crypto and fiat currencies, but the signup process takes less than a minute.
The processing time of KYC verification may be a few hours or up to 24 hours in most cases. So, while both exchanges require KYC verification, Gate.io offers a quicker signup process and verification time compared to Bittrex.
However, it's important to keep in mind that KYC verification times can vary depending on the volume of applications on any particular week.
Bittrex vs Gate.Io Products & Services
Bittrex is an exchange that offers a very limited range of products and services, such as spot trading and staking of cryptocurrencies like Cardano. Besides a limited product range, the user experience on Bittrex is also pretty uninspiring and basic.
It's also annoying that the signup process requires immediate KYC without having a chance to browse the features. It is thus not exactly surprising that Bittrex has an average daily spot trading volume of over $10 million.
In contrast, Gate.io is a versatile exchange that provides an extensive range of products for users, including spot and margin trading, as well as derivatives products like futures, perpetual swaps (perps), and options trading for more advanced strategies.
Gate.io offers liquidity in the top 20 category, with daily spot trading volumes in the range of $500-$900 million. Gate.io has a beginner-friendly design, making it easy to use for both professional traders and beginners.
They also offer staking, lending, borrowing, and a Gate card, making it easy for users to spend their cryptocurrencies in everyday transactions. Additionally, Gate.io offers futures leverage of 50X and 10X margin leverage for USDT, BTC, and ETH as underlying collateral.
While Bittrex may be limited in its offerings and weak in it's user experience, Gate.io provides a wide range of products and features that make it a more appealing exchange for both professional traders and beginners.
When it comes to trading fees, Bittrex charges a spot maker and taker fee of 0.75%, with trading fee rebates available for those whose trades exceed $25,000 during a 30-day period.
On the other hand, Gate.io charges a spot maker and taker fee of 0.20% and 0.20% respectively, with trading fee rebates available for those whose monthly trade volumes exceed $60,000 or who hold enough GT tokens.
As such, Gate.io's lower initial fees and potential for rebates based on monthly trade volumes or token holdings is a better fit for beginners and high volume traders looking to save on fees.
When it comes to depositing fiat currencies, Bittrex and Gate.io offer different options. Bittrex supports deposits in three fiat currencies USD, EUR, and GBP.
Fiat deposits can be made via wire transfer, bank transfer (ACH), SEPA, and credit/debit card. Bank deposits are free of charge while fiat deposits with credit/debit card incur a 3% fee.
On the other hand, Gate.io does not support deposits with any fiat currencies. Only cryptocurrency deposits are possible.
The exchange only supports instant purchase with credit/debit card via MoonPay, Banxa, Advacash, and Simplex. However, it's worth noting that these credit card fees are quite expensive, ranging from 2-5% transaction fee.
So if you're looking to deposit fiat currencies, you might want to go with Bittrex, while Gate.io could be a better option if you're comfortable with buying crypto with a credit/debit card.
Bittrex and Gate.io are two popular cryptocurrency exchanges, each offering their own unique set of withdrawal methods. Let's take a closer look at what options are available for users on these platforms.
Starting with Bittrex, users have a variety of options to withdraw their funds. Fiat withdrawals are available via Wire, ACH, SEPA, and Debit Card.
However, it's worth noting that Wire withdrawals incur a $25 fee while ACH and SEPA withdrawals are free of charge.
For cryptocurrency withdrawals, Bittrex charges a 0.01 ETH fee and a $2.6 USDT withdrawal fee. Withdrawing Bitcoin also comes with a fee of 0.005 BTC.
Overall, Bittrex provides a decent set of withdrawal options, but users should keep in mind the fees associated with some of these methods.
Moving on to Gate.io, the options for withdrawals are slightly more limited. Fiat withdrawals are not available on this platform, so users must rely on cryptocurrency withdrawals instead.
Gate.io charges a 0.0019 ETH withdrawal fee for those that want to withdraw Ethereum and a 3 USDT withdrawal fee for Tether USD.
Withdrawing Bitcoin incurs a fee of 0.001 BTC. So while Gate.io does not offer any fiat withdrawal options, it offers more cryptocurrencies that can be withdrawn at lower cost than Bittrex.
In conclusion, Bittrex is a very limited exchange both in terms of product and services, range of cryptocurrencies and with a poor user experience. In contrast, Gate.io has a global footprint and offers advanced trading options like margin and futures trading.
When it comes to KYC verification, Gate.io provides a quicker signup process and verification time compared to Bittrex. Gate.io also offers a more varied range of products and features, making it a more appealing exchange for both professional traders and beginners.
Besides offering more products and services than Bittrex, Gate.io also offers over 1500 cryptocurrencies compared to the 400 offered by Bittrex. And in terms of trading fees, Gate.io charges less than Bittrex with maker and taker fees of 0.2% compared to the 0.75% charged by Bittrex.
One advantage that Bittrex has over Gate.io is that it supports depositing fiat currencies, while Gate.io only allows cryptocurrency deposits, but offers instant purchases with credit/debit cards.
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.
