Gate.io and Coinbase are two famous cryptocurrency trading platforms that investors use for buying and selling cryptocurrencies for other assets. These platforms are usually secure and well-trusted, where traders are not required to transfer their assets to a third party. That's why there is no chance of the company being hacked, and traders are assured of protection against any fraud, hacking, or theft.
Here is a detailed comparison of Gate.io and Coinbase, two famous cryptocurrency exchanges. This comparison will paint a picture in your mind and help you decide which exchange will be more profitable and beneficial for you to trade on.
Gate.io is a feature-rich cryptocurrency exchange with over 1300 available cryptos. This platform offers advanced trading features and has reasonable trading fees. Gate.io is ideal for experienced traders looking to access cryptos that are hard to find.
In addition to normal spot trading, this exchange also provides access to limited customers of leveraged and future trading. The exchange also has an NFT Platform and also presents crypto interest-earning products. However, some of its advanced features are not in some countries, including the United States.
Gate.io operates in over 200 countries and deals in almost 50 fiat currencies. Covering so many countries, it is a fairly large crypto trading exchange. However, its lending products and margin trading are unavailable in the US, Canada, and Japan. In addition, some cryptocurrencies may be banned from this exchange.
The trading fee on Gate.io is 0.2%; however, there are various ways to reduce this fee, such as paying in Gate.io's utility token. However, it is not clear whether US citizens can use this platform. If so, it is still unclear in its regulatory authority in which states it is allowed to operate and which cryptocurrencies are restricted to US citizens.
Coinbase is a famous cryptocurrency trading platform. This platform allows investors to buy, sell and exchange cryptocurrencies. It provides you with over 100 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Coinbase is one of the large volume platforms having more than 98 million users and $256 billion in assets. Coinbase works in more than 100 countries, and its trade is almost $309 billion per quarter.
Initially, Coinbase was launched in 2012 as a platform to send and receive Bitcoin. But later, the company expanded its services and enabled the trading of various cryptocurrencies. Right now, Coinbase has more than 4900 employees worldwide. The interesting fact about the company is; it is a decentralized company with no main headquarters.
If you are a newbie in cryptocurrency trading, Coinbase is an excellent option for you because it initially provides a simple interface for buying and selling. This is beginner friendly and quite easy for anyone with basic computer knowledge. Later, you can access Coinbase Pro, which is exclusively made for professional traders with some additional features. The Pro version of Coinbase gives you more trade types and the ability to trade various digital assets on a secure-backed platform.
Gate.io VS Coinbase: Performance Comparison
Gate.io allows you to trade in more than 1300 cryptocurrencies and accepts around 50 fiat currencies. This exchange provides advanced trading options and access to leveraged futures and NFT trading. But, its interface is very difficult to understand, making the effect particularly confusing for newcomers. Furthermore, it doesn't support any withdrawal mechanism, making the effect often problematic for the user.
Initially, Gate.io was a Chinese crypto exchange platform but later moved when China cracked down on crypto trading. But, despite moving from the Chinese market, some parts of the site are still in Chinese, and it seems no English speaker has checked it. It doesn't have a good impact and does not win the investors' trust.
Coinbase is an American trade company launched in 2012 with no physical headquarter. All of its employees operate via remote work. Coinbase allows trading in more than 100 cryptocurrencies. It has a very friendly user interface, and the main website and mobile app are easy to use and have quick options for buying, selling, and exchanging cryptocurrencies.
Coinbase allows you to earn in various ways, such as earning interest on available balance and getting a small amount of currency by Coinbase earn. Coinbase focuses more on famous cryptos, which you can invest in and earn more profit.
Coinbase has some negative marks on customer service. In case of any serious issue, it is nearly impossible to access a human for any help. Coinbase provides a self-service by Coinbase help page, email support, and an automatic phone system and chatbot. However, your assets are safe in Coinbase because Coinbase deploys leading security practices to protect its customer's assets.
Gate.io VS Coinbase: Fee Comparison
Gate.io previously charged 0.20% in each trade. But now, Gate.io has announced not to charge any fee on the trading. This is a passionate imitative by the company to regain the crypto community on their platform. This initiative has made Gate.io the industry's cheapest platform for crypto trading.
Coinbase has a proper fee structure for each trade. Following is the fee structure of coinbase
• $0.99 for $10 or less
• $1.49 for $10 to $25
• $1.99 for $25 to $50
• $2.99 for $50 to $200
The trades above $200 have a percentage-based fee.
Gate.io and Coinbase: Major Differences
Following are some major differences between Gate.io and Coinbase
• Coinbase has a proper fee structure for each trade. But Gate.io has removed its trade fee according to the latest updates.
• The Coinbase interface is very easy and user-friendly. It also contains basic and pro versions for user convenience. But, the Gate.io exchange website is confusing at worst. Although it has a function to guide new users, the tool lacks context.
• Making a withdrawal on Coinbase is very easy as making a deposit. But, Gate.io does not offer an easy way to withdraw fiat money. If the investor wants to withdraw the funds, he will have to transfer the crypto to another platform where he can withdraw.
Which One is Best? Gate.io or Coinbase
Coinbase and Gate.io are both well-known crypto trading platforms. Both companies strive to provide a good crypto platform to their users. Both companies have certain advantages and disadvantages as well. If you are a beginner or want to trade in some famous cryptocurrencies, Coinbase facilitates to trade in more than 100 cryptocurrencies, with a simple and easy user interface. But Coinbase will charge some fees from you on each trade.
But, if you are an experienced crypto trader and want to buy those cryptocurrencies which are quite hard to find, then Gate.io is a great exchange to find those cryptocurrencies. Because this platform allows you to trade with 1300 cryptocurrencies, it is completely free; it doesn't have any trading fee from now on.
Gate.io VS Coinbase: Conclusion
So, that's all for Gate.io VS Coinbase. Both companies have pros and cons; you can select them according to your preferences. In my opinion, Coinbase has more performance numbers. However, it charges you per trade but is an opportunity to earn high profits by investing in famous cryptocurrencies. In comparison, Gate.io is a complex platform beneficial only for experienced crypto traders who want to buy cryptos that are hard to find.
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