BitMart vs. Gate.io | Choose the Exchange That Fits Your the Best
This article compares two exchanges from the top 10 crypto trading platforms regarding liquidity. Both of them emerged in 2017, and both of them are multi-functional. Despite being leaders in their field, Gate.io and BitMart receive some criticism from their users. Choosing between these exchanges can be challenging, so we are here to help you. Read the article to get an idea of which of the exchanges fits your demands better and what these platforms' strongest and weakest characteristics are.
What Is BitMart?
BitMart is one of the biggest exchanges in terms of the daily trading volume. As of July 2022, this volume is reaching nearly $2 billion outperforming the Coinbase exchange and most other crypto exchanges. As for the number of supported coins, BitMart is not among the first exchanges. However, we can't say that the set of 600+ supported coins is somewhat a small selection. In fact, it is quite a broad and diverse selection that can satisfy most traders.
As for the available features, BitMart allows spot trading, futures trading, margin trading, staking, lending, earning interest, and trading NFTs. This selection of features covers a bulk of needs crypto traders have. It doesn't matter if you are an NFT trader, look for a staking platform, or trade in large amounts using the leverage — all these features are here for you. Moreover, BitMart has an Institution segment that provides exclusive personal services.
BitMart has strong security protecting users' funds by holding 99% of this money in a cold storage. The servers are DDoS-proof. Users secure their accounts via 2fa. To ensure better safety, BitMart supports multi-signature. Despite the intense effort to protect the users' money, BitMart was hacked in 2021, and $200 million worth of crypto was stolen from the users. Some of them claim they are yet to receive compensation.
What Is Gate.io?
Gate.io is one of the leading exchanges in terms of liquidity and the absolute leader among all centralized exchanges by the number of supported cryptocurrencies — Gate.io supports over 1,400 coins. On top of that, Gate.io supports NFTs trading.
Like all the market leaders, Gate.io is more than just a spot exchange. It supports such features as margin trading, derivatives trading, futures trading, crypto loans, instant swaps, P2P platform, crypto lending, cloud mining, staking, interest earning, and trading bots.
Gate.io was launched in 2017; however, before this, the company was working under a different name and was providing a different set of services in a fiat-to-crypto market. In 2015 it went through a hacker attack, so the new incarnation was more focused on security. The exchange protects money and data through encryption and firewalls. The platform is DDoS-proof. Gate.io goes through regular security audits and provides users with anti-phishing codes. To secure your funds on Gate.io, you can enable 2fa and use the IP and wallet whitelist. However, some people say they cannot withdraw their funds for no apparent reason. So the reputation of the platform itself is not perfect.
BitMart vs. Gate.io (table)
| Factor | BitMart | Gate.io |
| Supported coins (as of July 2022) | 600+ | 1400+ |
| 24h trading volume (as of July 2022) | $2 billion | $1.2 billion |
| Trading fees | 0.25% | 0.2% |
| Withdrawal fees (BTC) | 0.0005 BTC | 0.0005 BTC |
| Regulated? | Yes | No |
| Security | 99% of money are stored in the cold wallets, 2fa, DDoS-proof, withdrawal confirmation (email/phone call) | Third party security audits, data encryption, firewall, anti-DDoS mechanism, IP and wallet whitelisting, 2fa verification, anti-phishing code |
| Security breaches | Yes, latest in 2021 | Yes, latest in 2015 |
| Additional features | NFT market, staking service, lending, futures trading, margin trading | Buy crypto, NFT marketplace, instant swaps, P2P service, margin trading, futures trading, crypto loans, derivatives market, interest earning, staking, cloud mining, crypto lending, social trading |
| Available | available in most unsanctioned countries including the USA | globally, but not in Ontario (Canada), the USA, China, Europe (derivatives), Malaysia, Japan, UK, Thailand. In other countries Binance can be used with serious limitations |
BitMart vs. Gate.io (details)
Supported coins & 24h trading volume
Gate.io supports much more coins than BitMart but has lower liquidity. Considering BitMart supports over 600 cryptocurrencies, traders won't suffer from a lack of available altcoins. However, they will enjoy one of the best liquidity rates in the industry. Hands down, there is no need for all of the coins supported on Gate.io.
Fees
Both platforms charge high trading fees. However, Gate.io's whopping 0.2% fee is way better than the 0.25% fee charged by BitMart. As for withdrawal fees, both platforms have relatively average rates.
Regulated?
BitMart is regulated by FinCEN, while Gate.io is not regulated at all. It makes BitMart a bit more trustworthy platform. As you can see, it doesn't necessarily mean that your funds will be safe on the platform. It is crucial not to keep much money in the exchange wallets.
Security
Both exchanges provide many robust security features. However, it wouldn't make sense to praise BitMart's security features considering that the exchange was hacked in 2021. We are sure that the team is working to avoid future security breaches, but we now conclude that Gate.io is a safer platform.
Additional features
Gate.io offers several features not available to BitMart users, namely, derivatives trading, earn interest functionality, social trading, cloud mining, etc. It makes Gate.io a more versatile platform fit for a more significant number of traders.
Available
BitMart is available in most countries. We can't say the same about Gate.io, so BitMart is doing way better by this measure.
| Company | ||
|---|---|---|
| User rating | 14 user reviews | 36 user reviews |
| Cryptogeek rating | ||
| Trust Score How it works |
User rating
| 14 user reviews | 36 user reviews |
Cryptogeek rating
Trust Score
How it worksAbout
|
BitMart is a cryptocurrency exchange launched in 2017. The exchange is registered in the Cayman Islands. The team working for the exchange has ex-members from Amazon, Alibaba, and other huge companies. However, the team members are not showcased on the BitMart website. The offices of BitMart can be found in New York, Seoul, Hong Kong, and Singapore.
|
Gate.io was founded in 2013 by Lin Han. The platform is operated by Gate Technology Incorporated. This year, April 17, Gate.io managed to raise raised $64,000,000 as an initial coin offering (ICO), and according to exchange CMO Mrs. Marie Tatibouet on April 8, 2019, it raised an undisclosed amount of capital from 5 BLOCKS CAPITAL.
|
Founding Date
| 2018 | 2013 |
Country
| Cayman Islands | USA |
Type
| Centralized | Centralized |
Languages
| English, Japanese, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese, Turkish | English, Portuguese, German, French, Spanish, Italian, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese, Turkish, Thai |
Mobile app
| iOS, Android | iOS, Android |
Full address
| Offices located in New York, Greater China, Seoul and Hong Kong. (The exchange does not disclose the exact location of its office) | Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 |
Fees
|
Default Fee: Maker 0.2500% / Taker 0.2500%. Full fee schedule: https://www.bitmart.com/fee/en |
0.2% fee for trading. Tier Fee discount Trade Volume of BTC Equivalent VIP0 No < 6 BTC VIP1 5% Off ≥ 6 BTC VIP2 10% Off ≥ 12 BTC VIP3 15% Off ≥ 24 BTC VIP4 20% Off ≥ 50 BTC VIP5 25% Off ≥ 100 BTC VIP6 30% Off ≥ 300 BTC VIP7 35% Off ≥ 800 BTC VIP8 40% Off ≥ 2000 BTC VIP9 45% Off ≥ 5000 BTC VIP10 50% off ≥ 10000 BTC |
| About |
BitMart is a cryptocurrency exchange launched in 2017. The exchange is registered in the Cayman Islands. The team working for the exchange has ex-members from Amazon, Alibaba, and other huge companies. However, the team members are not showcased on the BitMart website. The offices of BitMart can be found in New York, Seoul, Hong Kong, and Singapore.
|
Gate.io was founded in 2013 by Lin Han. The platform is operated by Gate Technology Incorporated. This year, April 17, Gate.io managed to raise raised $64,000,000 as an initial coin offering (ICO), and according to exchange CMO Mrs. Marie Tatibouet on April 8, 2019, it raised an undisclosed amount of capital from 5 BLOCKS CAPITAL.
|
|---|---|---|
| Founding Date | Founding Date 2018 | Founding Date 2013 |
| Country | Country Cayman Islands | Country USA |
| Type | Type Centralized | Type Centralized |
| Languages | Languages English, Japanese, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese, Turkish | Languages English, Portuguese, German, French, Spanish, Italian, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese, Turkish, Thai |
| Mobile app | Mobile app iOS, Android | Mobile app iOS, Android |
| Full address | Full address Offices located in New York, Greater China, Seoul and Hong Kong. (The exchange does not disclose the exact location of its office) | Full address Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960 |
| Fees |
Fees
Default Fee: Maker 0.2500% / Taker 0.2500%. Full fee schedule: https://www.bitmart.com/fee/en |
Fees
0.2% fee for trading. Tier Fee discount Trade Volume of BTC Equivalent VIP0 No < 6 BTC VIP1 5% Off ≥ 6 BTC VIP2 10% Off ≥ 12 BTC VIP3 15% Off ≥ 24 BTC VIP4 20% Off ≥ 50 BTC VIP5 25% Off ≥ 100 BTC VIP6 30% Off ≥ 300 BTC VIP7 35% Off ≥ 800 BTC VIP8 40% Off ≥ 2000 BTC VIP9 45% Off ≥ 5000 BTC VIP10 50% off ≥ 10000 BTC |
Trading
BitMart trading volume is 424,500,917.0. The exchange has 183 available trading pairs. Fiat trading is not available on the exchange. Margin trading is available.
Gate.io trading volume is 61,555,210.0. The exchange has 395 available trading pairs. Fiat trading is available on the exchange. Margin trading is not available.
Please note: The bigger number of available trading pairs provides you with more trading opportunities, but may cause technological shortcomings at the same time.
Volume
| 424500917 | 61555210 |
Pairs
| 183 | 395 |
Coins
| 99 | 192 |
Fiat trading
| - |
Deposit
| Free | Free |
Fees
| Percentage | Percentage |
Margin
| - |
| Volume | Volume 424500917 | Volume 61555210 |
|---|---|---|
| Pairs | Pairs 183 | Pairs 395 |
| Coins | Coins 99 | Coins 192 |
| Fiat trading | Fiat trading - | Fiat trading |
| Deposit | Deposit Free | Deposit Free |
| Fees | Fees Percentage | Fees Percentage |
| Margin | Margin | Margin - |
Safety
Two factor authentication
Verified
| Unverified | Verified |
| Two factor authentication | Two factor authentication | Two factor authentication |
|---|---|---|
| Verified | Verified Unverified | Verified Verified |
Social
Website
| www.bitmart.com | www.gate.io |
| @BitMartExchange | @gate_io |
Number of followers
| 34247 | 49787 |
| Website | Website www.bitmart.com | Website www.gate.io |
|---|---|---|
| Twitter @BitMartExchange | Twitter @gate_io | |
| Number of followers | Number of followers 34247 | Number of followers 49787 |
Rating
| User rating | 14 user reviews | 36 user reviews |
|---|---|---|
| Cryptogeek rating |
Cryptogeek summary
The fight was tight, but the outcome was unclear. We can't proclaim a winner because these exchanges are on nearly the same level. Gate.io manages to stand safely against the hackers, but its liquidity is way lower than on BitMart. Gate.io has better trading fees, but BitMax is a more legit platform because FinCEN regulates it. We can continue it further. Each time we state that Gate.io is better than BitMax by one parameter, we can add that BitMax beats Gate.io by another parameter. It's up to you to define your preferences. What qualities are the most important for you when you look for an exchange? Make a list, see if Gate.io or BitMax sticks to this list the best, and make your decision.
| We choose the winner based on our TrustScore Rating. Please remember, it’s still up to you which company to choose! How do we calculate Trust Score? |
|---|
| We choose the winner based on our TrustScore Rating. Please remember, it’s still up to you which company to choose! How do we calculate Trust Score? |
On this page, you can compare BitMart with Gate.io. Which exchange is better to use? You can compare exchange characteristics, fees, trading features, safety, and social media presence.
At the end of this page, you can see our final ratings for both exchanges.
In the table below you can see general information on both exchanges. BitMart was founded in 2018 in Cayman Islands. Gate.io was founded in 2013 in USA.
When choosing an exchange for trading, you should take into account how long it has been an active market player. Older exchanges usually have a good reputation and tend to be more reliable. It may be a good decision to use the older exchange, which is Gate.io. At the same time, newer projects may be more technologically advanced.
You should also pay attention to where the exchange is located. Some countries have strict financial regulations, which makes it difficult to seek court assistance when needed.
BitMart is Centralized and Gate.io is Centralized. You can read more about the pros and cons of centralized and decentralized exchanges in this article.
BitMart has a mobile app available for iOS and Android. Gate.io has a mobile app available for iOS and Android.
BitMart has 8 languages available, including English, Japanese, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese and Turkish. Gate.io has 13 languages available, including English, Portuguese, German, French, Spanish, Italian, Korean, Russian, Traditional Chinese, Simplified Chinese, Vietnamese, Turkish and Thai.