Confronta BitMart vs Gate.io Exchange

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.

1. What Is BitMart?
2. What Is Gate.io?
3. BitMart vs. Gate.io (table)
4. BitMart vs. Gate.io (details)

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)

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.