Gate.io is a global cryptocurrency exchange known for having a particularly rich stock of altcoins and listing more than 1,100 coins. Recently, the exchange announced that its total user base exceeded 8 million, adding 3 million users in the first half of 2021, followed by 2 million in the third quarter of 2021. In this article, we’ll take a look at why Gate.io has exploded in popularity…
2021 and the rise of cryptocurrencies
2021 has been incredibly bullish for the crypto market. The post-pandemic world has embraced the cryptocurrency ecosystem more than ever before. Here are some data:
- There are over 300 million crypto users online.
- More than 18,000 businesses around the world accept cryptocurrencies.
Other reports state that the total number of users has doubled from 100 million to 200 million in just four months. 2021 has also seen crypto markets and assets reach incredible new heights. The overall market capitalization exceeded $2 trillion and $2.5 trillion, and was on the verge of exceeding $3 trillion. In addition, both Bitcoin and Ethereum have hit all-time highs, TVL (total locked value) in the DeFi market has passed $100 billion, and NFTs have become more popular than ever.
With the explosion of the crypto ecosystem, there is a great need for a platform like Gate.io that not only provides the ideal trading platform, but also offers products that will serve the entire ecosystem as a whole.
Gate.io and its extensive altcoin repository
Gate.io’s biggest weapon is its large coin storage. According to CoinGecko, Gate.io has the highest number of coins listed among centralized exchanges. Gate.io has a dedicated team that is constantly reviewing new projects to add coins faster than anyone else on the market, while protecting their users from potentially fraudulent coins. According to the exchange’s Medium page, between September and November 2021 alone, the exchange has listed 200 tokens! Also, Gate.io users can fill out a form to list their favorite projects.
Gate.io goes beyond simple spot offers
Gate.io provides advanced financial tools for its more experienced investors in the form of leveraged ETFs and perpetual contracts.
Leveraged ETF
ETF stands for exchange-traded funds. Gate.io offers its users multiple leveraged ETFs expressed in long (long), short (short) and other instruments. This is a very popular product as ETFs adopt an automatic position management mechanism while preventing liquidation by providing users with fully automated, low leverage contract transactions.
LTC5L and LTC5S are the biggest examples of leveraged ETFs. LTC5L is Litecoin’s (LTC) 5x long leverage and LTC5S is LTC’s 5x short leverage. In September 2021, Gate.io’s leveraged ETF products reached the $100 million milestone.
Perpetual contracts
Gate.io futures are available for BTC, ETH, LTC, BCH, etc. It provides perpetual contract trading of various cryptocurrencies, including As written, Gate.io is one of the top 10 exchanges in the world with $2.90 billion in trading volume. It is stated that it has 196 permanent contracts and 24-hour open positions worth $1.86 billion.
Startup platform
The purpose of Gate.io’s Startup platform is twofold: to give promising projects a platform to raise funds, and to allow Gate.io users to invest early in a potential moonshot. According to CryptoRank, Gate.io Startup is one of the top 10 IEO platforms in the world with an average return on investment (ROI) of 2,212.24 percent.
NFT Magic Box
NFTs dominated the narrative in 2021 and have become one of the leading sectors in the crypto market. Gate.io’s NFT Magic Box aims to create a comprehensive ecosystem for NFT investors and enthusiasts. The Magic Box has already gained the attention of Bored Ape Yacht Club (BAYC), MetaverseX, iFans and other well-known NFT collections.
One of the most attractive features of the Magic Box platform is the 0 minting fee. So if you’re an aspiring NFT artist, you don’t have to worry about excessive NFT extraction fees. All you have to do is focus on your art. Magic Box also offers Initial NFT Offering (INO). INO empowers Gate.io users by providing early access to new NFT collections while giving their artists and creators access to a ready market.
Conclusion
Gate.io has been around for over 8 years and is one of the oldest crypto exchanges in the world. However, over the past few years, Gate.io has evolved from an exchange offering a variety of services to anyone interested in certain aspects of the crypto ecosystem to an all-encompassing platform. With the platform approaching 10 million users, Gate.io plans to hold an event to celebrate its loyal users. A total of 1 BTC will be awarded to new and old users who complete a series of fun missions. Check this page for more details.
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