Gate.io exchange is not recommended for a new trader

Writing from my own experience with gate.io and why I will not recommend gate.io exchange to anyone who would like to do the trading for the first time in her/his life. I have nothing against gate.io and this is purely writing from personal experience of using the exchange and my personal point of view and my opinion. I had tried a couple of the services provided by gate.io and I'm going to write just that.

This is how www.gate.io exchange interface looks like when you first go to the website

Gate.io have their own application to download from the App Store and Google Play Store. Let start with how to sign up to why I don't recommend to a new trader, but for a seasonal trader yes I think gate.io will be okay for you because you know the term and how to navigate better on the site due to the experience you accumulated from trading.

The sign up page

Here is where you sign up for an account to start trading at gate.io. The fund password is important for second layer protection, every time you execute for trade or close a trade after an hour, it will ask for your fund password. After you had filled up all the signup column, you can't start trading yet. You need to complete their KYC with your identification ID or your driving license and follow the instruction. After that, you need to wait for your KYC to be verified then only you can start trading. At this point, you can only deposit your cryptocurrency to the account.

Market: where the traditional trading happen

There are many wallets for different services, this is extremely IMPORTANT

Why it's important? because it took me a few days to figure this out. I tried googling about it but couldn't get a straight forward answer. At first, when you deposit your fund into gate.io, the fund will go to Exchange Account which will act as your main wallet. If you would like to trade at Margin Account, you need to transfer fund from your Exchange Account to your Margin Account. Each of the wallets is an independent wallet from each other, therefore, if you don't want to trade at Margin Account, you need to transfer your Margin Account fund to Exchange Account.

Contract Account Wallet

Each of the wallets tab you will see deposit & withdraw or transfer but there is 1 wallet that does not have this button which is Contract Account so how do you withdraw the fund to Exchange Account? I will show you how so that if you ever want to trade at gate.io, at least you know where to withdraw your fund.

Look at the red rectangle box

• You click Fund Transfer

This is where confusing because gate.io is using a different term to represent the wallet

• Spot Account mean Exchange Account
• Future Account mean Contract Account

Remember each of the wallets is standalone, so if you have any fund that was transferred in to initial trade, then you will need to transfer out if you're no longer want to trade. Therefore, this is my very opinion why it is not recommended for a new trader to use gate.io. The UI/UX is not really friendly, it is not easy to navigate too.

Margin Trading

Margin trading, am still learning about it. That how the interface looks like at gate.io.

Perpetual contract

Before you initiate your perpetual contract, you can try at the Testnet in order to have the experience and an understanding of the perpetual contract.

Disclaimer: Please trade with conscious! this is just my personal opinion about why it is not suitable for a new trader.