Buying Ethereum (ETH) is moving into the future, whether you want to be independent with your assets, leave the governmental economy, or invest in this promising coin. Most of us know that ETH is the most significant public chain after bitcoin, known as blockchain 2.0.
One of the first cryptocurrency exchanges in the world, Gate.io was founded in 2013 and provides services for exchanging numerous top digital assets.
If you’re new to Gate.io or buying crypto in general, this guide can be helpful for you.
1. Get your Gate.io App
Download the app from Google Play or the App store. They also have versions in Windows or Mac should you want to go web-based.
2. Create an account
Enter your country of residence, followed by your email address and password. If you have a referral code, you may add it. Otherwise, leave it blank.
– It should be 8 characters, at least
– Should consist of numbers and letters
– It should not be similar to your name or email address
3. Email verification
Once you tap the “Sign up” button, an email is automatically sent to your registered email address. You need to check your email to get the 6-digit verification code and enter it here.
4. Login again
After email verification, you should log in again using your password. Every login attempt sends a one-time pin to your email address.
5. Go through Account Verification
Before funding your account or trading, you must complete the KYC or Account Verification process. On the Markets page, tap the number 2 chevron that says “KYC.”
6. Choose Authentication Type
You can only choose one authentication type per account. Make sure you have chosen the right one, as you can no longer change it after the authentication is completed.
- Personal – If you’re an individual and do not represent any group or company, submit your documents.
- Enterprise – You need to perform this verification through the web.
7. Personal Identity Authentication
Enter your country of residence, Full name, Date of Birth, and select document type and Identification number. Ensure that it matches your information to avoid delays in the KYC process.
Tap submit, and you will receive a prompt that says, “Data is submitted successfully and is under review.”
8. KYC complete
A notification will appear on the app saying that KYC1 verification is approved. You are encouraged to complete KYC2 and enjoy more benefits or features of the app.
9. Funding your account
You can’t deposit directly to your Gate.io account compared to other exchanges. Gate.io has partnered with several 3rd party payment processors, which is quite a lot of work because you need to register another tab and go through the same verification process on that provider.
It is convenient and cheaper to add funds to your account using your digital wallet.
Let’s say you have one digital wallet that has USDT. You can transfer your USDT to Gate.io with ease. We can take Trust Wallet as an example.
Note: Trust Wallet is a safe, self-custodial wallet wherein you have direct control to your private keys, unlike custodial wallets, where they hold the wallet’s private keys, giving them the right to access your assets.
10. Transfer USDT from your external wallet
Tap “Wallets,” and on top of the Spot account, you will see a “Deposit” button.
Next, type “USDT” in the search box and select the one with Tether beside it.
11. Select the appropriate blockchain network
Gate.IO supports a lot of chains, such as BTC/OMNI, ETH/ERC20, Tron/TRC20, BSC/BEP20, and so on.
This time we can choose BSC/BEP20 because our USDT stored in our Trust wallet account is for BEP20 or Binance Smart Chain Network.
You can either Scan the QR code using another device or copy the deposit address by tapping “Copy.”
12. Send USDT
From your Trust Wallet app, Open Binance-Peg BSC-USD and Tap “Send.“
Paste your Gate.io deposit address and enter the amount of USDT you wish to transfer. On the top right corner, Tap Continue to proceed.
Note: Check and double-check the deposit address before transferring your funds, as this action is irreversible.
13. Transfer confirmation
Crypto transfers usually take 30 to 60 minutes, depending on the network traffic and the gas fees.
Head back to your Gate.io app and open “Wallets.” Refresh and check your funds from time to time to see if it’s reflecting already.
14. Buy Ethereum ETH
Open “Trade” to start purchasing your Ethereum.
You can find ETH/USDT on the list by writing them in the search box.
On the Spot page, enter the amount of USDT you want to buy.
Drag the slider to the right to use 100% of your USDT balance to buy ETH. Then Tap “Buy“
15. Succesfully bought ETH
You can find your ETH balance in your Spot account. There are eight different types of accounts in Gate.io, which serve their purpose depending on your trading style.
Spot trading is the easiest and most recommended for beginners. You can find more information about Gate.io below.
Frequently asked questions
1. Is Gate.io wallet safe?
It is recognized as one of the highly-secured exchanges on the web. The platform provides numerous security features.
2. How much can you withdraw from Gate.io?
New or Unverified accounts can withdraw up to the $100,000 limit. KYC level 1 verified accounts can withdraw up to approximately $2,000,000 per day; for KYC level 2 verified accounts, it can be as much as $5,000,000 limit per day.
3. Which countries can use Gate.io?
All the Countries in the World except for the Following; Washington, New York, Cuba, Sudan, Syria, Iran, North Korea, Venezuela, Pakistan, and Crimea.