Comparison of Gate.Io vs Unocoin [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Gate.Io vs Unocoin comparison!

Your expert: Alejandro Borja

Gate.Io

Investing risks losing your money

Your expert: Xavier Tarrasó

Unocoin

Investing risks losing your money

Main points

Fees

0,20%

Earns

Customer service

4/5

≈ 0,20%/0,70%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

3.9 – Reasonable fees with strong local support in India.

Level

0,20%

≈ 0,20%/0,70%

Brief explanation

Gate.io offers a competitive and transparent fee structure. The platform charges a flat trading fee of 0.2% for both makers and takers, which is slightly below the industry average of around 0.25%. This flat fee structure simplifies the cost calculation for users, regardless of their trading volume. For high-volume traders, Gate.io offers a tiered fee discount system. Users who hold the platform’s native token, GateToken (GT), and opt to pay fees with it can receive up to a 25% discount on trading fees. Additionally, purchasing GT points or reaching higher VIP levels through increased trading volumes can further reduce fees, with potential discounts ranging from 30% to 70%. Deposits on Gate.io are free of charge, which is a significant advantage for users. However, withdrawal fees vary depending on the cryptocurrency being withdrawn. For example, the fee for withdrawing Bitcoin is 0.0005 BTC, which is competitive compared to the industry average. While Gate.io does not support fiat withdrawals, it allows users to deposit fiat currencies through third-party services like Banxa, MoonPay, and Simplex. These services charge their own fees, which can be relatively high. Overall, Gate.io’s fee structure is designed to be fair and transparent, catering to both casual traders and high-volume users with various discount options and competitive withdrawal fees.

Unocoin’s commission structure is designed to facilitate easy entry into the cryptocurrency market, yet it’s important for users to be aware of the costs involved. The platform charges a fee for buying and selling cryptocurrencies, which can be considered slightly higher compared to other global exchanges. These fees are typically a percentage of the transaction value, and while they ensure the platform’s operational efficiency and security, they may impact users looking to execute frequent trades or those with smaller budgets. Understanding these fees is crucial for effective financial planning and maximizing potential returns from cryptocurrency investments.

Gate.Io

Year Founded: Gate.io was founded in 2013, making it one of the older cryptocurrency exchanges. Its longevity in the market indicates a level of stability and experience in handling crypto assets.
Customer Service: The platform offers 24/7 customer support via live chat, email, and support tickets. While there have been mixed reviews regarding response times, the availability of multiple support channels is a positive aspect for users needing assistance.
Number of Users: The exchange has a substantial user base, with millions of registered users. This large user base reflects the platform's popularity and trustworthiness among crypto traders.
Trading Volume and Liquidity: Gate.io is known for its high trading volume and liquidity, ranking among the top exchanges globally. This high volume ensures that users can easily buy and sell assets without significant price slippage.
Security Methods: Gate.io employs robust security measures, including cold storage for the majority of user funds, two-factor authentication, and SSL encryption. These measures are designed to protect user assets and personal information from potential breaches.

Read Gate.io review

Unocoin

Year Founded: Established in 2013, Unocoin has been operational for nearly a decade, showcasing its resilience and sustained relevance in the rapidly evolving cryptocurrency market.
Security Methods: Unocoin employs robust security measures including two-factor authentication (2FA), a cold storage system for cryptocurrency assets, and SSL encryption, ensuring a high level of security for its users' investments.
Reputation and Reviews: With a strong presence in the Indian market, Unocoin enjoys a positive reputation among its users and has been featured in numerous mainstream media outlets, highlighting its credibility and reliability.
Customer Service: Known for its dedicated support team, Unocoin provides timely customer service and support, which is crucial for new users navigating the complexities of cryptocurrency investments.
Volume Managed: Handling a significant volume of transactions daily, Unocoin demonstrates adequate liquidity, which is vital for users looking to execute trades efficiently without substantial price slippage.

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Product selection

Native token

Token GT (GateToken)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Gate Technology Inc.

Unocoin Technologies Private Limited

Regulation

Not regulated

Year founded

2013

Founder

Lin Han

Sathvik Vishwanath, Harish B V, Abhinand Kaseti, Sunny Ray

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Gate.Io	FEATURES	Unocoin
Minimum trade size is $10, making it accessible for small investors.	Minimum Trade	Unocoin offers a relatively low minimum trade amount, making it accessible for beginners to start trading without requiring a significant initial investment.
Flat fee of 0.2% for both makers and takers, competitive in the industry.	Trading and Transaction Fees	The platform’s fee structure is on the higher side, which might be a deterrent for those looking to maximize their returns on smaller trades.
Over 1,400 cryptocurrencies available, providing extensive trading options.	Number of Cryptocurrencies	Unocoin supports only a limited selection of major cryptocurrencies, which may not satisfy users interested in a broader array of options.
Supports a wide range of trading pairs, enhancing trading flexibility.	Crypto-to-Crypto Trading Pairs	Offers some crypto-to-crypto trading pairs, but the options are not as extensive as those available on larger international platforms.
Good security measures but lacks full transparency in some areas.	Website Transparency	The website provides clear information regarding fees, policies, and security practices, aiding users in making informed decisions.
Gate.io does not currently offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Unocoin lacks an exchange card, limiting flexibility and benefits for users looking to utilize crypto for everyday transactions.
Utilizes both hot and cold storage, with the majority of funds kept offline.	Storage Offering	Offers secure storage solutions including cold storage, which provides a high level of security for users’ digital assets.
Offers various staking and earning opportunities with competitive returns.	Staking and Rewards	Limited staking options are available for certain cryptocurrencies, providing users with an opportunity to earn rewards on their holdings.
Robust mobile app available on iOS and Android, well-rated for Android users but mixed reviews for iOS.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed, making trading accessible at home or on the go.
Provides 24/7 support via live chat and email, though response times and quality vary.	Customer Service	Provides a decent level of customer service with support available through multiple channels, though response times can vary.
Crypto deposits are free; withdrawal fees vary by asset, no fiat withdrawals supported.	Deposit and Withdraw	Supports a variety of deposit and withdrawal methods, but fees and processing times can be a drawback for some users.

Key features

Analysis tools

Advanced charting tools, technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, Gate.io Earn

Staking, recurring buys, Unocoin Earn, bill payments

Anonymity

Yes

Key points

Available cryptocurrencies

800+

10+

User-friendliness

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

Unocoin provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Provides decent value for money with competitive fees and strong local support in India, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

India

Best for

Suitable for traders of all experience levels looking for a platform with a wide range of cryptocurrencies and competitive fees.

Ideal for Indian investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

USD, BTC, USDT

INR, BTC

Account

Trading

Gate.io offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but can be complex for beginners.

Unocoin is a popular exchange in India, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees compared to some other exchanges.

Deposit and withdrawal

Gate.io supports a wide range of deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with competitive fees.

Unocoin is popular in India, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Gate.io provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

Unocoin provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Gate.io provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Unocoin provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in India.

Security

Gate.io provides extensive security measures, including 2FA and cold storage. It is not regulated by major financial authorities, which might be a concern for some investors.

Unocoin provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert in cryptocurrency exchanges, I highly recommend Gate.io for its comprehensive trading features and extensive selection of cryptocurrencies. With over 1,400 coins and a wide range of trading pairs, Gate.io offers excellent opportunities for diversifying your investment portfolio. The platform’s robust security measures, including cold storage and two-factor authentication, provide peace of mind for users concerned about the safety of their assets. While the interface may be complex for beginners, its advanced tools make it a powerful choice for experienced traders. Despite some limitations with fiat support, the competitive fees and strong liquidity make Gate.io a top choice for serious cryptocurrency enthusiasts.

Xavier Tarrasó

As one of the analysts here, I recommend considering Unocoin if you’re starting out with cryptocurrencies, especially if you are based in India. The platform is user-friendly, making it less daunting for beginners to navigate the crypto space. Additionally, Unocoin’s unique offering of a Systematic Investment Plan for Bitcoin sets it apart, providing a structured way to invest in Bitcoin. However, keep in mind the higher transaction fees and the limited selection of cryptocurrencies, which might be limiting if you’re looking to explore a wide range of crypto assets.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.