Today we are comparing two of the world’s biggest and best crypto exchanges — Hong Kong’s DigiFinex, and Gate.io Exchange registered in the US and the Cayman Islands. We will look at trading fees, trading volumes, whether you can trade derivatives or not, if there’s a futures market, how many crypto assets are offered on the exchange, and much more.
Let’s see what these exchanges have got to offer!
Compare DigiFinex vs Gate.io
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Gate.io Trading Fees
First of all, take a good look at the fee schedule below.
As you can see in the blue section we’ve highlighted, there is a separate price for makers and takers and a separate price when paying your fees with the traded crypto, or in Gate Token (GT), the platform’s native utility token. 0.2% is a pretty standard spot exchange fee in this industry. All other fees, including withdrawal fees, can be found here.
DigiFinex Trading Fee Structure
For all spot trades on DigiFinex, there’s a flat fee of 0.2%. Unfortunately, with no 30-day VIP fee system in place for all regular users, DigiFinex is pretty expensive to use. Fortunately, like with Gate.io, you can pay your fees in the utility token, this time called DFT, to get a 25% discount.
There’s a paid VIP club for those trading over 100,000 USDT per month, with different fees depending on the amount of crypto traded.
DigiFinex vs Gate: Gate.io has a much better spot trading fee structure.
Sign Up & KYC Experience
Becoming a Gate.io Trader (USA Friendly)
Ok new traders, let’s get you set up. The following process works the same on the website and the mobile application:
- Head over to Gate.io or download the mobile app
- Click ‘Sign Up’ and add your country, username, password
- You’ll be asked to provide a ‘fund withdrawal password’ which will be used when you try to withdraw funds
- Your account is made, but you’ll need to log in again
- Set up 2-Factor Authentication to make your profile safer
KYC checks aren’t mandatory but will be required to purchase cryptocurrency assets or make a withdrawal. Some users may find that they’re able to withdraw up to $1,000 per day without doing ID verification.
Joining the DigiFinex Cryptocurrency Exchange
Making an account is simple; follow these steps:
- Head to the DigiFinex website and click ‘Register’. There is an app, but it’s fairly new and signing up via the website is recommended
- Provide your email address and a password, then click ‘Get Code’ to receive a verification code via email
- Copy and paste that code into the website and proceed
- That’s it, your account is ready to use!
- You will need to set up 2FA before doing anything else, and…
- Of course, you need to do KYC checks to engage with fiat currency. There’s a 1BTC daily withdrawal limit if you prefer to trade KYC-free
- ID verification can take up to 3 business days
It’s reported that DigiFinex permits users from all countries to join, though encouraging them to follow the crypto laws of their own countries.
DigiFinex vs Gate: Both are straightforward and flexible companies when it comes to signups.
Ease of Use & Feel of Website or App
Gate.io – Cryptocurrency Exchange Masterclass
We are big fans of Gate.io, having watched it climb the rankings over the last couple of years and reach a daily trade volume of over $1bn (on some days). The designers have done marvelous work as a trading platform, introducing friendly staking services, futures trading, margin trading, options trading, borrowing and lending with friendly rates, and an inclusive ‘Startup’ scheme to support new digital assets on their rise.
Don’t let this abundance of services overwhelm you. First and foremost, it’s an awesome place to trade for both beginners and pros, and we think you’ll get up to speed pretty quickly. The app, however, isn’t so great, so maybe stick with the browser version for now.
DigiFinex has a friendly and professional feel right from the start, with its smooth account registration process. On top of that, there are around 150 cryptocurrencies and more than 210 trading pairs to enjoy. Daily trading volumes typically exceed those of Gate.io, averaging about $1.5 billion per day. The large trade volumes may be down to how easy it is to start trading and navigating the platform.
Cryptocurrency traders will have to pay a withdrawal fee when taking funds out of the service, on top of the standard blockchain network fee.
DigiFinex vs Gate: This is a tie.
Getting your funds into Gate.io
You cannot deposit funds or transfer funds into this crypto exchange. However, digital asset deposits are allowed.
Making deposits on DigiFinex
The same goes for DigiFinex. Only crypto deposits are allowed.
DigiFinex vs Gate: Neither!
Instant Buy Options (Buying with a Credit or Debit card)
Buying digital assets on Gate.io
While there’s no deposit option, you can use your capital to purchase a range of cryptocurrencies, including USD-pegged USDT, with a debit or credit card, thanks to partnerships with Banxa, Simplex, Mercuryo, Coinify, and Advcash. The price comparison tool is excellent, but it also means that prices vary massively.
There are around 25 cryptocurrencies for sale and 25 compatible fiat currencies.
Purchasing crypto on DigiFinex
Simplex, Mercuryo, and Wyre are DigiFinex’s liquidity partners of choice, giving users great options for making debit and credit card purposes.
There are 35 different cryptocurrencies to choose from and 40 compatible fiat currencies.
DigiFinex vs Gate: Both crypto exchanges are great, but DigiFinex has a slightly more versatile instant-purchase system.
Trading with Gate.io
The cryptocurrency markets are getting busier, which is good news for crypto exchanges like Gate.io, constantly improving their trading interfaces, user experience, and more.
While the daily trading volume might not entirely be as high as DigiFinex, the trading platform itself is impressive, with more cryptocurrencies (800+) and trading pairs (1,400+) than their rivals.
While the user experience has improved for the website, the mobile app lacks the quality to compete with the top crypto exchanges like Binance and Kraken.
Trading with DigiFinex
DigiFinex is one of the top picks for professional traders when market conditions are ripe, thanks to its excellent technical indicators and charts. The platform is aimed at spot traders, but one of the key features is a superb selection of margin trading pairs (11), which can be traded with up to 5x leverage.
Basic and Pro display preferences put you in control of how you want to see each transaction. The Basic version keeps things simple, while Pro emphasizes technical analysis by showing you more charts and order book fluctuations. You can also place limited orders and use advanced drawing tools.
DigiFinex vs Gate: Gate.io is our winner for this round.
Reputation and Security
Before Gate.io was Gate.io, it was Bter.com, a Chinese exchange forced to close and relocate due to the China crypto ban of 2017. Unfortunately, before rebranding as Gate.io, they weren’t the most responsible exchange, being hacked for 7,170 BTC and failing to pay back investors.
The past is the past, and Gate.io has worked hard on their security, offering a bounty program, Two Factor Authentication, and plenty of security settings for you to apply to your account. As a result, it has been recognized as one of the world’s most secure exchanges for the last three years.
The word on DigiFinex
With over 4 million users, DigiFinex has a burgeoning reputation as a top-tier crypto exchange, especially for those trading on the spot markets. The next-gen trading features make each transaction secure and enjoyable whether you’re risk-averse or looking to enjoy margin trading and derivatives. While customer service reviews aren’t the best, security is highly rated, with Two Factor Authentication just starting. In addition, the platform has never been hacked and has repeatedly caught out and exposed any attempts to hack or filter stolen funds through their crypto exchange.
DigiFinex vs Gate: Both cryptocurrency exchanges are growing their reputations; let’s call it a tie.
Gate.io vs DigiFinex: Who is our winner?
After assessing the following categories, fee structures, withdrawal fee similarity, security features, low market cap coin selection, the daily trading volume, and the overall crypto trading services of the exchange, and put it all into a hypothetical comparison table … Gate.io is our winning exchange.