Comparison of Gate.Io vs Biking [ 2024 ]

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

Your expert: Alejandro Borja

Gate.Io

Your expert: Xavier Tarrasó

Biking

Main points

Fees

0,20%

Earns

Customer service

4/5

0,10% /0,20%

Fees

Yes

Earns

2/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

3.7 – Competitive fees but some charges for premium features.

Level

0,20%

0,10% /0,20%

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 However, withdrawal fees vary depending on the cryptocurrency being withdrawn.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.

BiKing Exchange employs a competitive fee structure designed to accommodate both casual and high-volume traders. The platform charges a basic trading fee, with discounts available based on trading volume, encouraging active trading. This tiered fee approach ensures that both small-scale traders and large investors can operate efficiently. The fees are structured to be transparent and are clearly communicated on the platform, making it easy for users to understand how much they will be paying per transaction. This setup not only fosters a fair trading environment but also enhances the overall trading experience by minimizing unexpected costs.

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.

Biking

Security Methods: BiKing Exchange employs robust security protocols, including multi-layer encryption, deep cold storage for funds, and multiple offline signatures for transactions. These measures provide strong safeguards against unauthorized access and loss of funds, establishing a secure trading environment.
Year Founded: Since its establishment in 2017, BiKing Exchange has shown consistent growth and stability in the highly volatile crypto market. This longevity is a testament to its adaptability and commitment to serving its users effectively, building trust over time.
Reputation and Reviews: The exchange has maintained a positive reputation within the cryptocurrency community. User reviews often highlight the reliability, user-friendly interface, and the responsive customer support provided by BiKing, indicating a high level of satisfaction among its clients.
Trading Volume and Liquidity: BiKing Exchange supports significant trading volume and liquidity, ensuring that users can execute trades quickly and at desired prices. This capability is crucial for both casual and serious traders who need to manage their portfolios efficiently and capitalize on market opportunities.
Customer Service: The platform provides 24/7 customer support, ensuring that user queries and issues are addressed promptly. This commitment to customer service enhances user trust, as participants know they have continuous support for any issues they might encounter.

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Account Minimum

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And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token GT (GateToken)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Gate Technology Inc.

Biking Technology Co., Ltd

Regulation

Not regulated

Year founded

2013

Unknown

Founder

Lin Han

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Gate.Io	FEATURES	Biking
Minimum trade size is $10, making it accessible for small investors.	Minimum Trade	BiKing offers a reasonable minimum trade limit, accommodating both small and large traders.
Flat fee of 0.2% for both makers and takers, competitive in the industry.	Trading and Transaction Fees	The exchange boasts low trading fees at 0.01% for both makers and takers, promoting active trading.
Over 1,400 cryptocurrencies available, providing extensive trading options.	Number of Cryptocurrencies	While BiKing supports major cryptocurrencies like Bitcoin and Ethereum, it has a more limited selection compared to larger exchanges.
Supports a wide range of trading pairs, enhancing trading flexibility.	Crypto-to-Crypto Trading Pairs	Offers a modest range of crypto-to-crypto trading pairs, sufficient for mainstream traders but less so for those seeking variety.
Good security measures but lacks full transparency in some areas.	Website Transparency	BiKing provides clear information about trading fees and security measures but could improve on regulatory disclosures.
Gate.io does not currently offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Without a dedicated exchange card, users of BiKing Exchange may miss out on the convenience and rewards typically associated with such cards in the cryptocurrency space.
Utilizes both hot and cold storage, with the majority of funds kept offline.	Storage Offering	Utilizes secure cold storage solutions to ensure the safety of user funds against potential threats.
Offers various staking and earning opportunities with competitive returns.	Staking and Rewards	Offers staking options and rewards, although the range and returns are somewhat limited compared to competitors.
Robust mobile app available on iOS and Android, well-rated for Android users but mixed reviews for iOS.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and robust, offering a seamless trading experience.
Provides 24/7 support via live chat and email, though response times and quality vary.	Customer Service	Provides 24/7 customer support with good response times and helpful assistance.
Crypto deposits are free; withdrawal fees vary by asset, no fiat withdrawals supported.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though limited by the lack of fiat currency support.

Key features

Analysis tools

Advanced charting tools, technical indicators

Unknown

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

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

Social trading, copy trading, margin trading, futures contracts

Anonymity

Yes

Key points

Available cryptocurrencies

800+

50+

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.

Biking offers an intuitive platform with a user-friendly interface, ideal for beginners. The platform’s design ensures that users can easily navigate and execute trades without encountering unnecessary complexity.

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 reasonable value for money with competitive fees and a user-friendly interface, suitable for both beginners and experienced traders.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Germany

Best for

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

Ideal for both new and seasoned traders who want a user-friendly interface and competitive fees.

Base currencies available

USD, BTC, USDT

CNY, BTC, USDT

Account

Trading

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

Biking is a smaller exchange that provides basic trading functionalities. It’s suitable for beginners but may not meet the needs of advanced traders due to its limited tools and lower liquidity.

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.

Biking offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

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.

Biking’s account opening process is straightforward, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

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.

Biking offers customer support through email and live chat. The response time is generally quick, but the support team is not available 24/7, which may be inconvenient for some users.

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.

Biking offers robust security features, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors regarding the safety of their funds.

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 an expert on our website, I’d recommend BiKing Exchange for traders prioritizing security and low transaction fees. It’s particularly well-suited for those dealing primarily in major cryptocurrencies like Bitcoin and Ethereum. While the platform could improve by expanding its cryptocurrency selection and adding fiat currency support, its robust security measures and user-friendly mobile and desktop applications make it a solid choice for both new and experienced traders seeking a reliable trading environment.

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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.