Comparison of Gate.Io vs Yellow Card [ 2024 ]

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

Your expert: Alejandro Borja

Gate.Io

Your expert: Xavier Tarrasó

Yellow Card

Main points

Fees

0,20%

Earns

Customer service

4/5

hidden

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

3.8 – Reasonable fees with strong local support in Africa.

Level

0,20%

hidden

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 However, withdrawal fees vary depending on the cryptocurrency being withdrawn.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

Yellow Card’s fee structure is designed to be straightforward and competitive, particularly catering to its primary audience in Africa. The platform charges a nominal fee on transactions, which varies slightly depending on the payment method used and the specific fiat or cryptocurrency involved. These fees are generally on par with regional standards and are structured to encourage frequent small transactions, which is typical among its user base. This makes Yellow Card an appealing option for users who value transparency and affordability in their trading activities.

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

Yellow Card

Focus on African Markets: Yellow Card specifically targets African users, understanding and addressing the unique financial challenges and needs in the region, which highlights their commitment to their user base.
Reputation and Reviews: Despite being relatively new, Yellow Card has garnered positive reviews for its user-friendly interface and the ease with which users can trade cryptocurrencies, which is crucial for building trust among new entrants to the crypto space.
Customer Service: Yellow Card places a strong emphasis on customer support, ensuring that users have access to help whenever they need it. This is especially important for users new to cryptocurrency, making the platform more approachable.
Security Methods: The exchange employs robust security measures to protect user accounts and transactions, which is fundamental for user confidence in handling digital assets.
Year Founded: Having been established in 2016, Yellow Card has had time to develop and refine its services, gaining valuable experience and insights into the market, which help in providing reliable and effective services.

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Product selection

Native token

Token GT (GateToken)

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Gate Technology Inc.

Yellow Card Financial

Regulation

Not regulated

Year founded

2013

2016

Founder

Lin Han

Chris Maurice

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Gate.Io	FEATURES	Yellow Card
Minimum trade size is $10, making it accessible for small investors.	Minimum Trade	Yellow Card supports relatively low minimum trades, making it accessible for beginners who might want to start small.
Flat fee of 0.2% for both makers and takers, competitive in the industry.	Trading and Transaction Fees	The platform offers competitive fees, though not the lowest in the market. This could be more attractive with clearer fee structures.
Over 1,400 cryptocurrencies available, providing extensive trading options.	Number of Cryptocurrencies	Offers only a limited selection of cryptocurrencies, which could be a limitation for those looking to trade beyond the most popular coins.
Supports a wide range of trading pairs, enhancing trading flexibility.	Crypto-to-Crypto Trading Pairs	Limited trading pairs are available, focusing primarily on major cryptocurrencies, which restricts trading strategies.
Good security measures but lacks full transparency in some areas.	Website Transparency	Yellow Card’s website provides clear information about their services and fees, enhancing user trust.
Gate.io does not currently offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Yellow Card lacks an exchange card, missing an opportunity to extend additional benefits and conveniences to its users.
Utilizes both hot and cold storage, with the majority of funds kept offline.	Storage Offering	Provides secure storage options, though details on cold storage or insurance would enhance user confidence further.
Offers various staking and earning opportunities with competitive returns.	Staking and Rewards	Offers basic staking services but lacks the variety and competitive rates found on more established platforms.
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 highly functional, suitable for traders on-the-go or at home.
Provides 24/7 support via live chat and email, though response times and quality vary.	Customer Service	Generally responsive and helpful customer service, although peak times can see slower responses.
Crypto deposits are free; withdrawal fees vary by asset, no fiat withdrawals supported.	Deposit and Withdraw	Supports multiple deposit and withdrawal methods, though some users may find the options limited compared to larger exchanges.

Key features

Analysis tools

Advanced charting tools, technical indicators

Basic buying and selling, no advanced tools

Mobile APP

Yes

Security

High 4,9/5

High 4,5/5

Additional features

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

Crypto-to-fiat services, bill payments, mobile top-ups, staking

Anonymity

Yes

Key points

Available cryptocurrencies

800+

Few, primarily major cryptocurrencies

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.

Yellow Card 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 Africa, making it a good choice for regional users.

Countries of operation

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

Nigeria, South Africa, Botswana, Kenya, Ghana

Best for

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

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

Base currencies available

USD, BTC, USDT

Multiple local currencies, 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.

Yellow Card is a popular exchange in Africa, offering easy fiat integration and a user-friendly platform. It supports a good 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.

Yellow Card is popular in Africa, 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.

Yellow Card provides a straightforward and user-friendly account registration 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.

Yellow Card 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 Africa.

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.

Yellow Card employs comprehensive security measures, including 2FA and cold storage. It is regulated by African authorities, ensuring high security for 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 an expert closely analyzing Yellow Card, I appreciate its focused approach to serving the African market. Its user-friendly interface and support for local payment methods make it an excellent choice for newcomers. However, I recommend potential users consider the limited variety of cryptocurrencies offered. This platform is ideal for those starting their journey in crypto trading or those who primarily deal with major cryptocurrencies.

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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.