Introduction to GateToken (GT)
Gate.io is one of the popular decentralized cryptocurrency exchanges in the world. The platform facilitates seamless trading of diverse digital assets – all while providing a user-friendly trading interface.
The platform also has a utility token, GateToken (GT), which is used for performing certain key functions on the platform.
Additionally, the platform has various referral programs, allowing users to earn passive income on the side.
But that’s not all. The platform processes withdrawals and deposits within seconds and also has a secure framework for the users. But what makes the GT token special for Gate.io platform?
Without any further ado, let’s discover.
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The Genesis of GateToken
During the month of April in 2018, Gate.io raised $64 million to launch its own token through Gate Points issuance. These Gate Points can be purchased through BTC, USDT, ETH, BNB, Huobi (HT).
GT, which was officially introduced on March 2nd 2020 as Gate.io’s designated exchange token, GateToken has remained significant within the Gate.io ecosystem.
With a continuously rising market capitalization and trading volume, GateToken has gained a lot of attention since being introduced as the foundational token of Gate.io.
The GT token stands out from the crowd due to its integration with the Gate.io ecosystem and resolute GateChain blockchain, allowing the exchange to evolve and normalize decentralization across multiple sectors.
How GateToken Works?
The GT token offers multiple use-cases for the users. First, the users can use their GTs to access different DeFi rewards by participating in yield farming, liquidity pools, and staking. Additionally, the token can be used as a medium of exchange on the Gate.io platform.
Since it’s the utility token of Gate.io, GT can be utilized to avail exclusive services on Gate.io, such as leveraged loans, P2P loans, wealth management services, currency trading, OTC trading, leveraged trading, and futures contracts.
However, the primary purpose of GT is to ensure smooth and seamless transactions on the platform, facilitating the exchange of digital assets within milliseconds. Moreover, GT holders can also lower their trading fees by using GT as a medium of exchange on the platform.
You can also stake using GateToken, which involves locking certain number of GTs to increase network security and decentralization while earning rewards.
In addition, GateToken holders also have voting rights, allowing them to have a say in key governance decisions of the platform.
GT Tokenomics
GT was initially launched with a total supply of one billion. To ensure its long-term value, a sizable portion (seven hundred million) was burned initially.
The tokens are burned to permanently remove them for the circulation. This helps to reduce the total supply of a particular currency, which consequently impacts on the token’s value.
If you’re interested, you can purchase GT on various exchanges, including the Gate.io exchange.
As of now, over 46.39% of 300 million tokens have been permanently eliminated from circulation since the token’s launch.
Besides that, 43.61% are in use and circulation while the remaining 10% are being used. An important piece of information is that over 15% of Gate.io’s operating profit has been used to buy back GT from the public.
Benefits of Holding GateToken
If you hold GT tokens, you can transcend to a VIP level on the Gate.io platform, which provides you access to exclusive benefits, such as low trading fees, high withdrawal limits, and quick transaction processes.
That’s not all! You will also get a dedicated account manager who’ll be there to assist you with your wealth management.
GateToken’s stablecoin offers users a convenient means to transfer funds between traditional financial institutions and the cryptocurrency sector, streamlining the path for traditional financial entities to integrate cryptocurrency into their operations.
Owning GateToken grants holders access to various exclusive and prestigious events that are periodically introduced, such as Vote Campaigns, Live Mainstreams, Discount Sales, and numerous other offerings.
Gate.io platform offers its users a Token Reward program that provides numerous benefits. Through the platform, users can easily collect tokens which they can use to reduce their fees. This can lead to a significant amount of savings, especially for frequent traders.
The platform offers attractive features that are ideal for traders irrespective of their skills and experience level. The platform offers advanced features such as derivatives and supplementary tools thereby improving and enhancing the trading experience. Hence, users who are eager to earn profit from the crypto market prefer to use their features.
Acquiring and Storing GateToken
1. Use a Hardware Wallet
A hardware wallet functions as a physical protection for your cryptocurrency as it ensures that your GT’s are safe and secure by storing them offline. Unlike software wallets that are susceptible to hacking due to their online connectivity, hardware wallets remain disconnected from the internet, rendering them impervious to remote access by malicious actors.
2. Enable Two-Factor Authentication
Two-factor authentication (2FA) requires two forms of identification to access your account. This ensures that even if unauthorized individuals obtain your login credentials, they cannot access your account without the second form of verification.
3. Regularly Update Your Software
If you frequently update your software, it adds extra security measures thereby eliminating the chance of any attack by hackers.
Steps to buy GateToken on Gate.io
- Firstly, you must create an account on Gate.io. In case, if you already have an account on Gate.io, just log in with your credentials.
- In the second step you must ensure that you have completed KYC and security verification.
- In the third step, you must choose your preferred method to buy GT. You can buy GT at the current market price or set a predetermined buying price.
- In step 4, your purchase of GT will be successful, and it will be added to your wallet.
In case you want to purchase Gatetoken from other exchanges, here’s how you can do it:
- Register on a centralized exchange (CEX) just like you register on for instance Binance.
- Verify your identity and secure your CEX account, including enabling Two-step Verification for added protection.
- Purchase USDT, ETH, or BNB using fiat currency through the CEX’s OTC service or financial platforms like PayPal or Robinhood (for US residents).
- Transfer acquired USDT, ETH, or BNB to a CEX supporting GT trading in the spot market.
- You can trade GT using USDT or ETH within the spot market of CEX.
GateToken’s Role in Gate.io’s Broader Strategy
The foundation of the Gate.io ecosystem, GT gives users a variety of benefits. The integration of GT into Gate.io’s trading platform has allowed users to take advantage of exclusive events, save on trading fees, and enhance their VIP status.
Additionally, the launch of Gate.io blockchain, GateChain, has also caused a significant improvement in the platform’s infrastructure.
The launch of GT tokens has allowed Gate.io to raise funds, which allows the platform to invest in R&D. Such investments can allow Gate.io to come up with new innovations aimed at improving user experience.
Another key role of GT on Gate.io strategy was the launch of a token reward program which maximized user engagement by up to 20%.
This program has fostered a community of Gate.io where users interact and pool in their suggestions to improve Gate.io architecture.
Market Analysis: GateToken’s Performance
The performance of GT improved in 2023, when the spot and contract trading volumes accumulated to over $590 bn and $1.1 trillion, respectively.
These numbers exhibit the trading activity on the platform and popularity of GT’s token. If we consider these numbers, then it’s expected that GT’s price will witness an uptick in the near future.
Coming towards the market performance of GT, it surpassed many platform coins, exhibiting a remarkable increase of just over 100% in the past year.
Comparatively, the value of several competing platform’s Token witnessed a downfall for instance, BNB decreased by 21.58%, FTT by 15.55%, and HT by 51.84% while others had a tough time matching GT’s performance.
Comparison of Gate.io with Kraken
| Features | Gate.io | Kraken |
| Trading Pairs | 2246 trading pairs. | 426 trading pairs. |
| KYC | Requires KYC for major transactions. | Requires KYC for all transactions. |
| Ideal For | Beginners. | Traders |
| Deposits/Withdrawals | Supports only cryptocurrency. | Supports cryptocurrency and fiat services. |
| Trading Experience | Gate.io offers more than 1400 trading assets, high liquidity, and a user-friendly interface. | Offers Live chat support, great mobile trading experience. Also offers a curated list of supported currencies. |
Future Roadmap and Prospects for GateToken
The future prospects of GT are bright. It’s reported that the utility token will have multiple use-cases in the future. For instance, users will be able to use it for margin and future trading in the foreseeable future.
Since it’s a token with a fixed supply, it’s expected to rise in value as more and more GTs are burned in the future. As per several analysts, the BTC halving will also have a ripple effect on the prices of different altcoins, including the GT token.
Therefore, it’s expected that the price will rise in future and interested investors can generate promising returns on their investments.
Conclusion: The Impact and Future of GateToken
Gate.io is undoubtedly one of the popular cryptocurrency exchanges around the world. The popularity of the exchange will definitely have a profound impact on its native utility token.
Also, Gate.io is being used by millions of users around the world. Since GT offers numerous low-cost benefits, it’s expected that GT demand will outrun the supply, creating a positive impact on its market value.
In short, it’s safe to say that GT is a promising token with a significant upside potential.
We Coin-Labs.com provides only objective information about GateToken (GT).
Therefore, we are not responsible for the investment decision in GateToken (GT) and the resulting loss.
GateToken (GT) Basics
Here are some factors that investors should consider before investing in GateToken (GT).
| Cryptocurrency Features | GateToken (GT) () |
|---|---|
| Publisher or Developers | |
| Headquarters (Registration Number) | |
| Symbol | |
| Platform | |
| Published Date (CMC Registration) | 2024-10-02 |
| Max Supply | 958,691,258,152,859 |
Reliability Score of GateToken (GT) in 2024
These are indexes mesuring the investment reliability of GateToken (GT) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 0 Exchanges |
| Number of Available Pairs Worldwide | 1 Pairs |
| Market Cap of the Cryptocurrency | 6,683,329 USD (Rank #1295) |
The table above shows the result of investment suitability evaluation for GateToken (GT).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
GateToken (GT) Price
Here are the price and recent trading volume of GateToken (GT). (Data of 2024-10-03 00:15:00)
| Price Items | Price and Trading Volume of GateToken (GT) |
|---|---|
| GateToken (GT) Price | 0.000 USD |
| Price Change 24h | -5.48% |
| Price Change 7d | -4.99% |
| Trading Volume 24h | 11 USD |
| Trading Volume Change 24h | -82.47% |
Cryptocurrency Metadata
You can check the development status and social media information of GateToken (GT) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy GateToken (GT)
Here are the top ten world crypto exchanges where traders can buy GateToken (GT) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Not listed | |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of GateToken (GT)?
GateToken (GT) price today is 0.000 USD. Furthermore, the price of GateToken (GT) has fluctuated by -5.48% from 24 hours ago, and by -4.99% from a week ago.
Where is GateToken (GT) listed?
Currently, it is listed on a total of 0 among the world top 10 exchanges.
What is the market cap of GateToken (GT) now?
Currently, GateToken (GT) has a market cap of 6,683,329 USD, which is ranking 1295 among cryptocurrencies worldwide.
How much is the trade volume of GateToken (GT)?
Currently, 0 coins are circulating through 1 market pairs. As a result, in the last 24 hours, 11 USD of coins were traded in the market.
