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GateToken: Everything you need to know

GT

Source: YouTube

The cryptocurrency industry has come a long way since it was first introduced a couple of years ago. The crypto world has been a huge success lately and proved to be more than successful in luring in potential investors from all across the globe and has also managed to make a name for itself in the global marketplace.

Having said that, I believe, most of you are already familiar with the basics of the industry but, if for some reason that is still not the case, let me help you with that first.

To begin with, cryptocurrency is simply a blockchain-based platform that is decentralized to its very core. Now, being decentralized, the industry becomes more than capable of stepping outside the control and jurisdiction of central authorities and can work freely without any unnecessary government interference as well.

Also, this virtual asset of yours can easily be used for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over crypto exchanges available online.

Since it was long ago and most of you must have recently joined the crypto world, you must not be aware of the fact that, when the industry was first introduced, there were not many currencies you could have chosen from, and honestly, not many investors were lining up to be a part of it either.

However, it surely isn’t the case anymore as looking around today, you see a pool of currencies to pick from, with newer ones coming in with each passing day and a lot of new investors joining in every hour.

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Ethereum, Polkadot, Binance Coin, Bitcoin, PancakeSwap, Dogecoin, Cardano, EverGrow Coin as well as Baby Doge to name just a few of course.

Since the industry has had a surge in its growth and popularity recently, one thing that comes to mind is the reason for all of this to happen so rapidly. If so, some of the major contributing factors for this huge success of the crypto world include its portability, negligible response time, high-profit margins, ease of use, intuitive nature as well as volatility of course.

GT

Source: Blockchain News

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, GateToken. To know more, I suggest you read further!

Everything to know about GateToken (GT)

GT

Source: Medium

GateToken or as commonly referred to as GT is nothing but a unique token of the Gate.io exchange and its very own native public chain, GateChain, being known to provide a high-performance trading experience to users on the platform with incredible features including fast transactions as well as significantly lower fees.

In other words, GT is the native utility token of the GateChain mainnet and was said to become an exchange token of Gate.io formally on March 2, 2020, with the new name ‘GateToken’. Ever since then, GT is said to have been developing together with Gate.io. Speaking of GateChain, it is simply a blockchain that has been designed in order to handle abnormal transactions and is known to prevent the theft of assets.

Not just that, with the help of GateChain, the user’s vault account can easily be used as an emergency clearing mechanism if there are any problems with respect to asset safety or private key loss on their end. Apart from this, decentralized trading will also be supported by GateChain along with other core features such as cross-chain transfers and many more.

Basically, Gatecoin is nothing but a pubic blockchain that has been dedicated to the security of assets and GT is said to be the decentralized currency of the GateChain ecosystem. In addition to this, GT is used to pay transaction fees that are incurred on the GateChain network, and customers on the platform can also invest in a wide variety of virtual currencies as well as blockchain products with the help of GateToken, which is the primary currency of the stock market.

GT

Source: Bitcoin News

Moving further, GateToken as mentioned is the unique cryptocurrency-based asset of the Gate.io exchange and is said to have the same logic as the Binance exchange’s very own BNB Coin. Not just that, GateToken is located on blockchains such as Binance Coin (BNB) blockchain, Bitcoin (BTC) blockchain as well as Binance Smart Chain (BSC) blockchain for that matter.

The GateToken has been developed over the past few years to allow traders to take advantage of all sorts of benefits including zero commission rates per transaction fees as well as superfast processing times when using this integral part of Gate.io website services by simply holding it within your account wallet balances at all given time during each round you log into.

Furthermore, since it all comes down to Gate.io, let’s have a quick look at what it is. To begin with, Gate.io is the latest cryptocurrency exchange to hit China, gaining a foothold in 2017 and taking its spot as an unlicensed platform that has been said to be a significant part of Gate Technology Incorporated. In general, the said exchange is known to provide almost all the popular cryptocurrency-related services in today’s market like liquidity mining, trading as well as RTF.

Circling back to the topic, GateToken is the utility token that is known to belong solely to Gate.io exchange’s platform for use in daily trade operations on their site or any other partner’s site for that matter, that they form partnerships with down the line.

Now that we have talked much about GateToken, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in GateToken (GT)

GT

Source: Binance

As of today, the price of GateToken is about 7.13 US dollars with a twenty-four-hour trading volume of 6,303,335 dollars. Not just that, in just the past twenty-four hours, the value of GateToken has gone up by 0.95 percent, and with the current market cap of 557,415,053 US dollars, GT is currently placed at #128 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of GateToken is nearly 78,177,012 GT coins but unfortunately the maximum lifetime supply of the token is not yet available. In just the past week alone, the price of the platform has risen by 21.26 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in GateToken is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that GateToken can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said or sure!

GT

Source: Twenty20

If still not convinced, see it this way that, if say you buy GateToken worth a hundred dollars today, you will receive nearly 14.101 GT. According to the analysis done by experts on the field, after five years of your investment, the return is expected to be about +372.93 percent and thus, your current hundred-dollar investment will be nearly 472.93 US dollars in 2026.

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, GateToken does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy GateToken? Let me help you with that. Currently, GateToken is available on all major crypto exchanges but, some of the popular exchanges that have GT listed on them include FTX, Huobi Global, Gate.io, HitBTC as well as Pionex to name a few.  

In conclusion, what are your thoughts on GateToken? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: API3: Everything you need to know

 

 

 

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