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GateToken(GT) Online with Wigwam crypto app
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How to buy and hold GT with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for GateToken (GT) storage
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GateToken (GT) token review
GateToken (GT) is the utility coin of Gate.io a global exchange that supports a diverse selection of cryptocurrencies and trading pairs. Gate.io developed GateChain, an EMV-compatible blockchain, creating a secure, efficient, and decentralized ecosystem for digital asset trading, distribution, and storage.
About the GateChain Network
In 2018, Gate.io introduced GateChain, a public blockchain with security features that safeguard crypto assets and prevent the loss of private keys. It offered users high-speed decentralized trading through efficient order and trade matching in a peer-to-peer manner, ensuring enhanced transparency, security, and integrity in global real-time digital asset trading. Two years later, Gatechain introduced HipoDeFi, simplifying chain swaps and ensuring secure transfers across compatible blockchains through GateBridge. In 2021, NFT Magic Box emerged as a fee-free haven for artists. Partnering with Bored Ape Yacht Club (BAYC) and NBA legend Allen Iverson, the NFT Magic Box hosts a gallery of high-quality creations.
In 2019, GateToken (GT) was issued as the utility token for the Gate.io crypto exchange the following year. There are various CEX services where the token can find utility, including Over-the-counter (OTC) and digital currency trading, futures contracts, and various derivative products like wealth management, P2P and leveraged loans. Also, GT holders can enjoy fee deductions and VIP level upgrades on the exchange.
The GateToken (GT) token use cases
- Commission Fees: Users pay commission fees on the Gate.io cryptocurrency exchange using the GateToken (GT) token.
- Transaction fees: Gate token used to pay transaction fees on Gatechain
- Hold & Earn: The Gate.io exchange’s HODL&Earn offers multiple avenues for users to generate passive income by holding GateToken (GT) in their wallets. Users can earn monthly interest through lock-up programs that provide attractive returns without early withdrawal penalties or fees.
- GateChain DeFi: GT holders can use their tokens to earn DeFi rewards on GateChain by engaging in activities like staking, adding tokens to liquidity pools, and yield farming, with transaction fees settled in GateTokens.
- Staking: Staking GT tokens empowers users to become validators, ensuring network security and processing transactions for a portion of the transaction fees, paid in GT tokens. Rewards depend on the size of users' stake and staking pool performance.
- Listing Vote: GT holders can actively participate in the voting program for projects that await listing on Gate.io exchange. Users can view and vote all active tokens, and each GT token they submit will count as 1 vote. The weight of your vote depends on the amount of tokens you submit.
Economic value
The current circulating supply of GateToken (GT) tokens is over 96.4 million out of a total supply of 300 million, with a live market cap of $461,314,781.
The initial distribution of GateToken (GT) tokens included allocations as follows: Gate.io users (30%), Research and Development (20%), Main network POS mining or holding rewards (20%), Community Development Foundation (20%), and Marketing promotion and Expanding (10%).
Gate.io allocates 20% of its operating profit to GT's buyback and burn initiative, where a certain number of tokens are manually purchased and removed from circulation. 75% of the tokens are purchased from open markets, while the remaining 25% is sourced from the reserve for marketing and ecosystem growth. Over 160 million tokens have been burned through this process since 2019 and the project commits to publishing burn transaction details every 3 months to maintain transparency. Every four years, the GT buyback ratio is adjusted based on the industry conditions and market performance.
GateToken (GT) holders can stake on GateChain to gain exclusive early access to tokens before they're listed on Gate.io. The current price is $4.77 per GT token, determined by demand and supply, and market news.
Challenges
In 2023, many people withdrew their funds from Gate.io crypto exchange due to rumors of insolvency connected to the cross-chain router protocol Multichain (MULTI). Despite Gate.io refuting insolvency claims and assuring users of fund security, these rumors might influence GT tokens long-term viability, which depends on the exchange's performance and success.
Disclaimer
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
FAQ
To buy GateToken (GT) you may use Wigwam crypto wallet or user-friendly crypto exchanges like Gate.io, Binance, and HTX (Huobi). Visit their official websites, create an account, and proceed to purchase the token. Also, GateToken (GT) is available on the Bitfinex exchange.
To successfully stake GateToken (GT), follow the below steps:
- Download and set up a trustworthy wallet that supports GT staking, such as TokenPocket, MetaMask, or GateToken Wallet
- Buy GT tokens from cryptocurrency exchanges like Binance or Gate.io and transfer the assets to your staking wallet.
- Once your assets are in the wallet, "lock" or "delegate" the GT tokens to a validator.
- Access the staking section within your wallet to explore available staking options
- Select a validator based on considerations like reputation, uptime, and performance
- Enter the amount you want to stake and confirm the relevant details.
- Initiate the staking process and await confirmation from the chosen staking pool
- Stakers can earn rewards based on the staking amount, duration, and the selected pool performance
- Maintain an internet connection on your wallet as staking GT requires ongoing connectivity.Yes, you can stake AXS in the Axie Infinity’s staking pool and earn rewards.
Effortlessly keep track of GT activities by using blockchain explorers like Etherscan and GateChain Explorer. Etherscan offers insights into GT price, transfers, holders, and token contract overview, while users can monitor daily price, total delegates, and the latest block and transaction history on the GateChain Explorer.
To seamlessly add GT tokens, utilize crypto wallets like Metamask, TokenPocket, or GateToken Wallet, compatible with GateChain. For Metamask, install the wallet, access settings, choose the network, and select GateChain Mainnet (GT) from the dropdown menu. Once connected, click "Import Tokens," search for GT, and import your assets. If your assets are not visible, follow the manual process. Click "custom token," enter the GT token address (For Ethereum: 0xe66747a101bff2dba3697199dcce5b743b454759), input "GT" for the symbol and "18" for decimals. Confirm the details, and your GT assets will be visible in the wallet.
The value of GateToken (GT) is subject to volatility and, like other digital assets in the crypto market, may experience declines in a short period. Also, the valuation of GT tokens is subject to the performance and success of GateChain and the Gate.io exchange.
