Gate.io Cryptocurrency Exchange | Marie Tatibouet Interview (2020)
Marie Tatibouet is in a great position. She’s super smart, easy to talk to, engaged with her team and customers and has Gate.io growing like wild fire!
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When we first started out we really focused on providing a great user experience. So for example we are able to process 10,000 transactions per second. So you know, typically we only process like 1000. 10,000 is what like banks will process, but we can, our algorithm is that powerful. Our experience is seamless. We have 2 million users on our app.
The TraderCobb Crypto Show, talking business in blockchain.
Hello ladies and gentlemen welcome to the TraderCobb Crypto Show. Proudly sponsored this episode by zipmex.com.au. Get over and check them out. I’ve got somebody who is setting up and running an exchange. Marie, CMO of a gate.io, we’re going to have a chat about the exchange and all the exciting things that are coming out here in Malta and with the project, it is a pleasure to meet you.
Nice to meet you TraderCobb and hi everybody, gate.io is one of the oldest cryptocurrency exchanges. We’ve been around since 2013 and we will be hitting three million users by the end of this year. So–
What? Really? I didn’t know about this project, I didnt know about this exchange, where have you got your clients? Where is it at?.
We have clients from everywhere in the world. But when we first started out we were a mostly Chinese exchange. However, two years ago we expanded internationally, we translated into lots of languages and we now have a lot of international users.
Wow, three million users. That’s an insane amount going on. From 2013 of course, that’s like five decades in this space. This space moves so quickly. What are you guys doing at the moment? What are you focusing on to build that exchange out. To make it more user friendly? Or is it to offer more products or Tokens? What are you guys doing to connect with the next three million?
Got it. So when we first started out, we we’re really focused, back in that day, it was mostly retail traders. Since then we’ve had a lot of institutional investors come in and more higher end traders come in. But when we first sorted out we really focused on providing a great user experience.
So for example we’re able to process 10,000 transactions per second. So you know, typically we only process like 1000. 10,000 is what like banks will process, but we can, our algorithm is that powerful. Our experience is seamless. We have two million users on our app.
So we really focus on having that seamless experience. And then about a year and a half ago we started adding in all of the new features like margin trading, margin lending, derivatives trading, investment plans and it’s been, it’s proven really, really popular with all of our users.
The newest thing that we launched, and that has been incredibly popular, has been our HODL. Hold, right and earn. And with this functionality you’re able to take your funds and either stake them. So typically when you stake coins you have to run a special programme.
But on our exchange you can just, you know, simply input it with that functionality and you get a return directly from that. Or you can lock up your coins for a certain amount of time and you’re able to earn up to 30% annual returns per year. So that’s a lot.
And is that where you’re getting your liquidity for your margin trading, derivatives? We’ve got a lot of liquidity, we’ve been around for a really long time. It has been a bit easier and you’ve got the contacts right?
Yes and besides from that we also have a very advanced VIP system. So you know, if you’re trading a lot, you get like discounts on fees and stuff like that. And so that keeps all the liquidity providers interested to make sure that you know, they support us for the 200 plus cryptocurrencies that are on our exchange.
So okay, when it comes to the margin side, because I’m a trader, I love using leverage. I mean, the more leverage I can get the better. As long as there’s liquidity to go with that leverage. Slippage is the devil and I avoid the devil very, very much. So what products are you offering margin trading on and up to what level of, you know, margin leverage do you offer?
Right, so for margin trading we offer up to 100x. So you know that’s quite strong. And on all of the margin trading it is done Peer to Peer.
So we do not handle anything, we just take a fee. But it actually means that if you do margin lending, you can earn up to 73% annual returns per year. That’s not all the time of course.
If you were in a deal the whole time, right? Yeah, okay.
It depends, obviously when there is a surge in Bitcoin, people want to, typically want to borrow USDT to buy bitcoin and then they return it. And you can make a lot of money actually from just doing margin lending.
Wow, that’s pretty special. So what do you guys do in the way of helping other traders? Okay, so obviously my perspective is I’ve been trading for 13 years across multiple markets. Last two years I’ve been in crypto exclusively because the volatility is insane.
We educate people. We teach people how to trade. What are you guys going to do to help it become educated in the space on the platform?
So on one of our trading platforms for perpetual contracts we actually have a test net. So I think it’s really important because when you do perpetual contracts, you’re I mean, it’s very high risk. Right, so you want to make sure that you know what you’re doing.
So we really encourage anybody who’s not like a professional, professional trader to first try everything out on the test net. Yeah and you’re able to, you know, try things out. We also come out with like educational videos and stuff like that. And we’re always looking to pair up with like influencers to you know, kind of show how you can use the platform.
In general we’ve seen users find the platform easy to use. And everything can be automated for, you know, placing orders and stuff like that. So yeah, I think traders find the platform really great.
Now when you say automated, if I raise an order, can I have a stop loss linked to that order as well? Or is it buy first, stop loss goes in after? I mean like if I get triggered into the trade, the stop loss goes in. So I can raise an order and do this thing called sleeping and still feel comfortable.
Yeah. I believe that you can do that. Okay. Because that’s an important function for sure. Absolutely. So I mean, I didn’t realise you’d been out for so long. Obviously, you’re doing something right.
Where are you based out of? I mean speaking with a lot of exchanges as we do, it’s just interesting to see where they actually set up their shop. Where abouts are the most sort of, I guess, exchange friendly at the moment out there?
So we have offices in Korea, in Canada, in Malta, in Singapore and in China. And we serve our three million users in over 130 countries around the world. So we were closed for a while to certain countries. But we’ve reopened up because, you know, we’ve taken precautions when it comes to regulation.
So yeah, in general we’re taking a look at Southeast Asia is one of our biggest markets. I think in general one of the biggest markets in the industry.
Of course it is yeah. But we’re always looking to do new partnerships and explore new regions. How does it work in the States? Because I know that a lot of traders in the US are not allowed to access and do and they can’t trade with Bitmex.
Is there a way around that that you guys have found or is it just kind of a too difficult, too hard box? For US traders margin trading is closed. Unfortunately, but as soon as regulation comes up–
Bang. –We will definitely be adding that feature. I know it’s one of the most popular features. It’s wild too because I mean, in the US I can trade derivatives of anything really. I could trade stocks, shares, bonds, commodities. And I can use leverage and a great deal of leverage. Why would we see this space, crypto assests, as being anything different?
A market’s a market, I just don’t understand why they want to shut that down but everything else is fine. Sorry, I’m having a rant here, I think it’s just so ridiculous, but don’t come and chase me I’m a good guy, a nice guy. So what new and exciting things are coming up for gate.io?
So gate.io is a centralized exchange. But we are going to be launching our new Blockchain at the end of this year that will also be fueling our decentralized exchange. So one of the common misconceptions that we see in the industry is that, you know, people feel like centralized exchanges are, you know, trying to keep their funds and that couldn’t be further from the truth.
Because any quality exchange would rather you keep your funds in your own wallet because actually it provides us with, you know, more risk and more liability. So we always encourage users to keep funds safe. And so our blockchain, the real innovation is that there’s going to be standard wallet.
So you know, a typical wallet just like you see when you keep your BTC or you know, any other Cryptocurrency. But we’re also creating a vault account, a vault wallet and in this wallet you are going to be able to revoke transactions.
Revoke them? Revoke transactions. Well, okay, I know you’ve sort of got your flow going here and I apologise for interrupting. But is that going to cause issues when people sort of buy something and then take it back? How do we get around that? It’s a trust thing right?
Yes okay, so a very, very great question. We obviously recommend that when you trade for your vault account you trade to your standard account. From the standard account you will then trade with other people. This will be written in the tax ID, revocable transaction. So people will know that this transaction can be revoked.
But why is this important? The vault account is important because you can keep your funds safe. If hackers come in and steal your funds or if you are a little forgetful and you forget your private key, as long as you’ve signed up with GateChain and you know, put a password and stuff like that, you’re going to be able to revoke those transactions. You’re going to be able to retrieve those funds. So we are solving a huge industry problem.
Well that’s really exciting. I mean everything else we’ve spoken about is pretty cool. But that’s really, really exciting. To give the user that safety, that feeling of confidence around their own digital assets. Being safe and achievable, it really takes away a lot of the power that hackers have. So well done I wish you all the best with that.
Thank you so much. Now where can people find more information? Obviously gate.io check it out. Where else can they find you on socials and whatnot?
Yes you can follow us on Facebook or on Instagram, gate.io global. And we encourage you to go to gate.io to find out more about us. And if you’re really interested in GateChain you can download the test net right now. Go to gatechain.io and you’ll be able to find all the information there.
That you so much TraderCobb. Marie, CMO of gate.io it has been an absolute pleasure speaking with you thanks you for yor time. The name’s actually Craig I didn’t even introduce myself, apologies. Look at me go I’m having a shocker.
Enjoy the rest of your day ladies and gentlemen, speak soon, bye for now. The TraderCobb Crypto Show, talking business in blockchain.
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