What is a liquidity mining pool? We recommend that you get rewards and interest in the market right now. Gate.io is one of the most popular cryptocurrency exchanges in the world. Gate.io allows for various forms of trading, one of which is liquidity mining. What is liquidity mining in the first place? And how can you start trading on Gate.io? This article summarizes the above.
About Gate.io features and functions
Gate.io is one of the most popular cryptocurrency exchanges around the world. Many institutional investors participate and there is also a VIP program. The fees are also somewhat low and there are many traders. There is also a point system, which can be used like money within the exchange. Additionally, there is a chat room function where users can exchange opinions with each other. It is also very secure and has two-factor authentication.
Easy to buy and sell
Buying and selling virtual currency (bitcoin) is very easy. Withdrawals are in virtual currency, and deposits are in legal currency, remittance by scanning a virtual currency QR code, credit card, P2P, etc. API functions are also available. It can also be operated using a mobile app or web browser. There are portfolio and classic accounts, and you can also make transfers.
Wide variety of transaction formats
Gate.io allows a wide variety of transactions such as spot trading, futures trading (derivatives), grid bots, ETFs, margin trading, liquidity mining, etc. We handle major altcoins such as BTC, ETH, USDT, and DOGE. Earnings history is available for download. You can start trading cryptocurrencies in real time on the market.
Lots of events
Gate.io has a lot of bonuses and campaigns, and there are startup events, and you can get airdrops of newly listed coins by holding gatetoken tokens. The latest information can be checked on the official website. There is also a testnet where you can do demo trading.
What is liquidity mining?
Liquidity mining involves depositing cryptocurrencies to provide liquidity to the pool and receive rewards. By depositing cryptocurrencies at Gate.io, investors can earn commissions as yields when other users trade. Liquidity mining does not require difficult techniques or trading skills, so anyone can participate. Of course, since it is an investment, there is no guarantee that you will win 100% of the time.
How liquidity mining works
Liquidity mining in Gate.io makes it possible to make the following profits. Depositing cryptocurrency with Gate.io gives you the following rewards: By depositing virtual currency, you can receive a special reward of GT, which is a unique currency. Half of the 0.3% transaction fee will be converted to the native token GT and accumulated in the bonus pool. By the way, if there is a profit, the deposited virtual currency itself will be given, but it may or may not be depending on the token.
- transaction fee
- Original token GT bonus
- Deposited Token
Advantages of liquidity mining
The advantages of liquidity mining are:
Reward Harvest Fee
When liquidity mining makes a profit, there are no fees and users can withdraw for free. In a normal liquidity pool, there will always be a gas fee. But with Gate.io, no matter how much you withdraw, it’s free.
original token GT
As explained above, GT tokens are given as a reward. This unique token GT is on an upward trend and can be expected to rise in value in the future, so holding it has the potential to be a great advantage.
Disadvantages of liquidity mining
Of course, liquidity mining also has its disadvantages. It can be more troublesome than predicting and buying and selling with futures. There are live products that are different from spot, bots, staking, loans, and startup events. It is important to trade the market on the platform while watching news such as blogs and announcements. It is also important to monitor the market when exchanging at the exchange rate. The key is when to apply for payment or settlement.
Not 100% Profitable
It may seem obvious, but there is no guarantee that you will win 100% of your investment. Of course, sometimes you make a profit and sometimes you make a loss.
variable loss
Of course, liquidity mining also has the potential to lose money in price fluctuations. , the funds may be less than when the operation was started, so in this case you will have lost money. The value of virtual currency fluctuates according to market conditions.
Impermanent Loss
Impermanent loss means that the profit obtained by liquidity mining is less than the profit obtained by holding the cryptocurrency. In other words, there are cases where it was more profitable to just hold it without operating it in liquidity mining.
How to start liquidity mining
To start liquidity mining, you must open an account. The link below explains how to do this, so please refer to it. The original text in the image is in English. You can check the product details through streaming. The content is extensive, including deposits and withdrawals, so it is highly recommended. It is the exchange with the most tokens in the world. By the way, since it is a global exchange, it also supports the following languages.
日本語、portugal、中文、español、deutsch、frança、Українська、Русский、indonesia、türkçe、việt、tiếng
The following currencies are supported: USD, EUR, IDR, RUB, INR, TRY, CNY, VND, ARS, BRL, CAD, UAH, NGN, HKD, PGK, GBP, AED, THB, AMD, PKR, MYR , kzt, egp, uzs, ghs, bdt, php, twd, npr, ves, npr, byn, xaf, kes, mad, huf, ron, mxn, azn, xof, clp, clp, sek, dzd, zar, sar , tzs
Select Finance from the screen home. And choose liquidity mining.
Source : Gate.io
You can start by selecting a token pair and pressing the add button.
Source : Gate.io
Decide the order quantity, click the Add button, and you’re done. After that, you can see the rewards accumulate in your wallet. If the transaction becomes active and the token price rises, the reward amount will rise at once.
Source : Gate.io
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