Gate Group, the parent company of renowned crypto exchange Gate.io, has reportedly applied for a new cryptocurrency license in Hong Kong. The crypto license will enable the group to launch its presence in the city through "Gate HK", a new platform dedicated to [Hong](/news/article/wow-summit-hong-kong-flagship-event) burgeoning crypto market.

Gate.io joins a growing waiting list of prominent cryptocurrency exchanges that have applied for crypto trading licenses in Hong Kong. The list includes market leaders like Huobi Global, OKX, and Bitget. 

## Gate.io joins a growing waiting list

The [announcement](https://www.prnewswire.com/news-releases/gate-group-confirmed-applying-for-new-crypto-license-in-hong-kong-301753044.html) is hot on the heels of a statement that the local government was injecting at least $6.4 million into the city's Web3 ecosystem under the 2023-2024 budget.

The government will use the [Web3](/news/article/web3-games-raised-millions) budget to organize seminars, arrange workshops to educate the public, and encourage business cooperation. In his budget speech, the city's financial secretary, Paul Chan, confirmed the Web3-related funding and creation of a crypto task force.

According to Chan, several companies were considering opening shop across the city owing to the friendly crypto regulation. He reiterated the importance of keeping up with the times and seizing the opportunity to spearhead innovation development.

[Dr. Han Lin](https://twitter.com/han_gate/status/1627865433880825857), the founder of the Gate Group, is on record referring to Hong Kong as a digital asset hub and global strategic market because of its crypto industry-leading regulatory regime.

Hong Kong’s Securities and Futures Commission (SFC) [announced on 20 February](https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=23PR5) that it was already collecting public opinions on plans to regulate the crypto industry effective from June this year. Chan stated that the task force he will lead would comprise market participants and financial regulators, who will offer recommendations on the sustainable and responsible development of the crypto sector.

## Access to an extensive library of cryptocurrencies

Founded in 2013 and headquartered in the Cayman Islands, Gate.io is a leading cryptocurrency exchange giving users access to a comprehensive library of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and many others. The platform also offers numerous [trading options](/news/article/simple-cryptocurrency-trading), including futures, margin, and spot trading. 

Users relish the exchange’s intuitive, user-friendly interface that presents an array of tools that helps them analyze market trends to make educated trading decisions. Gate.io boasts robust security measures, including cold storage for user funds, two-factor authentication, and 24/7 customer support.

As more players line up to enter Hong Kong’s crypto space because of the government’s intervention, it is hoped the move will open the space further, create more jobs, and improve the economy.


hong kong skyline in blue with gate.io logo

Gate.io to make Hong Kong Web3 Debut

Cryptocurrency exchange [Gate.io](https://www.gate.io/) recently announced it has topped a record 10 million users worldwide. Now we will answer the question, 'how to price my NFT on Gate.io'.

In June 2021, the company added NFT Magic Box to its portfolio. It’s a project that enables its users to create and trade non-fungible tokens.  

## How to Price My NFT on Gate.io - Getting Started

One will need a verified account to start trading on the NFT marketplace at Gate.io. The user only needs a name, email address, and password. After the user submits a personal document for identity confirmation, the account becomes verified.

On a homepage dashboard, the user needs to go to the ‘NFT BOX’ field, where a dropdown menu with numerous options can be found.

The user then selects the ‘NFT Markets’ section to delve into the given market available on the platform.
The portfolio includes some famous brands, such as Bored Yacht Ape Club, mystery boxes, Meta Dogs, and others.

If a user, for example, wants to buy a certain token but cannot find it after scrolling, it's important the remember the so-called 'heart' option where the user clicks the outlined heart in the right corner of each widget to 'like' the NFT.

‘Liking’ the NFT will store it within ‘My Favourites’ and, if needed, be ‘added to collection’.

## How to Price My NFT on gate.io When There is No Sale Price?

If you found an[ NFT](/news/category/nft-news) that you like, but the price of this digital item isn’t available (or visible), it usually means that the asset is not listed and that the owner doesn't intend to sell it. However, there is an option you could still own it, and it comes in the form of the 'Offer' button.

As you click the tab, you can put your offer – the amount you are ready to pay for the certain non-fungible token you want to possess. After you input the ready amount, you set the duration of time you are prepared to wait, in case the owner (or the creator) changes their mind. The owner can then either accept or reject your offer.

If the offer is rejected, then it usually means the person who has it doesn't have the intention to sell it.
Still, if the owner accepts the offer – the transaction will be automatically executed.

However, there are situations where a certain piece has an assigned price, but that can only mean that the owner is ready to sell. If you are the interested buyer, you will be presented with two options - 'offer' and 'purchase'.

If you decide to purchase, this will mean you are accepting the given price. However, if you choose to make an offer, you can also suggest a lower price. In the situation where other bidders don't offer higher amounts - the seller can choose to sell the piece to you. 

It's very much like other web-based bid services, such as eBay, where placing a bid is typically most common in the event you're in a bidding war with other bidders. Either way - the highest bid wins.


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