Gatehub is a digital wallet operating a built-in exchange that permits its users to exchange, store, or send cryptocurrencies. Started in 2014, Gatehub is a UK-based company whose wallet is supported in Australia, Canada, the UK, the European Union, and the US. The wallet uses industry standard algorithms to encrypt every password and private key used on the platform. Gatehub has no limits as to storing and withdrawing funds, and it’s compatible with a good number of currencies, including the USD, CNY, JPY, BTC, and Ripple. Gatehub also provides a platform for coin-to-coin exchange on the Ripple Network. The primary goal of the Ripple Network is to have a platform that provides smart contracts in the much anticipated fintech (financial technology) development. Ripple is meant to disrupt the entire payment system through the facilitation of real-time cross-border direct payments and connecting global financial institutions. The Ripple Network offers a gateway for accepting deposits in form of a currency and issuing balances in the distributed Ripple ledger. In addition, the platform allows users to send supported currency payments through personal channels such as a ripple address, an email, and a wallet name. My Gatehub review found that the wallet is user-friendly and the website is very simple to use. This makes it perfect for beginners. One of the best features is that it not only supports multiple cryptocurrencies but real-world money too! Yes, that’s right — it supports fiat currency, such as USD, etc. The Gatehub wallet was originally built to support Ripple (XRP), but now it supports a total of 8 different coins, which I have listed below. The Gatehub wallet also has an inbuilt payment gateway that allows you to deposit real-world money! Before you can do this, you will need to go through a verification process, which will require you to enter your personal information and then upload copies of your ID and proof of address. Be warned that it can take a few days before your account is verified, so if you need to buy coins quickly you should consider depositing a cryptocurrency instead. If you are happy to do this, you can fund your account using a bank account, which can be through SEPA or SWIFT. At the time of writing, the payment gateway supports USD, EUR, CNY, and JPY. Overall, the availability of both cryptocurrencies and fiat money, as well as the platform being really simple to use, makes Gatehub a great choice for beginners. So now that you know what the Gatehub wallet can do, the next part of my Gatehub review is going to look at their customer support Customer Support My Gatehub review has established the Wallet providers do not normally have customer support, but because Gatehub also has an exchange, there are various ways in which you can contact them. The easiest way to do this is to send the team an email. However, according to online reviews, the support team is very slow to respond. The Gatehub team is also on various social media platforms, such as Facebook, Google+, Twitter and LinkedIn. Although the platform has a support team, it is important to remember that if you lose both your authentication key and password or your funds are hacked, there is nothing that Gatehub can do. Gatehub Fees
My Gatehub review has established the wallet charges 0.00 BTC for Bitcoin-related deposits, 0.00 ETH for Ethereum deposits and 0.1% for deposits in fiat currency. Deposits relating to international wire attract a minimum fee of $15. Most withdrawals of crypto coins on the platform are free, but not for all the coins. These fees are subject to regular changes. When using Gatehub to store Ripple (XRP), you will need to hold a minimum of 20 XRP. You will not be able to use these coins in any way, as it is simply to activate your wallet. For example, if you transfer 50 XRP to your Gatehub wallet, you will only be able to use 30 XRP. This is the same system for all Ripple wallets, so there is no way of avoiding this! Other than this, there are no Gatehub fees for sending and receiving funds, other than the blockchain transaction fee. The platform makes their money from trading, deposit and withdrawal fees Gatehub hack In 2017 there was a security issue that resulted in people having their coins stolen. The Gatehub centralized servers were hacked, which allowed the criminals to get away with more than $5 million in cryptocurrency. According to various users, Gatehub said they would not refund the stolen funds. The official Gatehub statement about the hack that happened is as follows: “No funds were stolen from the user’s wallets. Gatehub discovered that a criminal had exploited a flaw in an auxiliary deposit processing service all transactions were honored in full. True there are claims that funds went missing but that was from personal account hacking”. The reputational damage to the wallet due to this hack was big but it didn’t discourage people from using and joining the wallet. Safety review of Gatehub My Gatehub review found out, to help protect your Gatehub wallet, the platform has installed certain security features. Firstly, you are advised to set up Two Factor Authentication, which will require you to enter a code that is sent to your phone every time you attempt to log in which includes email authentication and Google authentication. Furthermore, if you try to log in from a new IP address or device, you will be required to re-confirm your email address. The platform also encrypts all of its data, which further protects your personal information. Gatehub can never access your private keys as they are stored on a separate server to the main platform. These security controls are what make this wallet one of the most secure pieces of tech for holding cryptocurrency. Although this also adds an extra level of security, it also means that if you lose them, you will never be able to recover your funds. Pros of using Gatehub My Gatehub review has established the biggest advantage of GateHub is that on it clients can directly change cash for Ripple or other digital coins. The supported fiat currencies are USD, EUR, CNY and JPY. Besides, the exchange accepts payments with bank transfers, including SEPA (Single Euro Payments Area) transfers. Gate Hub’s trading fees range from 0.2% to 0.3% per transaction, depending on the instruments traded. Such pricing is not that high, when compared to what other exchanges charge. However, many similar venues have lower trading fees In addition to Ripple, GateHub offers trading in BTC, BCH, ETH, ETC, REP, DASH,
QAU, XAU, an XLM. Its portfolio is not as rich as the one offered by , for example, still be there are many exchanges who only offer trading in Bitcoin. The trade page до GateHub includes all of the required elements as other exchanges. It is easy to use, with a functional order book, order history, price and market depth charts. Besides, mobile apps for Android and iOS are also available. GateHub offers ripple wallets where transactions are recorded on the public ripple ledger. Keep in mind that ripple wallets demand a minimum reserve that can not be withdrawn, and require 20 XRP to become operational. Lastly, GateHub is a cryptocurrency exchange based in the UK and it seems it offers its services throughout the EU. There are no specific EU requirements for the cryptocurrency exchanges yet, except that they apply KYC and AML procedures, but this regulatory area is still unclear. Cons of using Gatehub My GateHub review has established most exchanges, where deposits in cryptocurrencies are free, GateHub charges coin deposit fees which are not to be underestimated. For example, deposits in BTC incur a fee of 0.00053 BTC, those in Ethereum, 0.011 ETH. Of course, deposits in fiat are also charged: 0.1 %, min. fee $15.00 for International Wire Deposit. The good news is that SEPA deposits are free. As regards SEPA withdrawals, they are charged 1.00 € or 8.00 € (depending on the amount), while withdrawals in crypto vary, depending on the asset: 0.005 BTC, free for ETH and ETC. Like most cryptocurrency exchanges, GateHub does not provide leverage to its clients. There are a lot negative reviews about GateHub on social media and the web lately and even rumors that the exchange has turned into scam. Many users complain of slow ID verification, delayed transaction times, slow or unresponsive customer support, etc. As we have stated above, transactions in GateHub’s ripple wallets are recorded on the public ripple ledger. This means that the exchange is not holding a store of credit for its clients separate from the ledger that could be stolen in a hack. Conclusion of my Gatehub review Overall, I think Gatehub is a really good wallet for beginners. Not only do they support multiple coins, but you can also store fiat currencies too! Furthermore, I like the fact that you can use Gatehub to buy, sell and trade cryptocurrencies! The only issue I have with the Gatehub wallet is that they were hacked in 2017 and they did not refund any of the
Gatehub is a digital wallet operating a built-in exchange that permits its users to exchange, store, or send cryptocurrencies.
