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GateHub is a Bitcoin, Ripple, Ethereum, Ethereum Classic and Augur wallet. It is especially focused on Ripple (XRP). Ripple is used by GateHub for trading and moving money across the Ripple network. However, it is business independent from Ripple. All digital GateHub coins can be traded against the USD, EUR, and some other fiat currencies. Apart from that, GateHub offers the coin-to-coin trading option.
It claims to be totally safe, while all passwords and private keys are hashed and encrypted using industry standard algorithms. Moreover, GateHub.net itself can’t access them. There is a special gateway for digital assets apart from Ripple on GateHub. It’s named GateHub Fifth. It provides BTC, ETC, ETH, and REP issuance on the Ripple network.
- Platforms: Web
- Validation Type: Centralized
- Wallet Features: 2 Factor Authentication, Open Source
- Url: https://www.cryptocompare.com/wallets/gatehub/
- Anonymity: Low
- Security: Third Party Encrypted
- Coins: BTC, XRP, ETH, ETC, REP
- Source Code Url: https://github.com/GateHubNet
- Ease Of Use: Easy
How safe is GateHub?
Similarly to most of other exchanges, GateHub uses 2FA (two-factor authentication). Identity verification, though, is not required for crypto transaction, just for bank transactions.
Kraken vs Bitstamp vs GateHub.net
Kraken and Bitstamp totally quit serving those countries where all crypto exchanges meet additional regulations as “money transmitters”. Kraken, however, offers more features and options than the majority of exchanges. Also, verification at Kraken is pretty simple. Bitstamp’s trading options are not as exotic as at Kraken and GateHub, so the site navigation is also not difficult. Bitstamp is good for beginners. However, verification at Bitstamp is really difficult, it’s necessary to submit the copies of your documents and a bank statement. GateHub.net customer support is more than friendly and treats each of its members like a VIP-client.
GateHub vs Coinbase
Coinbase is a pretty stable exchange operating worldwide. It’s pretty safe and easy to use. However, their customer support needs improvement. Coinbase is free to sign up and after signing up, users are able to get free bitcoin.
Buy Ripple on GateHub
GateHub is the third most recommended exchange for Ripple. It is also one of the easiest to use for beginners. To set up a new account, complete the following steps:
- Go to the GateHub site and click the Sign Up button. Enter your email and password, after that activate your account and confirm your device. For your security, it’s necessary to login your inbox twice.
- Click Individual and go to the Identity screen automatically. Verify at least your phone number. For that purpose, enter your number and click Confirm button.
- GateHub net will send you a GateHub verification code in the sms, enter it and click Verify.
- You are free to skip the nickname part and go to your wallet. On the left you’ll have to click Wallet. Your wallet address will be shown front and center.
Your wallet will be activated once you make a deposit. In order to make a deposit, you should use the Deposit/withdraw feature.
- Cash accepted. That might be the best thing users like about GateHub. According to GateHub review, clients can change cash for Ripple and other digital coins directly. GateHub accepts such fiat currencies, as USD, EUR, JPY, and CNY. Apart from that, GateHub accepts payments via bank transfers, such as Single Euro Payments Area transfers (SEPA).
- Relatively low trading fees. The range of the trading fees on GateHub is 0.2%-0.3% per transaction depending on the instrument. Comparing to other exchanges, trading fees are not high.
- Respectable altcoins amount. Unlike many other exchanges, GateHub offers trading in BTC, BCH, EHT, ETC, DASH, RAP, XAU, QAU, and XLM.
- User-friendly platform. GateHub offers a good order book, functional order history, price and market depth charts, as well as Android and iOS compatible mobile apps.
- GateHub wallet service. The transactions in ripple wallets are recorded on the public ripple ledger. The Ripple wallets require a non-withdrawable reserve.
- Fees. Unlike some other exchanges, GateHub charges deposit fees, including 0.00053 BTC for deposits in Bitcoin, 0.011 ETH for deposits in Ethereum, and 0.1 %, min. fee $15.00 for International Wire Deposit for deposits in fiat currencies. SEPA deposits are free. SEPA withdrawals are charged from 1 to 8 EUR, the withdrawals in cryptocurrency depend on the asset.
- Margin trading is absent. There is no leverage provided for clients.
- Some negative reviews. Reviews on GateHub.net vary and there are negative ones concerning slow ID verification or delayed transaction times.
- Has been hacked in August, 2017. In August 2017 $5 million were stolen. The company declared no clients’ information or balances were affected.