Gatehub reviews and review of the official website of the exchange
Many exchanges are not limited to the currency exchange function. Increasingly, they are becoming multi-functional platforms that allow you to store assets with enhanced security measures, invest or create new projects. The GateHub cryptocurrency exchange also has some of these features.
The site began to work as a Ripple coin wallet. It was created in 2015. Over time, it acquired the functions of exchanging XRP for other currencies, new markets appeared, as well as the possibility of cooperation with financial institutions through the new Gateway product.
The company is registered in London. In addition, she has an office in the capital of Slovenia, Ljubljana. There is no information about the team on the site, but it is known that the key positions are occupied by Slovenes:
- CEO – Enej Pungercar;
- COO – Sergij Foski.
At an early stage of development, the following was invested in the project:
- Chris Larsen – Founder and CEO of Ripple Labs;
- Greg Kidd – co-founder of Hard Yaka and CEO GlobaliD;
- Neitz Kodrich is the founder and CEO of Bitstamp.
The domain was created on 11/12/2014. The resource has only the English version.
On the main page of the GateHub official site, developers introduce the main products of the site:
- Gateways platform
According to the company, on its site, the daily volume of currency trading paired with XRP is approximately 5th of the total market.
The service is popular all over the world. According to SimilarWeb, the largest number of US users is 17.7%. Also quite a lot of Russians – 10.5%, British – 9.95%, Germans – 7.45% and Dutch – 6.8%. Currently, an active customer base is more than half a million people. And the peak visit was recorded in December 2017 – 7.6 million.
Registration and login at GateHub
To create an account, you must specify:
After that, your Recovery Key will be displayed on the screen. Be sure to write it down, as this is the only way to regain access to your account in case of loss of access. Then check your mail. You will receive an email with an account activation button. By clicking on it, you verify your email and complete the registration.
Identity verification is a must for a new user. First you need to bind a phone number. Then provide personal information, including address of residence. It is better to use passport data in order to prevent mistakes. At the end, the system will require scans of identity documents and registration.
Input and output
To activate access to balances and transactions from different wallets, you must first top up the Ripple wallet with at least 20 XRP. The user can choose one of two wallet formats: hosted (wallet on the GateHub platform) or Ripple (operations with him are recorded in a decentralized cryptocurrency network).
From cryptocurrencies, the platform supports:
From fiats USD and EUR are available. You can enter / enter fiats only with the help of bank transfers (deposit / cashout – 0.1%) and SEPA (deposit – 0%, cashout – from € 1 to € 8).
In total, the platform supports 13 trading pairs. Mostly these are XRP markets. Only ETH / USD and BTC / USD pairs fall out of the overall picture. In addition to fiat and cryptocurrencies, XAU digital gold tokens are also present at the auction. They exchange only in pair to Ripple. The total daily volume exceeds $ 1.2 million. The most popular pairs:
- XRP / USD – $ 517k;
- XRP / ETH – $ 115k;
- XRP / BTC – $ 96k.
Trading commission – from 0.2% to 0.3% depending on the selected trading instrument.
The platform uses its own trading terminal. At the center of the screen is a graph that can be adjusted according to the time frame. There are no additional analysis tools, but you can view the depth of the fish
To contact support staff, go to the Help – Submit a Request section. Here you indicate the email, subject, category (verification, bank transfers), describe the problem and attach the screen.
You can also find the answer in the FAQ section. Use the search in it.
To increase account security, you should enable two-factor authentication. You can use the Google Authenticator and Authy apps for this.
Review your entry history periodically. In case of unauthorized logins, it is necessary to inform support.
The company itself guarantees the security of assets that are stored on the platform wallet.
One of the main functions of the site is a wallet. It can store cryptocurrency and fiat. Its functionality is to transfer part of its assets to another person in trust, for example, for trading on the stock exchange or in debt at interest. You can do this in the Advanced section. Here you can view the statistics of already created trust lines.
- Exchanger. For those who want to quickly exchange XRP for another asset available on the exchange, the automatic exchange function at the current rate has been added. Just indicate the number of Ripple tokens and the coin / currency you want to exchange for. After that, the system will knock out how many tokens you will receive. Exchange fee in all pairs – 0%.
- Gateway is a platform that allows financial institutions to organize their activities based on the GateHub infrastructure in the Ripple network. At the same time, full support is provided in terms of analytical data, statistics, transition to automated financial transfers, identity verification, data and asset protection, etc.
The company experienced a difficult period in August 2017. Then she was faced with a lot of negative comments due to a successful hack. As a result, digital assets worth $ 5 million were stolen. The administration assured that the funds and personal information of the users remained untouched, but many noticed a malfunction of the service.
But after that, the exchange managed to completely restore work and regain the trust of customers. She is praised for the possibility of trading in crypto / fiat pairs, an extended list of tokens at the auction, and a quick currency exchange without commission.