Review on Gatehub by Fanuel PORPORTY
GateHub platform serves a dual-role; one as the payment gateway (wallet) and second as a cryptocurrency exchange.
Started in 2014, GateHub is a UK-based cryptocurrency exchange that uses Ripple (XRP) as a form of digital coin for trading and moving money across the so-called Ripple network, but claims that it is a business independent from Ripple.
Apart from Ripple, at GateHub you may also trade in popular coins such as Bitcoin (BTC), Ethereum (ETH) and others against several other digital coins and fiat currencies.
Gatehub has a special gateway for digital assets other than Ripple, called GateHub Fifth. It currently provides Bitcoin, Ethereum, Ethereum Classic and Augur issuance on the Ripple network. As most exchanges, GateHub uses Two-factor authentication (2FA), which adds a second layer of security for their users. It's important to note that identity verification is mandatory only for bank transaction, and not for crypto transactions.
Pros
- Great location
- Wallet service
- A fair amount of altcoins
- Nice and simple user interface
- Mobile apps available
- Relatively competitive trading fees
- Cash is accepted
Cons
- No margin trading available
- Security problems
- Reliability problems (it’s been hacked)
- High transfer fees
- Recent negative reviews on social media and the web
