Review on Gatehub by Sergio Daniel Delgado
How good is the Gatehub wallet?
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.
Pros
- 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.
Cons
- 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 GateHubnet 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.
