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Gatehub Review 2023
GateHub was founded in 2014 by Enej Pungercar. It’s currently one of the world’s largest XRPL gateways, with 1.5 million users. Primarily it’s a crypto wallet that holds your assets securely. Like most developed platforms, it has a native exchange that lets users purchase and sell cryptocurrency with low fees by using Ripple.
GateHub focuses on three markets – XRP, USD, and EUR. Although these are the leading coins, the exchange features alternative trading pairs like ETH/BTC.
Provides a straightforward exchange to purchase and sell cryptocurrency
The impressive wallet holds crypto assets securely
Lets users send and receive payments instantly on GateHub and XRP Ledger
Showcases your portfolio analytics in real-time
GateHub Overview
| 💼 Provider Type: | Exchange |
| 💸 Minimum Deposit: | $10 |
| 💰 Trading Fees: | Varied |
| 💰 Deposit Fees: | None |
| 💰 Withdrawal Fees: | 0.2% to 0.3% |
| 💰 Management Fees: | Varied |
| 🔀 Minimum trade order | $10 |
| ⌛ Withdrawal Timeframe: | 2 – 4 business days |
| #️⃣ Number of Cryptocurrencies Supported: | 1 |
| #️⃣ Number of Crypto Pairs Supported: | 15 |
| 💱 Top supported Cryptocurrencies: | XRP |
| 📊 Leverage: | No |
| 📱 Native Mobile App: | No |
| 🖥️ Free Demo Account: | No |
| 🎧 Customer Support: | Live chat, email |
| ✅ Verification required: | KYC |
| 📈 CFD Available | No |
| 📊 Software: | Website |
| ⚽ Social Trading: | No |
| ✂️ Copy Trading: | No |
| 👮♂️ Regulators | Financial Conduct Authority (FCA) |
Pros and Cons of Using GateHub
- GateHub market interface is easy to understand and makes purchasing cryptocurrency a straightforward process
- AES Encryption secures your personal and financial data
- Coincover would secure up to $100,000 if it were to be stolen
- GateHub wallet makes it easy to manage your investments
- Transparent fees
- GateHub doesn’t have a smartphone app
- The exchange doesn’t feature all the popular coins
- Huge withdrawal fees
GateHub Cryptocurrencies and Trading Options
What cryptocurrencies can you trade on GateHub?
GateHub has three main markets – XRP, USD, and EUR. With these currencies, you can purchase different types of cryptos. Let’s take a look at the top trading pairs.
Ripple (XRP): XRP/USD, XRP/EUR, XRP/BTC, XRP/ETH, XRP/LTC.
US Dollar (USD): USD/XRP, USD/EUR, USD/BTC, USD/LTC, USD/BCH.
Euro (EUR): EUR/XRP, EUR/USD, EUR/BTC, EUR/BCH, EUR/LTC.
Different Trading Options Offered by GateHub
Cryptocurrency exchanges can offer different market orders – spot, margins, and futures. GateHub only offers spot markets, meaning you can buy or sell coins immediately at the best current price. Unfortunately, this isn’t the best option to increase profits since you can’t sell/buy your crypto at the price you want.
Can I Trade With Leverage on GateHub?
The markets section of GateHub is an instant crypto exchange. It doesn’t offer leverage trading on its crypto assets.
What Are the Spreads?
Spreads do not apply to a crypto wallet like GateHub.
Fees, Limits, and Payment Options on GateHub
What Are the Deposit and Withdrawal Fees, Limits, and Speeds?
The purchase and sell orders have a fixed fee of 0.3% on the total amount. Orders on the platform execute instantly, and you can see the new balance in your wallet. Furthermore, there are no limits to purchasing cryptocurrency if your balance has enough funds.
Moreover, users can purchase insurance on their GateHub wallets. If your funds are stolen, you can receive $10k to $100k back, depending on the subscription you choose. Here are the plans GateHub offers:
$10,000 – $36/year
$100,000 – $288/year
Deposit Methods
Depositing cryptocurrency and Fiat money from another exchange or wallet is free on GateHub. Also, sending funds to your account doesn’t require completing a KYC.
The main methods to transfer money to the platform is:
Crypto Wallets
Bank Transfers
Crypto Exchanges
Withdrawal Methods
GateHub provides multiple methods for withdrawing cryptocurrency and Fiat. Crypto transfers have an additional XRPL fee of 0.2% to 0.3%. Below is a list of the main options to take out your funds. Also, note that cryptocurrency withdrawals are paid with the coin you’re transferring.
SEPA Withdrawal – 1 EUR
SEPA Transfer Trace – 30 EUR
International Wire Transfer Trace – 35 USD
Bitcoin – 0.001 BTC
Ethereum – 0.01 ETH
Ethereum Classic – 0.0005 ETC
Litecoin – 0.001 LTC
Bitcoin Cash – 0.001 BCH
Dash – 0.0001 DSH
Songbird – 2 SGB
How Much Are GateHub’s Fees and Commissions?
GateHub takes a commission of 0.3% on all completed buy and sell orders. Also, there are no dormant account monthly payments and fees for creating a new wallet.
GateHub Trade Sizes and Limits
The minimum trade size for GateHub is $10 on all its cryptocurrencies. There is no limit to how much you can buy as long as you have enough funds in your account.
GateHub Trading Platform
What Device Can I Use GateHub On?
GateHub is only available on browsers and doesn’t feature a smartphone application to download. However, the homepage states that the mobile application is in development and coming soon.
Can I Use GateHub in Any Country?
GateHub is available to all countries recognizing crypto as a form of currency. Therefore, users should research their country’s laws on cryptocurrency to make sure it’s legal to open an account. The main locations GateHub operates in is:
United Kingdom
European Union
North America
Asia
Is GateHub Available in My Language?
The GateHub exchange, wallet, and customer support are only available in English.
How Easy Is It to Use GateHub?
GateHub is perhaps the most accessible crypto wallet because of the straightforward user interface. The wallet section showcases all your funds and provides an easy system to manage your investments. In addition, sending and receiving payments is a quick process, making the platform great for those new to cryptocurrency.
Moreover, the dashboard showcases all the platform’s features and makes it easier to navigate. You can access the exchange section, analytics, and wallet from the dashboard. The three markets offer multiple coins each and let you convert back to Fiat currency when you want to withdraw.
Furthermore, depositing funds into your account is fast since you can scan the QR code to transfer crypto. There is no cost to transfer money into your account. Instead, GateHub applies a fixed withdrawal fee. Also, the platform is very transparent and has a fee page so users can know the costs before creating an account.
Key Features
GateHub has several features that make it stand out amongst competitors. Below are the top three aspects of the platform.
Analytics
Users can see all their investment statistics from one place. Information like portfolio value change over time is displayed, making it easier to see how much you profited or lost. Also, you can track individual coins and see how they perform.
Security
What differentiates GateHub from competitors is its level of security. 2-step authentication is mandatory and helps provide an extra layer of protection. Moreover, the AES Encryption ensures that your investments are safe and your personal details are protected.
Wallet Protector
Unlike most crypto wallets, GateHub provides insurance on your money through Coincover. If your crypto is stolen, the platform will cover up to $10k or $100k, depending on the plan you choose.
Security and Regulation
Is GateHub Safe?
GateHub is very safe to use because of its several layers of protection. AES Encryption protects your personal information and financial data. The anti-phishing feature lets you set up a unique phrase, so GateHub knows which unauthorized users to deny.
Moreover, the state-of-the-art anomaly detection helps GateHub find malicious behaviour on the platform and keep your money safe. In addition, the mandatory 2-factor authentication provides more security when sending payments and logging in. Also, you are required to create a strong password and encouraged to use a password manager to keep your account secure.
Am I and My Cryptocurrency Protected?
GateHub provides insurance via the Coincover platform. Users can insure up to $10k or $100k. Both plans have different annual payment plans:
$10k – $36/year
$100k – $288/year
It’s highly recommended to get insurance on your account if you hold a lot of cryptocurrencies because breaches can happen unexpectedly. The signup process on Coincover is easy, and you’ll have your investment insured within minutes.
Is GateHub Regulated?
GateHub is governed by English law. The platform is prohibited from transacting with individuals, companies, and countries on the prescribed sanction lists. Therefore, you should learn your country’s law surrounding cryptocurrency to ensure you can legally use GateHub.
Do I Have to Verify My Account With GateHub?
GateHub clients will need to complete the KYC process to comply with UK laws. Users will need to provide proof of address by uploading a phone bill, utility bill, or bank statement. Also, an identification document needs to be uploaded. GateHub accepts passports, ID cards, and drivers licenses to verify your identity.
Extra Information
Educational Resources
GateHub provides a lot of information about its platform on the blog page. Here users can learn about new integrations, how to use the platform, and cryptocurrency tips. Also, if you want to learn additional information, you can go to the about page and send a message.
Tools and Charting
GateHub doesn’t provide tools and charting on its trading platform. Clients can only see graphs and cannot interact with the trading screen.
Customer Support
Clients can get customer support through live chat and email. At first, you’ll message a bot that will provide links to articles related to your question. If this doesn’t help, you can choose to chat with an agent. Also, you can contact support via email, and GateHub will respond within 48 hours.
The knowledge base has several in-depth topics that provide a lot of information about GateHub. Moreover, you can get answers quickly without contacting support by checking the community section to see other users’ issues and solutions.
How to Buy and Sell Cryptocurrency on GateHub
How to Buy Crypto on GateHub
Step 1: Visit GateHub’s Official Site & Sign Up
Create an account on GateHub and deposit funds into the account.
Step 2: Select a Currency Pair
Go to the markets page and choose the currency pair you’d like to trade. A new page will load, showing the cryptocurrency pair’s graph and extra information.
Step 3: Type the Number of Coins
Click the buy option and type in the number of coins you want to purchase.
Step 4: Enjoy Your Trades Instantly
Since it’s a market order, the funds instantly appear in your wallet.
How to Sell Crypto on GateHub
Step 1: Go to the markets section and click on the coin you want to sell.
Step 2: Select the sell button and input the number of coins you want to exchange.
Step 3: Review the order and make sure everything is correct.
Step 4: After, complete the order by clicking the sell button. You should now see the funds enter your wallet.
How to Open an Account With GateHub
Step 1: Visit the official GateHub website and select “Sign up” to begin the process.
Step 2: Now, enter your email address and create a strong password. Accept the terms and conditions and click “Sign up”.
Step 3: You will receive a verification email that you will need to click. The link will redirect you to a page to fill out your details.
Step 4: Provide the correct information and click next. Afterwards, you’ll have access to your account and deposit options.
Step 5: The next step is to verify your identity and proof of residence to unlock all the features in your account. To verify your identity, upload a picture of your driver’s license, passport, or ID card. Proof of residence requires you to upload a document of your utility bill, bank statement, or phone bill.
Step 6: Next, get insurance on your account through Coincover and select a plan based on how much you’ll hold in the wallet. Once you complete all these steps, you’ll have full control of your account.
Is there an alternative to crypto brokers?
Yes, there are many more ways to trade cryptocurrencies such as using cryptocurrency robots. Check out some of our reviews for the best trading robots:
Is there an alternative to GateHub?
Final Thoughts
GateHub is an XRP ledger payment gateway that enables storage, transfers, and exchanges. The platform supports three markets – XRP, USD, and EUR. Each market has several cryptocurrencies that users can exchange and store on their wallets.
GateHub is very open with the fees they apply on the platform. There are no fees for creating an account and depositing money. However, a fee of 0.3% is applied on all sell and buy orders. Also, withdrawing cryptocurrency has various costs that can be found on the fees page.
GateHub has an excellent wallet app that lets users track their portfolio’s losses or profits. Also, transferring and receiving payments is a straightforward process, convenient for sending crypto fast. Lastly, the platform has plans to release a GateHub card and mobile application.
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