GateHub

General Information & Regulation

Established 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 traders may also trade in popular coins such as Bitcoin (BTC), Ethereum (ETH) and others against several other digital coins and fiat currencies. As most exchanges, GateHub uses Two-factor authentication (2FA), which adds a second layer of security for their users.

Cryptos Offered

In addition to Ripple, GateHub offers trading in following cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Dash (DASH), Quantum (QUA), Stellar (XLM), and Xaucoin (XAU).Minimum Deposit

Trading Fees

GateHubs trading fees range from 0.2% to 0.3% per transaction (the cost of changing BTC to XRP is listed as 0.2%, ETH to XRP is 0.3%, same as Dash, ETC, REP, and all other coins with the exception of QAU). GateHub Wallet

The GateHub platform is the “official” online wallet solution for XRP owners that lets users send funds to other people by using their name, wallet name, Ripple address, or email address. Whats more, it is also possible to access the trade feature within the wallet itself.

Payment Methods

GateHub allows traders to directly change cash (supported fiat currencies are USD, EUR, CNY and JPY) for Ripple or other digital coins. Besides, the platform accepts payments with bank transfers, including SEPA transfers. In most exchanges deposits in cryptocurrencies are free of charge. On the other hand, GateHub charges coin deposit fees. These fees are not to be underestimated, for example deposits in Ethereum incur a fee of 0.011 ETH, and those in Bitcoin 0.00053 BTC. Deposits in fiat are also charged (0.1 %, min. fee $15.00 for International Wire Deposit), while SEPA withdrawals are charged 1.00 € or 8.00 € (depending on the amount). Withdrawals in crypto vary, depending on the asset: free for ETH and ETC, and 0.005 BTC. SEPA deposits are free of charge.

Serving Regions

GateHub is a UK-based crypto exchange and it offers its services throughout the EU. There are no specific EU requirements for the crypto exchanges yet, except that they apply KYC (know your customer) and AML (anti money laundering) procedures, but this regulatory area is still unclear.

Negative Reviews

There are many negative reviews about GateHub on reddit and xrpcha, people losing XRPs – some in thousands. Many users complain of slow or unresponsive customer support, delayed transaction times, slow ID verification, etc. There are even rumours that the exchange has turned into scam.