spot_img
28.1 C
London
Tuesday, August 9, 2022
spot_img
HomeWALLETGatehub Wallet Review: Gatehub Wallet Is Safe Or Not...

Gatehub Wallet Review: Gatehub Wallet Is Safe Or Not ?

About Gatehub Wallet

Gatehub Wallet platform serves a dual-role; one as the payment gateway (wallet) and second as a cryptocurrency exchange. At best, it is a Ripple wallet called as Ripple GateHub.

The platform is a Bitcoin, Ripple, Ethereum Classic, Ethereum, and Augur wallet. You can trade these digital GateHub coins against the USD, EUR, etc. The wallet also offers you “the crypto-to-crypto” trading option.

All passwords and private keys are encrypted and hashed using industry standard algorithms. Apart from Ripple, there is a separate gateway for digital coins on the platform called as “Gatehub Wallet Fifth”. It gives BTC, ETC, ETH, and REP issuance on the Ripple network.

It uses Two-factor authentication (2FA) for additional security for its users. Here identity verification is mandatory only for bank transactions. (Not for crypto transactions)

Gatehub Wallet Points Table

BasicPoint
Wallet NameGatehub Wallet
Available PlatformiOS and Android
Wallet TypeOnline Mobile Wallet
AnonymityMedium
Easy To UseEasy
Buy/Sell Facility Available
Pin Code Protected Yes
Frequency Of Update Once In A Month
Price Free
Trust Score8/10
SupportN/A
Official LinkClick Here

How To Install & Send/Receive Coin

How To Download Gatehub Wallet

Download Gatehub Wallet From App Store Of Your Choice . The Wallet Available For Android & IOS Device .

How To Setup Gatehub Wallet

It Is Very Easy To Setup . Click On Start Button . After Brief Information  You’ll Be Prompted To Create A Custom PIN Code .After That You Will Get Paper Key Fill It And Save This Key On Safe Place . You Are Done .

How To Send Coin From Gatehub Wallet

Click On Coin Icon Which You Want To Send . Than You Redirect To Transfer Page . Just Fill Receiver Address & Fill Amount Which You Want To Send . And Click On Confirm Button . You Are Done .

How To Receive Coin In Gatehub Wallet

Click On Coin Icon Which You Want To Receive , Than Click On Receive Button , You Will See Your Coin Address Copy It And Share With Payer That It

Wallet Protect

We’ve partnered up with Coincover to develop a brand-new product that’s designed to focus solely on safeguarding your crypto – let us introduce Wallet Protect.

What does Wallet Protect provide?

Wallet Protect offers you the safest and most comprehensive way to protect your cryptocurrency, and includes the following features for your peace of mind:

Multisignature

Your transactions are signed by multiple keys which increases security and allows for easy recovery.

Fraud Shield

Real time scanning for suspicious addresses to detect fraudulent activity and prevent loss of funds.

Theft Cover

Cover up to $100,000 of cryptocurrency with Theft Cover from Coincover – underwritten by Lloyd’s of London.

Personalised cover certificate

Receive a personalised certificate from Coincover confirming your cover level and providing assurance of your protection.

How does it work?

It works by making your wallet a “multisignature” or “multisig” wallet. Your transactions are signed by multiple keys which makes it possible to perform scanning and recovery in cooperation with Coincover.

Fraud Shield works by running all destination addresses through xrplorer, Chainalysis and GateHub’s own fraud checks. That way we can help to prevent certain losses of funds.

If you lose access to your wallet, we can recover the funds from your Wallet Protect enabled XRPL wallet(s). This is a manual process so you will need to set up a new account and any funds that can be transferred will be moved to your new account.

Theft Cover is provided by Coincover. To start a claim get in touch with GateHub via support desk. We may ask for additional information about your claim.

GateHub Wallet Supported Coins

One of the features of GateHub wallet is that it supports fiat currencies such as the USD. Other supported fiat currencies include EUR, CNY, and JPY. The wallet was originally built to support Ripple (XRP). Albeit, the platform now supports eight coins. These are:

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Bitcoin Cash (BCH)
  4. Ethereum Classic (ETC)
  5. Dash (DASH)
  6. Xaurum (XAUR)
  7. Augur (REP)
  8. Ripple (XRP)

GateHub Wallet Fees

The GateHub wallet has an inbuilt payment gateway. This payment gateway allows you to deposit fiat. However, you need to go through a verification process. It may take a few days to get your account verified. You can buy coins using a bank account through SEPA or SWIFT. When using GateHub to store Ripple, you need to hold a minimum of 20 XRP. This same system applies to all Ripple wallets. GateHub charges 0.00053 BTC for Bitcoin deposits and 0.011 ETH for Ethereum deposits.

Is GateHub Safe?

GateHub has several mechanisms put in place to protect its platform and the accounts of its users from security breaches. The most important one is the Two Factor Authentication that requires a one-time password to be sent to the user’s mobile device any time someone attempts to log in. This code cannot be obtained another way than from the application (Google Authenticator or a similar one) installed on the only device of the account owner.

More than that, GateHub requests for email confirmation whenever a new IP address or device attempts to log into the account. Both email confirmation and 2-factor authentication prevent unauthorized logins.

GateHub uses a military-grade algorithm to help secure the accounts of its users. This has been further reinforced since the hack attack in 2017 in which more than $5 million in cryptocurrencies were stolen from the platform.

This was due to hackers breaking into the exchange’s centralized servers and taking advantage of the loopholes in its security. Since then, there have not been any major security breaches on the platform as it encrypts all of its data which further secures the personal details of the platform users.

Customer Service

GateHub has extensive customer support options and it is not surprising since it offers multiple crypto services. The crypto platform is active on popular social media platforms like Facebook, Twitter, and Linkedin.

In addition, users can send complaints and inquiries via email to the customer support team. However, there are a number of complaints from users regarding the slow response to requests by the customer support team. This is one major flaw for any crypto platform but it would be fair to admit that unfortunately, many cryptocurrency platforms have the same issue.

There is a well-detailed blog where new information is regularly updated regarding the latest developments on the platform. Also, one can find an extensive FAQ section that properly tackles popular problems faced by users on the platform.

Bixer Simond
Bixer Simond
Bixer Is Long Term Writer & Editor At Woodfi . His Hobby Is Writing Article For Wootfi Visitors . His Main Focus Area Is Crypto , Affiliate , Blockchain , NEFT , ICO . In Free Time He Loves To Research New Things
spot_img

- Advertisement -

JUST NOW PRESS RELEASE

RELATED ARTICE BY WOOTFI MILE TEAM