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Everything You Need to Know About Gatehub Wallet



Gatehub is a versatile wallet, which offers a combination of storage and trading facilities for crypto enthusiasts. Ripple is the primary digital asset where Gatehub is concerned. However, the wallet does support multiple other popular coins. Gatehub was created by a UK company in 2014 specifically for XRP.


This quick guide about Gatehub Wallet shall cover the coins supported, fees charged, how to set it up, and other features.


Pros

  • Beginner-friendly

  • Fiat currencies supported

  • Competitive trading fees

  • Open-source


Cons

  • Limited crypto support

  • Lacking security – Gatehub as hacked in August 2017

  • Hot wallet – vulnerable

  • Outrageous deposit and transfer fee


What Coins Are Supported by Gatehub Wallet?


Gatehub supports Bitcoin, Ripple, Ethereum, Ethereum Classic, Dash, Xaurum, Bitcoin Cash, and Augur. Users can store, receive, and send these crypto assets from the built-in exchange. All passwords and private keys on the Gatehub platform are hashed and encrypted.


The in-built payment gateway allows users to deposit fiat money to purchase crypto. However, you would have to go through a verification process before you do this.


Fees Charged By Gatehub Wallet


There are no Gatehub fees for storing, sending, or receiving crypto assets. Whatever fee there maybe is the blockchain transaction fee. Gatehub makes money through deposit, withdrawal, and trading fees.


An important point to consider is that you would have to store 20 XRP in your Gatehub wallet at all times. You won’t be allowed to use these coins. For instance, if you have 50 XRP, only 30 XRP would be free for trading, payments, and withdrawal.



Step-by-step Guide for Setting up Gatehub Wallet


Gatehub wallet is a cloud-based wallet. It is accessed online through a web browser. Hence, you don’t have to download or install anything. You can access the Gatehub wallet on your desktop device or phone (Android and iOS).


The first thing you need to do to get started is to visit the official Gatehub site. You will be asked to sign in. However, look for the Sign-up button.


You need to enter an email address and choose a strong password to create an account. Check the I’m not a robot box and agree to the Gatehub Terms and Conditions.


You would then see a wallet recovery key on the screen next. This key is very important and you would need it if you ever forget the password to your Gatehub account. Make sure you write it down and keep it somewhere safe. You could also save it as a .txt file in your system (not recommended).


The next step is to confirm the email address. Do this by clicking the Activate Account button in the email Gatehub sent you.


Gatehub requires certain information to complete the wallet setup. You would need to provide this once you sign-in for the first time.


The information includes:

  • Whether you are an individual or a company

  • Your mobile number

  • Public username

  • A recent photo


Make sure you enter a correct mobile number since Gatehub would send a text code for verification purposes. You would have to enter the verification code in a box.


Your public username is something like your Twitter username. You can use it to receive funds easily on the Gatehub platform. You don’t have to enter a long wallet address. Just your public username is sufficient.


You can always skip adding a photo if you don’t want to do it right away.


Your Gatehub wallet is all set up. However, before you add funds or start using it, you must set up the Two-Factor Authentication. This will add a secondary layer of security to your account. You would have to enter a pass code that is sent to your cell phone whenever you want to log in. This is highly recommended.



How Is Customer Support?


Gatehub team has an excellent customer support network. However, they can be a bit slow sometimes in their response. The easiest way to get in touch with them is through email. You can also reach out to customer support on various social media platforms, such as Facebook, Google+, Twitter, and LinkedIn.


Who should use Gatehub Wallet?


The Gatehub wallet is user-friendly with a website that is simple to use. No crypto beginner will get lost here making it perfect for people just starting. One of the best features of the Gatehub wallet is that it supports multiple cryptocurrencies as well as fiat currency. This is again something beginners can benefit from.

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