Our Score 7.4

There are multiple crypto wallets in the market today, however, to find out which one of the best for your needs, you should find out more about each of them. 

In this GateHub review, I will take a look at the company's background, wallet's features and how to use it. I am also going to cover things like fees, customer support and supported coins.

After that, I will take a look at GateHub's security features and answer the question "is GateHub safe?". Finally, I will provide you with a really simple step-by-step guide on how to set it up and how to use it!

After this GateHub review, you will have all the needed information to decide whether it’s the right wallet for you!

So, what are you waiting for? Let’s find out if GateHub is just as good as other recommended crypto wallets, such as Ledger, Coinbase and Trezor.  

Pros

  • User-friendly
  • Inbuilt payment gateway
  • Relatively safe

Cons

  • Security issue in the past
  • Lacks security - hot wallet

What is the GateHub Wallet?

The GateHub platform was created in 2014 by a UK company. When it was first launched, it was built specifically for the Ripple (XRP) cryptocurrency, however, it now supports other coins too. GateHub has two main functions as it not only allows people to store their coins, but it allows people to trade them too!

Gatehub review: homepage.

The wallet allows you to send and receive cryptocurrencies, as well as store them. It is also possible to send coins to another GateHub user by entering their username, which makes it super straight forward in comparison to a lot of other wallets. The wallet is accessed online through a web browser, which is available either through a desktop device, Android or iOS.

So, now that you know what the GateHub platform is, the next part of my GateHub review is going to look at how good the wallet is!

Latest Trezor Coupon Found:

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.

 

Gatehub review: cryptocurrencies

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 an excellent choice for beginners.

Gatehub review: trading

So now that you know what the GateHub wallet can do, the next part of my GateHub review is going to look at their customer support.

Customer Support

The majority of wallet providers do not have customer support, however, since GateHub is also an exchange, there are multiple ways to contact them. The easiest way to contact customer support is by sending an email. However, according to online reviews, the support team is pretty slow to respond.

The GateHub team are also on various social media platforms, such as Facebook, Google+, Twitter and LinkedIn. Although the platform has a support team, it is important to remember that if you lose both your authentication key and password or your funds are hacked; there is nothing that GateHub can do.

Now that you know about the customer support available at GateHub, the next part of my GateHub review is going to look at GateHub fees!

GateHub Fees

The first thing to consider when using GateHub is that if you are looking to store Ripple (XRP), you will need to hold a minimum of 20 XRP. You will not be able to use these coins in any way, as it is simply to activate your wallet. For example, if you transfer 50 XRP to your GateHub wallet, you will only be able to use 30 XRP. This is the same system for all Ripple wallets, so there is no way you can avoid it!

Gatehub review: fees.

Other than this, there are no GateHub fees for sending and receiving funds, other than the blockchain transaction fee. The platform makes their money from trading, deposit and withdrawal fees. You can find all the information above. 

So now that you know about GateHub fees, the next part of my GateHub review is going to look at the wallet’s security!

Security Overview: Is GateHub safe?

To help protect your GateHub wallet, the platform has installed certain security features. Firstly, you are advised to set up Two Factor Authentication, which will require you to enter a code that is sent to your phone every time you attempt to log in.

Furthermore, if you try to log in from a new IP address or device, you will be required to re-confirm your email address. The platform also encrypts all of its data, which further protects your personal information.

GateHub can never access your private keys as they are stored on a separate server to the main platform. Although this also adds an extra level of security, it also means that if you lose them, you will never be able to recover your funds.

Gatehub review: analytics.

However, in 2017 there was a security issue that resulted in people having their coins stolen. The GateHub centralized servers were hacked, which allowed the criminals to get away with more than $5 million in cryptocurrency. According to various users, GateHub said they would not refund the stolen funds.

The official GateHub statement about the hack that happened is as follows:

"No funds were stolen from the user's wallets. GateHub discovered that a criminal had exploited a flaw in an auxiliary deposit processing service all transactions were honored in full. True there are claims that funds went missing but that was from personal account hacking."

This is very concerning, and it should be a reminder that no matter which cryptocurrency wallet you use, your funds are never 100% safe. Although, Ledger and Trezor hardware wallets are known to be very reliable. So now that you know the answer to ‘Is GateHub safe?’, the next part of my GateHub review is going to look at how to get started!

Gatehub Review

How to Set Up the GateHub Wallet

If you have decided that you like the sound of GateHub, I am now going to give you step-by-step instructions on how to get started!

1. The first thing you need to do is visit the official GateHub website.

2. You will then be asked if you want to sign in. Instead, click on the Sign-Up
Gatehub Review

3. Now you will need to enter your email address and choose a strong password. You will also need to click the I’m not a robot box, as well as the Terms and Conditions box!
Gatehub Review

4. You will then be shown your wallet recovery key. This is important as you will need this if you ever forget your password. You can either write it down (recommended), or you can download it to your device as a text file.
Gatehub Review

5. Once you have saved your recovery key, you will then need to confirm your email address. You can do this by clicking the Activate Account button in the email sent to you.
Gatehub Review

6. Once you sign in, you will then be told that you need to provide more information. Unless you are a company, click on the Individual button!
Gatehub Review

7. First, you need to enter your mobile number. Make sure this is correct as you will need to verify it!
Gatehub Review

8. Once you receive the SMS code, enter it into the box.
Gatehub Review

9. If you have successfully verified your number, click on Continue.
Gatehub Review

10. Next, you need to enter a public username. This is very similar to a Twitter username, however, it is used to receive funds. This makes it easier to transfer coins within the GateHub platform, as you don’t need to enter a long wallet address!
Gatehub Review

11. Now you are asked to upload a photo! If you don’t want to, you can click on Skip, I’ll do this later.
Gatehub Review

Your wallet is now set up! Well done! The next thing that you need to do is set up Two-Factor Authentication. This will add an extra layer of security to your account, as every time you log in, you will need to confirm a code that is sent to your phone! Although you are not forced to do this, I highly recommend it!

1. Click on Enable 2-Factor Authentication.
Gatehub Review

2. You will need to download Google Authenticator on your mobile phone, which is available on both ioS and Android.

3. Now you need to link your Google Authenticator to your GateHub account. You can do this by either entering the Authentication Key or by scanning the QR code.
Gatehub Review

4. Now that you have set up Two Factor Authentication, your account is more secure!

So now that you know how to set up your wallet, the next part of my GateHub review is going to show you how to use it!

How to Use the GateHub Wallet

Let me provide you with a step-by-step guide on how to use the GateHub wallet. 

1. On the left-hand side, click on Wallet.
Gatehub Review

2. You will now be shown your wallet balance, which is in Ripple (XRP) by default. As you will see, your wallet is disabled until you deposit at least 20 XRP. This 20 XRP cannot be spent, transferred or withdrawn, which means that it is a free-to-use wallet. Unfortunately, this is the same for all Ripple (XRP) wallets.

3. To fund your account, scroll down and look for your wallet address. If you already hold XRP then this is the easiest way as you can simply transfer the coins straight into GateHub. Simply paste the GateHub wallet address into the recipient field of your current wallet, send the transaction, and the funds should arrive in your GateHub account in less than a minute!
Gatehub Review

4. If you do not currently hold XRP, you can deposit using real-world money! Alternatively, you can also deposit using other cryptocurrencies too. To do so, click on Deposit/Receive.
Gatehub Review

5. If you currently have a European Bank account, click on EU BANK, followed by Connect a Gateway. Just remember, if you want to use real-world money, you will need to verify your identity first. Don’t worry, my GateHub review will show you how to do that below!

6. Firstly you will need to enter your details. This includes your full legal name, date of birth, home address and gender.
Gatehub Review

7. Now you will need to provide some documentation. For your ID, you can either use a passport, driving license or national identification card. Enter the serial number into the box and then upload the image.
Gatehub Review

8. After this, you will also need to upload a proof of address. This can either be a utility bill, bank statement, tax return or certificate of residency.
Gatehub Review

9. Once you click on submit, the GateHub team will review your documents and once they have, you will be able to deposit funds using your bank account! The time it takes the team to do this depends on how busy they are, so be prepared to wait a few days.
Gatehub Review

So now that you know how to set up your GateHub wallet and how to verify your account, the next part of my GateHub review is going to explain how to send funds to another wallet!

How to Send/Receive

  • First, click on the Wallet on the left-hand side.
  • After that, click on Send Payment, followed by Instant.
  • You will now need to enter your GateHub password.
  • Select the cryptocurrency that you want to send, along with the amount.
  • Now enter the wallet address that you want to send the funds to.
  • To complete the transaction, make sure that you are happy with the amount you are transferring and then click on Confirm.

And that’s it. You’ve now successfully made your first transfer within the GateHub!

Pros
  • Top-notch security
  • A very well-known crypto wallet
  • Holds a huge number of cryptocurrencies
Pros
  • Super secure
  • Protection against physical damage
  • Supports more than 1500 coins and tokens
Pros
  • Can be managed from mobile device
  • Very secure
  • Supports more than 1,100 cryptocurrencies

GateHub Review: Conclusion

And that’s the end of my GateHub review!

Overall, I think GateHub is a good wallet for beginners. It not only supports multiple coins, but you can store fiat currencies too! Furthermore, I like the fact that you can use GateHub to buy, sell and trade cryptocurrencies!

The only issue I have with the GateHub wallet is that it was hacked in 2017 and did not refund any of the people affected. Even though no hacks have happened since it should be a reminder that your funds are never 100% safe. In this sense, it might be worth considering a paper wallet or a hardware wallet, such as Ledger and Trezor.

I hope that this GateHub review was helpful and you've already decided whether it's suitable for you. 

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Leave your honest GateHub review

Leave your genuine opinion & help thousands of people to choose the best crypto wallet. All reviews, either positive or negative, are accepted as long as they’re honest. We do not publish biased reviews or spam. So if you want to share your experience, opinion or give advice - the scene is yours!

TOP3 Most Popular Coupon Codes

Verified

$20 Off

Trezor Model T
Rating
4.8
Verified

Save 50%

On Ledger Nano S
Rating
5.0
Verified

1 Year Warranty

For Keep Key Hardware Wallet
Rating
5.0

FAQ

Is GateHub wallet safe?

Compared to other hot wallets, GateHub is relatively safe. It can never access your private keys since they're stored in private servers. However, if you're looking for truly secure options, you should consider Ledger and Trezor hardware wallets.

What is GateHub?

GateHub is a hot wallet that allows you to store Bitcoin, Ethereum, Ripple and other cryptocurrencies. GateHub is also a trading platform that accepts fiat currencies and is highly recommended for beginners. If you're looking for an easy-to-use crypto wallet you should also check out Coinbase.

What types of cryptocurrency wallets are there?

In total, there are four big types of cryptocurrency wallets - online, hardware, software (app), and paper ones. Each of these types of wallets have their own features, benefits, and shortcomings, and are thus going to be suitable for different types of people, too. Security-wise, paper wallets are seen as the best alternative, while convenience-wise, software and online ones should be your go-to options.

What are “hot” and “cold” wallets?

Hot wallets are those crypto storage pieces of software that maintain a constant connection to the internet. As opposed to that, cold wallets are hardware devices that store your cryptos offline. Safety-wise, cold wallets are considered the best option - since they are always offline, you don’t need to worry about some sort of a hacker stealing all of your cryptocurrency assets.

Are hardware wallets worth investing in?

It depends, but in most cases - yes. If you’re just starting out with cryptocurrency trading and investing, a hardware wallet might be a bit of an overkill - it is generally considered that hardware wallets should be purchased once you have a significant amount of crypto, and want to keep it safe. If you’re an active trader, that can also dissuade the matter even further - trading-wise, software and online wallets are much more convenient.

Can you keep your cryptocurrencies in two or more wallets at a time?

Definitely! It’s also part of crypto storage best practices, too! Most cryptocurrency enthusiasts prefer to have a software and a hardware wallet - the former for easy access and trading, and the latter for safe storage. However, you can also utilize multiple wallets simply in order to make sure that your assets are safe and sound. This way, if one of your crypto wallets becomes compromised, you won’t lose all of your assets.