What is Gatecoin?
Gatecoin is an exchange platform for Bitcoin and Ethereum. Ethereum and Bitcoin are the world’s most disruptive cryptocurrencies with an aim of acquiring blockchain technologies to spearhead innovation across industries. It is a fact that each day, the cryptocurrency exchange platforms are enrolling over one hundred thousand users worldwide.
In the exponential growth of cryptocurrency coins, some of the exchange websites have strived hard to stay afloat with the rising numbers while others have succumbed to the abrupt upsurge of demand in Bitcoins, Ethereum, and other altcoins. While some have managed to accommodate the increasing bulk of crypto-users, other platforms have completely shut down new users hence the need to analyze the available platforms to enable potential users to gain access to crypto-currency exchange platforms. The significance of this undertaking cannot be overstated since it is evident that the surge of cryptocurrency may revolutionize the entire financial sector.
Gatecoin review; everything you need to know about Gatecoin
- Gatecoin is a private limited company in Hong Kong founded in the July of 2013.
- Founded by a banker, Gatecoin has made headlines owing to the fact that it was the first cryptocurrency exchange platform to list the Ethereum coin in August of 2015.
- From that time, it has always been involved in the listing of Ethereum tokens found in decentralized applications based on the Ethereum blockchain.
- In Europe, Gatecoin was the first exchange platform for bitcoins and other cryptocurrencies to provide a segregated client bank accounts.
- It was among the pioneer cryptocurrency exchanges to get listed as a regulated operator and money service provider in Hong Kong.
- Gatecoin services are accessible online at gatecoin.com.
- Some of the Gatecoin pairs include; ETH/EUR, ETH/BTC, BTC/HKD and BTC/USD.
Gatecoin Unique features
- Gatecoin uses a market maker type of rebate program for purposes of ensuring high liquidity is achieved on the exchange platform.
- The provision of an instant buy/sell feature on the platform allows a user to apply and quickly swap from one currency to another.
Compliance and transparency
As a user or potential user, you might be asking yourself; ‘Is Gatecoin legit? Is Gatecoin scam?’
- Gate coin claims to uphold the standards of compliance with cryptocurrency exchange. These claims are backed by the fact that the platform is regulated in Hong Kong by financial regulators.
- Some of its processes are backed by separate and independent compliance solution providers.
Advanced trading tools
Gatecoin gives the users access to low-latency and cutting-edge trading tools on its platform.
Ease of use
- Gatecoin assures users of an easy platform to buy and sell bitcoins among other cryptocurrencies and blockchain assets.
- The platform also allows for the use of some major fiat currencies such as the US dollar, the EUR, CNY, and HKD.
- The exchange platform offers live streaming of data, a fully dedicated support workforce and a fully documented REST API.
Smart and mobile-optimized interface
- The Gatecoin platform allows the user to carry out trading transactions and exchanges via smartphones or tablets at their comfort.
- It facilitates the creation of an intuitive trading experience for the users and constantly is concerned with the creation of an online platform that ensures an interactive and efficient session to their customers as they transact.
Compliant international trading
- Being involved in the trading of fiat currencies, the platform ensures good relationships with financial institutions globally maintained through partnerships.
- This enables users in this platform to unlimitedly transfer funds at low costs.
- For trades below 50 Bitcoins are charged a fee of 0.25% and a taker fee of 0.35%.
- Similar to most of the exchanges, the Gatecoin platform has a fee scale ranging from 100- 20,000 in volume each sliding over a trading period of 31 days.
- Highest traders are charged a fee of 0.02% and a 0.1% taker fee.
The other money transfers vary in charges according to the following types;
- SEPA transfers for the EURO – free to make deposits and charge 1 EUR for Withdrawal
- International transfers (EUR) – they cost 10EUR for deposits and the withdrawal fees are dependent on the specific bank charges.
- Hong Kong transfer (HKD) – 50 HKD to deposit and withdrawal charges are dependent on the particular bank.
- International transfer (HKD) – 50 HKD to deposit and withdrawal charges are dependent on the particular bank.
- Hong Kong transfer (USD) – costs 10 USD to deposit and withdrawal fee is dependent on the particular bank.
- International transfer (USD) – 7 USD to deposit and withdrawal charges are dependent on the particular bank.
- Gatecoin only accepts fund transfers to and from accounts that bear the same name as that attached to the Gatecoin account.
- The verification system is a three-tier system, it includes the Tier 0, Tier 1 and Tier 2.
- Tier 0 is not verified, tier 1 is verified and tier 2 is certified.
- The higher the level of verification the more actions a user can perform on the platform with their accounts.
Is Gatecoin safe?
‘Can I trust Gatecoin to store my funds or even increase the value of infested funds?’ is a common question among potential users.
A complementary question is whether Gatecoin is a scam or legit undertaking.
An important aspect that should be considered by a user before selecting an exchange platform to use is the security of funds in that account. Gatecoin has ensured preservation of security by taking the following classes of precautions;
- Personal data– the use of API keys and passwords that are hashed and salted combined with the encryption of data and identity documents ensures that the information on the accounts of all users is stored securely in a facility guarded all the time.
- Security – the platform in under 24-hour monitoring and uses bank-level security to improve the access to the servers. There is a standby team ready to address any unusual activity immediately after it appears.
- Segregation of accounts– all of the customer accounts are separately held from the company’s accounts in several large and trusted global banks. The cryptocurrencies of customers have also held apart from the segregated wallets. Up to ninety-five percent of the cryptocurrency is stored in cold wallets as well as hot wallets are used to keep a certain minimum available on the online servers.
How to use Gatecoin?
- When you decide to open an account with the Gatecoin exchange platform is a relatively simple process and takes place within minutes.
- You should do the following;
- Sign up for the platform and confirm your email address.
- Upload the required documents- Identification Card/passport, proof of area of residence, and uploading the filled source of funds questionnaire.
- Deposit funds in your Gatecoin account.
- You can now make an order using a selected trading pair of currencies.
Gatecoin Review summary
- Gatecoin is a Bitcoin exchange platform in Hong Kong that is registered with and regulated by the money service operator. A feature that gives current users and potential users the confidence of an additional level of security against loss of funds. It is an exchange program where there is a distinct separation between the companies’ funds and customer funds to further ensure safety and protection of funds.
- Gatecoin sits on the list of top 50 cryptocurrency exchange platforms in the world and is popular with holdings of the Hong Kong dollars (HKD).
- The traders are allowed access to the quick liquidity of other currency pairs such as HKD/BTC and HKD/BTC.
- It is an excellent platform for beginners.
- Has a global reach.
- Low transfer charges especially in the SEPA region.
- It is highly secured-this platform has third-party auditors and fiat deposits are secured in separate client accounts by reputable banks away from company’s funds.
- Has no real-time support
- The platform lacks quick transfers.
- The advance order has not been availed in this platform.
Thank you for checking out this Gatecoin exchange review. Make sure to visit our website and learn more about various cryptocurrency topics.