Gatecoin
- Overview
- Security
- User Experience
Volume 24H: BTC 440/24h
Gatecoin is a regulated BTC and ETH token exchange enabling individuals and institutions to trade and invest in a wide variety of cryptocurrencies and Blockchain assets. The exchange presents itself as a bridge between Forex and digital asset markets and is best known as the first exchange in the world to list Ethereum's ERC20 standard tokens and to offer participation in TGEs or ICOs.
Though the platform is not difficult to use, creating a verified account that can access all the functionalities and benefits can be quite a hassle due to procedures. The exchange is better suited to small amounts of crypto exchange. Not recommended for those looking to quickly withdraw / exchange large quantities, nor for those seeking privacy.
Crypto Currencies Support
- 1ST
- BCH
- BTC
- ETH
- SNGLS
Traditional Currency Support
- EUR
- HKD
- USD
Language Support
- Chinese
- English
- French
- Japanese
- Korean
Country Support
- Australia
- Canada
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- US partial
Platforms Systems
- — Api
- — Web Interface
Stock Market Options
Though Gatecoin stores most crypto-asset funds in multi-signature cold wallets, in May 2016, they experienced a 2 million $ security breach. The company does its best to use the latest security patches, but recommends users store the majority of their funds in their own secure wallets, independent of the exchange.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | At Least 80 Of User Funds Are Stored In Cold Storage |
Gatecoin LTD is a private Hong Kong-based company founded by investment banker Aurelien Menan. They got into the news as the first exchange to endorse ETH and Dapps. However, the company has seen some negative headlines such as the security breach in 2016 and frozen bank accounts in Sept 2017. Their de-listing of some cryptocurrencies in November 2017 made the exchange less appealing for some.
Summary:
Gatecoin stands out because of extensive documentation and risk disclosure. Fiat support is also a plus, but they need better negotiating with banks. The 2017 USD and HKD blockage still presents concern for users. If you're looking to exchange and withdraw small amounts, are not in a hurry, and aren't too concerned about anonymity, Gatecoin might be just the right platform for you.
| Ease of use | Intuitive |
| Transaction Fees | Between 0.20-0.30% Depending On Volume |
| Deposit/Withdrawal Fee | N/A |
| Deposit/Withdrawal Fee For Bank Transfer | 7usd/deposit, 10eur/deposit, 50hkd/deposit |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | N/A |
| Anonymous Trading | No |
Deposit/Withdrawal Options:
Deposit from bank account, Withdrawl funds to bank account, Send/Receive Crypto
Functionality:
Gatecoin allows user to choose market or limit order types when buying or selling and to make direct bank withdrawals and deposits. However, their coin pairing is quite limited and, as of December 2017, users were unable to make use of the withdrawal functionality for USD and HKD due to frozen accounts. There is also an OTC trade option, but the process involves many steps and is time consuming.
Most common customer complaint:
— Transaction fees, Frozen USD & HKD accounts(starting 28 Sept 2017)