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Razzle

Changelly vs GateHub

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Newbie here looking to purchase XRP. Any feedback would be appreciated! 

I am planning to purchase $1500 of bitcoin on Coinbase and then convert it to XRP. I already have a coinbase account because I bought ETH a while back. I'm wondering if I should use changelly or gatehub for this. Pros/cons to each? I have read good/bad things about both and am unsure which would be better. It seems like Changelly is faster because there is no verification process. So why use GateHub?

I'm in the US fyi. Can I buy XRP through Kraken with USD to avoid buying bitcoin first? 

Edited by Razzle
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Sending to Gatehub would be cheaper in terms of fees, but exchange rates will be slightly different - Changelly uses various exchanges and Gatehub uses Gatehub Fifth rates, so either might be cheaper at different times.

If using Gatehub, you'll need to create a Ripple wallet with Gatehub, which will lock up at least 20 XRP that you won't be able to send on to the Nano, whereas Changelly will send everything directly to your Nano.

I believe that for crypto to crypto transfers on Gatehub you don't need full verification (I remember that my Gatehub Fifth verification took less than a day but the full verification took weeks!).

I've only had good experiences with Gatehub, doing exactly this sort of thing frequently. Never used Changelly.

Also, as of right now, there doesn't seem to be an option on Changelly to exchange to XRP? Shapeshift.io provide a similar service though.

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2 minutes ago, BigAggie said:

I wonder if you can't exchange to XRP on Changelly has something to do with what I experienced

Ha, just read your topic, that's funny. Yeah most likely that's the reason!

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3 hours ago, Razzle said:

Newbie here looking to purchase XRP. Any feedback would be appreciated! 

I am planning to purchase $1500 of bitcoin on Coinbase and then convert it to XRP. I already have a coinbase account because I bought ETH a while back. I'm wondering if I should use changelly or gatehub for this. Pros/cons to each? I have read good/bad things about both and am unsure which would be better. It seems like Changelly is faster because there is no verification process. So why use GateHub?

I'm in the US fyi. Can I buy XRP through Kraken with USD to avoid buying bitcoin first? 

If you already have gatehub, here’s the directions I followed to get XRP. Super simple and to the point.

 https://steemit.com/ripple/@thisjustin/how-to-buy-ripple-xrp-instantly-with-usd

Also, hate to be that guy, but feel free to use my changelly referral if you like the method above. GL with whatever you do! 

https://changelly.com/?ref_id=03a0415f6602 

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10 hours ago, at3n said:

Sending to Gatehub would be cheaper in terms of fees, but exchange rates will be slightly different - Changelly uses various exchanges and Gatehub uses Gatehub Fifth rates, so either might be cheaper at different times.

If using Gatehub, you'll need to create a Ripple wallet with Gatehub, which will lock up at least 20 XRP that you won't be able to send on to the Nano, whereas Changelly will send everything directly to your Nano.

I believe that for crypto to crypto transfers on Gatehub you don't need full verification (I remember that my Gatehub Fifth verification took less than a day but the full verification took weeks!).

I've only had good experiences with Gatehub, doing exactly this sort of thing frequently. Never used Changelly.

Also, as of right now, there doesn't seem to be an option on Changelly to exchange to XRP? Shapeshift.io provide a similar service though.

Thank you for the info. 

Do I have to convert in changelly first to get 20 xrp to activate my gatehub wallet? I was hoping to send my bitcoin straight to gatehub and trade it for arp without using changelly. 

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30 minutes ago, Razzle said:

Do I have to convert in changelly first to get 20 xrp to activate my gatehub wallet? I was hoping to send my bitcoin straight to gatehub and trade it for arp without using changelly. 

Yeah you will, you'll actually need to send 26 XRP, as you need an additional 5 to create a trustline to Gatehub Fifth to receive the BTC, and the actions of creating the trustline and exchanging BTC for XRP will eat a small fraction of an XRP in fees. Once you exchange the BTC to XRP you can then delete the trustline and reclaim that 5. Although you may as well keep it there if you're going to do this more than once.

You'd also need an additional 5 XRP in reserve if you want to do the exchange by using the "trade" feature instead of the "exchange" feature. Trade lets you place an order in the order book for a specific price and wait for it to be taken by someone else, or exchange will do an immediate exchange at the current market rates (less predictable).

Hope this is clear.

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1 hour ago, at3n said:

Yeah you will, you'll actually need to send 26 XRP, as you need an additional 5 to create a trustline to Gatehub Fifth to receive the BTC, and the actions of creating the trustline and exchanging BTC for XRP will eat a small fraction of an XRP in fees. Once you exchange the BTC to XRP you can then delete the trustline and reclaim that 5. Although you may as well keep it there if you're going to do this more than once.

You'd also need an additional 5 XRP in reserve if you want to do the exchange by using the "trade" feature instead of the "exchange" feature. Trade lets you place an order in the order book for a specific price and wait for it to be taken by someone else, or exchange will do an immediate exchange at the current market rates (less predictable).

Hope this is clear.

That makes sense, thanks! Changelly is out of XRP right now so I'm going to use shapeshift. 

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