gatehub wallet

[Talha]

hey there,

i just transferred about 0.012000 btc from my local Bitcoin wallet to gatehub wallet in order to exchange it with ripple..

about 2 hours later I received btc in gatehub wallet and they automatically convert my btc to xrp without any confirmation. And the bad thing is , I only got 19.98 XRP insted of 103 ( according to current price) 

can anyone here please inform me what is the issue and how can I get my remaining xrps 

thank you

[TJS]

Hi all, 

Given the recent issues that several have noted regarding Gatehub, can the more seasoned investors here recommend a hosted wallet? 

Not quite ready to go with a Nano, however Gatehub does not seem to be the place to park XPR's right now while retaining availability.

Thanks!

[Dymac]

I have had zero issues with Gatehub besides the lack on support. I had many delays late December but my funds were always transferred eventually. About the Ripple Wallet through Gatehub I found this:

 

Holding your money in your Ripple wallet on GateHub is similar to holding it in a vault with some exceptions. In this instance, GateHub acts as an interface to your personal vault but they do not have the ability to withdraw your funds or prevent you from withdrawing your funds. This is because only you have the secret key. If GateHub closes your account you can access your Ripple wallet through other platforms or a desktop client using your secret key. GateHub does, however, hold an encrypted version of your secret key so if they are somehow compromised a hacker may be able to steal your funds. This is one of the reasons why it is so critical to use a strong password and two-factor authentication to log in to GateHub.

You can trust other Ripple wallet holders and trade your XRP for their assets. For example XRP for USD. Note though, that XRP is a native asset of the Ripple protocol that does not exist in physical terms. When you have XRP in a Ripple wallet it is YOUR XRP. If you trade XRP for an asset like BTC or USD then you have traded your XRP for an IOU of BTC or IOU of USD, that is you are TRUSTING another entity to give you custody of the BTC or USD if you ask for it. This is why you must extend a trust line to another account if you want to trade with that account. GateHub won't do it for you, you must do your due diligence and decide whether you trust the account holder issuing the IOUs.

[mrcarrot]

8 hours ago, Talha said:

hey there,

i just transferred about 0.012000 btc from my local Bitcoin wallet to gatehub wallet in order to exchange it with ripple..

about 2 hours later I received btc in gatehub wallet and they automatically convert my btc to xrp without any confirmation. And the bad thing is , I only got 19.98 XRP insted of 103 ( according to current price) 

can anyone here please inform me what is the issue and how can I get my remaining xrps 

thank you

You might be seeing your wallet wrong.  On your main wallet overview, Gatehub shows you your approximate wallet worth in terms of XRP.  Since you are showing less than the required 20 XRP for the Ripple wallet to be active, I'm assuming your account is displaying wrong.  You need AT LEAST 25 XRP in your Wallet to receive any other crypto currency.  You need 20 XRP for the Ripple wallet to be active (which is locked and can not be transferred out).  You ALSO need 5 XRP for each connected Gateway (such as BTC in your case).  I HIGHLY recommend having at least 40 XRP in your Ripple wallet at GateHub to rule out a low balance being an error causing factor.  Buy some XRP from Binance (or another exchange) and fund your GateHub XRP wallet with it (note, binance requires at least 22 XRP for withdrawal).

[crypto2libertas]

8 hours ago, TJS said:

Hi all, 

Given the recent issues that several have noted regarding Gatehub, can the more seasoned investors here recommend a hosted wallet? 

Not quite ready to go with a Nano, however Gatehub does not seem to be the place to park XPR's right now while retaining availability.

Thanks!

Nothing wrong with a ripple wallet in gatehub. Just make sure it is a ripple and not a hosted wallet. You control the private key to your ripple wallet and you can import them in any other ripple wallet such as toast wallet. Gatehub doesn't have access to your private key or gatehub password.