A list of bankrupt gateways [let's make]

[Graine]

To all the new faces:
If you have just discovered Ripple and Ripple Consensus Ledger, you might discover that some IOUs are worth less than others. Sometimes substantially so. Please do not hurry to exploit such 'arbitrage' opportunity. Usually, there is an explanation for the hefty discount. 

Over the years, Ripple ecosystem has seen gateways and even a bank (Fidor, anyone?) go in and out of business. The wallets quoted below belong to businesses that are no longer operational. It means that you won't be able to redeem BTC/LTC/FIAT from Ripple network. Please, do not trade them unless you are ready to lose your money. 

1.  ~dividendrippler Address： rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX
It used to be a very convenient semi-automatic non-KYC gateway. Sadly, not anymore. 

2.  ~btc2ripple Address： rMwjYedjc7qqtKYVLiAccJSmCwih4LnE2q
      Btc2ripple aka ~snapswap was once a prominent gateway that facilitated US side for ~Fidor bank remittance services. 

3. ~PayRoutes Address： rNPRNzBB92BVpAhhZr4iXDTveCgV5Pofm9
Be especially careful with this one. It may appear it is operational, but the USD/EUR/ILS redemption are done only by one account that has destination tag "1". I'd wager that belongs to an owner or somewone connected to them. They DO NOT redeem fiat. They may ask you for your ID/BILL for "KYC" and will forever ignore you ever since. Israeli business register has a warning against the company "infraction of the law". 

4. ~justcoin-hot Address： rJHygWcTLVpSXkowott6kzgZU6viQSVYM1
Justcoin is a victim of a glorious exploit of partialpayments flag. Afterwards, ANX Hong-Kong bought them out. But they do not honor the outstanding IOUs of Justcoin.

5. ~rippleru Address： rUSrgqXVFEw5ZaruTqiDrXDecRuGnhFqu8

Rippleru was a service by Z-Payment to provide RUB in a form of ZPR token. As of now, Z-Payment does not support their gateway. 

6. ~wisepass Address： rPDXxSZcuVL3ZWoyU82bcde3zwvmShkRyF
The website is still operational, but they do not respond on emails. 

7. ~bitso      Address: rG6FZ31hDHN1K5Dkbma3PSB5uVCuVVRzfn

https://blog.bitso.com/terminación-del-bitso-ripple-gateway-e8ca72189b0b

If you know any other gateway that became insolvent, please, write their name/address in comments.

 

Edited April 5, 2017 by Graine
Added wisepass, bitso

[Professor Hantzen]

Coinex: rsP3mgGb2tcYUrxiLFiHJiQXhsziegtwBc NZD

Coinex ran from April 2014 for a year and then closed down (gracefully).  Not sure why it shut down, but the owner was hired by Stellar I believe.

[Mercury]

Also please note- some of these gateways/ services may appear to be still operational. They may have websites, even reply to some emails and there might be markets for their IOUs.

Ex: btc2ripple has an up to date website and sometimes replies to emails and asks for KYC, however, forum member's experience (or lack thereof) and the inability to withdraw funds has lead to the community at large to flag this gateway as dead, not operational, or even acting as a scam.

If unsure about a gateway take the time to look it up on the forum using the search button at the upper right corner, read great posts like this one, and as a last resort ask the forum at large. No one here wants to see you loose your money.

 

[Apollo]

There are some quality options out there. Users commonly report good things from both Bitstamp and Gatehub for example. I have not personally used either, but if I was in the market for a gateway today that is where I would start.  

[enrique11]

This is a good idea. Would be nice if we could pin it. Also would be nice to have some metrics for how ripple markets/gateways are doing within their respective exchanges. I know we have ripplecharts, but for example, I can't find gatehub USD<>XRP market anymore, so although the gatehub is fine, a particular xrp market within that exchange appears to be dead.

Correction: I migrated to gatehub from rippletrade in the US, but I cannot find a gatehub gateway in the US to deposit USD from an American bank account and trade USD for XRP.

Tracking ripple markets within exchanges might give us good insight as to which regions and cryptocurreencies are using xrp,  being supportive of the xrp ecosystem.

Edited April 5, 2017 by enrique11
correction

[mazi]

1 hour ago, enrique11 said:

I can't find gatehub USD<>XRP market anymore, so although the gatehub is fine, a particular xrp market within that exchange appears to be dead.

@enrique11, Can you provide some support for this statement? Here's the USD:GateHub/XRP market and you can see it is quite lively:

https://charts.ripple.com/#/markets/XRP/USD:rhub8VRN55s94qWKDv6jmDy1pUykJzF3wq?interval=4h&range=1m&type=candlestick

I'd like to kindly ask you to edit or remove your statement as it seems completely unfounded and could be hurting GateHub's business. Thanks.

[enrique11]

3 hours ago, mazi said:

@enrique11, Can you provide some support for this statement? Here's the USD:GateHub/XRP market and you can see it is quite lively:

https://charts.ripple.com/#/markets/XRP/USD:rhub8VRN55s94qWKDv6jmDy1pUykJzF3wq?interval=4h&range=1m&type=candlestick

I'd like to kindly ask you to edit or remove your statement as it seems completely unfounded and could be hurting GateHub's business. Thanks.

Correction: I migrated to gatehub from rippletrade in the US, but I cannot find a gatehub gateway in the US to deposit USD from an American bank account and trade USD for XRP.

Edited April 5, 2017 by enrique11

[Dennis]

Wow - great idea for a thread - Snapswap and Justcoin are defunct?  Yikes...

Thanks for the heads up

[Xi195]

14 hours ago, enrique11 said:

Correction: I migrated to gatehub from rippletrade in the US, but I cannot find a gatehub gateway in the US to deposit USD from an American bank account and trade USD for XRP.

GateHub accepts USD from any American bank via wire. 

Choose wallet > Deposit > Bank

...something like that

You're looking for wire instructions to GateHub. Their bank is in Slovenia. 

[enrique11]

3 hours ago, Xi195 said:

GateHub accepts USD from any American bank via wire. 

Choose wallet > Deposit > Bank

...something like that

You're looking for wire instructions to GateHub. Their bank is in Slovenia. 

Yes, but I was hoping for something local and less complex, like SnapSwap was. My Bank of America account was linked to theirs so transfers were easy.  Thanks for the reply though. I appreciate it.

[Xi195]

3 minutes ago, enrique11 said:

Yes, but I was hoping for something local and less complex, like SnapSwap was. My Bank of America account was linked to theirs so transfers were easy.  Thanks for the reply though. I appreciate it.

I see. GateHub will be enabling ACH for U.S. customers soon which I'm sure we will hear about here. I'm pretty sure that's how SnapSwap was setup. 

[enrique11]

Just now, Xi195 said:

I see. GateHub will be enabling ACH for U.S. customers soon which I'm sure we will hear about here. I'm pretty sure that's how SnapSwap was setup. 

Awesome. Thanks!

 

[jindiesel]

7 hours ago, Xi195 said:

I see. GateHub will be enabling ACH for U.S. customers soon which I'm sure we will hear about here. I'm pretty sure that's how SnapSwap was setup. 

Is there an official statement from Gatehub on this? It would be awesome if this is true - wires suck. 

[Xi195]

17 minutes ago, jindiesel said:

Is there an official statement from Gatehub on this

 

[Blockchaintoken]

I got burned by Payroutes last year. Ripple still had them listed as a trusted Gateway. The fact that an XRP IOU can be worth substantially less from one Gateway to another is what will do irreparable harm to Ripple and XRP. Now, I only speculate with XRP on exchanges. I don't ever see using it as anything other than an alt coin investment. The science behind it is smart and useful, but lets face it, it's easily replaceable. Compounded by the fact that Ripple the company and XRP the token/coin/IOU are fickle friends of convenience. Personally, I'm hopeful that we see a doubling or tripling in USD value before the year is out. Just under $1 USD is my exit number.