Gatehub/Snapswap- Sell XRP and send USD to US bank account

[ripplebill]

Hi All, 

Looking for clarification on the process for selling XRP on Gatehub for USD and sending the proceeds to a US bank account. 

Background: I was an early ripple user based in US that funded a SnapSwap account with USD to buy XRP on ripple trade. I migrated my ripple hosted wallet to Gatehub like many others. 

I now have a ripple wallet on Gatehub and am connected to the Gatehub Gateway (but not SnapSwap)

 

Main Question: What is the most efficent way for me to sell my XRP in exchange for USD and send the USD proceeds to a US bank account? 

Do I need to move my XRP to a Gatehub hosted wallet (from my ripple wallet) in order to sell my XRP for USD? 

How does Snapswap still play into the equation if at all? 

Does Gatehub hold / secure the USD? Do they broker / act as market makers? 

Are there any limitations on USD payments sent from  Gatehub? 

 

Has anyone done this seamlessly? 

 

 

[Malloy]

Forget about SnapSwap, if you already converted everything you had into XRP, just forget about them.

You can do everything at Gatehub, sell your XRP to USD and transfer them to you bank.

https://www.gatehub.net/fees

If you have question, guys from GateHub are always very active here...and very helpful.

[namini]

Just make sure you don't convert your XRP for Snapswap.USD but for Gatehub.USD by removing the trust line to Snapswap if you still have one.

Try to convert a small amount first.

[ripplebill]

Thanks - So is Gatehub also acting as an exchange? If I am selling XRP to buy USD on Gatehub, am I receiving USD from another Gatehub wallet holder or is Gatehub acting as a market maker, taking my order to market to buy the USD, filling it and then fulfilling my order?