JV2017 Posted June 3, 2017 Share Posted June 3, 2017 just set up a gatehub account, wondering if someone can explain whether it is safer to keep xrp at gatehub or to leave them in Krkn... and the reasons why? Sure this question might have been asked before so any links to previous answers would be great! Thank you Link to comment Share on other sites More sharing options...
NanamiIsLove Posted June 3, 2017 Share Posted June 3, 2017 Kraken isn't a ripple network exchange ( though like Polo, they do accept deposits via ripple) so personally I'd stick with gatehub (hosted wallet). Anyhow for longterm storage it's better to go with something that isn't an exchange I guess. JV2017 1 Link to comment Share on other sites More sharing options...
Guest Posted June 3, 2017 Share Posted June 3, 2017 Money !!! Kraken a lot more... money buys security measures and puts people in place to refine security. Link to comment Share on other sites More sharing options...
JackTheRippler Posted June 3, 2017 Share Posted June 3, 2017 Safest place to store XRP is where you have full control, in other words, in your own wallet and not on an exchange. Between Gatehub and Kraken you can argue for which one is better. The comment above is one way to see it, Kraken is a lot bigger and have capital to invest more in security. Gatehub have a closer connection to Ripple and offer RCL wallets, this means you can access the wallet outside of Gatehub when you have the secret key. I don't recommend any, that's up to you decide. All exchanges have risks, including getting hacked, they can freeze your wallet for any reason or not allowing you to withdraw your XRP. PurpleCow 1 Link to comment Share on other sites More sharing options...
pompous-p Posted June 6, 2017 Share Posted June 6, 2017 On 2017-06-03 at 9:10 AM, JackTheRippler said: Safest place to store XRP is where you have full control, in other words, in your own wallet and not on an exchange. Between Gatehub and Kraken you can argue for which one is better. The comment above is one way to see it, Kraken is a lot bigger and have capital to invest more in security. Gatehub have a closer connection to Ripple and offer RCL wallets, this means you can access the wallet outside of Gatehub when you have the secret key. I don't recommend any, that's up to you decide. All exchanges have risks, including getting hacked, they can freeze your wallet for any reason or not allowing you to withdraw your XRP. Just yesterday, I inadvertently caused my Kraken account to freeze. Now I'm stuck waiting for them to unlock it! Link to comment Share on other sites More sharing options...
Hublot Posted June 6, 2017 Share Posted June 6, 2017 I vote Kraken, but poloniex and bittrex are pretty good exchanges as well. Link to comment Share on other sites More sharing options...
JackTheRippler Posted June 6, 2017 Share Posted June 6, 2017 3 hours ago, pompous-p said: Just yesterday, I inadvertently caused my Kraken account to freeze. Now I'm stuck waiting for them to unlock it! Yeah, I read that. Expect it taking some time to solve. I've been waiting a month now to get verified and sent two emails over a week ago to their support without answer... Link to comment Share on other sites More sharing options...
pompous-p Posted June 6, 2017 Share Posted June 6, 2017 10 minutes ago, JackTheRippler said: Yeah, I read that. Expect it taking some time to solve. I've been waiting a month now to get verified and sent two emails over a week ago to their support without answer... knowing my luck, kraken will get hacked before they unlock my account and I will lose all funds that I had left on there... Link to comment Share on other sites More sharing options...
JackTheRippler Posted June 6, 2017 Share Posted June 6, 2017 7 minutes ago, pompous-p said: knowing my luck, kraken will get hacked before they unlock my account and I will lose all funds that I had left on there... Hey, don't say that! I'm on Kraken too pompous-p 1 Link to comment Share on other sites More sharing options...
XrpFan Posted June 6, 2017 Share Posted June 6, 2017 I have been on Kraken since a while. I got verified when it was not so crowded. They are a bit slow but still stable. Better to keep your XRP on Paper Wallet or Hardware Wallet. Link to comment Share on other sites More sharing options...
Xi195 Posted June 6, 2017 Share Posted June 6, 2017 If you're looking for security either option is a toss up as far as I'm concerned. A cold wallet is your best option. If you're looking for a nice UI and trading experience I would go with GatHub. If you're looking for higher volume markets and more technical trading options it's Kraken. Keep in mind that GateHub is working on a mobile app which i think will be a huge advantage once it's approved Link to comment Share on other sites More sharing options...
tulo Posted June 6, 2017 Share Posted June 6, 2017 (edited) Technically Gatehub is not an exchange. It's a gateway and a UI. The funds on gatehub are not freezable (except their IOUs) and gatehub's personnel doesn't have access you your wallet, while in kraken the funds are in their control. Said that... PROS GATEHUB: It's built on RCL, so you increase the volume on it and the wallets are in your power, gatehub's employees cannot access your funds. Probably soon they'll be ILP enabled so it will open up lots more of possibilities. The APIs are the one of Ripple which are way better (but way more complex) than Kraken's ones. Fees are lower if you are a "low volume and taker" user on Kraken. PROS KRAKEN: Probably they have more volume and more pairs. Fees are better if you are a "maker or high volume" user. Fees are better for ETH and other coins provided by gatehub fifth. Edited June 7, 2017 by tulo Link to comment Share on other sites More sharing options...
Dreck420 Posted June 6, 2017 Share Posted June 6, 2017 (edited) not sure if any of you are Canadian but i have been waiting 12~ business days already to get to tier 3 on kraken. why does it take them so long to verify accounts now Edited June 6, 2017 by Dreck420 Link to comment Share on other sites More sharing options...
Mercury Posted June 6, 2017 Share Posted June 6, 2017 not sure if any of you are Canadian but i have been waiting 12~ business days already to get to tier 3 on kraken. why does it take them so long to verify accounts now [emoji20] 12 days? That seems excessive. I got 1-4 in about a week. Link to comment Share on other sites More sharing options...
Dreck420 Posted June 7, 2017 Share Posted June 7, 2017 No idea whats taking soo long and when i email them im getting this generic reply Hello, Thank you for your message and we apologize for the extreme delay in responding. Just to let you know: we have had a very large influx of new customers attempting to verify themselves. We have to manually review every verification request and we are very very VERY backlogged. We do not have an ETA at this time. Please attempt to be as patient as possible, we will contact you if we need something else or if you are successfully verified. Hope this helps! Regards, Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now