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Gatehub Vs Kraken

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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 :) 

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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.

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Guest

Money !!!

Kraken a lot more... money buys security measures and puts people in place to refine security.

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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.

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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!

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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...

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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... 

:dash1:

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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.

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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 

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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 by tulo

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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 by Dreck420

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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
 
 

12 days? That seems excessive. I got 1-4 in about a week.

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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,

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