Gatecoin closes all its operation. On the Official blog, they have explained the reason behind shutting down the exchange. “In light of the circumstances, we have suffered financial difficulty over a period time to an extent that we are no longer able to support our operation”.
Gatecoin is an exchange that deals in regulated Bitcoin and Ethereum tokens. The company was initially a startup by a group of investment banking professionals in 2013 in Hong Kong. The aim of Gatecoin is to provide a convenient and easy platform for its users so that they can invest in cryptocurrency and blockchain assets.
The company is licensed under Hong Kong money service operator. The infrastructure of Gatecoin is strong and robust and is audited yearly by a third party institution. These third party institutions are a group of world-class security experts who audit the standards of exchange. Gatecoin has multiple tie-ups with the international financial institution.
Cryptocurrency trading occurs against flat currency such as US Dollar, Euro, Hong Kong Dollar, and Yen. Gatecoin has some exceptional features, which makes it a preferred choice for users. Currency liquidity is based on the concept of the market maker rebate program. Thus, users can frequently buy and sell their cryptocurrencies and can make an instant exchange.
Gatecoin follows strict AML and KYC guidelines thus regulating its compliance efficiently. Due to compliance, users develop a sense of trust and have transparency on the whole exchange system. It also ensures that the new users added to the community are the genuine and crypto enthusiasts.
Smart features of Gatecoin
Gatecoin is a not a central entity. Thus, it focuses on achieving bank grade security. It follows the process of reconciliation and segregates all the user accounts. For additional security, currency is in cold storage. Every transaction uses Multisig technology, which meets all the security standards that are essential to save the accounts from hackers or any cyber criminal activity.
Trading professionals with immense domain knowledge and experience have designed the trading tools. These tools help in analyzing the international market value of crypto. A user can also use real-time updates and live data streaming on currency for knowing the value. Gatecoin’s trading engine is fast and has low latency.
The user can connect with the support team of Gatecoin for any query regarding exchange or trading. Their team provides assistance 24*7 and also has a strong API. Users can also trade easily on their smartphones by using mobile optimized Interface. It is even more convenient than using a desktop or a laptop. The application is compatible with both iOS and Android devices.
Thus, Gatecoin is the exchange of choice for Bitcoin and Ethereum enthusiast.
How to setup a Gatecoin account?
In order to create a new Gatecoin account, log on website. Enter your email ID and password to register. A user ID is shared on the registered email along with a verification link.
Once the email is verified, a new window for verification opens. First step verification requests for users personal details such as name, date of birth and nationality.
In step 2, the user has to enter contact information, address, postal code, and country.
In step 3, the user has to verify the email ID and in step 4, the user has to upload documents for proof of identity and address. This is essential to verify if the user is authentic.
Once all the steps of verification are complete, the user can enable two-factor authentication (2fa). 2fa is an add-on security where a user has to download Google Authenticator app and scan the QR code from his account. Thus, every time user signs in, he not only has to enter a password but also a 6-digit code that goes to a registered number.
Thus, a user can select the trading pair of his choice and start a transaction for either buying/selling or exchange it in the crypto community.