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Gatecoin Exchange ReviewCentralized
In March 2019, Gatecoin shut down due to alleged financial difficulties. We have updated our score.
Gatecoin is a digital asset or cryptocurrency exchange with headquarters in Hong Kong. It was founded in July of 2013 by Aurélien Menant – a former investment banker. A Gatecoin exchange review reveals that Gatecoin seems to be the first cryptocurrency exchange to list Ether or Ethereum (Ticker symbol: ETH) – in August, 2015. The exchange shut down in March 2019, citing financial difficulties.
Gatecoin seems to be the only Bitcoin-related technology company that enjoys the support of the Hong Kong Science and Technology Parks Corporation (HKSTP). The latter is a public corporation that was set up in 2001 by the Hong Kong Government. It aims to support or advance technology and innovation in Hong Kong.
A Gatecoin exchange review also reveals that they enjoy the support of Tuspark, short for Tsinghua University Science Park - a business park that was built by high-tech Chinese company, Tuspark Holdings Limited.
Gatecoin served the crypto community via no less than 15 active markets. A Gatecoin exchange review reveals that they enforce strict AML and KYC policies that are in line with global best practice and the Hong Kong Anti-Money Laundering Ordinance (AMLO). Being one of the leading digital asset exchanges in Hong Kong, they also offer trading in the Singapore Dollar (SGD) via BTC-SGD and ETH-SGD trading pairs.
Gatecoin also pride themselves of being a “gateway to the ecosystem of decentralized applications”. The reason for this is because they have from the very beginning, made a serious effort to list ERC20 tokens that are involved in decentralized applications (dApps). One can’t help to wonder how this ties in with their strict AML and KYC policies as it seems to be the opposing ends of two different worlds.
They have suffered an alleged security breach in 2018. They claim that about 185,000 ETH and 250 BTC were lost in a hack of one of their hot wallets that started on May 9, 2018.
Gatecoin Exchange Review, Trading Fees, Deposit and Markets
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Gatecoin Exchange Rating Analysis
Last edit 28.11.2019
Gatecoin, which was founded in 2013 and launched its trading platform in 2015, has been operating a long time in the space and became a respectful exchange in its own right, even being remembered as the first exchange to list Ether after its launch in August 2018. While Gatecoin used to be home to many traders, the exchange suffered a hack in 2018 in which $2M were stolen, and has since struggled to remain relevant in this hyper-changing space.
The exchange offered less and less "trendy" currencies to trade, an outdated UI and an inescapable sense of risk due to the fact it was breached once. Traders today avoid Gatecoin; This has unfortunately led to its recent shutdown, days after we finished rating the exchange. Apparently, the lessening volumes has made it difficult for the exchange to continue operations.
After its shutdown, users online complained that some of their assets remained on the exchange with their recovery facing problems; as of now they are in contact with Gatecoin's liquidator and local police. This is yet another reminder to not keep funds on exchanges, especially ones that appear like they are about to shut down.
We updated our score to portray the current situation with Gatecoin.
Gatecoin Exchange Additional Information
Gatecoin Establish Date