Comparison of Bit vs Gatehub [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bit vs Gatehub comparison!

Your expert: Alejandro Borja

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

gatehub

Gatehub

  • Threenvest valuation: 3/5
  • US legal: No
  • Security: High 4/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0.07%/0.04%

Earns

Yes

Customer service

3/5
0,30%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

3.6 – Reasonable fees but higher for certain advanced trading options.
3.8 – Reasonable fees with strong focus on simplicity and security.

Level

0.07%/0.04%
0,30%

Brief explanation

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.
GateHub charges a flat trading fee of 0.3% on all completed buy and sell orders, which is slightly above the industry average. The platform does not differentiate between maker and taker fees, applying the same rate to both. Additionally, there are no fees for dormant accounts or for creating a new wallet. Withdrawal fees, however, are relatively high, with a fixed fee of 0.005 BTC for Bitcoin withdrawals. Deposit fees vary depending on the method used, with no fees for cryptocurrency deposits but potential costs for fiat deposits, depending on the method .

Bit

bit
Read bit review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

Read bit review

Gatehub

gatehub
Read bit review
  • Security Methods: GateHub employs several advanced security measures to protect user assets. These include AES encryption to safeguard personal and financial data, two-factor authentication (2FA) for additional account protection, and state-of-the-art anomaly detection systems to identify and prevent malicious activities. Additionally, GateHub offers anti-phishing features to further enhance account security​​.
  • Insurance: GateHub provides insurance via the Coincover platform, allowing users to insure their cryptocurrency holdings up to $100,000. This insurance offers a significant safety net for users, protecting their investments against potential breaches and ensuring peace of mind​​.
  • Number of Users: GateHub boasts a substantial user base, with over 1.5 million users as of July 2023. This large number of users indicates a level of trust and satisfaction within the crypto community, suggesting that GateHub is a reliable platform for trading and storing digital assets​​.
  • Regulation and Compliance: GateHub is governed by English law and adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This regulatory compliance ensures that the platform operates within legal frameworks, adding a layer of legitimacy and trust for users​​.
  • Transparency: GateHub is transparent about its operations, including its security measures and insurance options. This openness helps build trust with users by providing clear information on how their assets are protected and what measures are in place to secure their investments​​.
  • Pros
  • User-friendly interface.
  • Strong security measures.
  • Supports fiat and cryptocurrencies.
  • Cons
  • Customer support can be slow.
  • Primarily focused on Ripple (XRP).

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
GateHub Limited

Regulation

Regulation not specified
Regulated in the Reino Unido

Year founded

Unknown
2014

Founder

Unknown
Enej Pungerčar

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
Yes

Card

No
Yes

Comparative table

Bit FEATURES Gatehub
Allows small minimum trades, accessible for those looking to start with modest amounts.
Minimum Trade
Minimum trade size is $10, making it accessible for small investors ​​.
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Trading and Transaction Fees
Flat trading fee of 0.3%, slightly above the industry average. High withdrawal fees for BTC at 0.005 BTC ​​.
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Number of Cryptocurrencies
Supports 8 major cryptocurrencies including BTC, ETH, and XRP ​​.
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Crypto-to-Crypto Trading Pairs
Offers trading pairs primarily with XRP, USD, and EUR, but lacks diversity compared to top exchanges ​​.
The website provides clear and detailed information about fees, policies, and trading options.
Website Transparency
Transparent about fees and services, detailed fee page available ​​.
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Credit/Debit Card
Users can deposit funds using credit and debit cards, although fees apply.
High-level security storage solutions including cold storage options to protect user assets.
Storage Offering
Supports secure storage with 70% of assets in cold storage, AES encryption, and 2FA ​​.
Offers staking options but with limited rewards compared to leading competitors.
Staking and Rewards
Limited staking options and reward programs compared to competitors ​​.
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Mobile App and Desktop
User-friendly interface on mobile and desktop, but mobile app development still in progress ​​.
Customer service is available, but response times can vary, impacting user experience during peak times.
Customer Service
Offers live chat and email support, but response times can be slow ​​.
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.
Deposit and Withdraw
Multiple methods for deposit and withdrawal, but high withdrawal fees and no credit card support ​​.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4/5

Additional features

Spot trading, margin trading, lending services, OTC trading
Wallet services, fiat on/off ramps, staking, Gatehub trading platform

Anonymity

Yes
No

Key points

Available cryptocurrencies

30+
10+ (focus on XRP and similar assets)

User-friendliness

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.
Gatehub provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.
Offers reasonable value for money with competitive fees and strong security features, though it may lack some advanced trading features.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.
Ideal for traders seeking a secure platform with competitive fees and a focus on simplicity.

Base currencies available

JPY, USD, EUR, BTC
USD, EUR, BTC

Account

Trading

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.
GateHub provides a secure and user-friendly platform with easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.
GateHub provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.
GateHub offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

No
Yes

Customer Service

BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.
GateHub offers support via email and live chat. The support team is responsive, but the lack of 24/7 support may be a limitation for some users.

Security

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.
GateHub offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert in the cryptocurrency market, I recommend GateHub primarily for its user-friendly interface and robust security features. The platform is particularly suitable for beginners due to its straightforward design and real-time portfolio analytics. GateHub’s strong focus on Ripple (XRP) and its integration with fiat currencies make it a versatile choice for those looking to manage both crypto and traditional assets. However, potential users should be mindful of the high withdrawal fees and the limited selection of cryptocurrencies. Overall, GateHub is a reliable platform for those who prioritize security and ease of use in their crypto trading experience.

View all comparisons against Bit

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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