What Is Gatehub (USDT)?
Gatehub USDT is a stablecoin introduced by Gatehub on the XRP ledger, its value pegged and backed by fiat-based Tether USDT. Gatehub USDT represents an issuance of the US Dollar on the XRP Ledger. These issuances, including Gatehub USDT, function as tokens that can be exchanged for a fungible asset, be it USDT, EUR, GBP, gold, or various cryptocurrencies, on their respective native networks.
Tether, launched in 2014, operates as a blockchain-driven platform with the primary aim of enabling the utilization of fiat currencies in a digital format. Tether introduces a modern perspective on money, aiming to disrupt the conventional financial system. It has achieved notable progress by affording users the capacity to transact with traditional currencies seamlessly over the blockchain, all without the typical volatility and complexity associated with digital currencies.
As the pioneering blockchain-driven platform to facilitate the digital utilization of traditional currencies, Tether has democratized cross-border transactions conducted over the blockchain. It has effectively made familiar, stable accounting units available for use in a digital realm, simplifying and enhancing cross-border financial transactions.
Although anyone can issue a crypto asset, it's essential for individuals or organizations to trust that the issuer can redeem it for the underlying asset if they want to accept payment in that asset. GateHub is one such organization that has been operating since 2014 and has gained the trust of its users.
One of the primary strengths of Gatehub USDT and other stablecoins is that they provide a fiat-denominated safe haven and a decentralized blockchain-based tool for value transfer.
Who Are the Founders of Gatehub?
Enej Pungerčar is the founder and CEO of Gatehub. GateHub is a platform for the Internet of Value, built on XRP Ledger protocol. It allows everyone to send, receive, trade and manage any type of assets.
What Makes Gatehub Unique?
Gatehub is a decentralized exchange running on top of the XRP ledger that offers various innovative features, including wallet protection and stablecoin issuance. Its user-friendly interface is easy to understand, enabling users to send money through email and even international wire transfers.
Gatehub Wallet
The Gatehub wallet provides support for not only XRP and over 100+ XRPL IOU tokens but also has multi-currency capabilities, enabling users to send and receive payments from any supported network. With the ability to instantly exchange assets using the best rates provided by multiple sources, Gatehub ensures the best possible exchange for its users.
Wallet Protect
Wallet Protect is a service provided by GateHub, a cryptocurrency wallet and exchange platform. It is a yearly paid subscription that provides protection for cryptocurrency stored in a user's wallet by making the wallet a "multisignature" or "multisig" wallet. Transactions are signed by multiple keys, increasing security and allowing for easy recovery in case of emergency. Wallet Protect also includes Fraud Shield, which scans destination addresses through fraud checks to help prevent losses of funds, and Theft Cover provided by Coincover, which provides up to $100k of coverage in case of theft. Wallet Protect users also receive a personalized certificate confirming their coverage level and protection.
Cyber Attack
GateHub on July 19, 2019, addresses a cyber attack on the platform. The security team concluded a forensic investigation and identified the accounts that were targeted and the information that was compromised. They believe the perpetrator gained unauthorized access to a database holding valid access tokens of customers and used them to access 18,473 encrypted customer accounts, which was a small fraction of their total user base. The perpetrator was able to access email addresses, hashed passwords, hashed recovery keys, encrypted XRP ledger wallets secret keys, first names, and last names of the affected customers.
GateHub disabled all access tokens to block the perpetrator from accessing more accounts. They also decided to take additional steps to safeguard accounts, such as generating new encryption keys and re-encrypting all sensitive information on all accounts upon next sign-in. GateHub is also taking other precautions behind the scenes. They are working closely with law enforcement agencies from different jurisdictions to identify the criminal hackers responsible for the theft and freezing the stolen funds before they are cashed out. Once legal procedures are completed, the customers will know the exact amount of funds they will be able to retrieve. GateHub requests customers to remain patient and report any suspected losses to their local law enforcement agencies if they haven’t already done so.
Gatehub Transfer Fee
Gatehub's current policy on USDT tokens on the XRP ledger includes a transfer fee of 0.3%. This indicates that whenever USDT tokens are moved on the XRPL, a fee of 0.3% is charged on the transferred amount.
Related Pages:
Read more about: Gatehub
Learn more about: Gatehub Ecosystem.
Visit: Gatehub.net.
How Many Gatehub USDT Are There in Circulation?
There is an initial maximum supply of 293,638 USDT tokens, of which an estimated 88,260 USDT are currently in circulation as of September 2023. Check out Gatehub.net to learn more.
Where Can You Buy Gatehub USDT?
Gatehub USDT is a token trading on the XRP ledger DEX, the most straight forward way to acquire USDT tokens would be to purchase them through XRPL DEX.
If you are looking for alternative exchanges where you can purchase Gatehub USDT, Bitrue is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.
How to stay tuned for further updates?
If you wish to receive more updates about the Gatehub ecosystem and any upcoming events, we suggest you follow @GateHub on Twitter.
