January 27, 2021

GateHub launches Wallet Protect to cover up to $100k of cryptocurrency assets per wallet protected by Coincover

GateHub, the multicurrency walletprovider, has launched Wallet Protect, a new service for XRP ledger wallets thatprovides back-up key creation, secure key storage, fund recovery and theftcover. These new safety features, which are provided by Coincover, offer peace of mind for anyonelooking to guarantee the safety of their cryptocurrency holdings.


With 1.5 million customers,GateHub is one of the world’s largest XRPL gateways, allowing its users to sendand receive payments from any supported network and across a range of fiat, cryptocurrency,and commodity assets.


The launch of Wallet Protectdemonstrates GateHub’s commitment to protecting its customers’ cryptocurrencyassets from loss and theft. The new capabilities include:


·       Back-up key creation: guaranteeingthe ability to access cryptocurrency should a wallet holder lose their key.

·       Secure key storage: preventingany third-parties from gaining unauthorised access to keys, using highly securesecurity protocols and access control.

·       Fund recovery: should it beimpossible to access a wallet, either due to customer error or businessfailure, the user’s cryptocurrency assets will be repopulated to a new wallet,with back-up keys created.

·       Theft cover: if a user’scryptocurrency were stolen or otherwise compromised and could not be retrieved,Wallet Protect’s insurance policy would provide financial compensation.

·       Transactionscreening - transactions are checked against Chainalysis, xrplorer and GateHub fraudlists to make sure your money stays in the right hands.

·       Real-time scanning for suspiciousaddresses provided by GateHub, xrplorer and Chainalysis as well as emergencyrecovery of funds.

Enej Pungerčar, founder and CEOof GateHub, said, “With Wallet Protect we are bringing the highest levels ofcrypto protection to our customers. Through back-up key creation and securestorage, we can remove the anxiety many crypto holders feel about inadvertentlyand permanently losing access to their assets. And with the added benefit ofcomprehensive insurance and a deposit protection guarantee, GateHub users canbe certain that, whatever happens, they won’t lose out.”


David Janczewski, co-founder andCEO of Coincover, which has developed the safety standard for crypto, added, “Weare delighted to partner with GateHub to provide Coincover’s safety standard toits new Wallet Protect product. GateHub customers can now be even moreconfident that their cryptocurrency is safe and secure.


“This is an exciting period ofgrowth for GateHub, and through our partnership it’s one that’s built on asolid foundation of security, and which bears the mark that guarantees thesafety of its customers’ assets.”


For more information on GateHub,visit: https://gatehub.net/features/security