Comparison of Phemex vs Gatehub [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Gatehub

Main points

Fees

0,10%

Earns

Customer service

3/5

0,30%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.8 – Reasonable fees with strong focus on simplicity and security.

Level

0,10%

0,30%

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

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 .

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Gatehub

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.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

GateHub Limited

Regulation

Not regulated

Regulated in the Reino Unido

Year founded

2019

2014

Founder

Jack Tao

Enej Pungerčar

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Phemex	FEATURES	Gatehub
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	Minimum trade size is $10, making it accessible for small investors .
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Flat trading fee of 0.3%, slightly above the industry average. High withdrawal fees for BTC at 0.005 BTC .
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Supports 8 major cryptocurrencies including BTC, ETH, and XRP .
Extensive selection of trading pairs, allowing users to diversify their 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 essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	Transparent about fees and services, detailed fee page available .
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Users can deposit funds using credit and debit cards, although fees apply.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Supports secure storage with 70% of assets in cold storage, AES encryption, and 2FA .
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Limited staking options and reward programs compared to competitors .
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	User-friendly interface on mobile and desktop, but mobile app development still in progress .
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Offers live chat and email support, but response times can be slow .
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Multiple methods for deposit and withdrawal, but high withdrawal fees and no credit card support .

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Wallet services, fiat on/off ramps, staking, Gatehub trading platform

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

10+ (focus on XRP and similar assets)

User-friendliness

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

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

Countries of operation

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

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Ideal for traders seeking a secure platform with competitive fees and a focus on simplicity.

Base currencies available

USD, BTC, USDT

USD, EUR, BTC

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

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

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

GateHub provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

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?

Yes

Customer Service

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

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

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might 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

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

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.

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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.