GateHub launches Wallet Protect to cover up to $100K for XRP ledger wallets

The launch of Wallet Protect demonstrates GateHub’s commitment to protecting its customers’ cryptocurrency assets from loss and theft...

GateHub, the multicurrency wallet provider, has today launched Wallet Protect, a new service for XRP ledger wallets that provides back-up key creation, secure key storage, fund recovery, and theft cover. These new safety features, which are provided by Coincover, offer peace of mind for anyone looking 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 send and receive payments from any supported network and across a range of fiat, cryptocurrency, and commodity assets.

New capabilities include:

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

GateHub’s Wallet Protect offers theft cover at two levels: tier one at up to $10,000, and tier two at up to $100,000. All customers are offered a discounted rate of $27 per year for tier one, and $216 per year for tier two until January 31, 2021. Usually, these cost $36 and $288 a year, respectively.

“We are delighted to partner with GateHub to provide Coincover’s safety standard to its new Wallet Protect product. GateHub customers can now be even more confident that their cryptocurrency is safe and secure. This is an exciting period of growth for GateHub, and through our partnership it’s one that’s built on a solid foundation of security, and which bears the mark that guarantees the safety of its customers’ assets.”
– David Janczewski, co-founder and CEO of Coincover