Gatecoin Protects User Funds with Segregated Bank Accounts

Coinbuddy (OP)

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Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 05:55:20 AM

Gatecoin is a new, Hong Kong-based Bitcoin exchange that has finally launched after much anticipation.

This exchange provides a service that is common in non-crypto finance, but is currently unique in the Bitcoin world. Gatecoin will be using segregated bank accounts to protect its users’ funds. Segregated bank accounts separate user funds from money owned by the company; in the event of company insolvency, security breach, or any other situation where the company loses its money, user funds will remain safe in a separate bank account.

hilariousandco

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 07:21:38 AM

Yeah, always a good idea and gives the customer peace of mind. I think it's the law in the UK now that online bookies have to keep customers funds seperate incase of insolvency. Hopefully this will be applied to exchanges too.

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 10:03:11 AM

the name is bad! people will think its an alt Roll Eyes

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 03:43:50 PM

Quote from: LiteCoinGuy on February 02, 2015, 10:03:11 AM

the name is bad! people will think its an alt Roll Eyes

I agree. When I first saw the title, I thought it was about gascoin.

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 03:45:58 PM

Quote from: botany on February 02, 2015, 03:43:50 PM

Quote from: LiteCoinGuy on February 02, 2015, 10:03:11 AM

the name is bad! people will think its an alt Roll Eyes

I agree. When I first saw the title, I thought it was about gascoin.

Indeed I wanted to report the post, I though it was another post promoting yet another shitcoin.
Even though this is great, they should have picked a different name.

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 03:47:43 PM

Thought it was another altcoin but turns out to be the company name. And speaking of segregated bank accounts, just wondering how it would work. Does it mean our btc fund is actually backed by fiat with equivalent amount sitting in another account?

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 02, 2015, 04:09:07 PM

Quote from: LiteCoinGuy on February 02, 2015, 10:03:11 AM

the name is bad! people will think its an alt Roll Eyes

Indeed. I thought this was none other but Bill Gate's altcoin finally being released.

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Re: Gatecoin Protects User Funds with Segregated Bank Accounts

February 24, 2015, 07:15:28 AM

Quote from: pereira4 on February 02, 2015, 04:09:07 PM

Quote from: LiteCoinGuy on February 02, 2015, 10:03:11 AM

the name is bad! people will think its an alt Roll Eyes

Indeed. I thought this was none other but Bill Gate's altcoin finally being released.

Bitbill would sound better!

[yes I know, thread is a bit old but..bah..]

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Bitcoin Forum > Economy > Marketplace > Service Announcements > Gatecoin Protects User Funds with Segregated Bank Accounts

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