Ripple Trade is about to close, causing dissatisfaction among Ripple users

Ripple recently announced on its official website that it will stop operating Ripple Trade before January 13, 2016, and reminded users to withdraw all remaining funds on the platform before that date. Of course, Ripple's new platform GateHub will take over the work of Ripple Trade. GateHub's goal is to build a trusted business around consumer and gateway use cases.

According to its website, over the past two years, Ripple Trade has greatly facilitated users' transactions of various assets, including fiat currencies, digital currencies and gold. Ripple Trade aims to become the most direct and economical platform for trading XPR.

In its announcement, the company said:

“Over the past two years, our company has gradually shifted its focus to building infrastructure for banks, and as a result, we will no longer be operating the Ripple Trade exchange business.”

Ripple's new platform GateHub supports wallets, analysis, APIs, payments and transactions for multiple assets. Supported assets include XRP, Bitcoin, US dollars, euros, gold and silver. The platform said that assets can be traded directly through the Ripple network.

Ripple was founded in 2012 to allow users to make instant cross-border payments through its network and gateways. Financial institutions can also integrate these gateways, and some financial institutions have already done so.

According to Ripple’s statement, the GateHub platform will provide gateways supported by identity and risk management tools.

Ripple has also set up an "optimal migration path" for users to transfer funds from Ripple Trade to GateHub. In addition, users can also perform manual transfers to transfer funds to external wallets.

Before January 13, U.S. users must transfer funds through the Ripple gateway or other wallet providers, otherwise they will be at their own risk. The deadline for fund transfers for users outside the United States has not yet been determined, but the time is longer than that for users in the United States.

GateHub Limited is a UK-based company established on 14 November 2014.

However, according to Bitcoinist, users of the Ripple section of Reddit were very unhappy with the news that Ripple Trade was about to be shut down, with one observer saying that Ripple was moving further and further away from a P2P market and slowly becoming a bank-to-bank company.

One netizen wrote: "I'm not an unreasonable person, but I always feel that Ripple's move is carefully planned. Do we have offline wallets? I mean, you told us that we have to transfer the funds before the beginning of 2016, otherwise we will lose the funds. Well, it doesn't matter. From this incident, we can see that Ripple is downgrading."

Of course, Ripple will continue to operate, but many people believe that Ripple has gone downhill, increasingly ignoring individual users and paying more and more attention to its bank customers.

Original article: http://bitcoinist.net/wait-ripple-centralized/
By Jamie Redman
Compiled by: printemps
Source (translation): Babbitt Information (http://www.8btc.com/ripple-trade-shut)