Gate.io, one of the most renowned Asian exchanges, has now opened deposits and withdrawals for eCash. Users of the exchange can now move their eCash to and from exchange wallets freely. Gate.io was one of the first exchanges to complete the rebrand to eCash (XEC), and they now are leading in the wallet habilitation for transactions.. While deposits must wait for 50 confirmations before being credited, withdrawals are processed fairly quickly.
Reports suggest that the deposit addresses used by Gate are the old bitcoin legacy format (where wallet addresses start with the number 1). It is as yet unclear if the new eCash: prefixed address format is already supported for deposits or withdrawals. This may affect customers using the exchange when depositing or withdrawing as wallets and other services may have switched to the newer eCash specific address format.
When this happens people can make use of the address converter provided on the e.Cash website. Here people can enter an address and reliably convert it into the other possible formats and overcome any possible address format incompatibilities between exchanges and/or wallets.
Gate.io already accounts for more than 21.52% of the volume of eCash traded in the whole market just in the XEC/USDT pair. The exchange is rated with a trust score of 9 out of 10, according to data taken from Coingecko, a cryptocurrency and stats aggregator. However, this volume only refers to exchanges that have already applied the redenomination, ignoring Binance and other exchanges.