Bitstamp backtracks on its decision to charge inactive accounts a monthly fee
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Answer Bitstamp backtracks on its decision to charge inactive accounts a monthly fee
Luxembourg-based cryptocurrency exchange Bitstamp announced Wednesday that it will not go ahead with its plans to charge a monthly fee of €10 for an inactive account.
Bitstamp first revealed its planned fee for Blog It was published on July 1, saying:
From August 1, some customers will be charged an inactivity fee of €10 each month.
This fee would have been applied to users with balances less than €200 and had not made any trading transactions, or had a trade in the past year, except for clients residing in the United States.
Bitstamp acknowledged that some of its customers were concerned about the change in the initial blog post explaining the fees.Read:The Central Bank of South Africa wins the award for a payment system on the Ethereum network
But now, Bitstamp says it has scrapped its plans to charge an inactivity fee altogether, citing customer concerns after the announcement.
JB Graftieaux, CEO of Bitstamp, said in a press release:
We have taken everyone’s concerns into consideration and decided to eliminate the inactivity fee.
Listening to our customers is part of the DNA of our service.
Bitstamp’s goal has always been to be a safe and reliable trading platform that provides industry-leading services, and we do not intend to veer off course.
In the current bear market, many cryptocurrency exchanges are experiencing a drop in trading volumes across the market, which has led some to halt withdrawals and others to declare bankruptcy.Read:After the news of price gouging spread…the head of products for the “OpenSea” platform announces his resignation from his position
Bitstamp confirmed in its latest press release that its financial position remains strong and healthy.
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