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Crypto Exchange No Longer Plans to Have Inactivity Fee
Summary: Crypto exchange Bitstamp previously announced they would be charging inactive accounts 10 euros per month, but today announced they will be altering the criteria affected by the fee. Bitstamp received substantial criticism from users, who were not looking forward to being penalized for HODLing, and never trading. This seems to have altered their decision The ...
Crypto exchange Bitstamp previously announced they would be charging inactive accounts 10 euros per month, but today announced they will be altering the criteria affected by the fee. Bitstamp received substantial criticism from users, who were not looking forward to being penalized for HODLing, and never trading. This seems to have altered their decision
The exchange still will have a fee, but only for accounts with less than 200 euros and no activity in the last 12 months. This is great news for Bears on the platform that don't plan on selling anytime soon.
The Blog post from Bitstamp said there are three other ways to avoid the updated fee. You can buy or sell $25 or more of crypto, deposit or withdraw $25 or more of fiat, or stake your assets in Bitstamp earn.
CEO JB Graftieaux, Bitstamp CEO, said in a statement, "We have heard the response from our customers to the inactivity fee," "We have taken everyone's concerns on board and have decided to cancel."
Craftieaux then said, "Listening to our customers is part of our service DNA."
Bitstamp clarified that these new fees were not in response to the recent bear market and has "zero exposure" to the current companies imploding in recent headlines.
The Blog post concluded, "The majority of Bitstamp's customers are not affected by the Inactivity Fee. Nobody loves fees (we don't either!) but keeping inactive accounts on the books is a cost, and in order for us to continue providing great services to all our customers, we made the hard decision to implement the Inactivity Fee."
Author: Garrett Meifert
