For some inactive account holders, the Bitstamp cryptocurrency exchange has decided not to introduce a monthly fee from August 1st.
📣 We are not implementing the monthly €10 inactivity fee.
Thank you for speaking out, you have been heard.
And we’ve changed course as a result.
Read more 👇 https://t.co/SqXmYyaeSY
— Bitstamp (@Bitstamp) July 6, 2022
Prior to this, the platform team reported that starts charging €10 per month from clients who did not trade during the year, did not deposit or withdraw assets. The amount on their balance must be less than €200.
This message from Bitstamp caused a wave of criticism from the community. Some Twitter users called the move disappointing.
This is so disappointing BitStamp
-It’s actually pathetic.
You’re charging the lowest holders approx 5% of their account balance so they are “forced” to trade or stake with you!!??
How is this even legal 🤯
https://t.co/DeBicjMIF3— Crypto Bitlord (@crypto_bitlord7) Jul 3, 2022
Some users commented on the company’s desire as “desperate times call for desperate measures.” One of the representatives of the community wrote that for the first time he was faced with “payment for inactivity.”
#bitstamp used to be one of the best exchanges between 2011-2017.
This is the first time I have seen such an “inactivity fee” on accounts.
Desperate times call for desperate measures. @bitstamp
Bitstamp lost the exchange race once its founders cashed out in 2018.
💩💩💩 pic.twitter.com/f16E02WIPq
— Duo Nine | YCC (@DU09BTC) Jul 1, 2022
For their part, Bitstamp said that they did not intend to deviate from the goal of being a safe and reliable platform.
“Thank you for your opinion, we heard you. As a result, we changed course. […] Customers can continue to use all services regardless of the balance and the time elapsed since the previous activity.
Prior to this, in April 2022, Bitstamp asked customers information about the origin of their crypto assets. Users who did not confirm the origin of the funds and were located in the EU received a refusal to withdraw assets.
