Bitstamp exchange starts charging for inactive accounts

Notice to Bitstamp Users: If you haven’t used your account for a year, you may be charged an inactivity fee. What do you use and how do you avoid it?


Inactive Bitstamp accounts will be charged

The drop in cryptocurrency prices has had a huge impact on trading platforms, which have seen a drop in trading volumes over the past few months. Some companies choose to lay off, others to add fees for certain services. But Luxembourg’s Bitstamp probably goes a little further than the others. You have already announced that inactive accounts Fee must now be paid.

People who have not actively used their account for a year will be required to pay ten euros, if the assets they own The value does not exceed 200 EUR. The effective date is set next August 1, and the period being taken into account includes the last twelve months.

In a press release published over the weekend, Bitstamp clumsily attempted to reassure its community, which it had previously warned by email. The platform states:

Nobody likes cartoons (and neither do we!), but Keeping inactive accounts in our records has a costIn order to continue to provide quality services to all of our clients, we have made the difficult decision to implement inactivity fees. ยป

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How do I avoid inactivity fees?

For customers, so there Three ways to avoid fees :

  • Buy at least 25 EUR/USD/GBP cryptocurrency
  • Make a minimum deposit or withdrawal of the same amount
  • Pool your assets with Bitstamp Earn

However, there is no doubt that customers will not appreciate the maneuvering of the trading platform. This, too, has a risk: it may encourage its users to move their cryptocurrency elsewhere. However, the โ‚ฌ200 cap shows that Inactive ‘small’ accounts are specifically targeted.

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Platforms Facing a Bear Market

Bitstamp is not alone in having to make some adjustments in this bear market period. We informed you yesterday that Crypto.com now applies a fee for credit card deposits for customers located in Europe. We also attended layoff waves in the industry in recent weeks.

So mistrust prevails, and FUD has spread. The CEO of KuCoin had to come out of his reserve this week to make it clear that his company was not insolvent. we So in the “cleansing” phase that historically accompanies bear markets. The companies that will still be around in a few years will have proven stable.

๐Ÿ‘‰ On the same topic – In great difficulty, the loan platform Vauld can be purchased by Nexo

Source: Bitstamp

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