Bitstamp Walks Back on Plans to Charge Users A Monthly Inactivity Fee
2022.07.07 20:56
Bitstamp Walks Back on Plans to Charge Users A Monthly Inactivity Fee
- Last week, Luxembourg-based Bitstamp announced a 10 euro inactivity fee in effect since August 1
- Counterblast on social media made the platform refrain from putting the inactivity fee in action
- A month ago, Bitstamp listed Shiba Inu (SHIB) after continual requests by SHIB Army
There’s a thin line between greed and fear in these volatile crypto market conditions, as proven today by Bitstamp, one of the biggest crypto exchanges in Europe. Just last week the crypto platform disclosed plans to charge a 10 euro fee for their non-us customers who haven’t been active for the past 12 months.
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
Despite trying to rub it in on their blog, Bitstamp received immense backlash from their users on social media, with people pouring out their anger on Twitter (NYSE:TWTR) and saying all this would do is just encourage Bitstamp’s customers to move their crypto holdings somewhere else. Some of the dissatisfied users would go as far as deleting their account.
I’ll never ever use @Bitstamp again in my life.Inactivity fee is the lamest thing I have ever seen.Deleting my account now.
— NeoTokyoUnicorn (@UnicornTokyo) July 2, 2022
The inactivity fee would have drained the inactive Bitstamp accounts 10 euros a month, provided it’s less than 200 euros on the balance. Despite taking the u-turn on a decision that many crypto enthusiasts see as a mistake, Bitstamp still has to sail through the hardships of crypto winter. This is evident by trading volume stats, as the company generated twice as less in the period of last 60 days than before.
Bitstamp Recently Included Shiba Inu (SHIB)
In spite of the stone throwing on social media, Bitstamp’s ‘you spoke, we listened’ catchphrase on the recent blog post does make sense. Exactly a month ago, the Luxembourg-based crypto exchange has enlisted Shiba Inu (SHIB) on their platform, opening doors for probably the widest community in the current crypto world.
At press time, Shiba Inu (SHIB) is trading at $0.00001055, which is 2% more than 24 hours. Moreover, the recent price marks a fortnightly bullish trend for SHIB, as the popular dog-themed meme coin gained 8.9% in the last two weeks.
Ever since Shiba Inu (SHIB) deleted a zero, the meme coin received a lot of praise on social media. Shytoshi Kusama, the lead developer, just recently announced major upgrades, including a new exclusive SHIB Ecosystem token $TREAT.
#Shibarium. #Shi. #Treat. #Shib #Metaverse. How we work together to weather the incoming storm & more in my new Medium. #SHIBARMY https://t.co/RAYdaij21q
— Shytoshi Kusama (@ShytoshiKusama) July 6, 2022
Why You Should Care
Due to crypto winter, many crypto exchanges around the world are making adjustments to their terms & conditions as well as laying off staff. For traders, now it’s an extremely important time to keep track of changes around the platforms.
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