Cryptocurrency exchange Bitstamp has decided not to impose a monthly fee for some inactive account holders from August 1.

📣 We do not apply the 10 € monthly inactivity fee.

Thanks for talking, you were listened.

And as a result we changed course.

Read more 👇 https://t.co/SqXmYyaeSY

— Bitstamp (@Bitstamp) 6 July 2022

Earlier, representatives of the platform warned that they will start receiving €10 per month from customers who have not traded, deposited or withdrawn their assets throughout the year. The amount in their balance must be less than 200€.

Bitstamp’s decision caused a wave of criticism in the community. Some Twitter users described the move as a disappointment.

This is very disappointing BitStamp

-It’s actually pathetic.

You get about 5% of their account balance from the lowest holders so they are “forced” to trade or bet with you!!??

How is this even legal 🤯
https://t.co/DeBicjMIF3

— Crypto Bitlord (@crypto_bitlord7) Jul 3, 2022

Others noted that “desperate times call for desperate measures.” According to one of the representatives of the community, this is the first time he encounters “pay for inaction.”

#bit stamp It was one of the top exchanges between 2011-2017.

This is the first time I’ve seen such an “inactivity fee” on accounts.

Desperate times call for desperate measures. @bitstamp

Bitstamp lost the exchange race after its founders cashed in in 2018.

💩💩💩 pic.twitter.com/f16E02WIPq

— Double Nine | YCC (@DU09BTC) Jul 1, 2022

Bitstamp representatives noted that the company does not intend to deviate from its goal of being a safe and reliable platform.

“Thanks for talking, we heard you. As a result, we changed course. […] Customers can continue to use all services regardless of the time and balance since the previous activity.

Recall that in April, Bitstamp asked customers for information about the source of their crypto assets. Users reported that the exchange closed withdrawals for EU customers who did not verify the source of the deposit.

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