Luxembourg-based cryptocurrency exchange Bitstamp on Wednesday axed plans to charge some clients an inactivity fee after responses from customers, according to a statement Wednesday.
“We have heard the response from our customers to the Inactivity Fee,” said CEO JB Graftieaux in the statement. “We have taken everyone’s concerns onboard and have decided to cancel.”
The company last Friday announced its plan to begin charging €10 per month for those accounts with a balance of less than €200 and which had not shown any activity in the previous 12 months. “Keeping inactive accounts on the books is a cost,” said Bitstamp at the time.
“Listening to our customers is part of our service DNA,” said the CEO today.
While acknowledging current headwinds across crypto markets, Bitstamp said customers shouldn’t be concerned about its financial position, noting “zero exposure” to any of the companies under stress.
