Cryptocurrency exchange Bitstamp, recently announced that it will charge €10 fees over inactive users to make up for the cost as the crypto market is weighing on trading value.
Those charges will be levied upon the accounts that haven’t been traded, deposited, withdrawn or staked assets for a year with a total balance of less than 200 euros, starting August 1st.
Few conditions to relinquish the charge is by buying or selling crypto worth 25 EUR/USD/GBP or depositing the same amount as fiat.
Customers with an account balance of more than €200 will also not be charged.
The last condition to avoid the inactive fee is to stake the assets in Bitstamp Earn.
However, the new charges will not be applicable to the US customer base.
This plan of action was evitable as the market downturn weighed on the trading volume of the industry.
Also read: Crypto Exchange Bitstamp Appoints JB Graftieaux as CEO
Crypto exchanges are looking for ways to dampen their dependability on trading revenue, which usually falls during prolonged market downturns.
The American crypto exchange giant, Coinbase Global, has also warned of lower trading volume in the second quarter.
