Bithumb Withdraws Planned 4% KRW Deposit Fee Increase, Maintains Current 2.2% Fee
Bithumb, a leading virtual asset platform, has announced the withdrawal of its proposed 4% annual increase in deposit usage fees. This decision follows additional review items discovered while complying with the Virtual Asset User Protection Act.
Consequently, the deposit usage fee will remain at the current rate of 2.2% per year.
Bithumb has apologized for any confusion caused and assured users that any future changes will be communicated promptly.
Bithumb, the leading virtual asset platform, announced that its deposit usage fees will remain at the previous rate of 2.2% per year.
Initially, Bithumb planned to implement the 4% annual usage fee starting from July 24th.
This fee included an additional 2% paid by Bithumb on top of the 2% annual interest managed by its affiliated bank, NH Nonghyup Bank.
This proposed fee was double the 2% per annum initially announced on the 19th and represented a 1.8% increase from the revised recent announcement of a 2.2% fee per annum.
Despite the rollback, Bithumb reiterated that the fee increase was intended to align with its policy of providing customers with maximum benefits.
The CEO of Bithumb, Lee Jae-won, stated that the increase in the KRW deposit fee was not a response to competition with other exchanges but a move to enhance customer-centered benefits.
He pledged, “As this is a promise we made to our customers, we will do our best to faithfully fulfill it as much as possible.”
The increased won deposit usage fee rate was set to be applied from July 24th, with accruals being made at the existing 2.2% per annum rate until July 23rd.
The deposit calculation standard remains unchanged, based on the won balance as of 23:59:59 every day.
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