. So. Crypto.com is a popular crypto exchange which was launched in June 2016. Up until recently, the platform has been doing really well. However, they had to pause withdrawals because of poor market conditions. But now that Crypto.com has resumed the options, customers are complaining that they are charging 50% fees for fund withdrawals or crypto transfers. Most crypto bookmakers do not charge either for depositing or withdrawing. You can find the best crypto bookmakers as listed by bookmakers.bet
Twitter is filled with customer complaints
Users are quite out of the blue about what is happening with crypto.com. Even I haven’t seen a major crypto exchange so out of liquidity that they are charging up to 50% withdrawal or transfer fees. One user tweeted that his token is being shown as worth 231 euros, but when he goes to sell them, it only shows 138 Euros. This is not an one odd scenario with a single token. There are multiple users pointing out this issue on the social media platform.
Another crypto.com user, Yogi, pointed out that the exchange was charging him 38% in selling fees. This was when he checked how much he would get when he sold one of the coins he had invested in. Users are even confused about whether this is a technical glitch because a 50% selling or withdrawal fee is unheard of.
Are you having some technical problems @cryptocom? I tried to withdraw some $ALI and i remained utterly shocked to see 50% withdrawal fees. Is this some technical glitch? #crofam #Cryptocom
— Trading Buzz (@buzz_ingg) February 7, 2023
Is crypto.com going under the bus?
First, the crypto exchange paused crypto withdrawals, and now they are charging such high fees for transfers or withdrawals. So, it is clear that something is wrong with the platform. Are they out of funds or short on liquidity? It is quite plausible. In fact, if that is the case, users might soon start to notice, and the withdrawal rate is expected to increase.
If that happens, crypto.com is most likely going under the bus, just like many other crypto exchanges. We might soon see a bankruptcy filing from them.
However, since we haven’t heard from the company’s CEO on these user complaints, it is also possible that this is a technical glitch. So, users who have faced the issue might be compensated accordingly. This will be a much better scenario as the collapse of crypto.com will be another major blow to the crypto industry.
What are your thoughts as customers complain that Crypto.com is charging 50% fees for fund withdrawals? And do you think this is due to liquidity issues or a technical glitch? Let us know in the comments below. And, if you found our content informative, do share it with our family and friends.
Also Read: UK launches Britcoin, its new Central Bank Digital Currency.
