Email from CEX.IO good for a laugh

[btcxyzzz]

CEX.io reputation goes nosediving because of this.

[Spoetnik]

WOW classy operation they got going on over there. 

[CEX]

Hey all!

As you know, GHash.IO pool has been closed, and NMC and DOGE coins are no more traded on CEX.IO. Therefore, CEX.IO exchange will stop supporting wallets for these currencies in the nearest time. Considering this, we have sent out an email to users having DOGE and NMC coins on their CEX.IO balances, informing them about the upcoming storage fee for respective wallets.

We understand that fees are restrictive, and they are meant to be so, for holders of not supported balances to withdraw their funds. We have read about storage costs calculations here, but you have to consider also, that in addition to storage every coin wallet has to have a running process, and a separate server to run on, in addition to some other expenses that are needed to support coins that we do not mine or trade any longer, and those are costs that we are trying to avoid and put into development of trading features long awaited on our high-volume markets.

We have added Margin Trading to our largest trading pairs, that allows you to enter the market and earn with smaller amounts of your own cash. We have lots of new features planned for the future and we simply wish to concentrate on core features of our platform.

[juras54]

CEX.IO traded there like normal

[bbc.reporter]

My suggestion would be to talk all your coins out of that exchange. When they start to collect storage fees that is a sign that they might be in desperate need of money to maintain their operation. The exchange might close next year if their active users do not start to increase.

Running a bitcoin exchange is a very competitive business.

[Zadicar]

My suggestion would be to talk all your coins out of that exchange. When they start to collect storage fees that is a sign that they might be in desperate need of money to maintain their operation. The exchange might close next year if their active users do not start to increase.

Running a bitcoin exchange is a very competitive business.

Your assumptions might be possible that on nextyear cex.io will shutdown if no more users will use their platform and also that message of cex is somehow a bad move because they give attention for its users the indication of need of money but its actually a good move in the way that they notify its users that they should withdraw their coins particularly on DOGe and other to avoid such losses.Well atleast they are honest.

[Snorek]

Hey all!

As you know, GHash.IO pool has been closed, and NMC and DOGE coins are no more traded on CEX.IO. Therefore, CEX.IO exchange will stop supporting wallets for these currencies in the nearest time. Considering this, we have sent out an email to users having DOGE and NMC coins on their CEX.IO balances, informing them about the upcoming storage fee for respective wallets.

We understand that fees are restrictive, and they are meant to be so, for holders of not supported balances to withdraw their funds. We have read about storage costs calculations here, but you have to consider also, that in addition to storage every coin wallet has to have a running process, and a separate server to run on, in addition to some other expenses that are needed to support coins that we do not mine or trade any longer, and those are costs that we are trying to avoid and put into development of trading features long awaited on our high-volume markets.

We have added Margin Trading to our largest trading pairs, that allows you to enter the market and earn with smaller amounts of your own cash. We have lots of new features planned for the future and we simply wish to concentrate on core features of our platform.

Good to heard official statement from CEX here. I understand what you are trying to do here, but this is not the way.
Do you seriously think that taxing coins is the best idea so people would withdraw DOGE and NMC?
This move will only undermine your trust - if you can do this with some coins now, you will probably do it with another one in the future.

[nocryinginbtc]

CEX.IO is a reputable exchange. 1. It has never been hacked. 2. It is involved in other vertical markets within the community.

Its not like they are not giving everybody time to make a withdrawal. That could be done in 1 day. They obviously were making a profit on those coins. Its their perogative. Stop whining.

[Ryan Dugan]

Important! DOGE and NMC wallets

Please be informed that storage fee will be applied for all DOGE and NMC wallets, as of December, 7th. This fee will be used for running the support of these wallets and will be charged in amount of 25,000 DOGE and 25 NMC per day respectively.

We recommend withdrawing your DOGE and NMC funds from CEX.IO before that date, to avoid losses.

Based on above and current prices:

25000/day * $0.000216 = $5.30/day for DOGE

25/day * $0.200801   = $5.02/day for NMC

Why not say we no longer want to support these two coins. It is the intention of CEX.IO to confiscate all funds unless you remove them immediately to avoid losses. Even my bank is more friendly.

Lol ? What !? No matter how many times I read that I can't believe thst is an actual email. What did they think while they were writing this ? Clearly they were not thinking at all.

Please withdraw your coins from our exchange or we will steal them from you using a made up excuse. Lol priceless. xP

[CEX]

Hey all!

In fact, we really do want our users to withdraw DOGE and NMC, that are no longer traded on our platform. Costs are restrictive for two reasons. Firstly, to persuade users to actually do so and avoid losses. Secondly there is cost to us, as each of the coins requires several server instances to run properly (at least two, or more depending on the number of coins our users have on exchange). Those servers are expensive and the alt-coins were traded in volumes close to zero, so it is not worth for us to keep them running.

We have warned all our users with those coins on balances multiple times in advance before canceling the trading pairs and enacting storage costs, and we made sure more than 90% of users have actually withdrawn their coins before we put up the storage fee. All in all, it was an effective measure.

We are not going anywhere, as some have suggested in this thread. We are focusing on major markets such as BTC, and we will make sure to add more features to BTC pairs to give you better trading instruments.

Cheers!