myCryptoWallet introduces zero-fee trading after bank scuffle
It's back, but myCryptoWallet is still in the dark about its account cancellation.
"We're certainly not the first exchange to have our account frozen," myCryptoWallet CEO Jaryd Koenigsmann said at the time. "We've seen it happen to many exchanges around the world. It’s also not the first time it's happened to us."
The incident has been resolved, myCryptoWallet says, although it's yet to receive an explanation for the account closures.
"We're still yet to receive an explanation from the National Australia Bank as to why the account was closed," Koenigsmann says. "We would have been more than happy to work with them to resolve the issue and any concerns they had that led to the closure. But, so far, we haven't had this opportunity. We're still in the dark about why it happened."
For reasons which may or may not be related, myCryptoWallet has also announced that it will be introducing zero-fee trading from Wednesday 6 February, applying to all cryptocurrencies available on the platform including bitcoin, Ether, XRP, Litecoin and Power Ledger.
"Some of the fees exchanges charge are through the roof, and are a big hit to trading profits. We're introducing zero fee trades to make the myCryptoWallet trading experience even better and more profitable for our customers," Koenigsmann said.
And for the rest of the year, there are plans to introduce more than 50 new cryptocurrencies to the platform in 2019.
"Our customers have been telling us they want more trading options and flexibility on our platform, and we’re excited to be adding dozens of new coins in the coming months. These will be handpicked by our team and carefully vetted prior to listing," Koenigsmann said.
Such a full roster of cryptocurrencies would give myCryptoWallet one of the wider selections in Australia. This might be especially timely since Cryptopia – the New Zealand-based king of variety among crypto exchanges – is currently indisposed.
Disclosure: At the time of writing, the author holds ETH.