Update
Blink Wallet Adds Inactivity Fee to Custodial Accounts
Blink Wallet, a popular Bitcoin wallet, announced a $1 monthly inactivity fee for custodial accounts that have not logged in for over 12 months. The fee was implemented via a Terms of Service change and pushed to inactive users. Users will receive a refund if they log back in within 12 months. The fee aims to relieve the burden of inactive accounts on the startup, which have ongoing costs such as ledger and infrastructure, verification records, compliance monitoring, and support claims. The first fee charge generated about $45,000, mostly from accounts with dust amounts of Bitcoin inactive for over a year.