Vault of Satoshi, the Canadian based exchange ofBitcoin, Litecoin, Peercoin and various fiat currencies, is dropping all of itstrading and deposit fees starting today until Canada Day weekend on July 1st.
The promotion is a part of a big summer push by Vault ofSatoshi to increase their market presence. Last month the exchange added awhole host of new features and became the first exchangeto show proof-of-solvency after the Mt. Gox fiasco.
The fees are, for the most part, related to the aforementionedfeature additions from last month. The 1 % fee on trading is gone, as is the0.2 % fee on coin-to-coin trading, a US$7.50 fee on deposit via PAD/EFT hasalso been waived, as have the US$1.50 fee for their new Instant Interacdeposits.
What this means in layman's terms is this: For the past month,Vault of Satoshi customers have been able to take advantage of the Interacnetwork, which is supported by Canadian banks across the nation, to instantlybuy Bitcoin, Litecoin and Peercoin on the Vault of Satoshi exchange. The givenservice along with automatic withdraws and deposits were added last month usedto cost a fee. Now those charges along with several other fees are waived untilCanada Day or July 1.
Vault of Satoshi is a relative newcomer to the Bitcoinexchange scene, and most of its features are limited to Canadian customers.However, it has had a string of positive developments in the past year and isslowly expanding into U.S. markets, which Vault of Satoshi says will includerolling out similar features to US-based users.