Vault of Satoshi, the Canadian based exchange of Bitcoin, Litecoin, Peercoin and various fiat currencies, is dropping all of its trading and deposit fees starting today until Canada Day weekend on July 1st.
The promotion is a part of a big summer push by Vault of Satoshi to increase their market presence. Last month the exchange added a whole host of new features and became the first exchange to show proof-of-solvency after the Mt. Gox fiasco.
The fees are, for the most part, related to the aforementioned feature additions from last month. The 1 % fee on trading is gone, as is the 0.2 % fee on coin-to-coin trading, a US$7.50 fee on deposit via PAD/EFT has also been waived, as have the US$1.50 fee for their new Instant Interac deposits.
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 Interac network, which is supported by Canadian banks across the nation, to instantly buy Bitcoin, Litecoin and Peercoin on the Vault of Satoshi exchange. The given service along with automatic withdraws and deposits were added last month used to cost a fee. Now those charges along with several other fees are waived until Canada Day or July 1.
Vault of Satoshi is a relative newcomer to the Bitcoin exchange 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 is slowly expanding into U.S. markets, which Vault of Satoshi says will include rolling out similar features to US-based users.