Feature Update: Best Market Price
Crypto Vault will be linking our software to multiple exchanges to provide our users with the best possible price when buying and selling their virtual currency.
Many wallet systems are linked to their own exchange (for example coinbase is linked to GDAX). Our service will not be an exchange where we match buyers and sellers. Instead users will buy or sell directly to us.
Our software will at the same time scan the exchanges that we support and replace the bought/sold currency - thus allowing users to get the best price.
Example:
Let's say you wanted to buy 1 bitcoin from Crypto Vault. At the time of writing this post, the market price on BTCC is $3,981.99 and bitstamp is $3,921.39. We would then offer the user to buy 1 bitcoin at the $3,921.39 price point (assuming the orderbook on bitstamp can sustain a full 1btc order). The user would be informed of their transaction fee (which covers our cost and provides our company's profit) and accept the purchase.
When the purchase is accepted it will trigger our software to buy 1 btc on bitstamp so we can replenish our storage of Bitcoin.
Any exchange fees for placing market orders, thin order books (if only 0.5btc was available at $3,921.39 and then another 0.5 was available at $3921.40), etc. will be incorporated into our transaction fees.