BRANTFORD, June 24th, 2014 — Vault of Satoshi, Canada’s leading cryptocurrency exchange, announced June 20th that it is releasing the dividend-producing bitcoin investment, called Divcoin, today, June 24th. Instead of selling contracts that would otherwise bind users, Vault of Satoshi is representing mining contracts with a coin. Based out of their Brantford, Ontario headquarters, Vault of Satoshi will be mining bitcoins and paying out daily dividends to those who buy the coin. Vault of Satoshi is enabling the purchase of Divcoin starting June 20th, 2014 to both current clients and the public via their online site www.vaultofsatoshi.com.
Vault of Satoshi offers cloud-mining contracts to their clients, but dislikes the idea of binding contracts. “With Divcoins, we can offer the upside of joining a mining pool, without tying our clients to a fixed contract,” says Mike Curry, Co-Founder of Vault of Satoshi. “This enables users to buy and sell coins as they please, and enjoy daily payouts – dividends – with Divcoins.” Divcoins lets users save money and time that they would otherwise spend on their own mining equipment. It also allows users the flexibility to buy and sell coins as needed, as well as the convenience of purchasing the dividend-paying coin directly from their Vault of Satoshi account.
Divcoin is Vault of Satoshi’s first “coin” mining pool. Coins will be added as demand increases. The beta program, launching June 20th, will start with the issuance of 5,000 coins, sold at $5.00/coin. Divcoins can be purchased with Canadian and American dollars, as well as with bitcoin. Each coin represents 1gs/s of mining power. Each Divcoin mines bitcoin. Mike Curry expects a full return on investment per coin in as little as 6 months, but conservatively estimates the return within the first year. After the cost has been paid back, each coin will continue to pay out dividends as pure profit. Therefore, people buying Divcoin will profit the most in a buy-and-hold strategy. Of course, if users decide Divcoin is no longer of benefit to them, they can sell this coin to someone else, as it not a fixed contract.
Mike Curry, co-founder, expects Divcoin holders to earn an “approximate net average dividend (payout) of $0.02168 CAD paid out in bitcoin, daily, per 1 GH/s.” Divcoin’s dividend will decrease over time in parallel with the bitcoin difficulty.
About the Company:
Vault of Satoshi is Canada’s leading cryptocurrency exchange. Vault of Satoshi allows clients to safely and reliably trade fiat currencies (such as CAD, USD) for cryptocurrencies like Bitcoin and Litecoin with other members of the exchange.
For more information on how to buy Divcoin, please contact:
Vault of Satoshi
340 Henry Street, Unit #16, Brantford, Ontario, N3S 7V9
Disclaimer: I am consulting this month with Vault of Satoshi on marketing and PR and we are in talks of collaborating through Bitcoin Strategy Group for ongoing work in this area.
Victoria is a partner at Bitcoin Strategy Group, and a contributor to Bitcoin Magazine, CoinDesk and CoinTelegraph. Victoria helps Bitcoin businesses with community development and marketing.