Vault Service Fees

This article goes through the fees applicable to any GuardBlock vault with an active balance held within it.

What fees are charged?

Vault fees for GuardBlock are charged at 0.2% per annum of the amount of Bitcoin stored in the vault, averaged on a monthly basis.

This means once per year you are charged 0.2% of the average amount stored in the vault over the year, not based on your exact balance at a certain time.

Included in this fee is the ability to book Concierge Onboarding for you to get started, or if you need any additional hands-on support or want to dig into the details later on.

We may roll out additional features and services in the future which may result in additional charges. These charges will be clearly communicated before you opt-in, upgrade or are otherwise charged.

Separately to Vault Service Fees, there are bitcoin network transaction fees associated with sending or receiving into your vault. For incoming transactions (deposits), you will pay a network fee as described by your wallet or exchange. For outgoing transactions, the GuardBlock platform will show you the applicable network fee which will be deducted to pay for your transaction. For details, check out our support article about Network Fees.

How do I pay the fees?

At launch, vault service fees are paid in bitcoin. You will have the choice of paying directly using bitcoin held in your GuardBlock vault, or alternatively you can elect to pay via an external wallet.

Eventually we will launch a fiat payment facility for those who prefer it.

Why do you charge a fee to use GuardBlock?

Fees are levied so that we can cover the costs of server infrastructure, security, monitoring, policy enforcement, and customer support. It ensures that we have the resources to be on top of the evolving security and custodial landscape regarding Bitcoin, to ensure we bring you the best in security and future features.