Bitstamp is to simplify its fee schedule next month, a move that will reduce costs for the "vast majority" of clients, according to the company.

The Slovenia-based bitcoin exchange said that the revised charges will go live on 2nd March.

The new fee system, which groups market participants according to the amount of dollars traded over a 30-day period, has significantly lowered the transaction fees charged by the exchange.

The current fee structure states that a buyer or seller trading less than $500 would be subject to a 0.50% fee.  However, the revised proposal will mean that traders spending less than $20,000 will incur a 0.25% charge.

A spokesperson for Bitstamp has confirmed that the fee rounding policy will remain unaltered.