27 Apr '15, 2pm

Lawnmower Invests Users’ Spare Change to Purchase Bitcoin

the Boost VC -backed Bitcoin startup Lawnmowe r tracks purchases on a user’s account, rounds them up to the nearest dollar to create spare change, and uses the change to purchase bitcoin on behalf of the user. The bitcoin purchased by Lawnmower will be deposited to a Bitcoin wallet of a user’s choice. The minimum threshold for bitcoin deposit currently stands at $4, meaning that the accumulated spare change of the transactions must be at least $4 before bitcoins can be purchased by Lawnmower. For example, if a user buys a cup of coffee and a bagel at a local coffee shop worth $7.10, then 90 cents will be categorized as spare change and will be used to purchase bitcoin after the accumulated spare change passes the $4 threshold. Lawnmower CEO Pieter Gorsira explained that the metaphorical definition of Lawnmower as “working backwards. “It’s like we’re running the lawnmower o...

Full article: https://bitcoinmagazine.com/20168/lawnmower-invests-users...

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