Spare Change-to-Bitcoin Service Lawnmower Aims for Main Street Investor Appeal
"There's a metaphor to it," CEO Pieter Gorsira explains, addressing his startup Lawnmower, and its, by bitcoin industry standards, unconventional name. If the name Lawnmower at first keeps users at a distance, however, the explanation does much to illuminate the novel concept the Boost VC startup is hoping will help it become a low-risk bitcoin investment solution. "Working backwards, it's like we're running the lawnmower over the grass and we're clipping off a little bit of change. So, as you go along, we slice all these little blades of grass and collect change from these transactions,"....
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The Boost VC-backed Bitcoin startup Lawnmower 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....
I was recently checking for interesting applications on my mobile's app store, that is when I came across this mobile app called Lawnmower. It is a simple application that allows you to invest your spare change on bitcoins. The app, Lawnmower is currently in beta stage and is available only on Apple app store. Three classmates - Alex Sunnarborg, Patrick Archambeau and Pieter Gorsira, have developed this application. These University of Florida students are backed by Boost VC. The Lawnmower application, in concept is similar to an application called Acrons. While Acrons allows its users to....
Name of product: Lawnmower. What it is: Bitcoin's take on the popular investment app Acorns, Lawnmower rounds traditional bank card purchases up to the nearest dollar and invests the change in bitcoin. Made by: Lawnmower.io. Who's behind it: Three University of Florida classmates Pieter Gorsira, Patrick Archambeau and Alex Sunnarborg and strategic backers Boost VC. Cost: Free. Date launched: 9th April. Basic summary: Lawnmower provides a painless way for users to start saving bitcoin in incremental amounts. CoinDesk rating: 3.5/5. The basics: Available as an iOS app and currently in....
The Bitcoin application Lawnmower has just recently changed its functionality removing the “spare change” feature that would deposit the rounded off change into digital currency savings kept within the user’s account. Unfortunately, people are complaining about the removal of this feature as it was advertised exactly for this purpose. Now the product....
In a recent video, young startup Lawnmower explained their recent pivot from “spare change” investing of bitcoin to becoming a more comprehensive research and trading hub for multiple blockchain assets. The founders also introduce the Lawnmower Blockchain Index (LBI). Lawnmower: From Spare Change to Big Time Blockchain Investment. One year ago, Lawnmower introduced its new mobile application to the public, along with its unique “spare change” functionality, allowing users to easily build up savings in the form of bitcoin. The functionality, along with its slick, modern design was heralded....