Pieter Gorsira is hoping to take some of the confusion out of investing in cryptocurrency by giving people a way to invest seemingly trivial parts of their income into bitcoin quickly, easily, and often without even thinking about it.
Gorsira is the man behind a new startup called Lawnmower which is looking to help people save their ‘loose change' by investing in bitcoin.
A Little Off The Top
Lawnmower connects to a user's bank account and rounds each purchase up to a whole number and invests the extra cents in bitcoin.
For example, a purchase of $2.50 would result in Lawnmower taking the additional $0.50 and saving it. Once a user has at least $4.00 in savings, the app purchases a bitcoin.
Adding Up
The idea behind the app is to integrate saving and spending to make it easier for users to accumulate funds.
Not only does it promote saving, but it also allows people to expose themselves to bitcoin without making a huge commitment.
How It Works
The company requires users to set up a Coinbase account, as the bitcoins are bought using that exchange, and is able to link to multiple bank accounts.
At the moment, Lawnmower is only in beta testing, but the company is hoping to use the feedback from current users to launch a comprehensive product to the general public soon.
While bitcoin has had a difficult year, scaring many users away with its volatility, Lawnmower claims users' small investments over time help mitigate some of that risk.
A New Market
While bitcoin has typically seen the most usage among the tech-savvy crowd, Lawnmower is hoping to find a new audience for the cryptocurrency.
The company believes that much of the general public is interested in bitcoin, but don't have the technological know-how to get involved.
Lawnmower removes some of those barriers and allows people who wouldn't otherwise invest dip their toe into the cryptocurrency pool.
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