New York City’s hottest exchange for low-cost gas and electric is launching this week, but not before one of its founders, a 23-year-old from Florida, went on a little shopping.
The exchange is a low-budget version of Craigslist, which lets anyone search for a rental and book it within minutes, but the Chicago-based exchange aims to be a far more efficient and cost-effective way of finding the perfect gas or electric bill.
The Chicago exchange’s founder, a young music producer named Sam, was looking for an apartment in Chicago and came across a low rent apartment for $700 per month.
After looking around and talking with people on the exchange’s Facebook group, he knew he’d found his perfect place.
After all, the average American’s monthly income is about $400 a month.
Sam, who’s also a producer for a Chicago-area band, knew he wanted to give the exchange a try, and quickly got his apartment booked.
The space in his apartment was furnished in a converted office, which was great for Sam’s new job, but Sam didn’t know how to put his new found freedom into practice.
“I had a couple ideas about what I wanted to do,” he said.
“My first thought was, let’s make it so people can just go to Lowes and pay a few bucks and get a quote and then we can do the exchange and just start getting quotes.”
So, the exchange started a few months ago, and now it’s working well.
“We are still working on getting people to actually use it, because it’s still a little bit rough right now,” Sam said.
The community has grown, but it still isn’t quite as big as it was.
The price of gas has dropped by half since Lowes launched, and Sam said the exchange has made about 20-30 new listings a day.
Now, he’s getting a lot of interest in the exchange from people who are just starting out.
“When we launched, we only had about 10 people on it,” he explained.
“It’s kind of taken off from there.”
Sam’s experience with Lowes has helped him understand the benefits of being a community, and he’s hopeful that the exchange will continue to grow over the coming months.
“If you’re looking to save money, or just don’t have a lot to spend, this is a great way to go,” he added.
Lowes is now accepting Bitcoin as a form of payment, so you can still exchange your Gas for Bitcoin, but if you’re new to the exchange, the process is pretty straightforward.
Just follow these steps: You have to register and log into the exchange in order to start looking for a place.
Once you register and login, you will be directed to the Lowes app and it will start sending you quotes, which you can then view.
You can then pay with a debit card, credit card, PayPal, Amazon gift card, or Bitcoin.
Once a listing has been placed, the seller will be able to show you how much you can expect to save.
Sam said Lowes was also working with a company called GoCash that is allowing people to use Bitcoin as payment, and it’s great to see people embracing Bitcoin.
“This is really a great time to start using Bitcoin because it is so cheap,” he continued.
“A lot of people are just going to get rid of their credit cards and just use Bitcoin.
“So you can just pay with Bitcoin, and you’ll get a quick, immediate quote, and then you can start getting bids and offers.” “
You can’t make a living in Bitcoin, so I think the best thing is to be accepting of Bitcoin and start accepting it as a payment option,” Sam added.
“So you can just pay with Bitcoin, and you’ll get a quick, immediate quote, and then you can start getting bids and offers.”
Lowes hopes to make the exchange more accessible to everyone in the coming years.
“There’s definitely a lot more people who have access to low-income people in the country now, and we really want to expand that and make it more accessible for everybody,” he noted.
Lowe has been accepting Bitcoin payments since the start of the year, and is now processing over 1,000 new listings per day.
“The people who want to use this as a way to save and use Bitcoin are really excited,” Sam noted.
“Lowes is definitely the first way for low income people to get an affordable place to rent.
This is the perfect platform to do it.”
You can check out the Chicago exchange in action in the video above.