North Coast Community Exchange is a Local Exchange Trading System (LETS) for the community living on the North Coast of Northern Ireland (members in Coleraine, Portrush, Ballycastle).
This is a marketplace where goods and services are exchanged The system is based on mutual credit: if you get something from someone, you commit to provide something for someone else in the network. When there’s a transaction between 2 people, there’s an acknowledgement that something’s happened, with a payment using the Waves community currency instead of cash. No Pounds or Euros are required.
There are no membership fees, administration costs are covered by a small transaction levy (4% in the Waves currency) that is added to all transactions. You don't need to have waves on your account to start trading/exchanging and you do not have to pay interest rates if your account has a negative balance (it just means you owe the community)