How ‘Nubeans’ Works

Nubeans is a community-based trading system. Nubeans is a sub-branch of the statewide CENTs (Community Exchange Network Tasmania).

Nubeans and CENTs are similar to other systems around the globe, commonly known as Community Exchanges or Local Exchange and Trading Systems (LETS).

When trading through Nubeans you owe nothing directly to the seller, you owe the community goods and services to the value of what you have bought. You ‘pay’ for your purchases by delivering goods and services to other registered traders in the system. That can be locally within Nubeans, Tasmania wide within CENTs or with other Community Exchanges in Australia or around the globe.

Every member has an online ‘trading account’ that gives you access to a directory of goods and services offered by other traders. All transactions are recorded through this online system and are reconciled immediately. The account balances of all traders are public information.

Nubeans trading allows you the opportunity to increase your disposable income, which is particularly useful for those marginalised in the conventional economy. Nubeans is also a support network that helps build a sense of community.

Terms Explained:

Nubeans: Tasman Peninsula Sub-Branch of the Tasmanian Wide CENTs

CENTs: Community Exchange Network Tasmania which includes all traders in Tasmania.

cents: The currency which members trade with.