What Is Adelaide LETS?

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The Adelaide Local Exchange Trading System (Adelaide LETS) is a volunteer run community exchange system operating throughout Adelaide and beyond. Its membership base heavily serves the Northern and Eastern Adelaide Suburbs with a growing membership base in the Southern and Western Suburbs. We also have country members as far out as Lower Light, the Barossa Valley, Riverland & MurrayLands.

Adelaide LETS gives its members a network of people who are wanting to help people, without the need for conventional currency. In short, LETS is a way of simplifying barter.

In traditional barter, you must find 2 people who need what the other has and are happy that the items are of equal value. LETS expands upon this notion by allowing multifaceted trading.

1124471A very simple example of this might be:
Beth needs a hair cut and has some eggs from her chickens to trade for it.
Tom is after eggs but only has an excess of magazines to trade.
Tom can’t cut hair and Beth has no need for magazines.
This is where Jessica comes in & the ‘multifaceted trade’ takes place.
Jessica is collecting magazines for an inspiration board she is making, so she has a clear vision of her future once she finishes her Hair Dressing apprenticeship.
She ‘wants’ Toms magazines & ‘offers’ Beth a hair cut & all 3 are able to trade.
The best bit? Adelaide LETS is free to join!
 
 
Once you have joined, you will receive a CES (Community Exchange System) account number and password. This will give you access to your Adelaide LETS account. Then you, along with all of our other members, advertise your goods and services to trade – both the things you can offer and things you want. CES also allows you trade with other exchanges in South Australia, Australia and around the world!

With the Community Exchange System you can also view your balance of account and view the trading position of others before you enter into a transaction with them, in this way the system has full transparency.

In trading with Adelaide LETS you don’t need to save up for what you want before you begin to trade. An account in debit is merely a commitment to give back to the system at a later point in time – At all times your aim is a zero account balance – put into the system what you take from it.

In Adelaide LETS when we trade our currency is called the Unit.

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