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Top 4 Marijuana Cryptocurrencies

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INFORMATION

Why Do Weed and Cryptocurrency Work Well Together?

BUY MARIJUANA WITH BITCOIN CAN YOU BUY MARIJUANA WITH BITCOINS OR JUST CASH PURCHASE QUALITY WEED WITH CRYPTOCURRENCIES ONLINE….. The fight to legalize pot is gaining ground. As of June 2021, medical marijuana is legal in 36 states and D.C., while 18 states and D.C. have legalized recreational usage.1 These numbers are expected to grow as more states explore ways to decriminalize the plant. Keep in mind, though, that marijuana is still illegal at the federal level—though there are two bills legalizing it in the House of Representatives—which makes it complicated for anyone conducting financial transactions even in states where pot is legal.2 BUY MARIJUANA WITH BITCOIN CAN YOU BUY MARIJUANA WITH BITCOINS OR JUST CASH PURCHASE QUALITY WEED WITH CRYPTOCURRENCIES ONLINE…..

Businesses and operators selling and/or distributing recreational and medical pot are still barred from using banks for their transactions because of federal legislation. The development and use of marijuana-specific virtual currencies have ramped up in order to fill the hole in this market.

Cryptocurrencies make it easy for people in the marijuana industry—or simply those who want to buy some weed—to carry out transactions. While Bitcoin has become widely popular in the virtual currency space, there are a few alternative cryptocurrencies catering specifically to the pot sector. Read on to find out more about the top five cryptocurrencies on the market. BUY MARIJUANA WITH BITCOIN CAN YOU BUY MARIJUANA WITH BITCOINS OR JUST CASH PURCHASE QUALITY WEED WITH CRYPTOCURRENCIES ONLINE…..

PotCoin (POT)

Launched in January 2014, PotCoin was one of the earliest cryptocurrencies for the marijuana industry.3 It was designed to solve banking problems for people looking to transact in legal marijuana. Trading of PotCoin takes place directly between people without using a bank or clearinghouse. Its creators wanted to capitalize on Colorado’s legalization of marijuana and even installed a PotCoin automated teller machine (ATM) at a marijuana dispensary in Colorado.4

CannabisCoin (CANN)

CannabisCoin was also developed in 2014, just a few months after PotCoin. It is a proof-of-work, peer-to-peer open-source currency and, like Potcoin, was aimed at easing transactions for medical marijuana dispensaries. While it initially gained popularity, it has failed to deliver for investors.1011

So how does it work? CannabisCoin promises to convert cryptocurrency directly into marijuana. Under the name CANNdy, there is a line of medicines and marijuana strains grown for the specific purpose of exchange at the rate of 1 CannabisCoin to 1 gram of medication.

DopeCoin (DOPE)

DopeCoin was founded by Adam Howell—also known as Dopey—in January 2014.12 Little is known about the specific markets the currency serves except that its “mission is to provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century.”13

According to its website, DopeCoin users can transact pseudo-anonymously in under a minute, and don’t pay any fees or transaction costs.13

Started with a vision of creating a Silk Road for transactions in marijuana across the world, DopeCoin supply is limited with about 117 million in circulation. It is also a proof-of-stake currency, giving investors a chance to earn 5% in annual interest. The currency has a market cap of $323,951 as of August 2021, according to CoinMarketCa

HempCoin (THC)

HempCoin also came into existence in 2014, although its focus is less on individuals using it to buy weed. Instead, this cryptocurrency was designed for use by the farming industry and medical and recreational dispensaries. HempCoin’s website claims its goal is to “help facilitate secure transactional relationships between farmers, distributors, and consumers.”16

It’s interesting to note that HempCoin is used in all areas of agriculture, not just ones involving weed.16 As of August 2021, the price for one HempCoin was $0.0102, and its market cap was nearly $2.68 million.17

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