Investing in Cryptocurrency is continually increasing and changing from a hacker based novelty to mainstream practice. Cryptocurrencies like the Cannacoin and bitcoins have gained ground as mediums of exchange and are revolutionizing how businesses are conducted across the globe.
Over the years the cannabis industry has been hindered by the unwillingness of financial institutions to finance the marijuana business however with the wake of new cryptocurrencies, it could be a turning point for this business potentially allowing it to reach its peak financial level. There are quite a number of crypto coins specifically designed to help business people who are intending to invest in the cannabis industry. While bitcoin has widely dominated the cryptocurrency market here are top 5 Cannabis Based Cryptocurrency as of February 2018.
1. PotCoin (POT)
First launched in the year 2014, PotCoin (POT) has been the leading crypto coin having over 420 million coins circulating in the markets today. It enjoyed a relatively low profile following its launch that year however things changed after the Eccentric Dennis Rodman was pictured wearing a t-shirt with a Potcoin label in a North Korean airport.
As of 4th Jan 2018, Potcoin market cap was valued at $79.5million a single coin going at 0.362USD. Although much is not expected in the coming year's innovations and legal reforms in the marijuana industry are going to see this crypto coin establish itself as the number one cannabis coin.
2. CannabisCoin (CANN)
CannabisCoin was just launched a few months after the launching of the PotCoin (POT). Just like its predecessor, it was aimed at easing marijuana transaction. As of Jan. this year there were over 22.8 million USD cryptocurrencies in circulation with a single coin going at $0.002.
3. Paragon Coin (PRG)
This is the newest and most arguably interesting cryptocurrency of 2018; the currency boosts 100million coins in circulation with each coin going at the cost of 0.778USD. As of Jan. this year it was valued at $50.5 million. The cryptocurrency just like the rest aims at supporting cannabis businesspeople and pushing the legalization of the cannabis business.
4. DopeCoin (DOPE)
This is yet another top crypto coin aimed at providing reliable payment solutions to marijuana
merchants. They aim at providing an alternative means of doing business to marijuana enthusiasts. It is limited to a supply of 200 million and about 117 million coins in circulation. The currency is valued at $ 23million.
5. HempCoin (THC)
HempCoin (THC) has also been in business since 2014, but unlike its peers that focus on the buying and selling of marijuana, it focuses its use on the farming industry, the recreational and medical dispensaries. As of Jan. this year the currency was valued at 122.8 million USD with a single coin going at $0.53. Experts have it that this the HempCoin (THC) is going to lead in the marijuana cryptocurrencies given its objective the relative benefits it gets from legalization of cannabis.
What value do they add at the end of the day and Why would no one use a marijuana coin when you can use monero? Does the job: untraceable, cheap transactions and quick.
Exactly what I was thinking, unless they can get a big percentage of dispenceries and commercial growers onboard with something unique that sets the coin apart from more established coins I can't see any of them taking off.
This post has received gratitude of 5.84 % from @appreciator thanks to: @macbaren.
I love Dopecoin!
Nice! If I get some money here, I'll certainly invest in some of it!
Ive been interested in buying one of these coins but i am not sure which one, i am mainly thinking about Hempcoin or Potcoin but im not sure yet. Thanks for the simple but informative post btw!
Thank you macbaren for making a transfer to me for an upvote of 2.50% on this post!
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Even I will go for potcoin and hempcoin.
They sound promising.
But I will do some more research about it.
Thanks for the information :)
Paragon Coin (PRG)... sounds Like RPG : )
i have a fair bit of knowledge about cryptocurrency but must admit have never heard of these coins ....thnks fr sharing
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Yes! Cannabis and Crypto the perfect combination, these coins hold a bright future!
Thanks for this. However, would like to point out Hemp and marijuana are two different things.
Marijuana makes the headlines with people getting high. While Medical Marijuana gains acceptance there are relatively low states with recreational marijuana. And an uphill climb for National Legalisation.
In contrast, Hemp makes over 25,000 products. I'm invested in Hemp, Inc. and they serve the oil industry. The 2014 Farm Bill makes it legal Federally in the 45 states where it's already legal. H.R. 3530 enjoys support from both political parties and should pass in 2018.
Just when I'm starting to feel like I understand cryptocurrency, I stumble upon more to research. The information is endless, thanks to creative and bright minds like @macbaren. Cannabis + Cryptocurrency -- This posts is a brilliant display of how much and how quickly society is changing!
we need non tracable weed coin :D where u can buy 1g for 1coin...and where its illigal to sell weed, nobody can prove you sell...because of untrecable coin
and yea, I'm high:D
Thinks for rhis new information. I didnt know all this was allready happpening. I myself am planning on opening a bizniz. With cannabis as a main product.