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Top 4 Cannacoins in the Cryptocurrency Industry
Have you heard about weed coins? They’re a digital currency created to simplify financial transactions in the cannabis industry.
Are you ready to check out the top options for weed coins? Dive right in.
THE ROLE OF WEED COINS
Why is there a need for weed coins and cryptocurrency?
Cannabis regulations are complex. The herb is legal in certain states but remains outlawed federally. Due to this, farmers, distributors, and other roleplayers in the marijuana industry can’t use traditional financial institutions.
The situation has left weed business people with no choice but to transact with cash. These operators are vulnerable to robberies and theft as a result.
Cryptocurrency offers a solution. Some of the benefits of using cannabis-specific digital wallets include the following:
- Safe and secure transactions
- Instant online transfers
- Low fees
Incorporating modern technology into the marijuana market helps streamline operations. Some commercial farmers are already witnessing how AI is transforming the cannabis industry. Turning to blockchain for financial dealings is a viable option.
Check out the top four options for weed coins available today.
PotCoin was the first cannabis coin. It launched in 2014 and prides itself on being innovative and a driving force in the future of weed finance. The network is accessible worldwide, and individuals can integrate with it according to their needs.
The decentralized, open-source currency offers users security and transparency. There are more than 408,000 network participants, and more than one billion dollars worth of transactions have taken place on the blockchain.
Some of PotCoin’s ecosystem solutions for the cannabis business include:
- Finance assistance: Those requiring loans for expansion or other business matters can get funding through the decentralized system. They can borrow from those in the community at fair rates.
- Affiliate marketing: Join the PotCoin Shopping Network to drive customers to your store or earn free coins with purchases.
- Compliance: Streamline all your processes, and automate compliance tasks and other seed-to-sale transactions using the PotCoin Network.
- Rewards: Businesses can launch and implement a rewards program using the currency’s software. This action drives traffic and sales back to their sites.
What’s the best part of this system? Customers can swap their loyalty points for more PotCoins.
Credit card and point-of-sale options are also in the works for PotCoin.
This digital currency is limited to 420 million coins, with approximately 226 million in circulation. The blockchain trades on three markets and upgraded its wallets to a new platform on the Nexus network.
A few months after the release of PotCoin, CannabisCoin launched. The peer-to-peer cryptocurrency offers instant, real-world payments. Users can download the wallet onto the following operating systems:
- Apple Mac
The marijuana cryptocurrency compares itself to other major contenders using blockchain. Some even refer to it as the weed bitcoin. After CannabisCoin launched in 2014, it attracted much attention but failed to be a profitable investment.
CannabisCoin aims to convert digital currency directly into marijuana using its CANNdy exchange. A single coin is worth a gram of weed specially grown for the service.
Out of a total supply of 91.8 million, 77 million CannabisCoins are in circulation.
A bit of a dark horse compared to other safe weed coin options, DopeCoin launched in January 2014. Founder Adam Howell’s mission is to give those in the cannabis industry a secure way to conduct business transactions.
Users can anonymously transact with no fees or hidden costs. DopeCoin is also a proof-of-stake currency, rewarding investors with 5% annual interest.
The cryptocurrency aims at establishing itself as a solution for marijuana enthusiasts in the long term. Its objectives include allowing users to make real-world purchases securely.
Transactions on the network are authentic and occur almost instantly. Each payment is permanent and irreversible.
There are currently 117 million DopeCoins in circulation.
HempCoin also hit the scene in 2014. This cryptocurrency isn’t limited to the cannabis market, unlike other weed coin options.
The network aims to assist those involved in the agriculture industry and medical and recreational dispensaries. According to its website, HempCoin’s main objective is to facilitate secure transactions between the various players in these markets.
HempCoin is more than a digital currency for exchange. It’s evolved into a multi-faceted network that helps streamline the different roles in the agricultural industry. A partnership with the Komodo ecosystem gives users access to multiple resources.
An example of this cutting-edge technology is HempCoin’s patented HempTRAC. Using this resource, farmers can log and track batches of seeds as they mature for automated monitoring.
It’s like having AI assist with optimal farming and compliments the resources some growers implement in the age of digital horticulture. The HempTRAC platform also uses predictive analytics to improve cultivation by:
- Determining ideal soil types.
- Optimizing nutrient and water mixers to minimize waste.
- Monitoring soil temperature, humidity levels, and wind speed.
- Creating schedules for harvesting.
Other advantages of this technology include the following:
- Real-time data management.
- User-friendly interface.
- Speedy transactions in a market that doesn’t close.
- Pseudonymous and secure transactions.
- Rewards for on-chain participation.
There are several viable weed coins, or marijuana digital currencies, and the blockchain is an effective solution for one of the biggest problems in the weed industry.
Many countries have blurred cannabis laws that make financial transactions challenging. Opting for the blockchain overcomes this problem.
Cryptocurrencies may broaden funding sources for weed farmers who can’t get loans through traditional methods. Blockchain technology allows users to make or receive payments worldwide within minutes at a negligible cost.
The top four digital currencies are secure, easy to use, and convenient. Why not access one of these wallets for your future 420 transactions?