At a time when the cannabis industry faces a huge problem in dealing with the traditional banking sector, cryptocurrencies come as saviors! The marijuana cryptocurrencies are helping weed businesses to process transactions and also open bank accounts.
Here, we will be talking about 4 cannabis cryptocurrencies with the potential to change the future of the marijuana industry.
1. PotCoin (POT)
PotCoin is one of the most popular cannabis cryptocurrencies in the market. Around since 2014, the decentralized cryptocurrency has a maximum supply of 420 million POT tokens. When the crypto-market was at its peak, PotCoin’s market cap peaked at $90,097,520 USD on January 1, 2018. Currently, it is also the highest-valued cannabis cryptocurrency in the market.
One can trade POT on multiple crypto-exchanges like Changelly, Bittrex, PotWallet, and PotcoinTrade. In June, as a part of an endorsement, pro-basketball player Dennis Rodman wore a PotCoin.com t-shirt to the US-North Korea summit. Soon after, PotCoin’s value jumped 20%.
2. HempCoin (THC)
HempCoin is not specific to only cannabis. Instead, it has an application for the entire agriculture industry, from marijuana to tobacco and hemp. Rather than focusing on cannabis consumers exclusively, HempCoin is the first crypto-token to focus on farmers. Launched back in 2014, HempCoin allowed buying farming supplies in bulk. The maximum supply of HempCoin is 300 million.
Next year in 2019, HempCoin plans to introduce its own payment platform HempPay, to buy cannabis from dispensaries. HempPay will serve as a website, an app, as well as a cryptocurrency credit card.
HempCoin (THC) is available for trade on cryptocurrency exchanges Nova Exchange and Bittrex.
3. Tokes (TKS)
This cannabis digital currency functions on the Waves blockchain. The basic aim of Tokes is to move the entire cannabis customer transactions and supply chain away from cash.
The unique part about the Tokes cannabis cryptocurrency is that it is AML and KYC compliant. Meaning, the Tokes platform follows Know Your Customer financial guidelines and Anti-Money Laundering rules to protect customer’s investments and regulatory requirements. Furthermore, the Tokes platform also provides security compliance with Financial Industry Regulatory Authority (FINRA).
The total supply of TKS tokens is 50 million. The Tokes team is currently working on developing an app with useful information, like costs and strains, dispensaries locations, and of course buying cannabis with just a click.
4. CannabisCoin (CANN)
This cryptocurrency is specifically designed to make it easy to buy medical marijuana. The total supply of CannabisCoin is 91,859,176 CANN tokens. During its launch in 2014, dispensaries sold one gram of weed for one CANN coin. Currently, one CANN coin is worth just over $0.01 USD.
CannabisCoin aims to make both cryptocurrency and marijuana more socially acceptable. You can find CANN on Bittrex, Cryptopia, YoBit and many more.
Risk Disclosure
This article is not intending to provide investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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