Bitcoin and cryptocurrencies have been a trending topic for a while now. We have gone full geek on the world of cannabis cryptos and here are the 5 best known ones. Careful though: this is an informative piece, not investment advice. Cryptos are very volatile and many of these coins barely have any activity left, so read up properly before you put in a single euro.
Thinking about getting into cryptocurrencies? Take a look at these 5 cannabis cryptos
You have probably heard some relative or friend talk about their first moves in this little world. We are not going to get into whether it is a bubble or explain to you how it works; what we do like the sound of is the idea of taking banks out of the equation. Cannabis cryptos make it easier for people in the weed business (or people who simply want to buy weed where it is legal) to handle their transactions. Let us look at the 5 most talked about ones, with their upsides, downsides and quirks.
PotCoin
It launched in 2014 and was the first weed related crypto. Much like Bitcoin among mainstream cryptos, PotCoin is one of the most established names in the sector thanks to how long it has been around. It was born to solve the banking problems of people handling legal weed transactions, and it did not really take off until 2017, when eccentric former NBA player Dennis Rodman promoted it and its price shot up.
CannabisCoin
It was the second one out after PotCoin. It is an open source, peer-to-peer, proof of work currency, designed to make transactions easier in medical marijuana dispensaries. It made a big splash at first but then faded away. Its most eye catching idea is turning crypto straight into weed: under the name ‘CANNdy’ they even had their own line of strains.
DopeCoin
Founded by Adam Howell, alias ‘Dopey’, according to its own website. Not much is known about the specific markets it serves. Its mission, so they say, is to give weed enthusiasts a modern and secure way of doing business in the 21st century. It is the most obscure and least stable option of the lot, so it is the one that convinces us least.
HempCoin
It was also born in 2014, but with an approach aimed less at the person buying weed and more at the farming industry and at medical and recreational dispensaries. It has a more clinical feel to it: it aims to make transactions easier between growers and local shops, as well as the purchase of growing equipment and tools.
CannaCoin
Also launched in 2014, it describes itself as a group of cannabis enthusiasts working on the development of crypto applications tied to cannabis production, seeds and extracts, glass blowing, vaporiser manufacturing and more.
Keep reading: Morocco Legalises Medical and Therapeutic Cannabis and 5 Places to Eat Munchies in Madrid
