Cryptocurrencies are digital currencies that aren’t printed and are decentralized. They come with certain sets of perks. So, why did anyone feel like “cannabis coins” were needed?
The answer is really simple: even if you live in a state where medical cannabis was decriminalized and regulated, it’s still very much illicit at the federal level. This way, if you purchase some weed via a bank transaction, you can suffer some dire consequences.
Since cannabis coins are decentralized, no one can track down the transactions you’ve made. So, let us present you the best way of purchasing cannabis without facing any penalties.
Famous Cannabis Currencies
This is one of the “youngest” cannabis coins, having been created in 2014. It has a total market of $2 million and is worth $0.45. That’s not much, but when you own a huge pool of CannaCoin, things look a little different.
The coin is based on a P2P blockchain, so there’s no way somebody could look at your transaction.
This cannabis cryptocurrency was created by an entrepreneur whose name is Adam Howell. It was established in 2014. At the moment, there are approximately 114 million DopeCoins in circulation. Not many things are known about the DopeCoin.
What we do know, though, is that it has a market cap of a whopping $23 million. There’s a chance this is some kind of premium currency for an elite of people. That might explain the secrecy that surrounds it.
At this point, it looks like all cannabis coins were created in 2014. PotCoin is one of those cryptocurrencies that faced obscurity for quite a long time, then exploded. From a coin nobody knew of, this has accumulated a market cap of an incredible $66.7 million.
There are 215 million PotCoins in circulation, even though, in total, there are more than 415 million. PotCoin is known for being transacted faster than the BitCoin.
This is the first coin in our top that isn’t intended for individuals, but for institutions like medical cannabis dispensaries that need to make secure transactions with the people they purchase cannabis from.
Its market cap is $125 million + and one HempCoin is worth $0.55.
- Cannabis Coin
In the same fashion as the HempCoin, the Cannabis Coin is meant to facilitate transactions between dispensaries and pot farmers. It features an underwhelming $25.8 million market cap. There are a little over 70 million Cannabis Coins available.
In a few years, people might actually use only cannabis coins to purchase their medication. This is no surprise, really, considering that cryptocurrencies gain more and more ground and become a go-to transaction method for a lot of people.
If you need to make safe transactions, a cannabis coin like the CannaCoin can be of a tremendous help. Just make sure you know how this type of currency usually works before you make any transaction. For now you can at least buy marijuana, not coins.