Crypto
Top 5 Marijuana Cryptocurrencies
When it comes to investing in the legal marijuana industry, we don’t call it the “green rush” for nothing.
The cannabis markets carry plenty of potential for cryptocurrency and blockchain applications.
Due to the continuing federal illegality of cannabis and the uncertainty from financial institutions, cannabis businesses are left looking for other alternatives for both payment methods and financing channels.
Blockchain technology can alleviate both of those issues for the cannabis industry and enable businesses to thrive despite the hurdles they face.
– Although marijuana is legal in many states, the U.S. federal government hasn’t decriminalized the drug.
– Pot-based operators and consumers can use marijuana-specific cryptocurrencies for their transactions since banks cannot legally conduct pot-related business.
– Popular marijuana-based cryptocurrencies include PotCoin, CannabisCoin, DopeCoin, HempCoin, and CannaCoin.
1) TOKES (TKS)
Name: TOKES
Symbol: TKS
Launch: December 2016
Technical Details
Coin or Token: Token
Consensus Method: –
Source code: –
Mineable: No
Brief: The TOKES Platform provides a digital currency solution dedicated to the Cannabis Industry. The token can be utilized by customers to facilitate in-dispensary purchases, and in a business-to-business capacity across industry participants.
2) PotCoin (POT)
Name: PotCoin
Symbol: POT
Launch: January 2014
Technical Details:
Coin or Token: Coin
Consensus Method: Po
Source code: Here
Mineable: No
Buy/Sell: Exchange PotCoin, Bittrex, Changelly, Indacoin, etc.
Brief: An ultra-secure digital cryptocurrency, network and banking solution for the $100 billion global legal marijuana industry.
3) HempCoin (THC)
Name: HempCoin
Symbol: THC
Launch: March 2014
Technical Details:
Coin or Token: Coin
Consensus Method: PoW
Source code: Here
Mineable: Yes
Brief: HempCoin goes beyond the cannabis industry; owners want to make it available to growers and distributors in the larger agricultural space, including the areas of hemp and tobacco. It promotes allowing purchasers to be as anonymous as possible using a secure masternode system designed to mask users. To participate in a masternode, people need at least 20,000 THC tokens as collateral in cases of fraud. But being part of a masternode does provide access to even more coins over time, even more so if the token’s value increases. All standard transactions are mixed with other transactions, which means any outside monitoring or hacking attempts of the data stream won’t be successful. Investors can vote on company proposals and be part of a social community. Token owners pay from their wallets through a mobile app, online, or the HempPAY card.
4) CannabisCoin (CANN)
Name: CannabisCoin
Symbol: CANN
Launch: October 2014
Technical Details:
Coin or Token: Coin
Consensus Method: PoW
Source code: Here
Mineable: Yes
Brief: The CannabisCoin is a peer-to-peer cryptocurrency for the Cannabis Community.
5) DopeCoin (DOPE)
Name: DopeCoin
Symbol: DOPE
Launch: February 2014
Technical Details:
Coin or Token: Coin
Consensus Method: PoS
Source code: Here
Mineable: No
Brief: The purpose of DopeCoin is to provide a billion dollar marketplace with additional layers of protection for the marijuana industry.
Note: While cannabis related cryptocurrencies bring tons of potential, there is also reason for caution when exploring various investment options. Values for many cryptocurrencies remain volatile, sometimes changing dramatically each minute.
With that said, as digital is up to serve the marijuana industry and bring the much needed financial services to legitimate companies.
Mat
Mat is the founder of cashtipsandtricks and has been working in the financial sector in Luxembourg for the past 10 years and brings his insights as an investor and entrepreneur.
