17 Weed-Oriented Coins With High Expectations
Cryptocurrency and cannabis industries have grown to be very close in recent years. These days, investors can use cryptocurrencies backed by cannabis seeds for renting a working space, buying herbs, and so much more. Additionally, cannabis-based cryptos can solve one of the biggest issues in the cannabis industry, which is the inability to access credit card processing and banking.
So, instead of moving around high amounts of cash, investors can simply use cryptocurrencies. Thanks to this, the last several years have caused numerous cannabis-based altcoins to appear, which is what we will be reviewing today.
1) Budbo (BUBO)
Budbo is a decentralized project based on the blockchain technology that was created to help cannabis business remain in compliance with the current laws. It is compatible with all types of cannabis-related businesses, including cultivators, distributors, researchers, retailers, and more.
So, if a weed producer wishes to track nutrients given to their plants, they can do it via the blockchain. The blockchain is capable of keeping cheap and efficient records of everything that is going on, with this information being completely immune to tampering once it gets recorded. That way, customers get a guarantee that they are paying what they asked for.
2) BlazerCoin (BLAZR)
BlazerCoin is a project that first appeared in 2017. It is an open-source and PoW-backed coin, with a total supply of 294,336,000 units.
It can be earned quite easily through promotions, such as social network posts. Additionally, those who can find issues with it receive crypto rewards as well. BLAZR can be found on CoinExchange and YoBit.
3) Marijuanacoin (MAR)
Marijuanacoin is a secretive coin that exists in the market’s shadows. The platform was launched in 2016, with the goal of allowing people to buy weed via crypto from different dispensaries. At the moment, it can only be bought on Cryptopia. Its total supply is equal to its circulating supply, which is 1,631,601 units.
Despite the fact that the coin is still being traded regularly, its website is no longer active. The same is true for their Twitter account.
4) Bongger (BGR)
BGR is one of the lesser-known coins, but it is still aimed at cannabis supporters. It is an open-source crypto, but it also has an interest in charity. Those in need can receive medical marijuana treatment, while researchers are getting funds for further researching cannabis from the Bongger Foundation.
BGR can be donated directly to Bongger Foundation, but the coin can also function as a regular crypto, which means that it can be used for trading. It is accepted at several exchanges, including Bitgur, Coincodex, Cryptopia, and Coinlib. The coin can also be mined, and there are four mining pools that are dedicated to creating new tokens.
5) Cannation (CNNC)
Not much is known about CNNC at this time. It is a P2P crypto, which was launched in April 2017. It doesn’t have a website or a whitepaper that is released to the public. It is a hybrid of PoW and PoS, and there are around 2,476,893 CNNC in its circulating supply. The coin can be traded at YoBit, Cryptopia, Nova Exchange, and CoinExchange.
6) Sativacoin (STV)
Sativacoin is one of the older coins, which was launched in 2014. It was open-source until 2016, and its goal is the same as that of many other such cryptos — to become a dominant coin for buying weed.
Since its launch, however, STV expanded to become a go-to crypto for hemp and many other goods. Additionally, it can also be used for buying marijuana-related clothes. It has its own marketplace called Sativa Exchange, which accepts BTC, LTC, and ETH. Other exchange that trade it include NovaExchange, YoBit, and Cryptopia.
7) CannaCoin (CCN)
CCN is yet another open-source altcoin that has its own decentralized blockchain. It came to be as a fork of Litecoin, and it uses PoS. It features its own wallet, and due to its open-source nature, developers have also used it for making other dApps. There is a CannaPay website that focuses on cannabis credit cards, and it even had its own ICO.
Another project, Cannasight, allows developers to create different open-source apps. Cannacoin has also been around from 2014, but most of its projects are still in the early stages of development. The coin is currently only available on Cryptopia.
8) GreenMed (GRMD)
According to its Whitepaper, GreenMed’s primary focus is on the weed industry’s need to process credit card transactions. They have an app called GreenMed, that allows investors to get weed delivered, or to buy it personally at one of the dispensaries. Using it is simple, and all that users need to do is convert dollars to GRMD. After that, they can transfer their tokens to a business account owned by a cannabis-based business, and they will get their weed.
9) KushCoin (KUSH)
KushCoin is a project that applies blockchain tech to a supply chain for medical marijuana. Basically, this crypto aims to improve the process of both growing and selling weed. This includes finding and acquiring land for its growth, storing and transporting the product, selling it to those in need, delivering it, and alike. Of course, all of this is done in complete compliance with all laws, whether those are federal, state, or local.
KushCoin was launched in 2014, and one of its goals is to avoid numerous fees that consumers need to pay. To do this, its developers chose to turn to cryptocurrency. Unfortunately, some reports claim that KUSH got hacked at some point, but it seems that the real developer managed to regain control. KUSH can be bought via YoBit and Cryptopia.
10) Growers International (GRWI)
GRWI is a coin from 2015, which was developed with a purpose of meeting weed producers’ specific needs. Members of its platform can keep track of their products’ genetic makeup, and chart seed-to-scale data. That way, they can use blockchain to prove the authenticity of their product.
Additionally, GRWI plans to start offering smart contracts, so that farmers will be able to finalize different costs. GRWI also has its own crypto wallet, and it can be traded on CCEX and Cryptopia.
11) GanjaCoin (MRJA)
MRJA is yet another weed crypto that can be used for buying marijuana, both online and in dispensaries. Through its website, users can buy CBD products which also include smoking accessories.
It has numerous advantages that weed producers can use, such as the ability to pay fewer fees, easily move money, and track sales on the blockchain. Additionally, the coin is unique since it is one of the first ones to be backed by cannabis seeds. It is estimated that each token will be backed by an entire gram of weed. The coin’s total supply is only 42,000,000 units, which is lower than most. Also, the coin can be traded on Stocks.Exchange, and MasternodeXchange.
12) CannabisCoin (CANN)
CANN is a crypto that can be used for buying medical marijuana. It has a total supply of 91,859,176 units, and it was launched back in 2014. Today, the coin is really cheap, with a price barely over $0.01.
However, its mission remains, with one part of it being a dedication to make cryptos and cannabis more acceptable. Both of these industries are frowned upon even today, with cryptos being endangered by hackers, and cannabis struggling with the War on Drugs.
13) DopeCoin (DOPE)
DopeCoin is unique due to the fact that it isn’t picky regarding who it works with. While most other coins aim to stick to legal weed firms, DOPE is happy to do any sort of weed business. It is another coin that was launched in 2014. but was revamped in 2017 as DopeCoinGold. Still, its goal was always the same — to allow people to buy weed anonymously, and without any additional transaction fees.
DOPE doesn’t care if the weed comes from a legal business of from the black market. However, even with a reputation like that, it is accepted by a lot of merchants in Europe and the US alike. DOPE can even be traded on Bittrex, and it features its own wallet.
14) Tokes (TKS)
Tokes is another weed coin that runs on Waves blockchain. Its goal is to revolutionize the weed supply chain by moving the entire weed business away from traditional cash.
Tokes is also unique due to the fact that it is AML and KYC compliant, where most other coins operate in a legal gray area. What this means is that Tokes supports Anti-Money Laundering rules, as well as Know Your Customer guidelines. It can be kept in Waves wallet, and it is accepted at numerous dispensaries.
15) Paragon (PRG)
Surprisingly enough, Paragon is not used for buying weed. Instead, its focus lies in assisting the growth of weed businesses themselves. Paragon has a completely new co working space which is based in Los Angeles under the name of ParagonSpace.
It developed PRG as a form of payment for weed businesses so that they can use this coin for paying rent. As a result, Paragon only accepts its own currency. However, despite the fact that the company only accepts this coin, PRG’s use managed to grow beyond this single purpose. Eventually, the company is hoping that their coin will be able to serve as a currency used between businesses and customers, as well as between different businesses themselves.
Additionally, ParagonChain aims to provide smart contracts that will ease transactions of all sorts. As of yet, PRG is still a young coin, in its early days. However, it is growing at a rapid pace, and its ecosystem is becoming more and more advanced.
16) HempCoin (THC)
HempCoin is more than just a weed coin. With its total supply of 300,000,000 units, the coin hopes to include the entire agriculture industry. This means cannabis and hemp, but also tobacco, and beyond. It is the first weed-based crypto that focuses on farmers instead of consumers. It was launched in 2014, but it is also expanding quite successfully.
THC’s plan is to introduce HempPay at some point in 2019, which will be a payment platform that will allow the purchase of weed from dispensaries. Additionally, this will be an app, but also a website, and they will even make their own crypto credit card. THC can be traded on qTrade and Bittrex.
17) PotCoin (POT)
Of course, we could not complete this list without mentioning PotCoin. POT serves as a gold standard when it comes to weed cryptos. It is decentralized, it uses PoS, and it appeared among the first cannabis cryptocurrencies back in 2014.
Since then, the coin even got its own ATMs in Colorado. Similarly to BTC, its market cap reached its all-time high back in January of this year. However, the bearish year quickly knocked it back down, but the coin spiked again in June, after a famous basketball player, Dennis Rodman, wore it on a t-shirt during US-North Korea summit.
POT can be bought in a lot of exchanges, including Changelly, PotWallet, PotcoinTrade, and Bittrex.
While there are numerous other cannabis-related cryptocurrencies for investors to choose and invest in, these are some of the biggest representatives of this part of the crypto industry. Buying weed legally is becoming more and more acceptable with each passing day, while cryptocurrencies also made significant progress toward mainstream usage.
Many believe that these two industries might enter the mainstream together. Whether it will happen or not — remains to be seen. What we can tell with certainty, however, is that weed can be bought legally via crypto and that these coins are the best way to go about it.