Are you searching for good investment opportunities? If so, consider investing in cannabis cryptocurrencies. This growing market presents serious profit potential for even the most amateur cryptocurrency traders. The year 2021 is gearing up to be a good year for cannabis cryptocurrency. Driven by the sweeping legalization of recreational and medical cannabis, not to mention the increased demand for both sectors, it’s safe to say that crypto cannabis coins are attracting attention from all corners.
While the prospect of high risk and volatility often deters people from investing in the cryptocurrency market, there are plenty of ways to be “weedsmart”, such as by utilizing automated trading platforms and brushing up on knowledge that will aid you in becoming a trader/investor with minimal experience.
As cannabis lobbyists tout the ever-expanding number of U.S. states enacting medical and recreational markets, more investors feel optimistic about the likelihood of federal legalization transpiring soon. Even without federal legalization, cannabis crypto coins offer promising prospects for both investors and traders!
Why choose the cannabis industry to bulk up your crypto portfolio?
For the first time in human history, the world is warming up to the idea of legal weed. Aside from the 36 legal medical cannabis states and the 17 legal recreational cannabis states, the medicinal herb is also being embraced in Canada, Uruguay, and a significant portion of Europe and South America.
Investors who are willing to take risks cannot ignore the appeal of crypto cannabis coin investments. Although the plant remains federally illegal, U.S. cannabis sales are forecast to surpass $41.5 billion by 2025.
Safe, secure, and fast, cryptocurrency helps prevent industry business owners from holding on to excess cash-in-hand, thus protecting them from criminals and thieves. Since banks are still unable to conduct legal cannabis-related transactions, cryptocurrency eradicates hassle and worry.
5 Top-Rated Cannabis Cryptocurrencies Worth Trading
Cryptocurrencies are somewhat reviving financial regulations for the ever-evolving cannabis industry. Breathing new life and opportunity into the legal cannabis market, cryptocurrency trading opportunities use cryptography to manage the creation of new units of certain cannabis crypto coins, in addition to securing and verifying transactions.
If you’re thinking about putting your money on cannabis cryptocurrency this summer, reflect on the following five safe and profitable options:
1) PotCoin (POT)
Keen to invest in an ultra-secure digital cryptocurrency solution? If so, leap and get a piece of the PotCoins pie. This modular blockchain payment technology enables users to send digital coins using the power of the Internet easily.
Since PotCoin became the first industry-focused cryptocurrency, transactions have surpassed the $1 billion mark. Moreover, the number of network participants welcomed by PotCoin has exceeded 408,000.
2) CannabisCoin (CANN)
A highly recommended proof-of-work cannabis cryptocurrency that offers real-world payment solutions is CannabisCoin. Just months after Potcoin debuted, this peer-to-peer, open-source currency emerged intending to simplify transactions for medical cannabis dispensaries.
Investors and traders who choose CannabisCoin can transform their cryptocurrency directly into cannabis strains and medicines, all of which are exchangeable at a rate of 1 CannabisCoin to 1 gram under the name “CANNdy”.
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3) DopeCoin (DOPE)
Founded in February 2014 by Adam Howell, A.K.A. “Dopey”, DopeCoin is constantly evolving with a “mission is to provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century.”
Users of this Proof of Stake (PoS) currency can conduct transactions pseudo-anonymously in less than a minute. What’s more, the cryptocurrency platform does not charge for fees or transactions. There’s also an opportunity to earn 5% annual interest with this cannabis cryptocurrency.
4) HempCoin (THC)
HempCoin is a decentralized, immutable cannabis cryptocurrency. Among the first 30 digital currencies to be developed in 2014, this blockchain solution for the global agriculture trade harnesses the power of HempTRAC for data, HempDEX for hemp exchange, and HempPAY for payments.
HempCoin enables each customer to take control of unique blockchain infrastructure scaling, thus making it possible to financially-ascend freely and linearly. Bound to the Bitcoin network by a robust Delayed Proof of Work (dPoW) security mechanism, this cannabis cryptocurrency is 100% PoS.
5) CannaCoin (CCN)
Last (but certainly not least) on our list of the top five most profitable cannabis cryptocurrencies for summer 2021 is CannaCoin, which functions on a decentralized blockchain. This cryptocurrency yields Peer2Peer technology.
CannaCoin’s founders are a “group of cannabis enthusiasts working towards the future development of cryptocurrency applications.” Soon after its 2014 launch, CannaCoin made the transition to PoS at block 370,000. These crypto coins are a viable choice for investors and traders who are interested in cannabis production, crypto development, extract production, glass blowing facilities, seed production, and dab station and vape manufacturing.
What other types of crypto cannabis coins are available?
Before putting your hard-earned money into cannabis cryptocurrency as an investment and/or trading solution, remember that you’re not limited to the coins mentioned above!
They are, however, likely to be the most lucrative options for summer 2021. Conversely, Paragon (PRG), GreenMed (GRMD), Tokes (TKS) and Growers International (GRW) have also stirred up excitement.
To ensure you make a wise investment, pay attention to cannabis industry news trends, scan and analyze the intraday markets frequently, utilize trading robots to make yourself aware of cryptocurrency-influencing factors and, of course, be patient.
References:
- https://apnews.com/article/human-welfare-medication-government-regulations-medical-marijuana-health-c8386aa194032d86eb8801a06e0b2dfe
- https://www.investopedia.com/terms/p/proof-work.asp
- https://cointelegraph.com/tags/dopecoin
- https://sites.google.com/site/cannacoinwiki/
For similar stories and updates from the world of cryptocurrency trading, stay tuned to ReadScoops.com!
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