Want to invest in a cannabis cryptocurrency backed by seeds? Rent a cannabis co-working space? Or do you just want to buy herb without carrying cash around? These cannabis cryptocurrencies will help you do all this and more.
Keep in mind that cannabis cryptocurrencies solve the biggest problem facing the cannabis industry: the inability to access banking and credit card processing. Instead of transporting armored cars worth of cash, cannabis businesses can process transactions and even open a bank account, thanks to weed cryptocurrency.
And we don’t just mean bitcoin. These cannabis cryptocurrencies built on blockchain are changing future of the weed industry, legal and otherwise.
17. Budbo (BUBO)
Budbo is a decentralized blockchain technology designed to help cannabis businesses stay in total compliance with the law. It caters to all different types of cannabis businesses. Specifically, this weed cryptocurrency is designed for cannabis cultivators, retailers, distributors, researchers, laboratories and manufacturers.
What is blockchain for cannabis? Blockchain is, at its core, a ledger for recording transactions that you cannot alter thereafter. For instance, a weed producer wants to track what nutrients they’ve given their plants, and where the plant is in the flower life cycle. A dispensary wants a cheap and efficient record of sales and point of sale system. A customer wants a guarantee that they’ll receive that they paid for, which could take the form of a smart contract.
Budbo offers all these services. All of this is possible thanks to the Budbo token, which runs on Ethereum. In their ICO, Budbo raised $30 million.
16. BlazerCoin (BLAZR)
BlazerCoin came out in 2017. There can only ever be 294,336,000 of this open-source, PoW-backed cryptocurrency.
More interested in earning cryptocurrency? BlazerCoin is offering 564,480 BLAZR coins as “bounty.” This means that anyone who promotes BLAZR (on Twitter, for instance) or finds an issue with it, will be rewarded with crypto.
You can find BlazerCoin on YoBit and CoinExchange.
15. Marijuanacoin (MAR)
Marijuanacoin exists somewhat in the shadows. This cryptocurrency platform began in 2016 with the goal of giving people a way to buy weed with cryptocurrency from dispensaries.
Currently, the only place to buy Marijuanacoin is Cryptopia. All 1,631,601 MAR coins are in circulation. Though Marijuanacoin continues to trade, the website for the Marijuana Coin platform is no longer functional, and their Twitter hasn’t been active since 2017.
14. Bongger (BGR)
Though you may not have heard of Bongger, this crypto is aimed at cannabis enthusiasts. Not only is Bongger an open-source weed cryptocurrency, but it’s a charity, too. The Bongger Foundation supports cannabis research and provides medical marijuana treatment to those in need.
You can directly donate BGR to the Bongger Foundation. It also functions as a regular cryptocurrency, meaning that you can use it as an asset or unit of trade. So far, Bongger exists on Cryptopia, Coincodex, Coinlib and Bitgur exchanges. Additionally, there are four Bongger mining pools.
So far, only 504 Bonger coins have been mined.
13. Cannation (CNNC)
We don’t know much about Cannation. This peer-to-peer cryptocurrency, which came out in April of 2017, does not have a functioning website, nor a publicly available whitepaper.
We do know, however, that it uses hybrid PoW and PoS verification. Furthermore, all of the 2,476,893 CNNC are in circulation. You can exchange for CCN on Nova Exchange, CoinExchange, Cryptopia and YoBit.
12. Sativacoin (STV)
When Sativacoin launched in 2014, it was an open-source blockchain. Originally, STV had the same goal as many other cannabis cryptocurrencies: become the market’s go-to crypto for buying weed.
But since then, Sativacoin has pivoted to become a cryptocurrency for hemp and other goods. More specifically, you can buy weed-related clothing with Sativacoin. It also has its own marketplace, Sativa Exchange, where you can exchange LTC, ETH and BTC for STV. Additionally, Cryptopia, YoBit and NovaExchange trade STV.
Since 2016, Sativacoin has not been open-source.
11. CannaCoin (CCN)
Cannacoin is an open-source cannabis altcoin that runs on its own decentralized blockchain. Forked off Litecoin, Cannacoin uses Proof of Stake-Velocity.
It also has its own Cannacoin wallet. And because Cannacoin is open-source, developers can use it to create other applications. For instance, CannaPay a website devoted to cannabis credit cards and undergoing its own ICO, is connected to Cannacoin’s protocol. Cannasight, another Cannacoin project, lets developers create a variety of open-source applications.
Keep in mind that though Cannacoin has been around since 2014, most of its projects are in early stages of development. Currently, you can only buy Cannacoin on Cryptopia.
10. GreenMed (GRMD)
GreenMed’s whitepaper specifically addresses the industry’s urgent need to process credit card transactions. Though their app, GreenMed lets you get weed delivered or buy it at a dispensary. First, you convert USD to the GreenMed token. Next, you transfer those tokens to the cannabis business’ account for the exact amount of weed (in USD) that you’re trying to buy.
Afterward, the cannabis business can either keep the token in their GreenMed virtual debit card (think crypto wallet) or deposit it into their bank account in USD. The GreenMed token also exists on the public Ethereum blockchain.
9. KushCoin (KUSH)
KushCoin is applying blockchain technology to the medical marijuana supply chain. In other words, this cannabis cryptocurrency seeks to streamline the process of growing and selling weed: acquiring land, storing, transporting, selling to qualified patients, delivering product… all while staying in compliance with federal, state and local laws.
Back in 2014, KushCoin started with the goal of addressing all these issues. In short, the point was to have different levels of the supply chain and consumers avoid fees and hassle by paying with a cryptocurrency. They planned on having a KushCoin wallet, a seed bank for KushCoin users and a crypto credit card.
But according to Bitcoin Forum, someone hacked KushCoin. However, the alleged developer recently reclaimed control. You can buy KushCoin on Cryptopia and YoBit.
8. Growers International (GRWI)
Growers International dates back to 2015. Its purpose was to meet the specific needs of weed producers. As a member of Growers International’s decentralized platform, marijuana growers can chart seed-to-sale data and keep a record of their plants’ genetic makeup. In this way, the immutability of the decentralized ledger lets growers prove a strain’s authenticity.
Growers International plans on offering smart contracts. In the future, cannabis farmers will use their smart contracts to finalize electric, labor and supply costs. Costly and timely negotiation will no longer be necessary.
Growers International already has a cryptocurrency wallet. GRWI is trading on Cryptopia and CCEX. Today, their partners are already buying supplies using the GRWI token.
7. GanjaCoin (MRJA)
GanjaCoin is another weed cryptocurrency for buying weed both from dispensaries and online. THough GanjaCoin’s website, you can buy CBD products and smoking accessories. Additionally, GanjaCoin, which is a privately created cryptocurrency, is working on dispensary partnerships. In the near future, you’ll be able to buy weed containing THC with GanjaCoin.
For users, GanjaCoin offers the convenience of virtual payment. And for weed producers, cannabis cryptocurrency is even more advantageous. With GanjaCoin, they pay fewer fees, avoid the danger and expense of armored cars and track sales via blockchain.
As a cannabis cryptocurrency, GanjaCoin is unique because it’s the first one backed by feminized cannabis seeds. In the future, GanjaCoin will back each coin with a whole gram of weed. The benefit of using this model, in addition to offering a value guarantee, is that it keeps supply low. There will only ever be 42,000,000 GanjaCoins, which is lower than other cannabis cryptocurrencies.
GanjaCoin is currently listed on MasternodeXchange and Stocks. Exchange and provides their own cryptocurrency wallet.
6. CannabisCoin (CANN)
CannabisCoin is cryptocurrency designed to making buying medical marijuana easier. This 91,859,176 capped cannabis crypto made waves back in 2014 when dispensaries sold 1 gram of cannabis for one CannabisCoin. Keep in mind that one CANN coin is worth a little over $0.01 USD today.
Part of CannabisCoin’s mission is to make both cannabis and cryptocurrency more socially acceptable. Today, both industries face debilitating stigma. For instance, potential cryptocurrency investors are wary because of the perceived prevalence of bitcoin hacks. Similarly, the cannabis industry struggles with the War on Drugs’ legacy.
5. DopeCoin (DOPE)
There are a lot of companies that provide blockchain and cryptocurrency-based services to legal weed companies. DopeCoin, on the other hand, is happy to work with any sort of weed business, legal or otherwise.
DopeCoin, which launched in 2014, was revamped as DopeCoinGold in early 2017. But no matter its iteration, DopeCoin has always the same objective: give people a way to buy weed anonymously without paying transaction fees. They don’t care if you’re getting your herb from a licensed dispensary or an online black market. Merchants in both the U.S. and in Europe accept DopeCoin payments.
You can convert other cryptos to DopeCoin on Bittrex. DopeCoin also has their own cryptocurrency wallet. This renegade cannabis cryptocurrency is capped at 200 million.
4. Tokes (TKS)
This cannabis cryptocurrency runs on the Waves blockchain. Tokes aims to move the entire weed supply chain and customer transactions away from cash. This means that instead of paying employees and suppliers with cash and accepting exclusively cash payments, businesses can accept Tokes tokens.
Unlike other cannabis cryptocurrencies which operate in a legal gray area, Tokes is KYC and AML compliant. In other words, the Tokes Platform follows Anti-Money Laundering rules and Know Your Customer financial guidelines to detect money laundering. Not only is Tokes aimed at streamlining businesses and decreasing costs, but it provides the security of a Financial Industry Regulatory Authority-compliant financial institution.
You can buy TKS, keep it in a Waves Wallet and spend it as currency at certain dispensaries. They’re currently working on an app that will let you look up information like strains and cost, locate dispensaries and buy weed with a click. In total, there will be 50 million TKS.
3. Paragon (PRG)
Unlike other cannabis cryptocurrencies, Paragon isn’t for buying weed. Instead, Paragon’s PRG token is focused on helping weed businesses grow.
ParagonSpace is a brand-new cannabis coworking space in Los Angeles. In order for cannabis businesses to pay rent, Paragon developed ParagonCoin (PRG). PRG is the only currency that ParagonSpace accepts, whether you’re buying snacks or leasing an office.
But PRG, with a total supply of 164,936,584, goes beyond ParagonSpace. Eventually, the company hopes that their Ethereum-based cryptocurrency will work for business to business and business to customer interactions.
Furthermore, the ParagonChain will provide smart contracts that cater to cannabis business transactions. This could mean anything from filling a doctor-issued medical marijuana to recording cannabis lab testing results.
ParagonCoin is still in its early days. However, they’re already building an all-encompassing cannabis business ecosystem with smart contracts, a coworking space, and cryptocurrency, all on the blockchain.
2. HempCoin (THC)
HempCoin (THC) isn’t just for cannabis. THC coin, which has a max supply of 300,000,000, is for the entire agriculture industry, from tobacco to cannabis and hemp. Specifically, HempCoin is the first weed cryptocurrency focused on farmers rather than weed consumers. Way back in 2014, HempCoin came into being to facilitate buying farming supplies in bulk.
Today, HempCoin is expanding. By 2019, HempCoin will introduce HempPay, a payment platform for buying weed from dispensaries. More specifically, HempPay will be an app, website and cryptocurrency credit card.
Today, you can trade THC on Bittrex and qTrade. Similar to Bitcoin’s 2017 spike, This weed cryptocurrency hit a record high market cap of almost $160 million in early 2018.
1. PotCoin (POT)
As far as cannabis cryptocurrencies go, PotCoin is the gold standard. This decentralized, PoS crypto became the first of many cannabis cryptocurrencies in 2014. Since then, they’ve introduced PotCoin ATMs in Colorado. POT’s max supply is 420 million.
Like Bitcoin’s and HempCoin’s trajectories, PotCoin’s market cap peaked at $90,097,520 on January 1, 2018. In June, PotCoin spiked again when pro-basketball player Dennis Rodman wore a PotCoin.com t-shirt to the US-North Korea summit. That day, PotCoin’s value went up 20%.
You can buy PotCoin on multiple exchanges including Bittrex, Changelly, PotcoinTrade, and PotWallet. With a market cap of well over $10 million, PotCoin is the highest valued weed cryptocurrency.
Get High On These Cannabis Cryptocurrencies
There are more than a few ways to invest in cannabis cryptocurrencies. You can run your cannabis business, store medical records and instantly accept payments on blockchain. And every day, it becomes easier to buy legal weed with cryptocurrency.
The cannabis industry has turned an obstacle into an opportunity. Cannabis businesses often cannot qualify for bank accounts or process credit card transactions. So instead of paying suppliers and processing transactions entirely in cash, cannabis businesses are using weed cryptocurrency.
Though blockchain will revolutionize industries across the globe, it has already made buying weed or starting a legal weed business easier than ever.