A special report on PotCoin, a cryptocurrency that is becoming widely popular at the intersection of the cryptocurrency and marijuana markets and saw a 50 percent jump in price across crypto exchanges yesterday (POT crypto ticker).
Cannabis cryptocurrencies have become one of the biggest factors in how marijuana businesses are modeling their current and future financial transactions. Marijuana legalization has all but become an accepted fact at the nationwide level, with the question now not being whether it will happen but when. However, with marijuana still being illegal in some other states, legal marijuana transactions will continue to be very difficult through the foreseeable future. Now cryptocurrencies have taken center stage to provide a solution which could impact billions of dollars in marijuana transactions over the next five year period.
Specifically the events of the last few months have shown that PotCoin (POT) has emerged as a clear choice to be the foundational cryptocurrency for the marijuana industry.
What Is PotCoin?
The rise of PotCoin as the digital currency for legal marijuana market started in early 2014 at the same time that retail stores for marijuana opened in Colorado. There was even one ATM marijuana dispensary that was linked to the particular cryptocurrency.
The PotCoin cannabis cryptocurrency was arguably the first established cryptocurrency made for the marijuana market. It is a community-based effort that is making an entirely decentralized autonomous organization. The community members of PotCoin determine their involvement, their commitment, as well as their development.
The arrival of PotCoin has been heralded in the news, and dozens of business’s have already adapted the cryptocurrency for real world application . Earlier this year in 2017, it came back on top of the cryptocurrencies for marijuana industry after the news of it funding Dennis Rodman, an NBA star, into North Korea.
This, along with news earlier this month that PotCoin will now be accepted at over 800 GeneralBytes ATM’s, has created arguably the largest positive momentum push in the crypto coin’s history and that rally shows no signs off letting up as the end of 2017 approaches.
How Does PotCoin Work?
Marijuana transactions using PotCoin are extremely anonymous. The currency is transferred from person to person directly using the internet and without having to go through a clearinghouse or a bank. Sending and receiving PotCoin is also as easy as using emails. Making transactions directly between buyers and sellers even makes the fees much lower.
PotCoins are generally kept in a digital wallet that can either be on the user’s mobile device or computer.
Anyone is allowed to join the PotCoin network. This currency for the marijuana industry is made secure by several thousands of computers with top-of-the-line encryption.
As PotCoin continues to carve out it’s dominance within marijuana cryptocurrencies, it’s price and support within the crypto community continue to rise at an exponential pace.
NOTE: This article is not an investment advice. The content posted here is the opinions of the writers and don’t constitute trading advice.