PotCoin – The Cannabis Industry’s Cryptocurrency

PotCoin – The Cannabis Industry’s Cryptocurrency

Potcoin is, in my opinion, the cannabis industry’s very own version of bitcoin – using the blockchain technology that cryptocurrencies like bitcoin are based on. The main use of the currency has been to bypass the banks who are refusing to provide cannabis dispensaries with the same financial services that other legal businesses are accustomed to – like holding money. These policies by the big financial institutions have left cannabis businesses vulnerable to opportunist armed thieves, needing heavy security to hold the large sums of cash generated at weed shops

Rivals

Potcoin, having been up against a few other cannabis themed cryptocurrencies early on in it’s life, has emerged as one of the leaders in becoming an industry standard digital payment method. The other cannabis based crypto currencies never really caught up with the spread of Potcoin and have slowly faded into the background. Potcoin has been adopted as the main cryptocurrency (or altcoin) by a vast number of cannabis industry vendors – even over more mainstream currencies like BitCoin, Dash, Etherum , Litecoin etc

Dash is seeking to do the same job for dispensaries as Potcoin so is there room for both? I’m guessing yes, with room for a few more altcoin. When you consider that most Potcoin owners are from the wider cannabis community and many businesses accept it then you can only assume it will be here to stay, albeit among others

Privacy

If privacy is a concern for you – Potcoin, like other cryptocurrencies allows for you to remain anonymous when purchasing cannabis industry products and services as there is no personal details needed to own a wallet –  *some websites offering wallets may require personal details*  You can keep your anonymity if you need to as you can make as many different wallet addresses as you like

Potcoin Wallets

You can own a wallet on your computer and other devices or have an online website hold it for you…or both. Having your own wallet on your computer has some great advantages over online wallets. One being that Potcoin wallets can be moved to a portable hard drive for safe keeping. The other one is that keeping Potcoin in a wallet on your computer or other devices means your Potcoin isn’t vulnerable to being stolen or disappearing from the online wallets provided by websites who could come under attack from hackers. The other great advantage to having the Potcoin wallet running from your computer or device is that you can yield a 5% annual return on your Potcoin just by being a node on the network, which helps speed up the network and transactions, I like that part!


Here’s a brief introduction video on Potcoin, produced by PotWallet.com where you can download the PotCoin Wallet to keep on your computer or portable device or you can use one of their online wallets – Recommended if you’re a technophobe

What is Potcoin? – Digital Currency for the Cannabis Industry

“PotCoin www.Potcoin.com was designed to empower, secure and facilitate the legal cannabis community’s transactions by creating a unique crypto currency for this thriving industry. PotCoin removes the need for cash transactions and encourages buying through consumer incentives. On every level of the cannabis industry, users and supporters can entrust PotCoin to extend credibility, stability and security to this growing market” – Potwallet.com

I encourage all of the cannabis family to research the currency as well as the many other good cryptos out there. Potcoin is my first choice if my vendor accepts it as payment because I feel like it is ours – the cannabis community’s to use and value. The idea is that the more people who buy and use PotCoin the more the currency is worth and the more stable it becomes. Beware though, if you are trying to make some money through trading it remember that cryptocurrencies are volatile so can change in value very quickly. If you are taking the leap to buy and hold Potcoin for the long haul in a hope that the value increases then only gamble with a small amount of money, small enough that you won’t miss it if its lost, All currencies fluxuate in price so are a gamble, crypto is just a  much bigger gamble with much bigger losses and gains to be had. Please do lots of research if your intention is to trade any crypto


You can get Potcoin and learn more about it through the links below:

PotCoin Official Website – http://www.Potcoin.com

PotWallet – Potcoin Wallet & Trading Platform – http://www.PotWallet.com

PotCoin Community Forums & Discussions – http://www.reddit.com/r/potcoin/

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