Marijuana Industry Gets a Cryptocurrency: PotCoin

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In the booming legal marijuana industry, as well as the already popular black market for marijuana, cash is king, but unfortunately, like many other cash businesses that have high sales volumes (see what I did there), it can be an attractive target for would-be thieves. And the stakes can indeed be high, as a marijuana dispensary could take in as much as $300,000 on a good day, which is quite a chunk of change to keep on hand.

But a new cryptocurrency designed to make marijuana transactions more secure, as well as to take cash out of the equation, may change all of that. PotCoin is the appropriately named virtual currency, and while it’s still brand new to the cryptocurrency market, it’s already seeing adoption in the weed industry.

“PotCoin was designed to empower, secure and facilitate the Cannabis community’s daily transactions. Our now legalized Marijuana industry called out for its own distinct cryptocurrency – PotCoin effectively satisfies this demand and forms a global community with each coin holder a participant anchored in this new economy.

On every level of the Cannabis, Hemp and financial industries our users and supporters can entrust PotCoin to extend credibility, stability and security to this exponentially growing market and community.” – Potcoin

PotCoin is akin to Bitcoin, arguably the most well known cryptocurrency, in that users need to have a digital wallet to keep it in, and can be either received via a purchaser, traded for on a virtual currency exchange, or mined with a computer. The current value of PotCoin is $0.0063 POT per $1 USD, and in Bitcoin the rate is BTC 0.00001205.

Get started with this cryptocurrency, or learn more about it, at the PotCoin website.

About the Author

lives in southwestern New Mexico and digs bicycles, simple living, organic gardening, sustainable lifestyle design, slacklining, bouldering, and permaculture. He loves good food, with fresh roasted chiles at the top of his list of favorites. Catch up with Derek on Twitter, RebelMouse, Google+, or at his natural parenting site, Natural Papa!