Pot Coins Are Low Market Cap Altcoins Which May Appreciate Significantly

Pot CoinPot Coins are designed to make legal and medical marijuana transactions easier for buyer and seller. They are digital currencies for the cannabis industry.

Why not just use bitcoin instead? Bitcoin is already accepted at many medical marijuana dispensaries. Banks and credit card processors are hesitant to give marijuana shops merchant accounts. Most dispensaries are forced to deal in cash or bitcoin.

There are problems with bitcoin also. Coinbase and BitPay have refused to accept cannabis dispensaries as customers. Their problem is that cannabis, while legal in many states, is still illegal at the US Federal level.

US FinCEN has issued guidance which may ease the way for banks and US bitcoin exchanges to work with legal marijuana dispensaries.

Is There Room For Pot Altcoins As Well As Bitcoin in the Cannabis Industry?

We think there is, particulary in certain geographic markets and for those pot coins that are backed by physical cannabis. There are four pot coins worth consideration: PotCoin (POT), CannabisCoin (CANN), CannaCoin (CCN) and MaryJaneCoin (MaryJ).

PotCoin (POT)

PotCoin has the highest market cap at 1283 bitcoin and daily trading volume of 13 bitcoin. You can find more information at the PotCoin thread at BitcoinTalk.

PotCoin Price Chart

PotCoin presents the most polished website and lists 16 merchants already accepting PotCoin.

CannabisCoin (CANN)

CannabisCoin has a market capitalization of 1189 bitcoin and daily trading volume of 5 bitcoin. The coin has an active CannabisCoin thread at BitcoinTalk.

Cannabis Coin Price Chart

You can browse the CannabisCoin website for more information. The first dispensary to accept CannabisCoin is Herbal Wellness Center in Arizona USA.

CannaCoin (CCN)

CannaCoin has a market cap of 93 bitcoin and daily trading volume of 1 bitcoin. You can browse the CannaCoin thread at the Bitcoin Forum for more information.

CannaCoin Price Chart

The coin website is cannacoin.cc and also has a store selling vaporizers and cannabis accessories.

MaryJaneCoin (MaryJ)

MaryJane has the third highest market cap presently at 461 bitcoin and daily trading volume of 5 bitcoin. There is a dedicated MaryJaneCoin thread at BitcoinTalk. Please visit the Cryptsy Coin Voting page to vote to add MaryJ to Cryptsy!

MaryJaneCoin Price Chart

MaryJaneCoin has attracted publicity because it is the only pot coin other than CannabisCoin that claims each coin is backed by physical cannabis. Each MaryJ coin is claimed to be backed by one gram of “bubble” hash. The website is Mary Jane Coin and merchants in Colorado are already starting to accept the coin. The developers are in discussion with credit unions in Colorado to integrate with the banking system.

Conclusions

We think that bitcoin will be the primary crytocurrency accepted at cannabis dispensaries but in some areas pot altcoins may find niche markets. If we were going to invest in pot coins our tendency would be to buy PotCoin as it has the highest trading volume and most merchants on board.

We would also diversify with smaller positions in the other pot coins to spread risk. Pot coins like MaryJaneCoin and CannabisCoin are particularly intriguing as they are the only two coins backed by actual cannabis so price potential increase could be significant. Remember that investing in low market cap altcoins can be very rewarding if you pick a winner but also carries significant risk so do your own research before investing.

  • In the past 7 days MaryJane coin price has almost doubled. CannabisCoin is up 6% while PotCoin is down 7% and CannaCoin is down 20%.

  • Here’s a step by step guide to buying and storing Potcoin: https://buypotcoin.info/