Wall street investors are shouting from the roof tops with their Pot Stock recommendations.
Are they overlooking these 4 pot cryptocurrencies?
With both crypto and pot buzzing in the investment community!
We dug in to find out how to capitalize on both pot and crypto.
Why Pot?
Recreational marijuana is being legalized in more and more US states but a sleeping giant is about to awaken when Canada legalizes it to their entire country. According to the NY Times that may happen as soon as July 2018.
Why Crypto?
Cmon! We don't need to answer that question!
Marijuana Coin List On CoinCheckUP
For starters, here is a list of cryptos in the Marijuana category on CoinCheckUp. The CoinCheckUp website is a great resource for researching cryptos by category!
Our Top 4 Picks
These 4 hemp industry cryptos stand out from the dozen coins in their category due to various factors including development status, branding, use case, and community engagement.
#4 Pick: Growers International
Growers International Website
Growers International Twitter
Use Case:
This coin has a lot of use cases under development including block-chain based seed to sale tracking, cannabis strain genome tracking, smart grow contracts, and a platform for cannabis eCommerce.
Available On Exchange Since August 2017:
Cryptopia
Whitepaper:
Available on their website. They call it the Green Paper!
Community:
They currently have the smallest community out of all 4 picks with 5K twitter followers.
Investment Performance:
Their trading volume is very low and performance wise is sitting at a 90% gain in the last 90 days.
Circulating Supply:
1,176,261
Marketcap:
$2.2m
Why It's On The List:
We chose Growers International to be on our list for several reasons. Low circulating coin supply and a variety of use cases.
The use case that makes them stand out in their category is the Block-Chain based data tracking from seed to sale. Government regulations are tough on tracking every aspect of marijuana to prevent black market growers and sales distribution. If Growers International does a good job developing the tracking system and beats others to market with the technology there is a high probability this coin has incredible gains.
#3 Pick: HempCoin
HempCoin Website
HempCoin Twitter
Use Case:
HempCoin is developing a digital payment solution called HempPAY, for the cannabis and agricultural industries. Their approach with HempPAY is to provide 3 methods of cryptocurrency payment including Mobile Payments, Debit Style Card, and Online Payments integrating with eCommerce platforms such as Woo Commerce and Magento.
HempCoin is also planning a hardfork in their existing cryptocurrency blockchain to create an anonymous, privacy based currency.
Available On Exchange Since April 2014:
Bittrex
Whitepaper:
Available on their website.
Community:
They currently have the largest community out of all 4 picks with 64K twitter followers.
Investment Performance:
HempCoin (THC) hit the exchange well under $.01 and has been as high as $.56 for well over 100X gains.
Circulating Supply:
230,478,760
Marketcap:
$29m
Why It's On The List:
We chose HempCoin because it has been around since 2014, has the largest community of followers in its sector, and it has performed extremely well for early investors.
HempCoin still has tons of room to grow. It recently pulled back from all time highs in the $.60 range to $.12 during the early 2018 Bitcoin correction.
#2 Pick: PotCoin
PotCoin Website
PotCoin Twitter
Use Case:
PotCoin is competing with Hempcoin in the marijuana payment processing space but is also developing a rewards system for dispensaries. Their slogan Banking For The Cannabis Industry pretty much sums it up.
Available On Exchange Since May 2014:
Available at multiple exchanges including Bittrex, Poloniex, Cryptopia, BlueTrade, and CoinExchange.
Whitepaper:
We didn't find a whitepaper but they have a lot of information including the roadmap on their website.
Community:
PotCoin currently has 31K twitter followers.
Investment Performance:
PotCoin (THC) hit the exchange well under $.01 and has been as high as $.40. Similar to HempCoin it has also had incredible gains.
Circulating Supply:
219,463,982
Marketcap:
$36m
Why It's On The List:
PotCoin made the #2 spot because it has been around for a while, is on a good number of exchanges, and we constantly see improvements and updates on the project.
PotCoin definitely has the makings of a long term player in it's particular niche.
#1 Pick: Paragon
Paragon Website
ParagonTwitter
Use Case:
Paragon has a HUGE vision! They already have a working product consisting of a Medical Marijuana Doctor Database. Their ultimate goal is to integrate the Paragon Block-Chain with all aspects of the cannabis industry including smart contracts that verify prescriptions, ID's, logistics between supplier and dispensary, as well as product and regulatory compliance. We encourage you to review their whitepaper as their MO is quite comprehensive.
Available On Exchange Since NOV 2017:
Available at HitBTC and LiveCoin
Whitepaper:
Available on their website.
Community:
Paragon currently has 4K twitter followers.
Investment Performance:
Paragon (PRG) hit the exchange close to the $2.00 range and as of now, approximately 4 months later is down to $.26. It is not uncommon to see newly released cryptos drop in value shortly after they hit the exchange. In this case, now might be the perfect opportunity to add Paragon to the portfolio.
Circulating Supply:
64,936,612
Marketcap:
$17m
Why It's On The List:
Paragon has an enormous vision which brings with it enormous potential. Whether they can deliver or not remains to be seen. They made the #1 spot on this list because of the team behind the vision. They are sporting a large team with an above average advisory staff.
If you found value in this post or have questions please comment below!