Seedsman Blog
Bitcoin and Cannabis

Why Bitcoin and Cannabis are the Perfect Match

2018 is an exciting year for both the Bitcoin and Cannabis industries.

The former’s gradual societal acceptance combined with its increased accessibility means that its market value is at an all-time high and is only set to continue on an upward trajectory over the coming 12 months.

And while the cannabis industry has taken a somewhat more circuitous journey to reach its current market value, it is nonetheless on the up, due in no small part to California’s new recreational laws and Canada’s projected move to an unreservedly legal marijuana market.

With the upwardly escalating parallels of both aforementioned markets, a mutually beneficial alliance is steadily blooming.

Cannabis is still illegal on a federal level in the United States, meaning that most national banks are recalcitrant, refusing to become mired in a ‘controversial’ industry.

Attorney General Jeff Sessions and his wholly obdurate stance on recreational cannabis means that these banks are unlikely to change their stance over the next few years, or certainly until the end of the Trump Administration.

Merchant services are also unavailable to the cannabis industry for the most part, meaning that local dispensaries generally run cash-only operations.

Therefore, it is no surprise to see a budding fraternity between the cannabis industry and cryptocurrencies, particularly Bitcoin.

Bitcoin offers both the retailer and the customer with a viable, safe, anonymous and secure way to make transactions with an industry unique in its struggles with both the federal government and mainstream financial markets.

We believe that Bitcoin and Cannabis markets will work closely together for the foreseeable future. It is for this reason that Seedsman now recommends Bitcoin as a method of payment.

We offer guided assistance to anyone looking to set up a Bitcoin account. It takes less than 15 minutes to set up and once completed, can be used at anytime to make payments using Bitcoin online. 

 

Seedsman

With an international team of writers and over a decade of experience in the industry, Seedsman aim to bring you the very latest in Cannabis news from across the globe.

Join Newsletter

Buy Seeds