Legalized marijuana was one of the industries which embraced cryptocurrencies early. One of the reasons for that was the early refusal of banks to service otherwise fully compliant medical marijuana businesses back in 2014.

Now, Cannabis Coin (CANN) is just one of the digital assets showing the results of cannabis companies moving into crypto coins. CANN has sunk from the recent peaks above $0.20, but the hype for this asset and the underlying company is not receding.
So-called pot coins are a subset of digital assets that have their own fan base, different from the more tech-centric crowd around some Ethereum projects. But lately, pot coins have seen more active trading, and some are relatively old and well-represented assets that are now enjoying the altcoin boom.
Others, like Marijuanacoin (MAR) are way more volatile and risky. In the case of MAR, this is due to the limited and volatile trading on Cryptopia. MAR trades around 24 cents after falling by 50% from the recent peak around $0.48.
HempCoin (THC) has also fallen in a sharp correction toward $0.25 from a peak above $0.60.
For now, the so-called pot coins are still in recovery after peaking and falling. But every time the price grows, their social media profile improves on the exposure.

Are Marijuana Coins a Sound Investment?

Unfortunately, existing marijuana-related digital assets, as well as upcoming coins, are a very risky proposition. Usually, the coins are related to an OTC-traded company, which is also seeing stock speculation.
Marijuana coins are mostly related to a form of the medical marijuana business, with the other business model being hydroponics equipment. Other companies boast of acquiring plots of land.
However, sifting out the real businesses from those without a chance of surviving is risky.
Bolbhai

Bolbhai

I have been a developer for last five years working experience in different technology, apart from this I loved traveling, blogging and exploring the crypto world.

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