As legalization spreads, cannabis is rapidly becoming mainstream, but there’s still enough of a counter-culture vibe left to give cryptocurrency a certain appeal. If you’d like to thumb your nose at “the man” one last time, we’ll give you three great reasons why you should buy cannabis with bitcoins.
Banks won’t play nice with legal cannabis companies. And they don’t always play nice with you
Businesses are rapidly moving towards a cashless society with one notable exception: legal cannabis. According to federal law, these business owners are not entitled to a bank account and they can’t take credit or debit cards as payment.
The powers that be even recognize that having large amounts of cash floating around is a major risk to both personal safety and tax compliance, but they’re not doing much to fix the problem. Some dispensaries have installed cashless ATM machines to partially solve this problem, while others are looking to bitcoins.
Bitcoins are open source and not controlled by any one group or nation. So there’s nothing to stop cannabis companies from accepting them, especially as cryptocurrency gains momentum. Everyone from Microsoft and Dell to mom & pops like local coffee shops and pizza joints are beginning to take bitcoins.
Even if the government allows banks to work with cannabis businesses, why should we fork over our money to a greedy industry that’s crushed countless honest dispensary owners? Bitcoins have practically free to use, but credit card companies will tag on processing fees of 15% or more as long as cannabis products are considered high risk, and that cost will more than likely be passed on to us, the final consumer.
Bitcoins promote innovation in the cannabis industry
Weed smokers get a bad rap for being kind of dumb, but that outdated cliché is not even close to reality. Any group that can MacGyver a functional bowl out of a pack of Starburst fruit chews deserves an A+ in creativity. Because of their distinct lack of government control and newness,the option to buy cannabis with Bitcoins appeals to many members of the cannabis community, especially the younger, tech-savvy generation.
Here are two cannabis companies who’ve attracted a lot of attention in the bitcoin world.
Mikko Ohtamaa, founder of eBay-like localbitcoins.com, and his business partner Marshall Hayner have created a new marijuana marketing and delivery start-up called Trees. Not only do they accept bitcoins for anything they sell through their app, they’ll give you 40% off and bring it right to your door.
This service is only available in San Francisco right now, but as legalization spreads, they plan to become a canna-centric version of Uber meets Amazon complete with drone deliveries.
Back in the 80s, we were amazed that the Japanese could buy beer from vending machines, but they don’t have a thing on what’s being placed in dispensaries in Colorado and Washington State. ZaZZZ machines will check your ID, verify your medical marijuana status if needed and accept bitcoins as payment. Then, these babies will chuck out some fine medibles in Colorado or top-shelf bud in Seattle faster than a Snicker’s bar.
Gorilla Seeds will give you 20% off to buy cannabis with Bitcoins
This UK-based seed company loves bitcoins so much that they’ll give you 20% off all the cannabis seeds you order when you pay with cryptocurrency. Plus they’ll toss in up to 9 extra free seeds on top of the ones you pay for.
It’s extremely expensive for cannabis companies to process card payments so they’re passing the savings on to you while still providing a near-instant payment method to entice you to buy from them instead of one of their competitors.
Because buying cannabis seeds online is still a bit of a gray area, paying with bitcoins is one of the few completely secure but mostly anonymous methods of online payment. The blockchain is secure, so as long as you protect your wallet, your funds are safe, and no one’s going to track this transaction back to your offline identity.
There are zero worries about identity theft or anyone stealing your credit card number. Plus, no one’s going to tell you that you’re not authorized to make an international payment like credit card companies can and often do.
If you’ve never used bitcoins before, Gorilla Seeds has a page that’ll explain everything required to buy cannabis seeds with bitcoins, and their customer service team will help you out if you get stuck. It’s an easy way to get started if you’re in the market for some new genetics. They’ve got it down to a science.
Would you buy cannabis with bitcoins? Let us know on social media or in the comments below.