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A fresh, but volatile and risky payment option.
Since Bitcoin was developed in 2009, it and other cryptocurrencies (altcoins) have become increasingly popular. The industry continues to be regulated as you can expect to be scrutinized if you were to accept any form of cryptocurrency payment method.
While cryptocurrencies do have benefits, they are far from ideal for businesses operating in the cannabis industry. Only a handful of your potential customer base owns any crypto and it can be difficult to help your customers set up their crypto accounts.
At the same time, crypto can be extremely volatile. Bitcoin lost approximately 85% of its value within a month in 2017 and 70% so far since 2021 highs. Volatile price fluctuations can become a risk and difficult to manage if you're always converting between currencies.
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