A fresh, but volatile and risky payment option.
Since Bitcoin was developed in 2009, it and other cryptocurrencies (altcoins) have become increasingly popular.
While cryptocurrencies do have benefits, they are far from ideal for businesses operating in the cannabis industry. For starters, government regulation and conflicting laws in the cannabis space make it difficult to implement a crypto-based payment system directly even with legal marijuana. Additionally, only a handful of your potential customer base owns any crypto to begin with. And, importantly, cryptocurrency can be highly volatile.
As an example, Bitcoin lost approximately 85% of its value within a month in 2017. Especially in a heavily regulated industry, it is near impossible to operate a business when the value of your primary currency is unpredictable from week to week.
We’re happy to show you our full payments solution and put the best bank-to-bank transfers to work for your business.