HempCoin is a decentralized payment option aimed at the marijuana industry. It's nowhere near the only option though, and investors should investigate all of these coins before making any investment decisions.
The marijuana industry has long been plagued by poor experiences with payment processors, but despite marijuana focused cryptocurrencies appearing as far back as 2014, they have failed to catch on with their target demographic for whatever reason. Likely due to the fact that cryptocurrency adoption as a whole had not yet progressed far enough yet.
Investors should be aware that THC will be experiencing a coin swap this year which will give its users access to a plethora of new features. This includes privacy features based on the Zercoin protocol, access to masternodes for holders with 50,000 coins, a governance system and a new budgeting and treasury initiative which will be self-funded by the new masternode protocol.
This is in addition to the HempPay platform which will allow for easier payment integrations for merchants. Keep reading to find out more about making a HempCoin investment.
There's only one exchange listing where investors can buy HempCoin, and that's troubling. While there is decent trading volume here, if the exchange decides to pull their listing for whatever reason, this asset will be without a home. A homeless cryptocurrency is bad news for holders who now have no way to trade their coins. Investors should be very careful, and there should be serious efforts on the developers part to seek out new exchanges. Bitcoin is the only trading pair here, and you'll need to use it to execute a trade.
It seems that there's only one wallet available for this coin, and that is a Windows installation package. Investors with Linux machines may be able to find a compatible wallet using the project's Github page, but Mac users are likely out of luck here, and they will need to utilize some type of emulator if they are interested in making an investment. After downloading the wallet installation package, make sure to encrypt your wallet with a strong password, and then create a back up of your wallet file in a safe place in the event that your machine becomes inoperable.