The HempCoin (THC) is a modern blockchain solution aiming to solve a key problem, banks in the United States are not accepting fiat currency for hemp transactions. This issue and its roots trace back to the Federal prohibition on hemp. Although hemp is now legal federally and on the state levels, across the board the battle is being fought in legislation. Strict regulations are being placed upon growers clearly showing the banks have remained cautious. There is now a decentralized way for consumers, businesses, & growers to transact.
HempCoin blockchain payment solution aims to end these problems, for 5 years it has been mission to serve as a payment solution for businesses in the agriculture, hemp, and tobacco industries. Consumers can easily purchase goods and services using THC, online and in person though businesses accepting The HempCoin.
Achievements include a massive 170-million-dollar market cap in January 2018, THC traded over 20 Million dollars per day, and it reached the top 100 on CoinMarketCap. THC is fully vetted by Bittrex for the SEC as a non premined fair coin, was among the first 30 coins ever created in 2014, is a vetted fair community coin, has a huge following with Brand Recognition higher than most in the industry, and is a community organically grown coin like Bitcoin.
HempCoin investment analysis
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.
HempCoin wallet works on your desktop or laptop and securely stores your THC until you are ready to use it. The HempCoin wallet consists of two elements – a private key and public address. Your private key is stored on your wallet.dat file and is needed to access your funds. If it falls into the wrong hands, it’s likely that the funds it contains will disappear forever. The public address is given to other HempCoin users in order to receive funds, and is generally provided as text or a QR code.
HempCoin wallets can be found here. Download the wallet suitable for your operating system. After the wallet has downloaded, run the hempcoin-qt file to install the wallet on your computer.
Tips for securely storing your HempCoin
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.