What is HempCoin (THC)?
Future of THC Cryptocurrency and know how to buy THC

#1 – What is HempCoin?

HempCoin – The Basics

HempCoin is a cryptocurrency developed specifically to provide liquidity to the agricultural and farming sector. It serves as a platform for global transactions between farmers and distributors across the world. The central purpose of this decentralized payment platform is to support the trillion-dollar agriculture industry worldwide, with a special focus on Marijuana and Hemp.

HempCoin Development

  1. Of the 30 cryptocurrencies first developed in 2014, HempCoin was one of the Bitcoin-sourced cryptos developed for industries like agriculture and marijuana farming.
  2. In 2017 Q4, the coin expanded its utility across other industries such as tobacco and global medicinal agriculture.
  3. Tim Renzetti, the current CEO of the company, is credited for the creation of HempCoin.

 

#2 – What are the benefits of HempCoin?

HempCoin Technology

  1. HempCoin operates on masternodes. With a minimum fund of 50,000 THC, users can avail additional security, privacy and transaction options through masternodes. The users' fund will act as collateral for the masternode owners, ensuring that there is no compromise in the process.
  2. The platform uses Proof-of-Stake (PoS) mechanism to distribute rewards among its users. You can stake your THC coins via online wallets. The staking process will take place on its own when the wallet is unlocked and online.
  3. It functions with hard forks. A hard fork changes a crypto coin’s existing code and splits it into two versions. By forking off a coin, the protocol validates the previously invalid blocks in the blockchain.
  4. It also employs the Point-of-Sale system integration along with a peer-to-peer network for transactions made via HempPay. By integrating merchant processing software with the HempPay system, the platform offers point-of-sale transactions like that of credit cards. Masternodes enable instant peer-to-peer transactions.

Features

  1. PrivateSend: This feature ensures complete transactional privacy, right from the origin of the funds. HempCoin uses a unique protocol to merge the inputs of one user with that of two other users to make all the transactions untraceable.
  2. InstantSend: Without any role of a central authority, HempCoin allows instant payments using its point-of-sale system. It works the same way as a credit card.
  3. Governance: As a decentralized project, HempCoin gives a voting right to every masternode owners. All decisions related to governance are taken through votes.
  4. Budgeting: HempCoin’s budget is funded through the masternodes and used for compensating contributors working for the project.

Corporate Usage

  1. One of the primary uses of HempCoin is for the agriculture and farming sector. It aims to address the challenges faced by farmers, importers and exporters in terms of currency conversion and monetary transactions.
  2. HempCoin promotes its use for other industries such as the Legal Cannabis industry. With the increase in the legal and medicinal use of marijuana, the industry has been in a phase of a boom. HempCoin comes in as a cryptocurrency that facilitates the purchase of Cannabis and Marijuana.
  3. Hemp is an important agricultural product with multiple uses. It is cultivated in 30 countries across the world with a growing industry. HempCoin offers transactional services for the Hemp industry. The tobacco industry is also a target market for the cryptocurrency.

 

#3 – How to buy and store THC?

How to buy THC

THC is available for purchase on exchanges like CoinGecko, CoinCodex, and Bittrex.

  1. CoinSwitch, as the largest cryptocurrency conversion platform, offers you to exchange your cryptocurrency for THC. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your HempCoin cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

The THC coins are ERC-20 compliant and can be stored in any ETH wallet like MyEtherWallet. Other storage options include hardware wallets like Ledger Nano S and Trezor. Exodus and Jaxx are also the storage wallets for THC.

 

#4 – What is the future of HempCoin?

HempCoin came into existence in 2014 and has grown significantly over the period of 4 years. It has a well-stipulated roadmap for 2018.

  1. The goals for the first quarter were the creation of an official website along with community expansion. It also aimed at increasing the availability for THC masterndoes and developing Scout Dispensaries to function with HempPay. This quarter also involved developments on making THC coins manually purchasable.
  2. The second quarter focused on implementing a system of governance with voting rights distribution. The development of the HempPay Card was also initiated during this phase. Listing THC on major crypto exchange platforms was one of the goals.
  3. The third quarter is aimed at creating a global brand awareness drive for the uses of HempCoin. It will also seek to improve the coding base of the platform. The HempPay Card is expected to come into implementation in this phase.
  4. The fourth quarter is centred on exploring the use of HempCoin for indoor agriculture while simultaneously expanding the coin’s usage in the agricultural industry. It will also commence the development of dispensaries for the use of THC coins.

Also Read: Complete Analysis of HempCoin | Live HempCoin (THC) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.055570

0.055969

0.051203

0.053940

40,108

12,807,700

June 01, 2018

0.068324

0.068723

0.063432

0.066401

58,315

15,747,200

May 01, 2018

0.108118

0.114527

0.103049

0.110529

140,842

24,918,800

Mar 01, 2018

0.105831

0.135654

0.104280

0.123529

403,628

24,391,800

Dec 01, 2017

0.023783

0.031591

0.022326

0.029849

956,399

5,460,190

Aug 01, 2017

0.006526

0.007260

0.005587

0.006688

22,794

1,462,110

 

#5 – How is HempCoin different from other cryptos?

HempCoin serves the cryptocurrency needs of a niche market. Several features distinguish HempCoin from its competitors like PotCoin and DopeCoin.

  1. HempPay is its trademarked payment option developed to encourage adoption among mainstream users. The payment platform is available on phone, desktop, and card for facilitating transactions through THC.
  2. HempPay is establishing partnerships with online gateways and popular e-commerce destinations to promote itself as a payment option.
  3. A characteristic unique to HempCoin is The HempCoin Ambassadors program. The project deploys ambassadors across the world to host local meetups and promote HempCoin via both online and offline avenues.

 

#6 – Should you invest in HempCoin?

  1. Catering to a niche market, especially an expanding one, gives much weight to the HempCoin cryptocurrency. But the competition that THC faces in its field is challenging for its mass adoption.
  2. HempCoin has launched several features to overcome the major players. The HempPay facility available on mobile, desktop and card can give it an edge over its competitors. Its ambassador programme is also contributing to its popularization among the masses.
  3. THC coin has hardly shown any huge price plunge in the four years of its launch. Its market capitalization as of July 2018 is $19 million USD. It is a viable investment option.
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