PotCoin presents a very interesting sort of blockchain technology that facilitates transactions within the legalized cannabis industry in the US and Canada. You can buy PotCoin on our website, BestRate.org. PotCoins can be sent directly from one person to another without any bank verification, which significantly lowers the fees. These coins can be used in any country and the users’ accounts can’t be frozen. PotCoin is designed specifically to be used by cannabis enthusiasts and let them interact, transact and communicate with each other.
The level of PotCoin network security is very high using state of the art encryption. It is open-source, so anyone can join the network and view the software code.
Also they offer quite fast multisig transactions with low fees.
In order to exchange Bitcoin to PotCoin, you need to set up a wallet for both of these currencies first.
For PotCoin, download the wallet from their official website:
For Bitcoin, we recommend to use the wallet named Jaxx for storing Bitcoin.
Set up Jaxx wallet on your PC
1. First, you need to install the Jaxx application on your PC. You can do it by the link below:
2. If you have multiple alternative currencies select the custom wallet:
3. Select the virtual currencies you possess:
4. Select the fiat currencies you possess:
5. On the next step, Jaxx will ask you if you want to backup your wallet. Agree, as this is very important in terms of security of your digital funds.
6. Jaxx will generate a mix of 12 words that are not related with each other, which makes it really difficult to remember. Write down this word set somewhere in a paper notebook or any other item that can’t be hacked via internet.
7. Type this word mix on the next step:
8. Then Jaxx will ask you if you want to set up a security PIN. Agree and proceed to the next step. Set up your 4-digit PIN-code and verify it:
That’s it, now you have a Jaxx wallet on your PC.
How to exchange BTC to POT
Choose the cryptocurrency that you currently have and want to exchange for PotCoin, type the amount.
Select the best PotCoin price for the cryptocurrency you want to exchange.
Type your PotCoin wallet address.
Copy the address created by bestrate.org.
After that the transaction will be processed, and you’ll be able to see its status.
How to sell PotCoin
If you want to sell PotCoin and buy some other cryptocurrency, first select the currency of your choice and put in the amount. Then repeat all the steps described above.
BestRate.io provides you with the best PotCoin exchange rates so that you could maximize your profits.
What is PotCoin
PotCoin is a new cryptocurrency, that is supported by one of the strongest market in the world. It was developed as the special currency for legalizing marijuana industry. The sphere of drugs distribution was one of the first to know about real value of cryptocurrencies, but the ordinary Ethereum and Bitcoin were not enough secure for this industry. As the marijuana is legal in several countries the leaders of this market decided to create their own cryptocurrency to evade banks and other third party members of transaction.
Here come the PotCoin with higher security then Bitcoin and with some core advantages for this market.
Advantages of using PotCoin
Legal marijuana industry has always needed a trustful banking. As the governments were strongly regulating this sphere and there were always restrictions from banks on some operations the PotCoin was created to fix this unfair situation. Its network provides decentralized banking solutions for any member of the industry. This should improve enterprise security and financial health of this organisations.
PotCoin is not only more secure than Bitcoin, it also supports faster transactions. It is based on the fork of Litecoin-QT but the block is shorter and the halving schedule is faster. It allows POT to be faster than average cryptocurrencies.
As the block is shorter and the number of transactions per minute is higher than in other blockchain networks, the commissions for this transactions are lower as well. It makes PotCoin more affordable for small enterprises and ordinary users.
POT is a token of PotCoin project. It is a kind of classic cryptoasset. It can be stored on wallets, bought and sold and transferred between other POT users directly.
You can also exchange POT coins for any other using special services, Exchanges. Or you can compare their prices between each other using aggregators like Bestrate.org.
Node is a computer, that has the full copy of the blockchain on its hard drive. It processes transactions and generates new coins as a transactions fee.
POT might be converted to USD. You can multiply the price of one POT by the total number of POT coins available, you will get a Market Capitalisation of the whole PotCoin network.
POT investment strategy
PotCoin is based on one of the strongest and biggest market in the world, legal drugs. This means that this coin will be valuable while this market exists. Due to the main advantages of this coin like transaction speed and low fees POT coin really looks like the right solution for such a specific market. You can buy some POT coins to add them to your investment portfolio and watch them grow along with the market of legal marijuana. If you believe in such a future, you will find it a great investment.
Where to keep POT
POT can be stored only on the online and desktop wallets developed by the PotCoin team. You can download clients for Android, Windows, Mac OSX and Linux and the iOS version is pending approval from the App Store and will be available soon.
How to transfer POT securely
POT is a crypto token and there will no be third party members to help you with your transaction. So to keep your coins safe we have prepared several advice for you.
Never type a wallet address manually
Always use only copy-paste operation to enter a wallet address. Any mistake can cause an error and let your money get lost in the network.
Look up the transaction fee
Any good wallet or an exchange platform will show you the transaction fee for your money transfer. Look for it anytime you send POT coins to anyone.
Double check the address
Make sure that the address of the recipient is correct and check it several times before sending off the sum, especially if you transfer big amounts of POT coins at a time.
Test before sending
Anytime you send huge amount of POT check the whole procedure on a small amount. When you will be sure that your partner has received the money, do the same thing with the rest of the asset.