This article shall elaborately discuss the Potcoin cryptocurrency and its origin. Moreover, we will also look at how and where to buy Potcoin and other relevant information. So let’s get started and explore the various aspects of Potcoin.
Table of contents
Summary (TL;DR)
- POT is a cryptocurrency that facilitates digital transactions in the cannabis industry.
- It is a decentralized, open-source platform with a proof-of-stake system.
- $POT is the native cryptocurrency of the PotCoin network.
- One can buy and trade potcoin over several cryptocurrency exchange platforms; however, the most prominent of them all is Bittrex.
- You can store POT in different wallets, including Ledger, Potcoin Android Wallet, etc.
- Mining POT was possible until 2015. However, it is now based on a proof-of-work system and is hence not minable.
- PotCoin has several salient features which make it a potential investment option.
What is PotCoin?
Potcoin is a digital currency that enables people to purchase and sell cannabis products without revealing their identities. The idea was conceived to facilitate transactions in the burgeoning of the legal cannabis industry. It came into existence in January 2014.
Potcoin is an effective solution to all the banking problems related to this trade as it brings marijuana business and consumers on a peer-to-peer platform.
Moreover, Potcoin is a decentralized peer-to-peer platform with an open-source infrastructure and proof-of-stake system.
What is POT?
POT is the native cryptocurrency of the Potcoin Network Ecosystem and Solutions. It is a global, borderless, digital currency. It gives you the ability to control your funds, and no third party or bank involvement is required. It is decentralized and open to everyone.
Where to buy Potcoin Cryptocurrency?
You can consider the following cryptocurrency exchange platform options to buy POT –
Decentralized Exchange platforms like ALT5Pro that would support trading POT will be coming soon.
Read our article- top 10 cryptocurrency exchange platforms for more in-depth knowledge on the same.
How to buy Potcoin cryptocurrency?
You can easily buy Potcoin crypto over the internet on your mobile devices, laptops, or PCs. Both the Android and iOS system supports it. Furthermore, various cryptocurrency exchange platforms facilitate the easy buying and selling of Potcoin.
How to buy Potcoin on Bittrex Global?
Bittrex is a US-based cryptocurrency exchange platform that was created in 2014. The key features of this platform, which sets it apart from others, include lightning-fast trade, best-in-class security, and reliable wallets. Moreover, their fee structure is worth taking a look at. If you think you are paying a high fee amount, read more about Bittrex Fees.
Follow these simple steps to buy POT in Bittrex-
- Register on the Bittrex platform and create your account.
- Complete your profile by providing the required information and complete the identification and verification process.
- Enable 2- FA (Two-factor authentication) to secure your account.
- Deposit funds into your Bittrex account. To begin the funding process, click on the “Wallet” tab and go to “Account Balances.”
- Select the cryptocurrency you want to deposit in your account and proceed further with the funding process.
- Start trading Potcoin crypto by clicking on the “Market” tab. Select POT.
- Click on “Buy” and fill out the form regarding amount/quantity and click on “Buy POT.” Confirm the transaction.
Please note that you can buy POT using BTC only.
Best Wallets to store POT
Given below are some of the best wallets to store your PotCoin cryptocurrency tokens-
- Ledger Nano X- Ledger Nano X is one of the most secure and highly recommended hardware wallets. It allows investors access to their private keys and is backed by the industry’s most recognizable brand. Furthermore, it supports around 107 cryptocurrencies, including Potcoin crypto and more than 1000 tokens.
- PotWallet- This is the official wallet of PotCoin, which ensures total control over their digital currency and complete security. Moreover, you can also earn interest on your money. Pot wallet is available on Windows, Linux, and Mac.
- Coinomi- Coinomi is one of the most trusted and oldest cryptocurrency wallets. Furthermore, it is a multi-platform and multi-chain cryptocurrency wallet. Moreover, it does not collect any personal information from the user, and complete privacy is maintained.
How to mine Potcoin?
Cryptocurrency mining is when groups of transactions known as blocks are verified and added to the blockchain. POT crypto was minable until 2015 when it was based on the Proof of work system. However, in 2015, it switched to the Proof of stake system. Therefore, PotCoin mining is not possible now. In addition, the participants can mine up to 5% interest on transaction history and PotCoin holdings in the renewed system.
Being a beginner you can start from the Top 7 profitable mining pools for beginners.
Is Potcoin Crypto a good investment?
PotCoin cryptocurrency has excellent potential, and some of the distinguishing features that promise a bright future for this cryptocurrency are –
- POT has high-level military-grade security, thereby ensuring utmost safety to your coins.
- Peer to peer network eliminates the chances of any third-party involvement.
- It is divisible up to eight decimal places; therefore, it enables you to purchase flexible amounts.
- Potcoin has devised several innovative solutions to the problems the industry has been battling since its inception.
However, any investment in PotCoin cryptocurrency should be based upon research that should be conducted, keeping in mind that POT price keeps changing. With proper investigation and research, one can surely reap the benefits and invest in PotCoin accordingly.
Buy Potcoin: Pros and Cons
Pros
- Potcoin addresses a real-world problem.
- It has stable market demand owing to a dedicated user base.
- Adopts an altruistic approach.
Cons
- Due to its inherent volatile prices, great risks are involved in investing in potcoin.
- It holds value to only those users associated with or interested in the cannabis industry, not to the entire population.
Buy Potcoin: Conclusion
POT was designed to facilitate easy digital transactions in the cannabis industry. It has seen its fair share of ups-downs and has emerged as a reasonably successful cryptocurrency that has solved the problems faced by the industry to a greater extent. However, potcoin’s price keeps fluctuating, so an informed decision should be made regarding investments. In addition, you can buy Potcoin crypto from the below exchange.
Frequently Asked Questions (FAQ)
What is POT price prediction?
Cryptocurrency price keeps changing daily; therefore, to stay updated with the latest PotCoin price, PotCoin graph, PotCoin price chart, refer to PotCoin Coinmarketcap. You can also stay updated by following PotCoin on Twitter.
What is the PotCoin faucet?
PotCoin faucets are apps or websites that give small amounts of Potcoins as rewards for completing some task. These can be profitable if used wisely.
How to stake Potcoin?
Follow the steps given below to stake POT-
1. Install the PotCoin Desktop QT wallet. Then, send your PotCoin tokens to this wallet.
2. Encrypt the Desktop QT wallet and remember the password. Then, unlock the wallet ‘for staking only,’ and enter the password.
3. The Desktop QT wallet will begin staking. Check for the little green staking arrow in the right corner at the bottom of the wallet.
