How Cryptocurrency And CBD Industries Go Hand In Hand
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There are two industries that have grown seemingly out of nowhere and taken the world by storm. Namely, cryptocurrency and CBD. both have roots in the counterculture that is suddenly more mainstream and attracting a lot of interest.
Cryptocurrency is simply digital encryption that functions as a type of currency. It isn’t actually real, but since so much of our so-called regular money is moved around from computer to computer it essentially functions the same way. CBD is cannabidiol that is extracted from the hemp plant and is used as a cure-all for everything from headaches, to anxiety and pain relief without the psychotropic effects of marijuana.
With so much attention being generated on the two topics it makes sense that they would intertwine at some point. In this article, we will explore how they are related and what you need to know about them.
Even though CBD is not a psychotropic drug, it is still not legal everywhere. And where it is legal, it has only recently become so. This puts people who want to sell CBD products in a predicament. Finding payment processors is not always easy as some shy away from these types of products.
This is where the promise of cryptocurrency works well. Since there is no bank that decides what a product does or doesn’t do, there is nobody that decides that they don’t like a certain product. This is why many CBD businesses are happy to accept cryptocurrency as a form of payment.
People that know how to buy Bitcoin using PayPal can get as much cryptocurrency as they need to make a purchase of CBD or anything else they like.
Great time to invest
It is very rare to be around during the advent of two major innovations that disrupt industries. It is during the beginning phase of an industry when it is an ideal time to invest. There is room for lots of growth as these two industries are in their infancy.
Since the mantra of investing is always to buy low and sell high, this is the time to do so. There is a risk, however as there are always going to be companies that aren’t able to keep up with the changes and fail, so try to make your investment wisely.
Think about how the internet-based companies failed around the late 1990s dot-com bubble and you get an idea of how it is risky. However, if you were one of the people that stuck with Amazon in those early days you are likely a millionaire now.
They attract entrepreneurs
CBD and cryptocurrency are in the Wild West phase of growth which attracts a lot of people that have an entrepreneurial spirit. When this happens, innovation happens quickly. Expect to see a lot of growth as people are able to find various ways to make even more money out of these industries.
Wherever there is money to be made, these entrepreneurs are the ones that drive the growth as they can see opportunities that others might miss.
*This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.