Thursday, August 11, 2022

Why Are CBD And Kratom Vendors Switching to Cryptocurrency?

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It’s no doubt that CBD and Kratom have become hugely popular over the years, with the alternative medicine industry booming. However, even with its massive growth, the banking industry has been closing accounts linked to Kratom and CBDfx pills vendors.

So don’t be surprised when you’re not able to purchase Kratom or CBD using normal payment means. It’s nobody’s fault. Most credit card companies and processors don’t allow Kratom or CBD payments because they might fall into the illegal or high-risk category in some locations. And that’s why it has become the perfect timing for CBD and Kratom vendors to switch to BTC, Ripple, and other ascending cryptocurrencies. Yet, there have been several conflicting views about cryptocurrencies. No doubt, some of these views have changed over the years. But there’s more to the story.

The Appeal of Cryptocurrency to CBD and Kratom Vendors

First of all, remember that it’s not the product itself that’s a high risk, but the specific industry. Here’s why. You probably know that Kratom is a tree found in Southeast Asia, particularly Indonesia, with opioid properties. About 15 million U.S. citizens use the product for:

  • Mental health issues
  • Chronic pain
  • Drug addiction management
  • Depression

So far, there’s no scientific proof of deaths related to Kratom overdose. As for Cannabis, it became legal nationwide in December 2018, according to The Hemp & CBD Herald. It has numerous benefits, such as fighting against COPD, PTSD, anxiety, etc. But the reason for its restriction is that most of the industries surrounding these products are not regulated. Kratom may not be under the scam label, but it makes the credit card companies suspicious. That is why cryptocurrency is the best choice. So if you want to purchase a red bali kratom from bulkkratomnow.com, you may want to consider Bitcoin.

The Connections Between the Two Industries

The CBD and Kratom industries and the Bitcoin industry have a lot in common than you think. If you remember, a few years back, many people looked down on cryptocurrency. Though it’s safe, some people are still concerned about its safety. CBD and Kratom industry also face the same disapproval. But still people search for kratom near me and looking to purchase them with cryptocurrency. You can find both substances almost everywhere, and they require a little knowledge before you can utilize them effectively. That means you’ll need to consult an expert before consuming CBD or Kratom. In the same way, you’ll need to understand what cryptocurrency entails before you venture into it.

Why Cryptocurrency

If you’re new to cryptocurrency, it might look like what you see in futuristic movies. But it’s a highly accurate and viable payment method. Most Kratom vendors prefer this method of payment, and there are a few reasons for that:

A Tax-Friendly Medium

When you make payments through conventional means such as banks, you incur every tax that comes with it. But with cryptocurrency, you can escape some of them. You also don’t have to worry about country tax, that is, if you send it from one country to another. Cryptocurrency is one of the fastest ways to send money to any part of the world with an internet connection.

Photo by Tree of Life Seeds from Pexels

Control of Funds

With cryptocurrency, you have complete autonomy of your wallet without having to worry about the interference of any third-party institutions. Charges and other fees are things of the past because you’re in control of your funds, not the banks. That means you can access your account anytime you want. Some platforms can keep your digital coins for you, such as Coinbase, BitPay, and Bitcoin ATMs. You can retrieve your funds any time you want. It’s much more comfortable and better compared to various conventional means. For example, the banks have all your details and information on what you purchase. The cryptocurrency only shows the name of the buyer and shipping address. That makes it more secure.

Very Transparent

One of the appealing aspects of the cryptocurrency is the 100% transparency of all transactions. So you might have heard of the frequent hacking of banks and other traditional financial institutions. Cryptocurrency offers an alternative that’s more transparent such that all information is stored in a way that it can’t be changed without the record of the changes. Also, there’s quick verification because the blockchain (an online ledger) can send transactions to every computer. The level of transparency increases when people can verify the transactions as quickly as possible.

Multi-faceted Investment Medium

Aside from the transparency and swift payments, Kratom and CBD vendors are switching because it’s another place to invest. You can trade in cryptocurrencies and increase your income. And since there are Bitcoin ATMs, it’s easy to redraw your Bitcoin in USD and vice versa. It gives you the comfortability to trade while keeping your income secured.

Conclusion

The decision for CBD and Kratom vendors to change to cryptocurrency is not solely on their initiative. The vendors would prefer to use credit card payments, but the credit card companies do not allow that to happen. And that has caused another opportunity to emerge, which can be helpful for both the vendor and the customer. You can quickly master cryptocurrency and buy Bitcoin once you dive deeper into it. If you’re not a fan of blockchain technology, you can use other means such as eChecks and money orders. These methods may not be faster as a cryptocurrency, but you can still try it out. Among the three, cryptocurrency is the best option to take.

RELATED:  Top 10 Differences Between Kava and Kratom, You Need to Consider Before Investing

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