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How to Pay for Products With BitCanna at Royal Queen Seeds
BitCanna is the answer to the financial hurdles plaguing the cannabis industry. This safe and scalable payment solution cuts banks, credit card companies, and other payment services out of the equation—institutions that still refuse to handle legal transactions within the industry. At the heart of the BitCanna platform is the BitCanna Coin BCNA, which can be used as a reliable payment method. Below, we’ll show you how to use BitCanna to pay for your purchases at the Royal Queen Seeds webstore.
Have you swapped your coins yet!? BitCanna moved over to a new and improved blockchain network on September 30th. With this change came new coins! If you purchased coins before September 30th, you need to head to this guide to swap them.
How to Pay With BitCanna at Royal Queen Seeds
- The Keplr browser extension → To send, receive, and store BCNA, you need a digital wallet. Keplr serves as the digital wallet for all Comos-SDK blockchains. The extension works best with Chrome, though you can use it with the Brave browser with limited features.
- BitCanna Coin (BCNA) → The currency used to make payments.
Important Facts About Paying With BCNA at RQS
- You can buy as many BCNA coins as you want. Any coins you have left over after making a purchase can be stored in your BitCanna wallet for future use. Just know that the value of BCNA is subject to fluctuation. This means that at a later date, your coins may be worth more or less.
- Chances are, you already have a cryptocurrency wallet and hold a diverse portfolio. However, if you don’t yet own any cryptocurrency, you’ll need to set up and verify an account on a trading platform such as Coinmerce.
How to pay with Bitcanna (PDF Guide)
Backing Up Your Wallet
Nobody else but you has access to your BitCanna wallet(s). To keep your BitCanna wallet safe and secure, it is important to store your passwords and backups in a reliable place (USB drive, etc). This is the only way to recover your wallets or transfer them to new devices.
Introducing BitCanna
- What is Bitcanna?
- BitCanna is a decentralised payment platform initiated by and for the cannabis industry. It is a safe and secure alternative to banks, credit card companies, and other payment providers that do not process transactions related to the cannabis industry. The BitCanna Coin (BCNA) is the (digital) currency used to purchase cannabis-related products.
- Who created BitCanna?
- Some of the foremost business minds in the cannabis industry are responsible for the introduction of the BitCanna platform. Their goal is to provide consumers and businesses with a safe and reliable payment network that will simultaneously earn the respect of regulators and conventional payment systems.
- Benefits of using BitCanna:
- Using BitCanna is not only easy, but comes with an array of benefits, including:
- Secure funds
- Negligible transaction fees
- Full privacy
- Complete control of your wallet and BCNA
- Promos, discounts, etc.
- Community of like-minded consumers and businesses
BitCanna is designed to benefit both business and consumer, making it easy for customers to buy their favourite products and rate their favourite companies accordingly. - Which shops accept BCNA?
- At this time, you can use BCNA at the Royal Queen Seeds and Zamnesia webstores. Soon, you will be able to pay with BCNA at many more shops. You can see the full list of participating BitCanna Alliance members on the BitCanna homepage. Although you will soon be able to make purchases with BCNA in physical shops, at present, purchases can only be made online.
- Where did the currently circulating BCNA come from?
- BitCanna sold the currently circulating BCNA to investors in an ICO. The funds from this sale were used to develop the platform and products.
- What do I need if I want to pay with BitCanna?
- All you need to make a purchase is your wallet and BCNA coins!
BitCanna Wallet
- What is a wallet?
- Cryptocurrency wallets are similar to online bank accounts. They allow you to safely store, receive, and send BitCanna coins (BCNA). However, not all crypto wallets are compatible with every currency. To hold BCNA, you’ll need to install the BitCanna wallet for Chrome and Brave for desktop, or use the Cosmostation wallet on a mobile device.
- Where can I find my BCNA balance?
- Whenever you want to check in on your BCNA balance, just head over to the Keplr browser extension or your BitCanna wallet.
- What is a seed phrase?
- A seed phrase is a series of words associated with your wallet that acts as a key. If you have the seed phrase, you have access to the crypto in your wallet from any device—it essentially serves as a backup if things go south, meaning the safety of your money isn’t at risk if your computer or phone fails. It’s vital to keep a record of your seed phrase to recover your crypto in such an event. We recommend writing your seed phrase down on a physical piece of paper and keeping it somewhere safe, as well as on a protected device.
- What is the BitCanna web wallet?
- The BitCanna web wallet is like a bank account for your BCNA. It allows you to store, receive, and send coins. To access it, you’ll need the Keplr browser extension.
- What is the Keplr browser extension?
- It’s a multi-wallet extension that allows users to store BCNA coins. You’ll need to download an extension to use your BitCanna wallet.
Buying Bitcanna (BCNA) Coins
- How do I buy BitCanna Coin (BCNA)?
- To find out how to buy some BCNA, head on over to the “Acquire BCNA” guide.
- What is the transaction fee?
- BitCanna transaction fees are negligible; usually around $0.00001/€0.00001 per transaction depending on how busy the system is. However, buying BitCanna with a credit card has a fixed fee of around €3 to €4 per transaction. This fee, which is paid to Indacoin, is needed so you can easily use BCNA without going through an exchange.
- How do I know how many BCNA coins to buy?
- That’s easy! By selecting BCNA as your payment method on RQS, you’ll see how many coins you’ll need for the transaction.
- I bought more BCNA than I spent on my order. What can I do with them?
- You can store your remaining BCNA coins inside your wallet for your next purchase. However, know that the value of BitCanna fluctuates according to supply and demand. So the amount in your wallet may change over time even if you don’t send or receive coins.
- How long does it take for my BCNA to arrive after purchasing them from Indacoin?
- After you complete the identification process, your coins will arrive in your BitCanna wallet within one hour.
- Why does the value of BCNA fluctuate?
- BitCanna Coin (BCNA), like any other cryptocurrency, is traded live on cryptocurrency exchanges. Supply and demand determine the value of BCNA at any point in time. This means the value of the BitCanna Coin isn’t stable. If you have BCNA stored in your wallet, the amount will likely increase or decrease somewhat over time.
Paying for Your Royal Queen Seeds Order
- Will my bank know that I bought cannabis-related products?
- No. Privacy is of the utmost importance to BitCanna. Your bank statement won’t show that you bought cannabis-related goods, or where you bought them from. The only related transaction that will show is that to Indacoin when securely purchasing BCNA.
- Can I change my BCNA to fiat (euros, dollars, or pounds)?
- Yes, but you must do so at a crypto exchange. Note that this is out of BitCanna’s purview, but more information can be found in this guide.
- Can I send BCNA to other users?
- Of course! All you need is the recipient's unique BitCanna wallet address. Simple as that!
Privacy and Security
- How does BitCanna ensure the safety of my BCNA coins?
- Privacy and security are of the utmost importance to BitCanna. It is built upon secure blockchain technology with a decentralised system to safeguard the privacy of users. No one except you can access your funds—not even BitCanna! As such, you must back up your wallet and passwords on an external drive or similar. Then, even if you lose your phone or your wallet details, you can recover them.
- How do I transfer my wallet to another device?
- You need two things to transfer your wallet to another device: Keplr and your seed phrase. Instal the browser extension and select “import account” as the login method. Next, enter your seed phrase to restore your account.
- I lost the seed phrase for my Keplr wallet. What should I do?
- If you still have access to your Keplr wallet, you can recover your seed phrase in the browser extension. However, if you lose access to Keplr and forget your seed phrase, you’ll lose access to your funds. For this reason, you must record your seed phrase in multiple secure locations, such as a physical paper copy and as a text document on a USB drive.
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