By RQS Editorial Team

Despite cannabis legalization becoming a reality in many places, strict regulations are still impeding the sale of cannabis-related products. Major banks, credit card companies, and other payment providers such as PayPal are still distancing themselves from this area of business. This has led to issues not just for consumers, but for the cannabis industry as a whole.

These inconveniences when purchasing cannabis-related products has led to the development of a new, fast, and safe payment method for the cannabis industry: BitCanna is a groundbreaking way to pay for cannabis products that offers convincing real-world advantages. Customers and merchants can enjoy complete freedom, ease, and confidence, with maximum levels of privacy and security.

As one of the most established brands in the European legal cannabis market, Royal Queen Seeds is now proudly joining the list of merchants offering BitCanna as a payment option. Let's take a look at BitCanna, along with the reasons you should check it out!

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The BitCanna Journey

These days, purchasing goods online couldn’t be easier. Many vendors offer payment options such as credit cards and PayPal that allow consumers to purchase goods instantly. Along with how easy they are to use, these payment methods are usually also safe and secure, offering peace of mind to the parties on each side of a transaction.

For the cannabis industry, it's a whole different story. Credit card companies and online payment systems rarely handle transactions related to cannabis products, even if the businesses and goods are completely legal (think of seeds, paraphernalia, growing equipment...).

For consumers and merchants, this lack of service means inconveniences such as longer processing times when ordering, higher fees, lack of security, and other disadvantages.

BitCanna is an initiative backed by a strategic alliance of leaders in the European cannabis industry, known as the Bitcanna Alliance. The network consists of the most prominent seed banks and cannabis firms in Europe, who serve tens of millions of visitors every month. With their shared interest, they are committed to providing the best solutions to address these challenges. With their shared expertise, they are capable of doing so.

But BitCanna isn’t just yet another cryptocurrency. What makes BitCanna unique is that it combines the ease and convenience of shopping with a credit card with the unsurpassed privacy and security of cryptocurrency. BitCanna offers the benefits of each, without any of the drawbacks.

What Are Cryptocurrencies?

Cryptocurrency is digital money designed to be secure and, in many cases, completely anonymous. Compared to normal currency (euro, dollar, etc.), it is unique in many ways.

One of the key attributes of crypto is that it functions as an electronic cash system that isn’t owned by any one party. Transactions don't involve a bank or any other authority or middleman, as is the case with traditional payment methods.

Reliable cryptocurrency, including BitCanna coin (BCNA), is decentralised and operates on the back of a decentralised technology called a blockchain. The blockchain is a system of processing information that makes it difficult or impossible to change, hack, or cheat the system.

Cryptocurrency, with the most prominent example being Bitcoin, came to the fore in 2008 during a time of severe financial crisis. As businesses collapsed and banks had to be bailed out at the cost of taxpayers, it became clear that the existing financial system wasn’t just untrustworthy, but also seriously flawed. The loss of trust in traditional financial institutions spurred the development of an alternative type of currency that is less fallible and more secure. Suddenly, everyone was talking about cryptocurrency. Today, there are more than 1,000 different cryptocurrencies.

What Are Cryptocurrencies?

What BitCanna Means for the Market

BitCanna coin (BCNA) offers all of the inherent advantages of crypto, such as being completely anonymous and utilising a blockchain as a safe and secure way to verify transactions.

Yet, BitCanna also offers the ease and simplicity of other payment methods, such as credit cards. Even someone who is not familiar with cryptocurrency can easily use BitCanna to purchase goods if a vendor offers it as a payment option.

The refusal by financial institutions and service providers to work with the cannabis industry has been holding back the cannabis industry to quite some extent. With BitCanna, the global canna-business finally has the reliable and trustworthy payment system it so deserves. It is a big step forward on the way to earning back the trust of consumers, regulators, and financial institutions.

Is Bitcanna Safe?

BitCanna users enjoy maximum privacy and security, which is often a main concern among those using cryptocurrency. The BitCanna ID system allows identity to be verified using a driver’s license or other form of ID. Once identified, this information is encrypted and safely stored.

With BitCanna, nobody else but the owner of the account can access it and the funds within. This means total peace of mind and full control when using the platform. As not even BitCanna is able to access your account, it is highly recommended to store an encrypted backup of the password and details, for example on an USB stick, in a safe location.

Unlike most other types of payments, no details of a transaction, including what was purchased or where, will appear on your bank statement. Any information related to a transaction is kept securely in the BitCanna app so users can enjoy ultimate discretion and privacy.

Another perk of the BitCanna payment system is that it offers a trust rating system for merchants. This way, customers will know that they’re buying from legitimate and trustworthy companies.

Benefits of Using BitCanna

Using BitCanna as an innovative, safe, and secure way to pay for your cannabis-related goods has a number of perks and advantages:

  • No transaction fees: Transaction fees when using BitCanna are negligible (€0.00001 per transaction).
  • Easy to use: The BitCanna mobile app uses an easy QR code payment system. Simply scan the QR code upon checkout to complete payment.
  • Easy to purchase: Users can purchase BitCanna coin (BCNA) with a credit card. No need to use a cryptocurrency exchange as with other cryptocurrencies.
  • Maximum privacy and security: Making a purchase with BitCanna is completely anonymous. No information about goods purchased is accessible to others.
  • Full control over funds: Using the BitCanna wallet app (available for Android, Windows, and MacOS), it is easy to keep track of all transactions. The app allows you to send (i.e. pay for purchases) and receive coins, and gives a quick and up-to-date view of your remaining balance. Users can send and receive funds within minutes.
  • Exclusive discounts and offers: Merchants with BitCanna as a payment option are offering a 15% discount on each order paid with BCNA.

BitCanna: Start Today!

Getting started with BitCanna and enjoying its many perks is as simple as 1-2-3:

Mobile users can download the mobile wallet app to their phone to safely store and pay for goods on the go. A quick QR scan is all you need to purchase goods. To manage your coins from your computer, there is also a BitCanna lite wallet app available for Windows and MacOS.

Note: The mobile BitCanna app is currently only available on Android.

Once you’ve downloaded and installed the wallet app on your phone or computer, it will only take a minute to enter your information to create a new account. Within minutes, you will be all set to send and receive BCNA.

Join the BitCanna revolution by downloading your wallet today!

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