Bitcoin and weed are two of the hottest trends in D.C. right now. Most district residents are either involved in, or know someone involved in, at least one of these two industries. With huge potential and constant press, everyone is looking to cash in on these new industries. One of the biggest opportunities for both industries lies in their ability to work together.
One of the biggest problems for those trying to get started in the marijuana industry has been dealing with banks. Because weed is still federally illegal, there is a lot of risk when dealing banks backed by the FDIC (which is the vast majority of banks). Many believe that Bitcoin (more specifically the blockchain technology Bitcoin utilizes) is the financial solution the marijuana industry needs.
Interested in acquiring Bitcoin and/or marijuana in D.C.? Here’s a quick guide.
- Because of Initiative 71, weed in D.C. is pretty easy to come by. The most common ways are through a events, delivery services, or medical dispensaries.
- Events are a fun and social way to get what you need. You can find one any day of the week by following @420eventsdc or signing up for our newsletter. Also you can follow your favorite vendor to see where they will be setting up shop. There are so many different types of events, everyone can find the experience they’re looking for.
- Delivery services provide a convenient and efficient way to get your products with minimal effort. There are many vendors that provide delivery services. Our top recommendations are: Local’d & JointDelivery.Co
- Dispensaries are the most professional and legal way to obtain marijuana in D.C. . If you want to purchase from a medical dispensary then you must first get a medical marijuana card from an approved doctor. The benefit of a dispensary is that all products are locally grown and tested (to ensure quality). The drawbacks are that the hours can sometimes be inconvenient for those working 9-5 jobs. If you want to find a doctor or dispensary near you, click here.
- JThe most common ways to purchase bitcoin is online, at a Bitcoin ATM, or through peer-to-peer transaction.
- Online is the easiest way to purchase Bitcoin, just like it is the easiest way to purchase basically everything else. With sites like Coinbase, Kraken & Bittrex anyone can setup an account in minutes and purchase their first bit of “cryptocurrency” or “internet money” as some people like to call it. Our suggestion is to setup an ongoing buy and get a shift card so you can spend your bitcoin at your next event.
- ATMs for Bitcoin function mostly like cash ATMS. You scan your wallet QR code and deposit the money. Some will give you a receipt with a wallet that your money is stored in.
- Peer-to-Peer is best for those who deal in cash. Through sites like local bitcoin you can meetup with people who will take a percentage just like any online exchange and transfer the appropriate amount of cash to the wallet of your choice.
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