DopeCoin (DOPE): Dope or Nope?

Another one of cryptocurrencies especially made for cannabis enthusiasts – DopeCoin is operating side by side with PotCoin and CannabisCoin, another two cryptocurrencies launched to support the idea of having recreational weed legalized and easily purchasable. As you know legal or not, weed industry holds billions and billions of dollars within, so DopeCoin even switched their name to DopecoinGold, probably stressing out the fact that gold lies in the industry they support. Still, this coin is known as DOPE. To get a closer insight of whether DOPE is dope or nope, we are listing everything we know about this coin so far, also following up with prices and market circulation.

DOPE and Everything you need to Know about DopeCoin

DopeCoin, or simply DOPE, is another cryptocurrency that proves the fact that transactions can be made safely and under secure conditions even if there is no third part controlling the transaction being made at the given moment. If you are not familiar with DopeCoin, you surely know that transactions involving cryptocurrencies involve only two parties and just the two parties involved own the right of full transparency over their exchange of funds or purchases. There is no third party checking transaction, following up with transaction status or having insight in the value of the transaction – there are only two people who agreed to exchange monetary value, make a purchase or a transaction.

In case you did your research on how crypto transactions work, you are undoubtedly familiar with all the benefits crypto coins can get you. For starters, there is no need of third parties being involved in transactions, like MasterCard, your bank, PayPal or any other similar institution – as although these institutions are making your transactions safe, they are also taking their part in the form of fees. Thus you pay for their services of helping you make a transaction or a purchase. Many of these and similar third parties are also charging annual or monthly fees for having been using their services, which is not the case with DOPE or any other cryptocurrency. DOPE is not owned by anyone, so that means that you have freedom of making as many transactions as you want (or as your Wallet allows) and with anyone you want anywhere in the world – all made to be cost-effective, economical, prompt and reliable.

The catch lies in the fact that DOPE is supported by thousands of different computers working at the same time on supporting blockchain technology that enables an encrypted and safe environment for all users that are holding DOPE coins and making transactions with this digital currency. Thanks to that encryption, all transactions are made safe and secure even though DOPE or other cryptocurrencies are not being monitored by a third party.

However, you must never lose your Wallet as there is no third party you can turn to report the loss of your funds.

Now, what about DopeCoin and its features? What makes it so unique that you might want to invest in this digital coin?

Dope and Its Purpose

Dope is working based on blockchain technology and thanks to that mechanism, all your transactions are made to be safe and secure. But, what may be the best thing about DopeCoin is the staking bonus of 5%. That means that DopeCoin is rewarding you solely for keeping your DOPE instead of selling it in exchange for another monetary value. The only thing you need to do to receive your staking bonus of 5%, which is more than generous offer, is to keep your coins in your Wallet and keep your Wallet open. That does not mean that you should share personal information and unique key or password to your Wallet – that only means that your wallet should be working on your desktop with your Dope coins kept safely in your Wallet application.

Dope is also mineable, so all miners are welcome to work on mining this digital value – they are to receive more coins for every solved blockchain with a block time of 60 seconds.

But the main idea behind DOPE and altogether its primary purpose is to support weed industry DopeCoin creators believe is very valuable, simultaneously thinking that weed industry is soon to become one of the top leading industries.

Especially with the latest law brought to California that makes recreational weed wholly legal and available for purchase by anyone, DopeCoin, as well as similar coins like PotCoin or CannabisCoin, have even brighter future installed for them.

Unlike PotCoin and CannabisCoin that have recently experienced a decrease in their value per one coin, losing about 10% each, DopeCoin has undergone a pretty nice increase in the past couple of days.
As of today, on January 11^th, DopeCoin have experienced a decrease as well, making the value fall for – 12.96%, which made the coin drop to 0.15$ per one coin, although its previous value was around 0.17$.

But, if it is to believe the predictions of having all weed related coins increasing with the general acceptance of recreational marijuana and legalization of recreational use of cannabis, these coins would undoubtedly be categorized as “dope” rather than NOPE.

With 18 million dollars worth market cap and with over 116 million coins in use and circulating, along with having DOPE under a price of 0.18$, now might be the right time to invest in this recreational weed supporter than serves the purpose of more than being just a transaction tool.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com