The properties of medicinal cannabis have been widely discussed around the world, yet it has not been properly regulated or legalized in many nations. What is at stake, then, when you decide to invest in this industry?
Let’s start with the thorough research of which countries permit this business and which others do not. Then, you would have to directly contact the farmers of the country in which you want to manage your investment and negotiate prices. In addition, you would have to constantly monitor the laws of the chosen country, as they are constantly changing, especially the ones regarding marijuana use.
What is JuicyFields?
Do not despair, though, as there is an innovative and easy-to-use platform designed to make this process easier, quicker, and better: JuicyFields.io. An innovative company set up in 2020 that has managed to double their production in just a year and a half. Besides, as the Cannabis market is one growing at a fast pace, JuicyFields serves as a bridge between emerging cannabis companies and potential e-growers.
However, their mission does not stop there, as the company is keen on breaking down misconceptions around cannabis culture and providing access to medicinal cannabis enthusiasts while being 100% legal (remember they do all the paperwork and research needed so that you can grow your plants from a place where it is indeed permitted).
Crowdgrowing vs. investing
Even though crowdgrowing seems at first glance as another area you invest in, there is one key difference between the latter and the former terms. Before you buy your desired plant, you already know how much you’re going to earn. Your profit does is not as dependent on the market as investing is. Using in the platform is as easy as 1, 2, 3: create a new account, buy your plants, and monitor your harvest.
Medicinal Cannabis + Crypto: can it get better than this?
Not being content with being the first crowdgrowing platform in the world, JuicyFields also seeks to adapt to modern needs. Just as Elon Musk’s openness to accepting bitcoin and most recently dogecoin investments in Tesla (NASDAQ:TSLA), JuicyFields is upgrading the game by allowing e-growers to both purchase and sell plants with cryptocurrency.
Crowdgrowing with Crypto
As of now, you can use BTC, Ethereum, and Tether coins on the platform. Keep in mind that when you buy a plant using crypto , the revenue is automatically converted to euros. Same thing happens when you want to withdraw using bitcoin or similar. In other words, crypto is converted to flat currency during the harvest, and then you can choose to withdraw it either in euros or in crypto.
Using crypto to pay: step by step
Juicyfields plants’ prices range from 50 EUR to 2,000, so you will have to select the type of plant you prefer and the quantity.
Step 1: select your payment method
Aside from flat currency (EUR), there are 3 types of cryptocurrency you can buy plants with: Bitcoin, Ethereum and Tether). The four options with their current exchange rates are displayed at the moment of payment.
Step 2: Transfer your currency
After choosing your cryptocurrency, a QR code will be displayed along with an address which you can put in your preferred wallet to make the transfer. Before payment, you need to have all of your funds converted in your chosen currency in the wallet. Bear in mind that Bitcoin processing has a small delay, so you may not see the change in your balance immediately.
Step 3: Monitor the status
At first, the status of your plant appears pending, but after a while (30 min approx) you can see that your plant has already started the harvesting process. If you make a transfer that exceeds the price, do not despair, as you won’t lose it. The remaining amount will be added to your Juicyfields balance for further purchases.
Using crypto to withdraw
The same initial screen where you choose your currency appears when withdrawing your profit. You will then see the Euros equivalent in Bitcoin, Tether or Ethereum. When you select one, you have to paste a transfer address from your wallet. Before you can complete the process, a security code will be sent to your mail to add an extra layer of security. Your payment will be done after inserting that security code.