The largest online cannabis buyer-seller network, BudTrader.com recently announced that it will commence accepting cryptocurrencies from the advertisers as a mode of payment. The site has listed Bitcoin, Bitcoin Cash and Litecoin as the digital currencies valid for payment.
BudTrader switched over to the cryptocurrency payment method after PayPal suspended its account on the grounds of a PayPal policy which forbids CBD advertisements. CBD, also known as cannabidiol is an extract of the cannabis plant with no hallucinatory qualities.
The CEO of BudTrader, Brad Laughlin has been generally vocal about the correlation between cryptocurrency and cannabis. In the Marijuana Business Conference that was held in Las Vegas, Mclaughlin was noted saying, “I’ve seen the future of the cannabis industry and it’s in blockchain and cryptocurrency.”
A fund of $150k was successfully raised by BudTrader with the help of two different parties at the MJ Biz Con Show in Las Vegas. The conference is an unparallelled platform for companies or professionals interested in the impact caused by the ever-evolving technology on the cannabis industry.
Speaking of the rocky situation that the firm is facing with PayPal, Mclaughlin is rather reluctant about making a statement. He told the media that he had nothing significant to say about PayPal. His frustration regarding PayPal’s “outdated Terms and Conditions” was clearly shown in the statement given to the media. He went to say, “I might also say that they are like any other big bank, but just disguised as a tech company. No offense to the Great Elon Musk and the Great Peter Thiel, I got nothing but respect for you guys, but PayPal looks very different today from what it was supposed to be when it was founded. It’s essentially Wall Street disguised as an online payment solution/bank. For now, we’re done with PayPal though!”
In addition to carrying out trade with Bitcoin, BudTrader has been in news for creating its own cryptocurrency. This step has been proposed taking in mind the various banking problems that the cannabis customers have to face.
BudTrader is the fastest growing tech brands famous for its innovative and groundbreaking ideas. The firm boasts of one million active registered users across the 29 states in the United States where marijuana is legal. With its extended territory in Canada as well as Puerto Rico, BudTrader continues to be a tough competition to leading cannabis websites like Weedmaps, Leafly and Massroots.