Purchasing Kratom with cryptocurrency is a popular debate being carried out across the globe. With the increasing popularity of Mitragyna Speciosa, the demand for this tree leaf has been greatly increased. Considering this fact, thousands of new users and sellers are jumping into this profitable domain.
If you analyze the stats of the last 10 years of the countries that produce Mitragyna, you will be amazed to see an exponential rise in the revenues being generated.
Some indigenous countries like Indonesia and Thailand are generating huge profits just by selling Mitragyna to other parts of the globe. Millions of dollars are being spent by the US alone on the consumption of this plant.
Since the demand for this marvelous herb has increased, users are more concerned about how to pay for it. As you know, a single payment method can not facilitate everyone while buying Kratom. Therefore, the sellers have decided to introduce a wide range of payment methods that we will see later in this read.
Cryptocurrency is an evolving approach to shop online. If you are looking to buy Kratom with cryptocurrency, this read is surely going to help you.
Before going into the nitty-gritty, let’s try to understand what precisely is cryptocurrency.
Cryptocurrency: What Should You Know?
It is a digital currency commonly known as “crypto” that uses block chain technology. It comes with over 5,000 different coins but most of them are not known to many of us. Some of the popular coins are Ethereum and Bitcoin many people are familiar with.
This currency is not associated with a particular country or any institution. Regardless of the place you live in, you can utilize the benefits of cryptocurrency. You can use it to buy several goods and services online. But, the question here is; can you purchase Kratom with cryptocurrency? Let’s try to find out the answer to this question.
Is Cryptocurrency Legal?
Well, the answer to this question is not that simple as it seems. Every state or country has its own opinion regarding this digital currency. Some have declared it completely legal for different purposes but at the same time, you will be surprised to see the countries with a complete ban on this currency.
People get confused when it comes to taxes. Most of them think that being a decentralized currency, taxes are not implemented on it. But, this is far away from reality. In fact, just like other currencies, taxes can be applied to it. It is all dependent on the rules of your state or country.
As far as the United States is concerned, cryptocurrency is completely legal for you to benefit from.
Can I Buy Kratom With Cryptocurrency?
Well, cryptocurrency is a powerful tool to make your online purchases with super easy and secure procedures. Just like other herbal products, a couple of sellers have allowed consumers to purchase Mitragyna using this digital currency.
The exchange rate of cryptocurrency keeps on varying from time to time and many people have invested in it to make high profits. Bitcoin is the most popular coin of this currency and its value was increased for the very first time from $0.0008 to $0.08 in 2010. After 11 years, in 2021, the same coin was worth more than $60,000.
Why Do People Use Cryptocurrency To Buy Kratom?
Well, the major reason why people started buying Speciosa with this currency was, a number of reputed banks and other credit card organizations imposed limitations on sending and receiving payments for Mitragyna purchases. They introduced these restrictions because they think that Korth is a product having multiple health risks.
Taking a look at this action, the Kratom vendors started thinking about accepting the payment method that is suitable for almost all buyers. There were many options available in the market like electronic checks. But, the major concern of customers was the higher processing fee.
Another reason why people use this currency is; it provides them with an opportunity to make payments discreetly. This is exactly what most buyers always look for. In fact, you can find a large community of merchants who offer special discounted deals if you make a purchase using your cryptocurrency wallet.
This is how a strong bond between cryptocurrency and Korth was made and hence you can use it to buy your favorite kratom strains very easily.
How To Pay When Buying Kratom With Cryptocurrency?
It is one of the most convenient methods to make your Speciosa purchase. You just need to have a crypto wallet where you can store this digital currency. Today’s market has many exchanges that can provide you with different wallets. A few of the top exchanges are Coinbase and Binance. You can use any of them to get a better experience.
4 Simple Steps To Follow
Here is how to get started with a crypto exchange.
- Download a mobile application, install it, and create your account for free.
- Sync your bank or any other payment source to your account. Most of the time people prefer attaching their debit or credit cards.
- You can select Bitcoin or any other coin while checking out. Later on, you can buy anything with the coins you purchase.
- Use your mobile phones (android or apple) to pay. Consider using a displayed payment address if you are using Mac or PC.
Top Crypto Exchanges In 2022
As mentioned earlier, Coinbase and Binance are at the top of the list. But, there are some other exchanges the people use while purchasing Kratom with cryptocurrency. They include KuCoin, Kraken, Gemini, Bitstamp, Bittrex, and bitFlyer.
5 Popular Cryptocurrencies To Purchase Kratom
The top 5 coins in 2022 to buy Kratom are listed below.
- Binance Coin
Is Switching To Cryptocurrency A Decent Approach?
As you know, both the DEA and FDA are continuously planning to somehow ban Kratom in the United States. Therefore, as long as these authorities are creating trouble for the Speciosa users, the banks will not allow you to use their services for either selling or buying Kratom.
Keeping in mind the above-mentioned fact, it is a good idea if you switch to crypto-based purchases. You can encourage your friends, family, and other community members to use this decentralized approach for making safe and convenient Kratom purchases.
The best thing about crypto is; you pay less processing fee compared to other payment options. This is the reason why many newbies prefer this method over others.
Purchasing Kratom with cryptocurrency is fairly a new approach than buying this herb using your debit or credit cards. Crypto, without a doubt, has made your online shopping very convenient and it charges less amount as a processing fee.
Some countries are not allowing its official usage but the future seems pretty bright. If you are living in the US, you are lucky enough to buy Kratom with this currency.
Frequently Asked Questions
Question: Can I use any other payment option rather than purchasing Kratom with cryptocurrency?
Answer: Yes, there are a couple of methods you can adopt to buy Kratom including but not limited to PayPal, credit cards, debit cards, Google Pay, electronic checks, and American Express. Interestingly, you can also buy this herb using Cash on Delivery (CoD).
Question: Is there any specific coin that I should purchase to place my Kratom order online?
Answer: No, not at all. The best part of this technology is; you can buy any coin and can easily use it to purchase your desired strains. If you are looking for the frequently used coins for purchasing Korth; they are Bitcoin and Ethereum.
Question: Can I convert my cryptocurrency to bank balance if banks allow me to make Kratom purchases in the future?
Answer: Yes, it is pretty easy in fact. You just need to sell your coins and you can get that amount to your banks at any time you want.