Many prominent figures, especially athletes, are investing in the marijuana industry for various reasons. Some see it as an excellent business investment, some are focused on the medical benefits and research, and others are advocating for legalization and improved state and federal legislation supporting cannabis companies. 
Weed is getting some major attention due to recent events in the sporting world. While we’re only just hearing about these unfortunate circumstances in the mainstream media, it’s also bringing to light the amount of athletes (and other celebrities) who have a stake in the industry. Many athletes have experienced the healing power of CBD and marijuana and are investing to help the industry grow as a mainstream form of sports medicine.

Joe Montana (Hall of Fame NFL star) has heavily invested in a California-based company called Caliva Cannabis Co. for years. While he’s silent about his participation, his venture capital firm pays substantial dividends to Caliva and another company called Herb. Montana believes in the medical potential and chose these companies because they create health and wellness products that can provide pain relief as well as make an impact on opioid use and other drug addictions. Other notable athletes who openly invested in the cannabis industry are Al Harrington, Cliff Robinson, Ricky Williams and Gabby Douglas (has her own CBD line.)

In Canada, celebs can’t endorse cannabis products. Because of this, you may not hear about their partnerships too much, but many familiar celebrities are investing in marijuana companies. Snoop Dogg (obviously) has partnered with Canopy Growth Co. to create Leafs by Snoop (LBS). Canopy also works with comedian Seth Rogen who helped launch Houseplant, another marijuana brand. Through Canopy, Drake is the majority owner of More Life Growth, in Toronto. 

Investing isn’t just for celebrities and rich people. There are a few ways an average J like yourself can invest in the industry. In fact, blockchains and cryptocurrency have a big part to play in moving cannabis into the digital age.

Simply put, blockchains are chains of blocks which contain information. The information that is stored inside a block depends on the type of blockchain. Blockchains are known for their transparency, security, anonymity, time stamping and validation. Blocks are added with each new transaction and once confirmed legitimate, they’re clustered into blocks. Blockchains help create growth in Cryptocurrency.

By now you’ve probably heard of Bitcoin and other cryptocurrencies. Cryptocurrencies are digital currencies that use digital tokens that can be transacted, verified and maintained using blockchain systems, instead of centralized authorities like a bank. 

The consumer exchanges real currency for tokens that are stored in a “crypto wallet” protected by a unique password. Then the consumer can use these tokens to later access goods and services. They work similar to casino chips, arcade tickets, or gift cards. 

Cryptocurrencies are growing in popularity because of their transparency and their fast, affordable transactions. Due to lack of federal legalization, the cannabis industry has turned to blockchain cryptocurrencies as a financial platform. Afraid of legal drama, banks don’t trust or give access to cannabis companies. This didn’t hurt the industry, because by turning to cryptocurrency, they have access to faster transaction times, less money wasted on transaction fees and greater security and transparency.

Did you know there are cannabis-specific cryptocurrencies? Each one is slightly different with different industry priorities and affiliations. Here are five worth looking into:

The more we talk about and share the benefits of both cannabis and cryptocurrency, the better they’ll be perceived and mainstream. The state of Nevada is actually working with a blockchain crypto company to secure and facilitate financial transactions for marijauna companies statewide. They are working towards a secure platform for companies to pay local and state taxes. Here’s hoping similar strategies will emerge in other states…like California!

Marijuana and the stock market don’t sound like they go together, but as the industry grows, so does the potential to make some big money. Cannabis as a respectable business industry is still a new concept. Because it’s not federally legal, there is hesitance and the market is speculative. Technically it’s illegal on a federal level. With legalization will come enforcement and regulation, which isn’t necessarily a bad thing. This will make investors more confident in the industry and the legality of their investments. 

The stock market can be an intimidating concept that takes time to understand and learn. There are many perks to investing but it’s best to understand how the stock market works before you jump in.

Basically, when you purchase a public company’s stock, you’re buying a small piece, or share, of that company. This is why you always hear about “shareholders.” You buy stocks online through the market with a brokerage account, robo-advisor, or employee retirement plan (if your work offers this, take advantage of it!) When you buy stocks, you negotiate prices like an auction until the company accepts your offer. The stock market isn’t without risk. It can go up and down based on news, the economy, company reputations, supply & demand and other factors. This is why people watch it so closely! The stock market is government regulated to keep it secure, fair and organized, but at the end of the day it’s still a calculated gamble. 

Using platforms like E-Trade, Webull, Stash and SoFi are the best recommendations for beginners. They’re more approachable for those new to the market and trading stocks, plus they have easy-to-use apps. 

Cannabis stock is still new to the market, but there are some awesome weed companies to invest in. When you buy stocks from these companies, you’re supporting the marijuana industry’s overall growth and economy. Here are five cannabis stocks we recommend looking into:

Making investments can be a big deal because you’re trading in your hard-earned money for stock or digital tokens. This is why you should only invest what you can afford to lose. Make sure you calculate platform fees and other expenses when you budget for your investments.  As long as you’re responsible with these investments, they can pay off by increasing your wealth and pad that retirement fund. Plus, investing in marijuana crypto or stocks will help the industry grow and reach their goals!

La entrada Investing in Marijuana: Stocks, Cryptocurrency and Cannabis Tech se publicó primero en Ecomeds.