CBD and Cryptocurrency

At CBDStar we are all about trying new ideas, keeping up with trends and what our customers are after. From the products we sell, to the methods of payment, we try to stay ahead. 

Accepting bitcoin as a method of payment is no different. 

CBDStar co-founder, says, “We love testing new ideas and new ways to service the wider world. For us, taking bitcoin as a means of payment for CBD was a no brainer. Sure, it has a few risks if you forget to settle it back into fiat money, but we happen to be bullish on Bitcoin anyway, so we enjoy the ride it takes us on.

CBDStar Co-founder

If you are looking taping away searching about CBD and cryptocurrency, you might have been asking the following:

  • How does bitcoin work
  • What companies take bitcoin?
  • Can I buy CBD with cryptocurrency?
  • What cryptocurrencies can I spend online?
  • How does a refund with CBD and cryptocurrency work?

Below, we answer your questions on CBD and cryptocurrencies, such as how does it work and which ones you can spend with CBDStar. 

How does bitcoin for CBD payment work?

When you get to the checkout, you have the option to pay by Bitcoin. Your Bitcoins are digital files that are stored in your digital wallet. You then spend your Bitcoin on CBD and a transaction is made from your digital wallet to the sellers. Some sellers allow you to simply scan a QR code for all your info to be pre-filled for the seller. 

Each transaction you make with Bitcoin is recorded in the blockchain. The recording of the transaction on the blockchain means that people will not be able to make copies or undo payments. 

What cryptocurrencies can I use to buy CBD?

At the moment the altcoins for CBD we can take are limited to those that work with Coinbase but the numbers are increasing all the time. We were here when it was just Bitcoin for CBD at $1000 a BTC. Now there are dozens of altcoins, from Ethereum, Cardano, Polkadot and BAT tokens, it’s crazy but as fans of decentralisation we think it’s here to stay. 

There is a lot of talk about no retailers accepting crypto for CBD or other products, but we are here and have been doing it for years now. There are lots like us too. 

Why do we take Bitcoin for CBD?

We have demonstrated with a few cryptocurrency payment processors, from Coinbase to Bitpay, but find they fit so seamlessly into the shopping experience, we see more issues with card gateways than we do with bitcoin or other altcoins.

Buying goods such as CBD with cryptocurrency will help to make the buying process more widely accepted and adopted by the masses. 

How long have we let you buy CBD with cryptocurrency

CBD and cryptocurrency is nothing new to us. We’ve been accepting it for years now. Over the time we have noticed more and more currencies come to market and an increase in cryptos that allow you to buy CBD, such as Bitcoin, Polkadot, BAT Coins and more. 

How do CBD and cryptocurrency refunds work?

While a Bitcoin transaction can’t be reversed, it can be refunded. This means you should make sure you buy with Bitcoin from companies with a decent reputation – like us, of course! If you are entitled to a refund for your CBD which you paid for using Bitcoin then the seller can offer a refund. 

CBD and Cryptocurrency

At CBDStar we accept cryptocurrency for the buying of CBD. However, we are limited to only taking those that work with Coinbase. They are increasing all the time, as it stands (2021) here’s which ones we can accept:

  • Bitcoin
  • Bitcoin Cash
  • Litecoin
  • Ethereum
  • Ethereum Classic
  • XRP
  • Stellar Lumens
  • Dogecoin
  • all ERC20 tokens