Kratom is now available to buy online from various retailers, and with regulations surrounding the botanical becoming increasingly relaxed, it’s easier than ever to get your favorite Kratom strains. However, there are many myths about Kratom, especially since it was formerly misclassified as a Schedule I drug in the U.S.
Because of these misconceptions, it’s understandable that people want to be discreet about their Kratom purchases, even though they’re legal federally and in most states. Some people just prefer more privacy for their online purchases than traditional banks allow.
Cryptocurrency is a powerful option for conducting any online transaction privately and safely. Although cryptocurrency seems intimidating at first glance, it’s easy to understand and use once you grasp the fundamentals.
What is Cryptocurrency?
Cryptocurrency is a form of digital money that is usually not tied to the currency of any country. It is a decentralized currency that uses cryptography to determine its authenticity and value instead of being backed by gold or another physical standard.
Cryptocurrency has come about in the past ten years as the technology required for securing it has improved. It’s now possible for public use thanks to vast increases in computing power required to keep it running daily instead of just in limited quantities.
Cryptocurrency is designed to be accessible to the public as an international substitute for genuine money. It is available in multiple individual currencies, each with its own value relative to other currencies.
Although this sounds complicated on the surface, most of the hard work goes on behind the scenes. Programmers have worked hard to make cryptocurrency as straightforward and accessible to the public as possible. You can buy and use cryptocurrency just as easily as you can use any other online payment platform.
One of the crucial things to remember about cryptocurrency is that its value fluctuates relative to real-world currency and can lose value over time. However, its changing value has made it a popular option for tech-savvy investors looking to jump on board the trend.
Popular currencies like Bitcoin, Ethereum, and even Dogecoin have netted millions of dollars for early investors after demand rose and their value skyrocketed. Although some investors then sold their currencies, some have continued to hold it as a long-term investment and use it as a payment method.
This success has led to a flood of new currencies, some of which don’t have the same value or widespread recognition. However, they may be worth looking into if you notice that one or more of them have the potential to take off. Some are more highly regarded than others due to the technology they use for security or mining, so do your research to find the current top contenders.
You can also use stablecoin currencies that track the U.S. dollar and other major currencies. These currencies are a good choice if you’re wary of price fluctuations and risk associated with other cryptocurrencies but want better privacy than traditional transactions can offer.
Typical bank transactions can be subject to various forms of monitoring, and suspicious activities may be reported to law enforcement authorities. In some cases, legitimate transactions may end up blocked due to suspected fraud.
Despite its high level of security for general authentication, cryptocurrency is not tracked by a broader institution. It is similar to paying with cash, but your cryptocurrency wallet verifies the authenticity of the currency first, much like how a cashier might use a counterfeit detector pen on a $100 bill.
Buying Kratom Online With Crypto
Even if you don’t intend to use cryptocurrency for most purchases, it’s smart to create a cryptocurrency wallet to have it when you need it. Common cryptocurrency wallets like CoinBase give you a vast range of cryptocurrencies to choose from, so you can invest and spend your money however you’d like.
Keep in mind that if you use a bank account to make your cryptocurrency purchases, some cryptocurrency wallets have a 5-day waiting period before permitting you to use the cryptocurrency with public retailers, including Kratom companies. This is a fraud prevention measure that you can usually avoid by using a credit or debit card instead of a bank account.
Kratom retailers originally began accepting cryptocurrency because major financial institutions consider Kratom a high-risk product, and many have banned the sale of Kratom using a credit card. However, not all Kratom retailers accept cryptocurrency as a form of payment.
Recently, crypto Kratom purchases have become more common because of user demand for a fast, accessible payment platform for high-risk goods. The increased privacy of cryptocurrency has made it popular with younger generations, who are doing more online shopping than ever.
Another reason for its popularity is the minimal transaction fees. Most online payment methods require at least 3% transaction fees, and many credit cards also have an annual fee. Cryptocurrency minimizes these transaction and service fees, which results in a win-win situation for the retailer and the customer by helping provide the best Kratom prices possible.
If you buy Kratom directly through the retailer’s website, you may be directed to a payment gateway such as CoinPayments. This gives you the retailer’s cryptocurrency address to send payments to. Doing so through your web browser is easy and just like using other payment methods, but you also have the option to manually send the payment from your smartphone app of choice, such as CashApp.
Manual payments may take a few hours to be confirmed. However, this process usually takes far less than a business day and rarely will impact your shipping time. The overall security of the transaction makes it an excellent balance of privacy and efficiency that will appeal to anyone concerned with securing their online activities.
Getting Your Kratom
Since Kratom is legal in much of the U.S., cryptocurrency isn’t strictly necessary. However, it is a great payment option for enhanced privacy and may have potential as a form of investment.
If you’re just now getting interested in cryptocurrency, now is a great time to do so. An increasing number of retailers are starting to accept this new form of payment, so learning to use it can facilitate easier transactions in the future.