How To Pay With Bitcanna

How To Pay With Bitcanna

BitCanna is a payment solution initiated by the cannabis industry. Most banks, credit card companies, and payment providers won’t handle money generated by the cannabis industry, even when it’s completely legal. To address this problem, BitCanna created a platform to provide a decentralised payment network for the legal cannabis industry, by means of the BitCanna coin (BCNA). This coin can be used as a payment method.

To Pay With Bitcanna At Zamnesia, You Will Need The Following:

  • The BitCanna Lite or Mobile wallet → You need a digital wallet to be able to store, send, and receive BitCanna coins. At the moment, the BitCanna mobile app is only available on Android via the Google Play Store. The Lite wallet is available on Windows and MacOS.
  • BitCanna coins (BCNA) → This is the currency you use to make payments.

Important — Back Up Your Wallet And Password!

It is important to realise that you are the sole owner of your wallet(s). BitCanna cannot access your wallets, recover your wallets, or access the funds within. Your wallets are only recoverable through your own backups and passwords. Therefore, it is very important to store your passwords and backups in a safe place, as this is the only way to recover your wallets or transfer your wallets to new devices. In the guide linked below, we will explain to you, step-by-step, how to easily create and store a backup.

Please Read Before Using Bitcanna To Pay For Your Zamnesia Order:

  • You can currently acquire BCNA coins using a credit card. When you purchase BCNA coins with a credit card, you will have to purchase a minimum of €50,-. If you have experience with cryptocurrencies, you could also acquire BCNA coins on a cryptocurrency exchange, but this process takes more time and is more expensive due to deposit, withdrawal, trading, and transaction fees.

  • To purchase BCNA coins, you will have to do a KYC process (this only takes a couple of minutes and the system will automatically verify your documents). You will only have to go through this process the first time. The next time you want to buy BCNA coins with your credit card, you will not have to go through this process again.

  • When you buy more BCNA coins than you need for your purchase, you can store the extra coins in your BitCanna wallet and use them for your next purchase; however, it is important to note that BCNA coins can fluctuate in value since it’s live traded on the exchange and its price is determined by supply and demand.

 

How To Pay With BitCanna (Complete PDF Guide)

 

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About Bitcanna

What is BitCanna?
BitCanna is a payment solution initiated by the cannabis industry. Most banks, credit card companies, and payment providers refuse to handle money generated by the cannabis industry, even when it’s completely legal. To address this problem, BitCanna created a platform to provide a payment network for the legal cannabis industry, by means of the BitCanna coin (BCNA). The BCNA coin can be used to pay for your cannabis-related products.
Why should I use BitCanna?
When you purchase products with BitCanna, you will benefit from:
  • Increased privacy
  • Control over your own funds
  • Negligible transaction fees
  • Exclusive discounts and offers
Besides benefitting yourself, cannabis-related businesses benefit as well due to being less dependent on other payment providers.
Where can I pay with BCNA?
At the moment, you are able to pay with BCNA at Zamnesia. In the near future, you will be able to pay with BCNA at more stores. On the BitCanna homepage, you can find an overview of stores that currently accept BitCanna coins.
Can I pay with BCNA in physical stores?
At the moment, it is only possible to pay with BitCanna online, but the BitCanna team is currently working on launching its payment system for physical stores.
Who created BitCanna?
BitCanna is an initiative created by leaders in the European cannabis industry. With a shared passion, they are committed to providing the best solutions to the challenges currently holding back the cannabis industry. The ultimate goal is to open up the restrained business attitude of the current market to earn back trust from consumers, regulators, and financial institutions.
How did the BitCanna coins that are currently circulating get created?
BitCanna created these coins and sold them to investors in the early stage of their project for $0.06, $0.09, and $0.12. This process is called an ICO (initial coin offering). BitCanna has used the funds received from its ICO to develop its products. A few examples of BitCanna’s current and future products are the blockchain, digital wallets, payment modules, supply chain, and ID-management.
What do I need to pay for my order with BitCanna?
You will need a BitCanna wallet and BitCanna coins.

Wallet

What is a wallet?
A wallet is a place for you to safely store your BitCanna coins (BCNA). With a wallet, you can pay for your order (by sending BCNA coins), and you can also receive BitCanna coins. BitCanna’s wallet is an application that can be installed on either your desktop computer or your mobile phone.
Which wallet should I choose? A Lite (desktop) wallet or a Mobile wallet?
Depending on which device you would like to pay with, you can either choose the Lite (desktop) wallet or the Mobile wallet. Currently, the Mobile wallet is only available on Android devices. The Lite wallet is available on Windows and MacOS computers. Depending on your personal preference and device, you can choose the best fit for yourself.
What is a Lite wallet?
The Lite wallet is an easy-to-use digital wallet available on Windows and MacOS. With this wallet, you are able to send (pay), receive, and store BitCanna (BCNA) coins on your computer.
What is a Mobile wallet?
The Mobile wallet is an easy-to-use digital wallet for your mobile phone. From this wallet, you can send (pay), receive, and store BitCanna (BCNA) coins. The Mobile wallet will allow you to pay for your order by simply scanning a QR-code during payment. Currently, BitCanna’s Mobile wallet is only available on Android devices.
Can I use both a Lite and Mobile wallet?
It is not necessary to have both the Lite and Mobile wallets, but you have the option of using both. Please note that these wallets are separate and not connected to each other. This means BCNA coins on your Mobile wallet will not show on your Lite wallet, and vice-versa.
What is the long string of random numbers and letters shown in both the Mobile wallet and Lite wallet? Example: B7H897ncLDHY8Vos093JHahsRwW
This is your personal unique (wallet) address with which you can send and receive BCNA coins. You can view this as your bank account number. By providing this address to others, they will be able to send you BCNA coins.

Please do not mistake this address with your private key, which also consists of a long string of numbers and letters. Your private key is available in your Lite wallet under “Settings”. It is important to keep this private key secure, because anyone with access to your private key can access your wallet and your funds within.
What is a wallet address?
This is your personal unique (wallet) address with which you can send and receive BCNA coins. It looks something like this: B7H897ncLDHY8Vos093JHahsRwW. You can view this as your bank account number. By providing this address to others, they will be able to send you BCNA coins.
How do I get a wallet address?
When you download the Mobile wallet or Lite wallet and launch the application, your own unique address will be automatically generated.
Where can I find my BitCanna coin (BCNA) balance?
You can find your BitCanna coin (BCNA) balance at the dashboard of your Mobile wallet and Lite wallet.
What should I do if I want to transfer my Mobile wallet to another device?
In order to transfer your Mobile wallet to another device, you will need the recovery phrase. The recovery phrase is the string of 12 unique words that was automatically generated when you created your Mobile wallet. Without these words, you will not be able to transfer your wallet to another device. More information about the Mobile wallet can be found here.
What should I do if I want to transfer my Lite wallet to another device?
In order to transfer your Lite wallet to another device, you will need both the Lite wallet’s backup file and the password you set when you created the wallet. Alternatively, you can use the private key to transfer or login to your wallet on another device. Without these, you will not be able to transfer your wallet to another device. More information about the Lite wallet, backup, password and private key can be found here.
I lost the recovery phrase for my Mobile wallet. What do I do?
If you still have access to your wallet but lost your recovery phrase, you can recover this phrase in the Mobile wallet under “Settings”. All you will need is the verification code you use to log in to your wallet. If you lost both your recovery phrase and your verification code, you will not be able to recover your funds. This is why we highly recommend storing your recovery phrase in a secure location, such as a text document on a USB drive. BitCanna is unable to access your wallet and recover your funds, so you will need to store this yourself. More information about the Mobile wallet can be found here.
I lost the backup file, password and private key of my Lite wallet. What do I do?
If you lost all three of these, then you have lost access to your funds. The backup file of your wallet only works together with your password. If you lose the password or private key of your Lite wallet, you lose access to the funds within. Therefore, it is very important to store both your backup file, your password and private key in a secure location. This ensures you have multiple ways to regain access to your wallet. BitCanna is unable to access your wallet and recover your funds, so you will need to store this yourself. More information about the Lite wallet, backup, password and private key can be found here.
I lost access to my phone and I am now unable to access my Mobile wallet, what do I do?
If you lose access to your phone, you can use your recovery phrase to recover your Mobile wallet on a new phone. This is why BitCanna always advises backing up your recovery phrase on an external location, such as a text document on a USB drive.

Buying Bitcanna (Bcna) Coins

How do I buy BitCanna coins (BCNA)?
In order to buy BitCanna coins (BCNA), you will have to use a credit card.
To purchase BitCanna coins (BCNA), a minimum of €50,- is required. This method is made available through BitCanna’s partner, Indacoin. BitCanna set a minimum of €50,- because Indacoin charges a fixed fee of around €3 to €4 per transaction. This fee is paid to Indacoin and is necessary to allow you to easily pay for your order. Thanks to this, you will not have to go to a cryptocurrency exchange. Zamnesia will offer you a 15% discount to cover this fee and to ensure you still benefit from paying with BitCanna.

To acquire BCNA coins, please go to BitCanna’s website here.

Please note:
When you buy BitCanna coins for the first time, you will have to go through an identification process (also known as Know Your Customer, KYC). This process is a one-time event, meaning if you would like to buy more BitCanna coins in the future, you will not have to go through this process again.

If you have any questions about this process, please check out the "How to pay with BitCanna" guide for a step-by-step explanation.

For advanced users, there is another option to acquire BCNA coins. BCNA is available at the cryptocurrency exchanges Coindeal and Stex. If you are not familiar with crypto exchanges, we strongly advise using the method mentioned above.
How do I know how many BCNA coins I should buy to pay for my order?
When you create an order at Zamnesia and you choose the BitCanna payment method, your 15% discount will automatically be deducted from your order. If you don’t have a Lite or Mobile wallet yet, or BitCanna coins, please locate the "How to pay with BitCanna" guide on how to download a wallet before you continue with the Zamnesia order. Once you’ve successfully downloaded the wallet, you can click confirm on the Zamnesia checkout page. The amount of BCNA coins required will now appear. These coins can be purchased instantly with a credit card, which is explained in the "How to pay with BitCanna" guide. If you already acquired these coins, you can pay directly for your order.
How high is the transaction fee?
Every transaction made with the BitCanna payment method has a transaction fee. This fee is negligible, and varies based on the occupation of the BitCanna payment network. The transaction fee will be around $0.00001/€0.00001 per transaction. However, purchasing BitCanna with a credit card has a fixed fee of around €3 to €4 per transaction. This fee is paid to Indacoin and is necessary to allow you to easily pay for your order. Thanks to this, you will not have to go to a cryptocurrency exchange.
I bought more BitCanna coins (BCNA) than I spent on my order, what can I do with them?
If you have remaining BitCanna coins (BCNA), you can store them inside your wallet. In case you would like to make another purchase, please be aware that the value of the coins can fluctuate, meaning you can buy more or less with the same amount of coins.
How long does it take for my BCNA to arrive after I buy them from Indacoin?
Once you have finished the identification process, your coins will be sent to your BitCanna address within 15 minutes (on average). If it takes longer than an hour, please contact BitCanna’s partner, Indacoin, with the live chat button on their website. Alternatively, contact BitCanna directly.
Why does the value of the BitCanna coin (BCNA) fluctuate?
The BitCanna coin (BCNA) is traded live on cryptocurrency exchanges. This means that supply and demand on the market determine how much a BitCanna coin is worth at a particular moment.
What does BCNA value fluctuation mean for my BitCanna coins?
This means that the value of the BitCanna coin (BCNA) is not continuously stable. If you decide to store BitCanna coins in your wallet, you will sometimes be able to buy more products with your coins, and sometimes less.
How is the value of BCNA determined?
The value of the Bitcanna Coin (BCNA) is determined by supply and demand on the market.

Paying For Your Zamnesia Order

How high is the transaction fee?
Every transaction made with the BitCanna payment method has a transaction fee. This fee is negligible, and varies based on the occupation of the BitCanna payment network. The transaction fee will be around $0.00001/€0.00001 per transaction. However, purchasing BitCanna with a credit card has a fixed fee of around €3 to €4 per transaction. This fee is paid to Indacoin and is necessary to allow you to easily pay for your order. Thanks to this, you will not have to go to a cryptocurrency exchange.
Will my bank statement show that I bought cannabis-related products?
No, one of the perks of paying with BCNA is that your bank statement will not show what cannabis-related goods you bought, or where you bought them. Only a transaction to Indacoin will be registered. Indacoin is the company through which you can safely and securely purchase your BitCanna (BCNA) coins. You can acquire BitCanna (BCNA) coins here.
Can I change my BCNA to fiat (euros, dollars, or pounds)?
Yes, this is possible. In order to change your BitCanna coins to fiat, you will have to go to a crypto exchange. This process will take place on an external platform, and therefore out of range of BitCanna. If you would like to exchange your BitCanna coins, you can check out this guide.
Can I send my BitCanna coins (BCNA) to someone else?
Yes, if the recipient has a BitCanna wallet, you can. The only thing you will need in order to send BitCanna coins is the recipient's unique wallet address.

Privacy And Security

How does BitCanna ensure the safety of my coins?
BitCanna takes privacy and security very seriously. For that reason, BitCanna is built upon a technology which can guarantee the safety of its users financial data. This technology is called the blockchain. This practically means that BitCanna is not able to access any of your wallets nor the funds inside those wallets.

For this reason, it is very important to make sure to safely store your back-ups and passwords on an external location such as an USB-stick, so you can always recover your wallets in case you lose access to either your computer, mobile device or your wallet(s). You are the sole owner of your wallet, and with that comes responsibility.
What should I do when I want to transfer my Mobile wallet to another device?
In order to transfer your Mobile Wallet on another device, you will need the recovery phrase. The recovery phrase is the 12 unique words which were automatically generated when you created your Mobile Wallet. Without these words, you will not be able to transfer your wallet to another device. More information about the Mobile Wallet can be found here.
What should I do when I want to transfer my Lite wallet to another device?
In order to transfer your Lite wallet to another device, you will need the Lite wallet’s backup file and the password you set when you created the wallet. You can also transfer your Lite wallet by using your wallet’s private key. More information about the backup, password and private key can be found here.
I lost the recovery phrase of my Mobile Wallet. What do I do?
If you still have access to your wallet but you lost your recovery phrase, you can recover this phrase in the Mobile wallet. All you will need is your verification code used to log in to your wallet. If you lost both your recovery phrase and your verification phrase, then you will not be able to recover your funds. This is why we highly recommend storing your recovery phrase in a secure location, such as a text-document on an USB-stick. More information about the Mobile Wallet can be found here.
I lost the backup file, password and private key of my Lite wallet. What do I do?
If you lost all three of these, then you have lost access to your funds. The backup file of your wallet only works together with your password. If you lose the password or private key of your Lite wallet, you lose access to the funds within. Therefore, it is very important to store both your backup file, your password and private key in a secure location. This ensures you have multiple ways to regain access to your wallet. BitCanna is unable to access your wallet and recover your funds, so you will need to store this yourself. More information about the Lite wallet, backup, password and private key can be found here.
I lost access to my phone and can’t access my mobile wallet, what do I do?
When you lose access to your phone, you can use your recovery phrase in order to recover your Mobile Wallet on a new phone. This is why we always advise to back-up your recovery phrase on an external location, such as a text document on an USB-stick.