With full cannabis legalization hitting Canada on Oct. 17, investors are wondering which pot penny stocks should be on their radar.
And the top marijuana penny stocks to watch right now are companies that can offer services throughout the globe.
You see, it doesn't matter where marijuana is legal.
These companies have services or products that are borderless.
That makes them two of the top pot stocks to watch right now.
And the first cannabis penny stock on our watch list is utilizing blockchain technology to transform the industry...
Pot Penny Stocks to Watch, No. 2: Leafbuyer Technologies Inc.
Headquartered in Colorado, Leafbuyer Technologies Inc. (OTCMKTS: LBUY) offers discounts and deals for marijuana on its website.
It also provides information about marijuana laws and estimates on cannabis prices.
We're watching LBUY today because the company is developing a "large-scale platform based on blockchain technology," according to MarijuanaStocks.com.
There were few details released by the company in its Feb. 14 announcement.
But the company did say blockchain technology will allow users to register and participate in "special deals."
THREE STOCKS: Any one of these cannabis companies could potentially deliver a 1,000% windfall. Click here to learn more...
You see, the blockchain technology could streamline purchasing marijuana online.
Through a blockchain program, the technology could identify who is a medical marijuana patient or an individual who lives in a state where recreational marijuana use is legal.
The cannabis user could then theoretically pay for marijuana using the blockchain. The dispensary would receive its part of the sale, and Leafbuyer could receive a commission for promoting the deal.
With a streamlined process, more dispensaries may want to pay Leafbuyer to promote deals.
To be clear, Leafbuyer did not say this is how its program will work, but it's just one way blockchain technology could be used to generate more income for LBUY.
But we're still excited about the future. Blockchain technology is in its infancy, and the global blockchain industry was worth just $339.5 million in 2017, according to Statista.
Statista expects that to skyrocket 577.46% to $2.3 billion by 2021.
And our next marijuana stock to watch could be one of the "safest" ways to play the $10 billion cannabis market...
Marijuana Penny Stocks to Watch, No. 1: Blue Line Protection Group Inc.
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Founded in 2006, Blue Line Protection Group Inc. (OTCMKTS: BLPG) provides protection, logistics, and compliance services to businesses in the legal U.S. cannabis industry.
One of its most important protection services is the transportation and storage of cash.
You see, marijuana businesses in the United States conduct all of their business in cash because cannabis is still illegal under federal law. Marijuana dispensaries can't open bank accounts and process credit card transactions since banks fear federal lawsuits or asset forfeiture.
Unfortunately, operating as a cash-only business increases the odds that marijuana dispensaries will be robbed.
According to business development firm SIVA Enterprises, the odds of a cannabis dispensary getting burglarized in 2015 were 50%. In comparison, banks only had a 34% chance of being burglarized in 2009, while convenience and liquor stores only had a 20% chance.
Securely transporting and storing cash is a service every cannabis dispensary needs right now.
And on Feb. 13, Blue Line announced plans to open a cash vaulting and processing facility with Hypur to serve marijuana-related businesses and cash-intensive businesses in Nevada.
Hypur is a financial tech company, and the collaboration will provide businesses with tools to schedule cash deposit pickups and withdrawals. It will also provide a real-time ledger to track account balances and delivery verification of funds when they reach their destination.
Blue Line will provide the muscle with armored transportation services.
This service is expected to launch in Q2 2018, according to MarijuanaStocks.com.
These 3 Stocks Are the Key to 2018's Greatest Profits
The 2018 midterm election was a turning point for the cannabis industry.
We expect nothing short of historic profits by the end of the year.
But not all pot stocks will hand you life-changing wins. In fact, often the companies making headlines are least likely to see the biggest gains.
These three stocks, on the other hand, are flying under the radar... for now. Each of them could see exponential stock price acceleration at any moment, and if you get in before that happens, you could turn a token stake into a lifetime of wealth.
I don't know of any other sector providing anywhere near this level of growth now.