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Wax is a form of cannabis concentrate. It looks like a thick, oily substance. Many people say it resembles honey. Cannabis wax is exceptionally potent and contains 75 to 90 percent tetrahydrocannabinol (THC) levels. It is smoked using a dab oil rig that vaporizes the concentrate and gives the user an almost instant high. Its high concentration level of THC makes wax extremely pricey at dispensaries. It typically costs up to four times more per gram compared to traditional cannabis bud.