LOS ANGELES — Claiming that “cryptocurrencies can take over the adult industry,” a new report reveals how and where consumers can use their Bitcoin and other cryptos to purchase porn, helping to further mainstream the process.
“Nowadays, using your hard-earned crypto on porn sites has never been easier,” Adam Slater writes for Asia Crypto Today. “Most mainstream [adult] sites accept cryptocurrencies and hundreds of smaller ones do too.”
Slater pointed to live cam sites such as CamSoda, which now accepts Bitcoin, Ethereum, Litecoin and Tron, as well as privacy tokens Monero and Zcash; while in Asia, Swag is accepting Mithril payments.
From Pornhub paying performers in crypto, using Tether and Cosmo Payment through the TronLink wallet; to the rise of sites embracing cryptocurrencies, such as live cam platforms, the evidence is clear that adult and crypto are colliding — even if the adoption process among companies, creators and consumers is slower and more cumbersome than many had hoped for.
The article notes that performers such as Breanna Sparks prefer payouts in Bitcoin because of problems with traditional banks and services such as PayPal, due to the nature of their profession and corporate policies. Add-in the benefits of offering content without the risk of fraudulent chargebacks and accepting crypto becomes a compelling approach to maximizing profitability.
"There’s no questions asked, we’ve never had anybody rule in our favor," Allie Eve Knox, an adult performer and "SpankChain evangelist," recently told Newsweek about credit card chargebacks. "We’ve never had it go well. They just take the money from our accounts and that’s it."
Knox also cites the enhanced consumer privacy that crypto transactions offer.
“The benefits for both viewer and performer are clearly there. However, in an industry that is mainly used for free and without a higher mainstream adoption, it is hard to see cryptocurrencies completely taking over soon,” Slater concluded. “Yet, with governments, major corporations and other more mainstream avenues looking at entering the cryptocurrency sphere, in the long term, it would appear that the industry is set for a boost. Don’t be surprised if the porn industry adapts to the changing times again and are the leading innovators and adopters of cryptocurrencies.”
The full story is available here.
