LOS ANGELES — Pornhub is among the adult entertainment companies seeing a recent boost in cryptocurrency action and is reporting that 10 percent of the models on its Modelhub platform have opted for crypto payouts.
According to the company, this figure is tenfold the percentage of fans remitting crypto payments across their network of sites.
Pornhub VP Corey Price revealed that the number of fans paying for Pornhub’s premium features using cryptocurrency has been stable at around 1 percent since the option was offered in 2018, but models have driven up the usage rate, taking advantage of crypto’s anonymity and efficiency.
“There are many reasons why cryptocurrencies are viable in the adult entertainment industry,” Price explained. “We’ve found that the high speed and low cost of transactions, combined with the anonymity benefits, make it especially appealing to models over traditional tender.”
The company supports five cryptocurrencies, including Verge, Horizen, TRON, TRON-based USDT and PumaPay.
“The USDT integration with Pornhub was particularly interesting since using USDT largely eliminates the issue of price volatility, which is one of the biggest barriers standing in the way of cryptocurrencies becoming commonly accepted as a means of payment,” Peter Wind wrote for CoinCodex.
“We recently added [USDT] because it is stable and backed by traditional fiat currency, which is the first crypto of this type we are offering to our models, as a part of a larger goal to offer numerous and flexible payment options,” Price told The Block. “We are continually exploring a wide range of options to cater to what works best for our models and fans.”
Price also noted that Pornhub has hired a cryptocurrency expert and is evaluating future support for bitcoin and Ethereum to “provide its users with as many user-friendly and convenient payment options as possible.”
