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Use Of Cryptocurrencies In Porn Industry

Bitcoin and cryptocurrency payments have been gaining popularity in the porn industry. Nowadays, in fact, most adult websites accept cryptocurrencies as a means of payment, such as Bitcoin, Ethereum, Litecoin, and TRON, or those with a high level of privacy such as Monero and Zcash.

In addition, some of them, including Pornhub, pay their “artists” using cryptocurrencies, such as Tether Dollar (USDT) through the Cosmo Payment or TronLink payment app. There are even some websites that only use cryptocurrencies, such as the Spankchain webcam hosting platform that uses its own SPANK cryptocurrency on SpankPay to pay performers with only about 5% commission, compared to the 50% usually held by the most common platforms.

Some pornstars have also become cryptocurrency supporters. For example, Brenna Sparks gave an interview in which she talked about the transformation of this industry, as she talked about Bitcoin.

Also, some of them have revealed that activities in this sector are still considered to be high risk, even from a financial point of view, to the extent that artists are burdened with exorbitant costs for processing payments or credit card charges.

They also allow maintaining a good level of secrecy for the users who use them on these websites, avoiding, for example, the discovery of where they spent their money, details which can be found on credit card statements.

In this article, we will see all about Bitcoin, cryptocurrency, blockchain, and the porn industry!

The Payment System

It seems that the habit of making cryptocurrency payments on adult websites has not yet become widespread.

The marketing manager of CoinGate’s payment processor, Veronika Mishura, revealed that during the whole of 2019 they processed only 1,400 payments via Lightning Network on porn websites such as LiveJasmin and CooMeet, with an average amount of only 12 euros.

Increasing Number of Porn and users’ visits

It’s widely known that words as “porn” and “sex” are among the most searched ones on Google and it’s completely understandable why people have come across such content.

According to an article by Forbes outlining how much of the Internet is porn, for the year 2010, out of the top 1 million web sites, 42 227 were sex-related. That occupies only 4% of the Internet space.

For example, in 2016, Pornhub had 23 billion visits, which make around 64 million people a day viewing just one mainstream website.

In terms of content watched, and this is truly astounding, 5246 centuries’ worth of footage was viewed in just one year.

Data gathered by SimilarWeb showing the monthly traffic back in June 2019 allows people to see that 3.36 billion people have searched for and visited Pornhub, 2.26 billion have visited Amazon, and 1.81 billion have visited Netflix.

Relationship between Blockchain and Porn

One of the most important features that blockchain can offer is the possibility for online porn users to pay for services and content. Purchasing those through a blockchain network means that they can leave no trace of their true identity nor let it be revealed.

One of the world’s leading adult entertainment websites such as PornHub is one of the platforms allowing usage of cryptocurrency as a method of payment within the website.

The great thing about blockchain and the porn industry is the ability to stimulate and reward the content creators, curators, or even porn viewers directly using different fungible or non-fungible blockchain-based tokens or coins. The most used cryptocurrencies include Bitcoin, Litecoin, Bitcoin Cash, Ether, TRON, Monero, and Zcash, but such platforms have the chance to develop their own blockchain-based utility token used only to be utilized in their platform.

Users have the chance to send token tips to online pornstars and also in order to gain more popularity. Porn sites can send their users tokens for encouraging them to watch and to tip through their streaming platforms. This can also be achieved in a truly peer-to-peer way without any intermediary cutting the cost for the middlemen.

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