Cryptocurrencies appear to have infiltrated every aspect of our lives. And the adult industry isn’t going to sit on its hands. Is it possible that smart contracts will be used to define the terms of consensual sex in the near future, or has someone already done so? NOWPayments urges you to go deeper into this topic and discover why crypto and porn are such a good fit.
Cryptocurrency has the potential to alleviate a variety of issues that both users and producers of pornographic material confront on a regular basis.
Crypto payments are successfully used by well-known pornographic content providers.
What problems has the adult industry faced?
There are two sides to every medal. On the one hand, the adult industry is connected with a blissful state of mind, yet there is always a fly in the ointment. Whether you are a buyer or a performer, you will undoubtedly encounter a slew of really unpleasant issues. To begin with, when paying for goods or services, there is a lack of security. Thousands of fake platforms have been built on the internet to far. You risk losing your money if you fall for the lure and input your credit card information. Second, there’s the question of anonymity. After all, paying for pornographic content with a credit card makes it impossible to suppress adult content viewing. Another issue develops for employees. How will I get compensated for my services? There is a 99 percent chance that the payment would be denied, resulting in employees losing their hard-earned money. Receiving cash is both dangerous and inconvenient. Another severe issue is that if you still paid for something on the 18+ website, your funds could be held for up to seven days, with exorbitant costs.
What issues will be addressed by crypto payments for the adult industry?
“Money loves silence,” declared John Rockefeller. Intimate services, on the other hand, value privacy. Many components of the adult entertainment industry are related with a large number of social taboos and prohibitions that people simply want to breach, which creates a problem among sex content consumers. However, leaving a payment card information or a billing account in the process is not always desired. In this instance, cryptocurrency is the best ally in terms of defending the right to privacy by providing anonymous payment options.
Cryptocurrencies also have significant benefits for individuals on the other side of the fence. Financial institutions frequently refuse to execute transactions for crediting money from a porn studio or a customer to their accounts, deeming them suspicious. Sex actors and actresses confront not only public disapproval, but also obstacles when utilizing banking services. As a result, adult industry workers are obliged to accept cash payments, and their safety is threatened. Because payment is sent wallet-to-wallet, without the involvement of banking institutions, crypto payments totally eliminate this issue.
Many laws treat the adult business as a gray area. The line between what is entirely lawful “adult materials” and what is illegal “pornographic content” is thin. And ensuring the security and activity of 18+ platforms requires a payment instrument that does not draw too much notice. Due to bans imposed by payment providers and banks, many of these platforms are forced to close or implement tight restrictions (which considerably reduce their popularity). Cryptocurrency payments entirely eliminate this issue, allowing you to breathe easier.
Crypto payments are the safest payment mechanism for users of sexual material and services. Because fraudulent porn sites may be found around every corner, entering your credit card information is exceedingly risky. With just a slight pushback, a hacker gains access to your bank account information. You don’t need an account to use bitcoins, and all transactions are encrypted.
3. Low fees and high speed
Payments made with a credit card are far inferior than those made using cryptocurrency. A credit card transaction has a large cost, whereas a cryptocurrency transaction is usually quite little. Furthermore, bank transactions sometimes take days to complete. There is no certainty that your cash will not be frozen if you work in the adult business. In turn, crypto payments are processed at breakneck speed.
How does Porn and crypto fit well together?
Crypto and pornography go hand in hand because of the benefits outlined above. And this was rapidly discovered by clever owners of 18+ enterprises. The Legends Room gentlemen’s club, for example, has pioneered a truly novel payment technique. Do you want a stripper to perform a private dance for you? Simply scan the QR code on her body to transfer money to her wallet. Pornhub, the world’s most popular pornographic website, has also taken a step forward and now allows its customers to make instant private payments with cryptocurrency. Cryptocurrency and pornography go together so well that some people gain pleasure from them. As a result, webcam models can buy a unique Lovense toy and utilize it to make money. The toy may be linked to a webcam chat so that it vibrates when tokens are sent to the models. In the chat settings, you can adjust the intensity of the vibration reaction to a particular number of tokens.
Users’ faith and recognition in banks is rapidly eroding over the world. This is a particularly serious problem for users of explicit content. Who wants to waste money that could be spent on something more enjoyable? Are there people who are happy with the speed with which bank payments are made or with the ability to freeze funds? Most likely not. Crypto payments, on the other hand, have no such issues because no banks are required. You can transfer high-speed international payments with crypto without having to worry about the security of your cash or jeopardizing your anonymity.
Crypto payments are a step toward independence for adult industry workers who are weary of being manipulated by banking institutions. When you’re your own bank, you don’t need a bank. No one can put a hold on your funds or refuse to accept the payment.
Despite all of the benefits of cryptocurrencies, some individuals continue to choose the established standards, which is why they eventually run into problems, lose their funds, spend a lot of time and money on bank transfers, and have doubts about their security and authenticity. The decision is always yours, but one thing is certain: once you taste bitcoin, you will never want to go back to fiat money.