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Pornhub extends cryptocurrencies as a payment option

Pornhub extends cryptocurrencies as a payment option

In the latest update, the world’s greatest adult website, Pornhub, is only accepting crypto for its premium service. The move’s declaration happened today following Visa and Mastercard declining to offer their services to the website. Moreover, recently Pornhub has added privacy coin Monero to its crypto payment options. The credit card giants cut off the Canada-based porn platform following a New York Times article. The article further specified instances of the website allowing videos representing minors and women being assailed.

Visa and Mastercard’s resolution is the most advanced and impactful example of a payment processor barring funds to Pornhub or its players. In November 2019, PayPal started blocking payments to Pornhub performers. Shortly after that, Pornhub began accepting the Verge (XVG), Tron (TRX), and Tether (USDT). Now, Pornhub also allows Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dash (DASH), Ethereum Classic (ETC), Litecoin (LTC), Monero (XMR), NEM (XEM), Tether (USDT), Tron (TRX), Verge (XVG), ZCash (ZEC), and Waves (WAVES).

Pornhub’s crypto acceptance is applicable to limited nations?

However, reports are rife that Pornhub’s crypto-only acceptance is applicable to the selected user-base. It involves North America, the U.K., and Singapore, among others. The only payment option accessible for users with IP addresses in some European Union nations, for example, Amsterdam, Finland, Germany, seems to either be Lastschrift, which involves direct bank debit, or SEPA. It is the bank transfer system for the Eurozone.  

Moreover, Pornhub traffic noticed a significant development after the commencement of the Covid-19 pandemic. The current traffic struck 3.6 billion in August of 2020. This is in accordance with the tracking website SimilarWeb.com. Pornhub withdrew support for credit cards, defaulting subscription for its premium services through the supported cryptocurrencies after blocking payment processors. Most comments on Reddit opined that the rise would create more cryptocurrency adoption from the adult entertainment business. 

Earlier, Pornhub declared that it has commenced receiving payments for Pornhub premium subscription through Bitcoin and Litecoin. The company announced the declaration of the new payment method on its official Twitter handle. Corey Price, Vice President at Pornhub, stated he and his team have been operating continuously to keep up to date with payment methods. Moreover, he stated that accepting Bitcoin and Litecoin is just the commencement of the new technologies that the company was expecting to explore.

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