Adult entertainment websites are cashing out big from cryptocurrencies and Stripchat has put plans in place to join the crypto train. Between last year and this year, lots of adult sites have seen a huge boost in their earnings through cryptocurrency.
400% Increase in Crypto Payments
Stripchat says that it has observed an increase in the number of people that prefer crypto payments instead of fiat. Performers or models are also showing more interest in receiving cryptocurrency for their services.
The COVID-19 pandemic forced many people to stay at home, which in turn, increased the use of adult sites such as Stripchat. According to a blog post by the entertainment company, traffic on its site went up 72% just after the pandemic began last year.
The community at Stripchat is a growing one, a very fertile ground for crypto. According to the statistics Stripchat shared, it serves about 60 million visitors a month. The company’s models are over 300,000, with some earning as high as $965 an hour.
“Both users and models are more actively using crypto as their preferred payment methods,” Max Bennet, VP of New Media at Stripchat says.
“We have seen a 400% increase in the number of cryptocurrency transactions since the beginning of 2020,” he states.
Bennet reveals a good number of models are embracing crypto as well. “10% of all active models on Stripchat are using crypto as their primary payout method.” Cryptocurrencies give both sender and receiver more anonymity than traditional currency would, and is probably the reason why many are turning to it now.
More Adult Companies Turn to Crypto
The American-based porn company is not the only one jumping on the crypto bandwagon. LiveJasmin, an adult streaming website, started accepting payments in cryptocurrency as far back as 2018. Last year, an Italian adult platform called PornVisory, announced it would pay people in crypto for watching content on its site.
PornHub, the world’s most popular adult platform, also started adding more crypto payments options. This came after it was cut off by both Visa and Mastercard over a slandering article. For its premium subscription, it takes only crypto. The site accepts payment in cryptos like BTC, Ethereum, DOGE, and BNB.
