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The Adult Entertainment Industry Could Turn To Crypto after Paypal Drops PornHub

The Adult Entertainment Industry Could Turn To Crypto after Paypal Drops PornHub

PayPal recently announced it would no longer offer its services to PornHub users. AS a result, performers on the platform will now be forced to use alternative means, which include crypto. Some leaders in the crypto industry have touted this developed as the catalyst that could lead to the mainstream adoption of crypto.

The use of crypto in the adult entertainment market has seen a lot of growth in the recent past. Various platforms today allow their users to pay for premium membership using crypto. Some experts in the crypto world are claiming this latest move is helping to show the benefit of crypto; being censorship proof.

What PornHub had to Say

According to a statement issued by PornHub, users will no longer be able to use PayPal’s services on the platform. It has advised its entertainers to use alternative payment options available on the platform. About 100,000 performers were using the platform and this could deal a huge blow to their earnings. Some of the alternative payment options available to them include the ability to use crypto.

Crypto Adoption Could Save the Industry

Some notable people in the crypto industry have suggested this could be good news for the mass adoption of crypto. This is according to a tweet by Changpeng Zhao, the CEO of Binance. Besides Zhao, the head of TRON, Justin Sun, also tweeted about the development. In his tweet, he noted that PornHub already accepts TRX payments. He also suggested that the platform might start accepting USDT TRC20 in the near future.

PornHub has already been working with the crypto industry. For instance, it allows Canadian users to pay their performers using the XVG token. There have also been reports that NetCents, which is already one of PornHub’s payment partners, recently announced that it was working with Ripple. As a result, this could see XRP added as a payment option on PornHub in the coming months.

While crypto adoption might not have got off to a great start in the adult entertainment sector, recent moves by regulators and major firms in the financial world seems to be changing all that. Most players in the industry now see it as the only realistic means of resisting censorship.

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