The internet has been evolving and changing throughout the years, but the adult entertainment industry was always one of the most important ones. Nowadays, the industry handles several billions of dollars and has reached several most of the countries around the world. With digital assets, there could be some benefits for individuals and for firms as well.

Cryptocurrencies In The Adult Entertainment Industry

In 2018, Pornhub, one of the largest sites in the world, has received 33.5 billion visits through its webpage. That means that they were receiving 13.7 million visits per day. In just a minute, 201,405 videos are watched and 64,000 visitors are online.

According to data about the industry, porn handles a minimum of $6 billion and an estimated $15 billion with mid estimates. That would be more than the NBA, Hollywood, Netflix, Viacom and the NFL.

Indeed, the porn industry has also been adapting to technological changes and adoption. As soon as in 1977, when VHS expanded around the world, the porn industry was able to spread them all over the world. As reported by VogoV, by the end of 2018, there are going to be 470 sites that accept digital currencies. In addition to it, 50 webcam platforms and 35 sex shops are also accepting virtual currencies. Although this shows an interesting growth, there are many sites that could adopt cryptos.

There are some sites such as Naughty America, xHamster, PornHub and others that have already signed partnerships with different digital assets such as Horizen, Tron (TRX) and Verge (XVG).

According to data provided by fightthenewdrug.com, Porn is actively consumed by millennials that have an active social life and outgoing lifestyle and active social life. However, they want to remain private and not inform what they watch and consume in their private time. At the same time, this social group doesn’t want to give information about what they purchase and the things they pay on these sites.

At the same time, entering card details in some fraudulent websites could lead to larger problems. For example, if a viewer gives information about his bank account or address, it could be used against him in the future. And fraudulent sites are everywhere, specifically in this industry.

In addition to it, there are several adult performers that had problems with different banks that didn’t want to offer services to them due to the fact they are working in this industry. This is why several performers have to take cash payments, which tends to be somehow difficult in many cases.

Bitcoin (BTC), as the first and largest cryptocurrency in the market, is the most used virtual currency in the porn industry as well. However, there are some sites such as PornHub hat introduced crypto payments but accepting Verge rather than Bitcoin.

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The firm decided to use Verge because it provides more anonymity features than Bitcoin and other digital assets. There are some virtual currencies that provide privacy features and help users remain private when processing payments.

Verge uses the unique Wrath Protocol that hides every single part of the transaction from the blockchain with the exception of the amount that was sent or received. That means that the blockchain will not have a record of the purchase and it will not be traced back to a specific individual. Furthermore, Verge is faster and more scalable than Bitcoin, which is also a very positive thing for both the customer and the seller of the services.

Back in June 2017, Pornhub has also sarted to accept Tron. CamSoda and other platforms followed the trend and decided to accept other digital currencies as well, including Bitcoin, Litecoin (LTC) and Ethereum (ETH).

This shows that the industry is not biased towards one coin or a specific digital currency, instead, different pages accepted a wide range of cryptocurrencies.

As cryptocurrencies expand and reach new markets, shops, merchants and continue to be developed and improved, the adult entertainment industry is going to be accepting and using digital assets as well.

There are already many sites working with cryptos but the number of platforms could increase in the future. The adoption of these virtual currencies by the adult entertainment industry is going to help crypto users to spend their digital assets.

The views and opinions expressed in the article Could Digital Assets Help The Porn Industry? How Can Crypto Payments Benefit Adult Entertainment? do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research..

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