Pornhub, the largest porn site on the internet, took a major hit last week after PayPal (PYPL) stopped processing payouts from the platform, a decision the site claims affects over 100,000 performers.
A PayPal spokesperson told Vice at the time, “Following a review, we have discovered that Pornhub has made certain business payments through PayPal without seeking our permission. We have taken action to stop these transactions from occurring.”
While the loss of PayPal is undoubtedly a major hit to the site’s models and users, some are taking it as a chance to try out the site’s less-centralized payment options like Verge (XVG).
Riley Steele, the 486th-ranked porn star on Pornhub and star of cult classic Piranha 3D, has been testing out cryptocurrency as an alternative to traditional payment types for her work.
“I’m currently experimenting with using cryptocurrency for transactions and hope to transition fully to crypto payments by 2020,” Steele said in a recent statement provided to SludgeFeed. “In an attempt to get more independent business people like me to adopt cryptocurrency, companies like [Verge] are making it easier for circumspect customers to accept crypto payments, but it’s still a struggle to convince long-time PayPal users to get on board. My personal business still isn’t as lucrative as it was five years ago.”
Pornhub added XVG as a payment option in 2018 — a somewhat controversial event at the time as Verge raised significant community funds to form the partnership. While it looks like the bet is starting to pay off, convincing customers to switch to crypto may require a bit of work.
“Adopting cryptocurrency isn’t merely choosing an alternative form of payment; it’s a moral position for sex workers, our customers, and those that advocate for the right to purchase any lawful service we choose, free from discrimination and bigotry,” added Steele, condemning PayPal for its discriminatory practices against the sex work community.
Verge isn’t the only cryptocurrency accepted on Pornhub, with alternatives like TRON (TRX) also available as payment options. Although, XVG appears to be taking the lead in terms of adoption and awareness.
XVG is currently down 5.6% on the day to $0.004350, giving the altcoin a $69.9 million market cap.
Related: PayPal Stops Payouts for Pornhub Models, Opening the Door for Crypto Adoption
Recent: PayPal’s CEO Says He Only Owns One Cryptocurrency: Bitcoin (BTC)
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
