Cryptocurrency

US-based Payment Processor PayPal Ceases Pornhub Model Payouts

Taking pride in being one of the world’s biggest online payments system, PayPal recently shocked the financial space through its announcement of halting processing of payments of all Pornhub models via its network. The critical news came as an unpleasant surprise for many as the Pornhub industry served as an important clientele base for the US-based payments giant, PayPal.

According to the official report released on the Twitter handle by Pornhub Model Help & Updates, the decision to restrain payouts is likely to affect the livelihoods of the hundred thousand of performers of the adult portal who relied on the payments network in a big way.

The Twitter post has urged the models who had PayPal as their payout method to switch to direct deposit/SEPA, or payment by check in the models setting tab.

Interestingly, soon after the release of this post by the Pornhub Model Help & Updates account, Justin Tron, the honorable spearhead of the TRON Foundation, took to his official Twitter handle to affirm that Pornhub does support $TRX payments. In his post, Justin also called for the introduction of USDT-TRC20 supports.

Binance, the leading crypto exchange opined that PayPal’s withdrawal to facilitate Pornhub models’ payouts is likely to open doors for the cryptocurrencies in the porn industry. Through a Twitter post, the trading exchange has fueled up the probable possibilities for the virtual currencies to become the ultimate payment solution in the porn niche.

Cryptocurrencies are designed in a way that they have an in-built element of maintenance of secrecy and privacy of the users. Undoubtedly, the porn industry is also an ardent supporter of secrecy in the best possible way. Earlier this year, Verge (XVG)– a privacy-based cryptocurrency- teamed up with PornHub to strengthen its client base. The project garnered a lot of attention from the crypto arena and was welcomed as a testing ground for porn and crypto tie-ups.

Apart from PornHub, another major adult site CamSoda also started accepting Bitcoin payments this year with an intention to facilitate easy payment channels for its customers. CamSoda also uses ETH, Litecoin, Tron, Monero, and Zcash as payment options.

With cryptocurrencies evolving as a strong medium for processing payments and conducting trading activities, it won’t be a surprise if it takes over the porn industry in the coming days. If biggies like PornHub and CamSoda are showing interest in this domain, it becomes quite evident that the digital currency arena will expand heaps and bounds in the future.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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