Cryptocurrency as a payment option is gradually becoming a universal means of payment. Several businesses have reduced the earlier rigidity of accepting only fiat currencies to shift their digital assets stance. Big brands like Paypal, WordPress, and AmericaExpress have shown their endorsement of the digital assets industry differently. The credit card company also invested in a well-known exchange, even before the iconic surge of Bitcoin.
Being the largest cryptocurrency globally, Bitcoin is usually the preferred crypto exchange based on its market value and exposure. Notwithstanding, with Bitcoin’s success, many other currencies sprung forth to broaden further the crypto market, creating a more comprehensive range of options.
Pornhub now accepts crypto
The conversial relationship between both MasterCard and Visa made the popular website find a default means of payment. The two remittance companies cut ties with Pornhub due to some issues, making the adult website find another payment method for its premium services.
The site is a trendy website amongst websites of its niche and with some statistics show it as one of the top ten most visited websites in the world. Some claims suggest that the global pandemic and stay-at-home regulations increased the visits to the site.
The two remittances company alleged that Pornhub hosted several underaged female videos, making the companies ban their website. The adult website explained that the allegations were unwarranted as they depicted the statement as untrue and irresponsible.
After which, the companies stopped transactions involving Pornhub. The aftermath of the ban made the entertainment site remove many videos from its platform that might have anything to do with the accusations against it. Despite the scrutiny, the ban is still in place, so cryptocurrency is the only option the company will put in place.
Ban opened the opportunity for cryptocurrency
In other news, the ban helped Pornhub explore its other options, and one of the options being a cryptocurrency. At first, the company collaborated with the Verge to make crypto-based payments possible, but soon after, new cryptos joined the partnership like TRX. Late this year, new sources suggest that the hub now accepts payment in Bitcoin and Litcoin.
Digital assets are enjoying the unique opportunity the ban paved for them. Now, Pornhub loves the anonymity of the payment options, which protects the privacy of consumers. The adult entertainment website shared the new additions via Twitter on September 1st.
The well-known website accepts several cryptocurrencies, including the two most-used, which are BTC and ETH. Bitcoin cash, dash, Ethereum classic, and others are accepted as well. Currently, the website is still unable to process credit card transactions. Online payment giant Paypal banned the website some time ago from using it to pay its models.
The crypto community celebrates the new acceptance by Pornhub and hope it would adopt more digital assets as time goes. The two credit card companies received some backlash for their ban also. Everyone understands that they are trying to detach themselves from a possible lawsuit that might arise from their collaboration. Some pointed out that they are not the right ‘entities’ to outline the problems from the column where the information was released.
