Adult industry also tapping into the crypto market? SpankChain to launch encrypted payment services for adult content

The adult industry-focused blockchain project SpankChain has launched a cryptocurrency payment platform called SpankPay, aiming to assist adult content providers in accepting cryptocurrency payments through blockchain technology.

Due to the anonymous and censorship-resistant nature of cryptocurrencies, they have become a popular payment method in the adult entertainment industry. Compared to traditional payment services, adult websites, webcam sites, and online adult stores are gradually shifting towards using cryptocurrencies instead of fiat currencies, as similar businesses often face restrictions and higher transaction fees.

Currently, SpankPay allows cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), as well as privacy coins like Zcash (ZEC) and Monero (XMR).

CEO of SpankChain, Ameen Soleimani, stated:

Through SpankPay, we can provide direct value to adult merchants by helping them accept crypto, avoiding chargebacks, and reaching a global audience.

It is said that the service offers instant transactions with just a click. SpankPay charges a fee of 0.5% per transaction, significantly lower than the 3% credit card fees.

Furthermore, performers can rely on the immutability and censorship resistance of blockchain technology to receive crypto payments directly from their clients.

From the customer's perspective, crypto provides a more discreet payment method for adult websites, without transactions being recorded on bank statements.

Lastly, with no intermediaries involved, transaction costs are lower for all parties. In recent years, many adult services have faced issues with credit card, bank, and payment service rejections or closures, as well as scrutiny for being in the adult industry.

Founder of JustFor.Fans, Dominic Ford, mentioned:

We are thrilled to offer cryptocurrency payment options to our subscribers. With SpankChain, we no longer have to worry about being shut down for being an adult company.

Due to educational barriers and the high volatility of cryptocurrencies, they have not yet entered the mainstream market. Nevertheless, it is evident that cryptocurrency adoption is on the rise, and it is only a matter of time before it becomes more widespread, as seen in the adult industry discussed in this article.

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