Goin’ crypto? In the wake of PayPal’s decision to halt payouts to over a hundred thousand performers who rely on them, Pornhub has suggested cryptocurrency payments as an alternative.
“We are all devastated by PayPal’s decision,” Pornhub management said in a blog post.
“Our currently available payment methods are Paxum, check, verge cryptocurrency and direct deposit,” explains Pornhub’s post. The adult megasite also explains that in order to accept verge (XVG), models need to obtain an XVG accepting wallet.
From Pornhub:
What Type Of Payment Method Is Offered?
Our currently available payment methods are Paxum, Check, Verge Cryptocurrency and Direct Deposit.*
*Direct deposit is currently available for US and Canadian models only.
Paxum is a type of e-wallet. You must have a valid Paxum account in order to receive payment.
Paxum is processed more quickly than checks, but are subject to withdraw fees.
Checks are discreet and have no mention of Pornhub or adult entertainment. They do take longer to receive and cannot be tracked.
To accept Verge cryptocurrency, you’ll need a Verge wallet, which you can get here:
https://vergecurrency.com/wallets/
To update your payment method, just visit the Model Settings section of your profile, and choose your preferred method.
Your payment information MUST be correct within the first 3 business days of the month or else payments will be delayed.
Ex: If you are using Paxum then correct Paxum email; if you are using Direct Deposit then correct Bank Information such as SWIFT codes, address etc.
NOTE: We’ll use the Verge > USD conversion rate from 12:00PM EST on the 6th of each month. Conversion rate is sourced from coinmarketcap.com.
NOTE FOR CANADIAN MODELS USING DIRECT DEPOSIT: We’ll use Bank of Canada’s conversion rate from 12:00PM EST on the 6th of each month. Make sure that the address in your settings tab is the beneficiary’s address and that your bank account is in Canadian dollars.
A report at Bitcoin.com noted:
In response to Pornhub’s Twitter post, many crypto community members used the opportunity to ask the company to accept more digital currencies like BCH, BTC, and ETH. One BCH supporter wrote: “Bitcoin Cash is there to help you and your customers.” “All models should contact Brenna Sparks to help them accept crypto payments,” another person tweeted.
For years now many cryptocurrency advocates have proposed that the adult industry combines forces with the crypto industry. Last spring Pornhub started accepting XVG but also told the public it would also accept ZEC and TRX. Since adding verge to the payment support list, reports detailed last year that only 1% of purchases are made using XVG and the other alternatives (ZEC, TRX) are not yet supported.
One Response
Cryptocurrency is all smoke and mirrors and ripe for scams.