Pornhub had previously declared that it would turn to cryptocurrencies as a payment option for its adult models, following PayPal’s decision to no longer serve them. The company has fulfilled its promise by adding Tether (USDT) as a payment option on its platform.
Pornhub Chooses Tether As Payment Option
Financial service giant, PayPal,has decided to stop providing services to Pornhub, one of the largest porn collection platforms in the world. Pornhub declared that it would turn to cryptocurrencies as a payment option, and it has done so by adding USDT to its platform.
The company recently announced that it had added three new payment methods to its platform, including the USDT. Pornhub mentioned on its blog post, published a few hours ago, that following PayPal’s decision to stop payouts to thousands of models a few weeks ago, they have been working hard to start the year on a good note and to offer their clients more payment options to ensure convenience.
They stated that, “The first bit of good news is that we added USDT to your payout options. For those of you who may not know, USDT is a cryptocurrency that follows the US dollar, meaning one USDT token is equal to one US dollar. USDT transactions can be done globally within a few seconds and there are no fees.”
The partnership between USDT and Tron will be helpful in this latest development. That is, the TRONnetwork and USDT have partnered up, and now, as a result, Pornhub can now pay their models securely through the crypto wallet, TRONlink.
The USDT has been experiencing massive growth since its partnership with TRON, which saw it go live on the TRON blockchain. At the moment, TRC20 tethers make up roughly 22% of the total USDT token supplies.
Cryptocurrency Adoption Increases
The acceptance of USDT on Pornhub is a massive success for the cryptocurrency world. This is because Pornhub is currently the largest porn site and one of the most viewed websites in the world, averaging over 90 million visits per day.
Justin Sun, the head of Tron, came out to urge Pornhub visitors to support this latest development. He tweeted that “If you’re on Pornhub, stop what you’re doing. USDT is now an option for models on Pornhub! Pornhub is using USDT-TRON to support models seeking payment solutions. This is a brilliant way to support the victims of centralized payment platforms like PayPal.”
This latest development increases the adoption of cryptocurrencies. In November last year, PayPal decided to block the payout of adult performers on Pornhub, who make a living from the platform. This forced Pornhub to start looking for alternatives and they have now finally added USDT, Cosmo Payment, and direct deposits as new payout options for their adult performers.
This isn’t the first time Pornhub is venturing into the cryptocurrency world. In 2018, the adult film platform started accepting a few cryptocurrencies from its users, including Tron, Verge, and Horizen. Pornhub acknowledges the value of cryptocurrencies in the adult entertainment sector due to their privacy-centric feature and is looking forward to adopting more crypto options in the future.