How encryption empowers porn creators in 2021: less freedom

This year, the crypto industry saw a golden opportunity. OnlyFans, a platform known mainly for its adult content, announced that it would ban pornography. Together, the cryptocurrency and the porn industry represent a very profitable merger that is just beginning to happen.

The world of payment methods has a history of hypocrisy, control and ethics, and it often does not support anything related to sex work.

It is said that, Earlier this year, due to pressure from banks and payment processors, OnlyFans decided to close all pornographic content.There are huge backlashes and bans stop A few days after the announcement, it was claimed that the platform had “obtained the necessary guarantees” from the bank.

The founder and CEO of the platform told time The bank refuses to process payments related to adult content.

“OnlyFans stands for tolerance,” they said, but they have been trying to distance themselves from the porn industry and are interested in launching streaming services that do not allow adult content.

For many years, payment methods have been a burden on porn creators worldwide. Their earnings are often greatly affected by the freezing of funds and losses, and because they do not provide too much protection and support for sex workers, they need to be extra careful to avoid fraud and other dangers.

Therefore, anonymous and secure digital wallets are very suitable for this industry. Naturally, many creators and producers have begun to find answers in encryption.

Cryptocurrency is not the only one with a bad reputation

The producer of Cristobal Medoza and one of the co-founders of Argentina’s top porn channel “My Bad Reputation”, he is one of many people who have adopted encryption technology to seek financial stability and more opportunities. He gave us internal comments on his personal experience, allowing us to glimpse the industries that people like to consume but try not to support.

New platforms connecting the pornography and encryption industries are emerging. If it succeeds, it will be a good niche market for all parties-it needs to be simple, safe and well-executed.

This is a two-way demystification: the number of pornographic consumers is very high. If the adult content platform is related to encryption, this may become a blasting ceiling for mainstream adoption.

Medonza explained that the major pornographic platforms have adopted cryptocurrency (payment in Bitcoin and USDT), which is very strict with other payment services provided, and using them will bring too much complexity and disadvantages.

However, many smaller adult content platforms have not yet used encryption, and this has become a major problem, as the conversion of creators’ money into digital assets requires huge fees.

Mendoza added that pornographic creators are often influenced by banks, and he claimed that banks closed the accounts of many people and froze their funds when they discovered that their income was related to adult content.

He commented on the rough days when OnlyFans banned adult content, claiming that a large number of new pornographic platforms began to appear, trying to get a share of a very profitable market.

Someone will always buy shares in that market because it will generate huge profits. In the end, OnlyFans took a step back because they knew they would lose too much money and others would fill their roles quickly.

Mendoza said that his adult content channel pays through Binance, which has become a good choice because “it doesn’t question where the income comes from and how we make money has no type or ethical issues” and they can easily redeem it.

In addition to using encryption as a better payment method, it also allows him and his co-creators to make some investments through transactions and holdings.

Many people in the industry still don’t know how to use encryption as a payment and management tool.

I think [they] Will greatly benefit from encryption…The commission is very low and you can fully control your income.

He mentioned that there are many new projects claiming to link the adult content industry with cryptocurrency, but some are scams, and creators need to be vigilant and start educating themselves on cyber security.

The total market capitalization of crypto on the daily chart is $2.1 trillion | Source: TradingView.com



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