The adult website records a 400% increase in crypto payments
February 11, 2021
February 11, 2021
Popular real-time streaming adult content provider Stripchat is seeing a surge in cryptocurrency payments. Through a blog post, the entertainment and social streaming platform pointed out that cryptocurrency is rapidly turning into the preferred form of payment for several users and even artists on the webcam-centric website.
A rough estimate indicates that the platform offers more than 300,000 templates and records around 60 million (average) monthly visitors according to last year’s Stripchat stats.
Using cryptocurrencies for adult entertainment is not a new phenomenon as they automatically create an extra layer of anonymity.
However, Stripchat and many other webcams the platforms experienced considerable growth last year due to the Covid-19 pandemic and subsequent travel bans. Stripchat saw a 72% increase in traffic and hosted more than 2 billion sessions last year.
Max Bennet, VP of New Media at Stripchat, said;
“Both users and models are more actively using cryptocurrencies as their preferred payment methods. We have seen a 400% increase in the number of cryptocurrency transactions since early 2020, and 10% of all active models on Stripchat use cryptocurrencies as their primary payment method. “
After Elon Musk’s tweets highlighting “Dogecoin is the people’s Crypto”, the platform quickly adopted the crypto meme by accepting it as a form of payment. Bennet further stated:
“If adding DOGE can improve the experience of Elon Musk and the people on Stripchat, we are here to accept it.”
Along with Stripchat, there are numerous cam-focused live streaming websites that accept Bitcoin and other altcoins as payments. This includes CamSoda, LiveJasmin, and Chaturbate, among others.
Pornhub also took part in the Dogecoin mania by starting to accept it as a form of payment along with three other new cryptocurrencies; USDC, BNB and XRP. The adult website also continued to expand the list of cryptocurrencies it accepts as payment and currently supports sixteen cryptocurrencies following the suspension of services by credit card companies Visa and MasterCard.