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Censorship-resistant Crypto to the Rescue as PayPal Ditches PornHub

Less Than 1 Percent of Subscribers Use PornHub’s Cryptocurrency Payment Option

Reading Time: 2 minutes by on October 1, 2018 Adoption, Altcoins, Business, Finance, News
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While Pornhub may have generated a lot of excitement as one of the first adult entertainment companies to accept cryptocurrencies, their subscribers do not share the same level of enthusiasm. Hard Fork reported on September 28, 2018, that despite offering multiple cryptocurrency payment options such as Verge (XVG), Tron (TRX), and Horizen/ZenCash (ZEN), less than 1 percent of users opt for the cryptocurrency payment option on the site.

Pornhub Remains Optimistic

According to Hard Fork, Pornhub mentioned in an email that cryptocurrency payments made up “less than 1 percent of purchases made” on the pornographic website. Although 1 percent is a very low statistic, Pornhub has on average 81 million visitors every day, as seen in its 2017 report. While 1 percent of approximately 28.5 billion visitors per year is a relatively large number, Pornhub did not disclose the number of premium subscribers on their website.

Pornhub, however, remains positive and optimistic about cryptocurrencies and blockchain technology. The pornographic site expressed in the email that their users and subscribers should expect greater use and adoption of cryptocurrencies and blockchain technology on their website shortly.

Cryptocurrencies Provide Users with Greater Security and Anonymity

Pornhub initially offered cryptocurrencies as a method of payment due to an online campaign on its forum. The campaign requested for cryptocurrencies, specifically Verge (XVG) for its near-instant, anonymous, secure, and private transactions. Pornhub responded positively and partnered with Verge (XVG) in April 2018. They soon introduced Tron (TRX) and Horizen/ZenCash (ZEN) two months later, in June 2018.

The adult entertainment site also plans to rollout PumaPay, an ethereum-based payment processor, designed to provide flexible payment options over the blockchain. Pornhub partnered with PumaPay last month, in August 2018. While it’s unclear when Pornhub will implement the PumaPay payment solution, PumaPay mentioned that they would go live during the first quarter of 2019. According to PumaPay’s blog, the payment processor will also partner with TrafficJunky, PornHub’s traffic and advertising network.

Pornhub is, however, not the only adult entertainment company keen to explore cryptocurrencies and blockchain technology. Playboy enterprises partnered with Global Blockchain Technologies (GBT) in March 2018 to integrate the Vice Industry Token (VIT) with the online Playboy platform. The LA Times reported that unfortunately, the partnership resulted in Playboy filing a lawsuit against GBT for failing to deliver the agreement in the contract.

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