Pornhub starts accepting cryptocurrency as a payment method

Pornhub recently became another big business that accepts cryptocurrency as a payment method. The company announced this fact directly on its website in an official announcement from 17th April that also acts as a sign-up page for people that would like to pay for Pornhub Premium using cryptocurrency.

The currency Pornhub chose to accept is, however, not Bitcoin, which could be the obvious choice for many people without a deeper knowledge of the cryptocurrency market. Pornhub decided to start accepting cryptocurrency called Verge, which focuses primarily on security and anonymity of its users. That is definitely something very important in the adult entertainment industry.

Pornhub touches on why Verge was chosen in the short announcement itself: “Building on Verge’s core values of security, anonymity and practicality, the introduction of this cryptocurrency as a means of payment Pornhub signifies an important foray into the future from the industry that is always on the cutting edge of technology.”

After the announcement, the Verge cryptocurrency has seen a growth in value, but a decrease that followed has brought it even lower than it was before Pornhub shared its plans with the world. Verge remains very volatile and the value is currently low, less than $0.1 at the time of writing this article.

The rising acceptance of cryptocurrency across different fields

The news about Pornhub accepting Verge as a form of payment for its premium subscription is great news for the cryptocurrency market in general.

One of the main issues with cryptocurrencies was (and generally still is) the lack of ways to use them in real life. That’s why any business or field that starts accepting any cryptocurrency as a valid payment method is great news for the crypto market and the future of cryptocurrencies in general.

The benefits of privacy and security

As Pornhub announced, the Verge’s focus on privacy and security is one of the reasons why the company decided to choose this specific currency out of the huge list of cryptocurrencies that are already present on the market. And it’s these two characteristics that make cryptocurrencies the ideal payment method for certain fields. Adult entertainment definitely is one of them.

Another can be found in the field of online gambling and online casinos. People that gamble online want their money to be safe and their identity to be protected. Maybe not all, but definitely a lot of them do. This might be a reason why many online casinos accept Bitcoin or other cryptocurrencies as a form of payment nowadays and there are more to join this group in the future.

There is also at least one casino that accepts only cryptocurrencies and doesn’t support any other payment methods. The online casino called LuckyBity did this to achieve a state of total anonymity. The players only need an e-mail address to sign up, deposit money, play and even withdraw their winnings if they manage to win something. This wasn’t achieved without any issues, but so far it seems to be working well.

Is the list of cryptocurrencies getting too long?

This news is great for everybody interested or invested in the cryptocurrency market. Pornhub joined the list of companies accepting cryptocurrencies as a payment for their products and services and more businesses are expected to follow. If everything goes well, cryptocurrencies could become a widely accepted payment method in the future.

The sheer number of different cryptocurrencies might become an issues though. There is already over 1,500 of them on the market and new are added basically every day. If this trend continues, it might be really difficult for business to choose the correct currency to accept. Only future will tell what the market will look like in a couple of years.

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