Dozens of adult websites are getting ready to accept cryptocurrency due to intimate.io, a new startup launching a crypto payment gateway.
It may be hard for some to believe, but adult websites helped fuel the rise of the internet. A large amount of internet traffic was due to people looking for porn to watch. Even today, adult websites remain insanely popular. PornHub got 23 billion(!) visits in 2016 alone. The world of cryptocurrency and adult websites are about to merge due to intimate.io, a new startup that is enabling scores of adult websites to begin accepting various cryptocurrencies for payment.
Cryptocurrency and Porn
Over the last couple of years, there have been a number of cryptocurrencies created exclusively for use on adult websites. Most of those coins have disappeared as they were not widely used. Today, there are just a handful, such as PumaPay, Vice Industries Token, and Spankchain.
Australia-based intimate.io is looking to shake up the online adult entertainment industry. The company is launching a crypto payments portal that will allow adult websites to accept Bitcoin, Ethereum, Binance Coin, and intimate tokens (ITM), the company’s own native crypto.
The company announced that it will operate on the websites of at least 60 partners in just the first half of this year alone. Reuben Coppa, the CEO of intimate, says that’s just the start as he expects to sign up to 20 more partners just from the last few adult industry events they’ve attended.
A Great Match
Cryptocurrency and adult websites are a perfect fit for one another. First, the anonymity offered by crypto is a welcome relief to those who don’t want their adult viewing habits to show up on credit card statements.
Then there’s the fact that credit card companies charge a high commission for pornography and adult sites due to them being considered high risk. MasterCard and Visa can charge as high as 5 to 15 percent for their use on adult websites. Chargebacks from credit cards on such sites are also common, going so far as hitting roughly 10 percent of all charges. Such circumstances greatly reduce the profits for adult entertainment websites.
Cryptocurrency solves such problems by not allowing chargebacks as well as low transaction fees due to new innovations like the Lightning Network.
Coppa says that cryptocurrency can help porn websites thrive, noting that the proliferation of free porn has devastated the industry. However, he believes that the use of crypto can revitalize the industry, saying:
Once crypto payments become standard – and on cam sites users are used to paying with tokens – people will pay for content and the content will get better.
Coppa also says that the intimate token (ITM) will be a boon for adult dating sites and escort sites. This will be the case because the token can offer up verification while still allowing for anonymity. Basically, a person using ITM tokens can develop a reputation score by receiving feedback from those they interact with. Coppa notes:
When two people arrange to meet for dating or going to a Swingers’ Club, neither might need to know the other’s name, but they do need to know they can trust them.
Overall, this new cryptocurrency payments portal should vastly increase the use and adoption of cryptocurrencies. No matter how moral authorities rail against pornography, the internet has shown that it’s here to stay.
What do you think about adult websites being able to accept the most popular cryptocurrencies? Let us know in the comments below.
Images courtesy of Pixabay and YouTube/@intimate.