Pornhub and Brazzers have begun accepting cryptocurrency for a payment option, the organization announced today. The site currently takes Verge cryptocurrency (no relation to The Verge), a rebranded version of Dogecoindark, that divides off from the initial meme coin, Dogecoin, in 2014. Users can cover any Pornhub features, for example premium subscription, using Verge cryptocurrency. Cryptocurrency is, additionally accepted by the adult sister websites, Nutaku and Brazzers of Pornhub.
Verge cryptocurrency is anonymity-focused, the reason why Pornhub executives say that they chose it on other potential partners. It should be noted that everyone can see Verge cryptocurrency trades through its public ledger, however, it also employs exactly the anonymity instrument Tor and an anonymous network layer I2P to hide certain trades’ IP addresses and locations. Users choose to cover up on the private ledger of Verge cryptocurrency since people ledgers tend to have their own downfalls in guarding anonymity.
Corey Price, VP at Pornhub, tells us that cryptocurrency offers “convenience and security.” It’s a dubious statement, considering most digital coins have high transaction fees and volatile prices that can be a hassle for users. Companies like Valve and Stripe have ended their cryptocurrency support for those very reasons. Stripe has even gone as far as adding cryptocurrency to its prohibited businesses list.
Verge cryptocurrency has been pretty unstable, like other digital coins that were popular. Last December, when many digital currencies were on the increase, Verge cryptocurrency hit nearly $0.22 per coin but has since dropped back down. On the heels of this announcement today, it climbed to approximately 10 cents per coin, which is still low compared to Ethereum and Bitcoin.
“We’ve been looking at crypto for quite some time,” says Price, including that Pornhub’s partner sites did take limited cryptocurrencies back when Bitcoin had newly appeared as a digital currency. Pornhub was not one of the websites to include crypto as a payment system back then, probable due to the fact the prices of Bitcoin were lower.
Price says that even though “overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.” As regulators consider different ways of tackling the cryptocurrency industry, the company also has a legal team and accountants that have assured Price and his team “in the legitimacy of the adoption.”
