Pay with Verge, ZCash and Tron on Pornhub after PayPal Exit

  • PayPal has terminated its cooperation with the website Pornhub.com.
  • Instead, users should pay with cryptocurrencies such as Verge, Tron or Zcash.

So far, pornhub.com, which reaches more than 2.8 billion page views per month, has worked with PayPal to pay for premium subscriptions and other services. However, PayPal ended the cooperation on Wednesday, so payouts can no longer be made via PayPal.

The director of Pornhub has sincerely apologized to his users for this and recommends instead to use the existing alternative payment methods, including the cryptocurrency Verge:

We sincerely apologize if this causes any delays and we will have staff working around the clock to make sure all payouts are processed as fast as possible on the new payment methods.

Pornhub announced a partnership with Verge in April last year so that users can deposit and withdraw money on Pornhub with Verge. The payout is especially important for those who earn money uploading their own videos to the site. In total, this decision affects more than 100,000 performers who earn their living.

Many banks around the world immediately block accounts when deposits are made in connection with transactions of sex services or related topics. Since the adoption of the Fight Online Sex Trafficking Act and the Stop Enabling Sex Traffickers Act (FOSTA-SESTA) signed on 11 April 2018 under Donald Trump, online payment platforms such as PayPal have also begun to take action against sex workers.

Corey Price, Vice President at Pornhub, told Coindesk that other payment methods for cryptocurrencies are being reviewed and added:

We currently pay out in Verge and are evaluating adding other cryptocurrency payout options.

Pornhub also announced in June of this year that they would implement Tron and Zcash as possible deposit options. However, these cryptocurrencies are only available for deposit and not for withdrawal, but Verge is the only option available so far.

Verge raised nearly $2.5 million in a crowd fund last year and has moved Pornhub to integrate Verge into its platform. The hype surrounding this partnership was great at the time, but the price of XVG has fallen again to this day.

Privacy coins have a bad reputation with governments

Both Verge and ZCash offer the ability to perform anonymous transactions that are not traceable. Consumers like to take advantage of this when paying for pornographic content services.

Privacy coins such as Monero, Zcash and Dash have been banned on some cryptocurrency exchanges because their use could finance criminal activities and money laundering. For example, in September OKEx went to the cryptocurrencies Monero, Dash and Zcash to remove from the platform. This decision was taken in response to the newly introduced rules of the Financial Action Task Force.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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