9 Oct, 2019

Cryptocurrencies Used for Less Than 1% Transactions on Pornhub

When Pornhub had started accepting crypto payments a few months back, there was a lot of hoopla about that. There were expectations that this will lead to increased adoption of cryptocurrencies in the mainstream, but it seems that an altogether different story is playing out in reality. Cryptocurrencies have been used for less than 1% of purchases on company’s platform, which suggests how cold the response to crypto payments has been among customers of the company.

The shocking revelation came from the company itself. A Pornhub spokesperson told TheNextWeb that “cryptocurrencies currently account for less than 1 percent of purchases made on the platform”. Now, while that spokesperson didn’t directly reveal the number of users who pay with crypto on the site, it’s worth noting that those numbers will still be huge enough because Pornhub attracted a cool 28.5 billion visits last year.

Nevertheless, Pornhub still believes that cryptocurrencies can become more widely accepted on its platform. The company spokesperson added to his statement that Pornhub expects to see a more widespread adoption of cryptocurrency payments on the site in near future.

Pornhub had added the ability to pay with cryptocurrencies to its platform back in August after partnering with crypto-billing startup PumaPay. The company had also inked a partnership with Verge Coin (XVG)TRON (TRX) and ZenCash (ZEN), which allows crypto users to pay on the site using XVG, TRX and ZEN tokens. Tube8, one of Pornhub’s subsidiaries, had also partnered with Vice Industry Token (VIT) to reward users for watching content.

In short, crypto is becoming one of the most beloved things in the adult industry. But if it fails to gain adoption among visitors of these sites, it will be discarded by the whole industry faster than it was adopted. And it will be interesting to see what happens!