A crypto currency is a digital asset designed to work as a medium of exchange that uses cryptography to secure financial transactions or verify asset transfers. Crypto currencies use decentralized control as opposed to centralized like central banking systems. This allows for much smaller transfer fees and anonymity for users.
Crypto currencies are the solution for anonymity in the adult entertainment industry.
Internet censorship is present in many countries of the world today. Using crypto currency payments and VPN as opposed to conventional credit card payments on cam sites that accept crypto payments, users never have to worry about restrictions, personal information leak, credit card hacks or something unwanted showing up on their credit card statements.
Crypto currencies are already a part of the adult entertainment industry.
First released in 2009, Bitcoin open-source software is generally considered the first decentralized crypto currency. Since then, over 4000 alternative crypto currencies have been created. Some of the biggest video-chat platforms like Skyprivate for example, already offer crypto payments to users and models, alike.
Crypto currency payment systems offer low transfer fees.
While many cam sites and webcam studios take 60% of models earnings and they get only around 40%, on most webcam sites that use crypto currency payment systems the webmodel receives a much higher, up to 90%, payouts based on their earnings.
Judging from the speed at which these crypto currencies increase in value and usage it’s fair to say the in the next few years all of the major players in the industry are likely to offer crypto payments as a way to pay for goods and services.