As traditional financial institutions continue to clamp down on the adult industry, cryptocurrencies are gradually becoming the go-to payment method for sex workers.

With this, crypto shows the importance of a permissionless system for an inclusive global financial system.

Several sexual content creators claim that they were banned from various payment platforms due to their work, forcing them to consider cryptocurrencies.

A good example is Alie Evie Knox, who was banned from using PayPal, Venmo, Circle, Square, and Cash App. These platforms claimed that she was violating their terms of use, which prohibit anything sexual.

After the ban, he decided to educate himself on cryptocurrencies and started accepting them as a payment method for his subscriptions.

Recounting the first time he received crypto, he said: “I had a Coinbase account at the time, and he said, ‘Hold your QR code right up to this camera here,’ and sent it through the camera. And I got it.

Since then, she has become one of the leading cryptocurrency advocates within the industry. Although her interest in crypto dates back to 2014, she is not alone. Several working adults have also stated that cryptocurrencies give them more sense of security and independence when it comes to their money.

Payment gateways once banned OnlyFans

Policing of sexual content reached a new high last year when the popular video content platform OnlyFans announced that it would ban sexually explicit content.

The platform, which became popular due to this form of content, announced in September 2021 that it would ban such content on its platform due to pressure from payment providers and banks.

What followed that announcement was an outrage that forced the platform to reverse its decision. But it was enough for several artists on the platform to consider cryptocurrencies.

One of them, Allie Rae, started accepting crypto payments because she believed that the wrong policy could affect her source of income.

Since then, she and a few other artists have assembled a team of developers to create a cryptocurrency-powered adult entertainment platform, Webspace. Rae, who claims that she earns $1.3 million a year, has promised to donate $1 million to build that platform.

Crypto serves everyone

Ever since cryptocurrencies went mainstream, the industry has proven its inclusivity as adult movie stars along with grocery stores and other businesses have been able to accept digital assets as a payment option for their goods and services.

Aside from its uses as a payment method, the industry has played a prominent role in the global political system. Protesters in Nigeria and Canada were dependent on space for their funding when authorities began to clamp down on their accounts with a centralized body.

In addition, the assets have played a very important role in helping Ukraine finance its defense against the Russian invasion of its territory.

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This post Adult Stars Turn To Crypto After Banks Cut Them Off

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