When banks like JPMorgan Chase and Bank of America serve adult entertainment websites, they often Charge at a high rate due to the high frequency of “chargeback” A customer disagrees with an account statement claim and claims that the claim was fraudulent.
Cryptocurrencies, on the other hand, are immutable and cannot be challenged or reclaimed. Once the payment is made, it will be recorded in the distributed ledger and set in the stone. Adult entertainment sites that accept cryptocurrencies instead of traditional bank payments don’t have to pay high fees from their cryptocurrency platforms, so they don’t pass the cost on to performers posting content on the site.
LaRue was one of the early adopters of SpankChain, a website where adult entertainers can post explicit photos and videos and receive compensation for their jobs in cryptocurrencies. The company has launched the BOOTY ERC20, which has less volatility than cryptocurrency coins such as Bitcoin and Ethereum. We also recently launched Spank Pop Shots, which allows customers to purchase unique digital and erotic photos of models and performers called non-fungible tokens (NFTs).
However, cryptocurrencies remain a mystery for many porn performers looking for alternative banking solutions.
Atlanta-based performer Sage the Flame started adult entertainment by posting erotic photos on Snapchat. She processed the money through PayPal, but the company eventually flagged her account for suspicious activity.