PornHub’s content creators can now cash out their earnings in Tether cryptocurrency, two months after PayPal dropped support for the adult entertainment giant.
According to PornHub’s blog, models can now use cryptocurrency wallet TRONlink to withdraw money in Tether, a stablecoin pegged one-to-one with the US dollar.
[Read: Pornhub says less than 1% of users buy subscriptions with cryptocurrency]
“USDT transactions can be done globally within a few seconds and there are no fees,” said PornHub.
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This marks the second cryptocurrency adopted by the site, which began supporting payments in niche cryptocurrency Verge in 2018.
Tether an extra hoop for PornHub’s content creators
PornHub was “devastated” when PayPal suddenly stopped supporting the site last November, citing its discovery of “certain business payments” being processed without its permission. Presumably, those related to PornHub’s content creators.
The move reportedly affected hundreds of thousands of users who relied on the service to transfer money generated on the site into their personal bank accounts.
At the time, a PornHub spokesperson told Motherboard that decisions like PayPal’s “do nothing but harm efforts to end discrimination and stigma towards sex workers,” before hinting there would soon be new payment options that were sex worker friendly, as well as more cryptocurrencies.
The thing is, USDT isn’t cash, and neither is XVG. Those using USDT will need to find somewhere to sell it for fiat currency (like a cryptocurrency exchange), later sending that money from the exchange to their bank account.
Selling digital money via cryptocurrency exchanges isn’t exactly anonymous, either, as most reputable services demand users submit identification and pictures of themselves as part of their Know-Your-Customer requirements.
This process could take days to complete, and, depending on the financial institution, could leave bank customers locked out of their accounts for interacting with cryptocurrency exchanges.
Not to mention, many jurisdictions around the world have complex taxation laws for cryptocurrency, which could complicate matters even further.
Content creators who’ve exhausted all other options might still find value in using USDT, at least as a temporary measure.
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