Stripchat says crypto payments increased 400% in a year

Adult webcam streaming websites are getting a boost from pandemic lockdowns.

Live streaming webcam platform Stripchat is among several adult websites experiencing a boom in crypto payments over the past year.

The adult social streaming and entertainment platform revealed in a blog that cryptocurrency is rapidly becoming a preferred payment method for many users and performers on the webcam-based website.

It is estimated that the platform has over 300,000 models and averages around 60 million visitors a month according to Stripchat stats for 2020.

Using digital assets for adult entertainment is nothing new as they offer an additional layer of anonymity. However, Stripchat and other webcam sites saw significant growth in 2020 due to the Covid-19 pandemic and subsequent lockdowns. It reported a 72% spike in traffic and hosted over 2 billion sessions for the year.

Max Bennet, VP of New Media at Stripchat, stated;

“Both users and models are more actively using crypto as their preferred payment methods. We have seen a 400% increase in the number of cryptocurrency transactions since the beginning of 2020, and 10% of all active models on Stripchat are using crypto as their primary payout method.”

Following Elon Musk's tweets claiming “Dogecoin is the people's Crypto”, the platform has jumped on the Doge bandwagon and is now accepting payments in the meme-based cryptocurrency. Bennet added:

“If adding DOGE can improve Elon Musk’s and people’s experience on Stripchat, we are here to accept it,”

In addition to Stripchat, there are several cam based live streaming websites that accept Bitcoin and crypto payments including LiveJasmin, CamSoda, and Chaturbate.

Pornhub has also joined the Dogecoin frenzy by announcing that it is accepting it as a method of payment in addition to three other new cryptocurrencies; BNB, USDC, and XRP.

The adult entertainment website has been increasing its crypto payment options and currently accepts a total of sixteen cryptocurrencies following a blockade by credit card giants Visa and MasterCard.