Like the idea of using cryptocurrencies for your adult industry transactions but can’t decide which one to use?
Then you might be interested in SpankPay; a new crypto-payment processing service and digital currency which has been set-up specifically for merchants and models working in adult entertainment.
Offering the same benefits as other cryptocurrencies including safe, fast and easy payments plus low transaction fees, we wanted to know more about the latest launch in digital currencies.
In this guide we answer – how does SpankPay work? We look at why you would use SpankPay at all and what benefits you get by doing so.
An Introduction to Cryptocurrencies
In case you haven’t heard… crypto is all the rage.
Invented in 2008 and launched to the world in 2009, cryptocurrencies are a digital alternative to traditional currencies.
Unlike money (bills and coins) and even the balance in our bank accounts, cryptocurrencies aren’t actually tied to any physical assets.
Instead, they are wholly decentralized from any banking system or financial authority and offer users a way to transact their business without any middleman.
The benefit of this is , of course, that your payments are quicker, easier and often cheaper whilst the inherent cryptography makes them safer.
One of the main reasons for the global success of these kinds of currencies is that they offer a more diverse and flexible way for people to trade and access credit.
Cryptocurrencies & The Adult Industry
The adult industry has a long history of being discriminated against by financial institutions including central banks and even popular payment platforms like PayPal.
Credit card companies are also just as bad and their processing charges can be up to five times higher for transactions made on adult sites. Merchants will pass on some, or all, of these fees so both they and the customer end up being penalized.
The alternative to this can be found in cryptocurrencies and, more specifically, with SpankPay.
A growing number of porn sites are accepting crypto payments, and the list of adult services moving in to this space is growing by the day.
Offering customers an easy, safe and private way to buy adult content, SpankPay offers one-click payments so no more entering your credit card details into multiple premium porn or live cam sites!
Plus, without any middlemen dictating charges, merchants can run their own banking system without worrying about being overcharged or being shut down!
Payments Made Sexy
Since the idea of cryptocurrencies went mainstream in 2008, there have been hundreds of new digital payment types launched to the market.
Some, like Ethereum, Litecoin and Bitcoin, have lasted the distance whereas others (like the Coinye scheme which stupidly used Kanye West as a mascot without asking him!) have fallen quickly by the wayside.
Enter SpankPay, the first in-browser blockchain micro-payment processor.
Designed specifically for the adult industry you can think of it like a crypto version of PayPal for adult content and services.
So, what makes SpankPay different?
Aimed exclusively for the adult market, SpankPay was launched in 2018 by the adult blockchain company SpankChain.
The team wanted to create a new decentralized economic platform to give sex workers and adult entertainers privacy, security and independence over their financial transactions.
In short, the system allows users to accept payments from a large number of other cryptocurrencies including BTC, ETH and LTC as well as more privacy-focused coins like ZCash and Monero.
SpankPay is designed around 6 key principles:
- Safe: All transactions on this blockchain are final, so no more chargebacks. And, as an adult company, there’s no way you’ll be shut down or have your funds locked.
- Easy: Offering customers 1-click payments, there is no waiting around for block confirmations as all SpankPay transactions are accepted instantly.
- Cheap: Merchants are charged 0.5% on all transactions which is one of the lowest fees around for cryptocurrencies.
- Global: As with all digital money, cryptocurrencies allow you to tap into a truly international market as you aren’t limited to traditional currency exchange rates.
- Stable: Earnings are protected from volatility
- No Middlemen: SpankPay allows you to be your own bank and answer to nobody over your transactions and business operations.
Getting Started with SpankPay
SpankPay lets users remain anonymous and transact their money online safely and securely plus it means that you only have to register your payment details once.
For customers, all you need to do is create a SpankPay account, add funds using your credit or debit card or from another crypto account.
Then all you need to do is start spending.
SpankPay is currently being used by some major adult entertainment sites including:
- SkyPrivate – the adult Pay-Per-Minute plug-in where you can get intimate live shows from a choice of 40,000+ models.
- JustFor.Fans – an adult content subscription platform offering premium and exclusive access for fans of adult entertainers.
- SextPanter – a premium platform allowing you to hook-up online and start sexing with models.
How Does SpankPay Work For Models?
If you don’t want to pay huge payment processing fees with traditional platforms for your “high-risk” transactions then SpankPay could be the viable alternative.
Allowing adult entertainers and sex workers to keep 99% of their income, it’s an easy to use and secure method of accepting money for the work you do.
To begin accepting crypto payments for your adult work using SpankPay you’ll need to create your own profile on SpankPay.Me
First up you’ll need to link all of your socials including:
- Amazon Wishlist
See our complete list of adult social networks where you can sell your content.
Then you’ll need to choose which holding currency you want to be able to withdraw your earnings in.
At present this can either be USD, Bitcoin or Ethereum.
Then you just need to provide the details of your bank account if you want to withdraw funds this way.
You’re now ready to start accepting the SpankToken and your audiences can buy content or tip using the currency tokens, BOOTY.
Your SpankPay.Me dashboard allows you to monitor your income and report on all earnings with an intuitive and easy to use platform.
SpankPay.Me For Merchants
Owners of adult websites are also able to leverage the security, flexibility and low costs of using SpankPay by registering to accept payments for their content and services.
Just like adult entertainers and sex workers, merchants can register for an account using SpankPay.Me.
Integrating SpankPay with your site is simple and your customers can checkout using SpankPay just the same as with any other payment method.
SpankPay autogenerates an invoice and your crypto earnings go direct to your account.
The benefit of using SpankPay though means that your transaction fees are lower and your money is safer.
The Power of Network
Just like any cryptocurrency, the more you stake the more you can generate so YOU are in control of increasing the value of BOOTY.
Merchants and models can sell their extra BOOTY to other SpankPay adopters but as the platform grows then so too does the value of your initial stake.
So, if you want to embrace an economy where you get to keep more of your money, where client’s payments won’t be reversed or that won’t freeze your assets because of the work that you do then now is the time to sign up with SpankPay.
Find our more about the economic benefits of using SpankPay by signing up today.
All featured images via SpankChain.