Pornhub Reveals Cryptocurrencies Are Used to Buy Less Than 1% of Its Subscriptions

Pornhub, the largest pornography website in the world, made waves in April when it announced that it would start accepting cryptocurrency payments, and has now revealed less than 1% of users pay using cryptos.

The company behind the website, MindGeek, announced that it was allowing users to purchase premium subscriptions with privacy-oriented cryptocurrency Verge (XVG). It has since expanded to allow users to pay with Tron (TRX) and ZenCash – which has since rebranded to Horizen.

 Many believed this was the kind of move that would help spur mass adoption of cryptocurrencies, although data shows otherwise. Pornhub revealed through an email to The Next Web that cryptocurrencies do not even account for 1% of the purchases made on the website.

Still Optimistic

While the company has revealed the website attracted over 28.5 billion visits last year, it doesn’t reveal how many of its users pay for its premium subscription service. It’s believed the majority of Pornhub’s revenue comes from ads, not from payments.

Despite the low use of cryptocurrencies for its services, Pornhub has revealed it remains optimistic. According to The Next Web, the website’s email stated:

That being said, we expect to see widespread adoption of crypto[currency] and blockchain on our site in the near future.

As CryptoGlobe covered, Pornhub partnered with PumaPay last month to enable recurring cryptocurrency payments. This will allow users to pay for the premium subscription service as if they were using a credit card – without worrying about sending over payments every month.

PumaPay is an open-source blockchain-based solution developed by Cyprus-based company Decentralized Vision. Its “PullPayment protocol” allows for transactions that “have never been possible on the blockchain” until it was developed. These include pay-per-use transactions, as well as recurring payments.

The partnership will also see Pornhub accept PumaPay’s PMA token as a payment method. Notably, there are other adult websites entering the cryptocurrency space. As covered, a website named Tub8 revealed it was set to reward users with a crypto called Vice Industry Token (VIT) for watching its content.

VRPorn.com, another popular adult website, added LTC payments earlier this year using GoCoin as a payment processor.