SpankChain has taken a step into the latest trend in online payments–micro-tipping. It’s a natural next step for a blockchain aimed at servicing the adult content industry. SpankChain has thrived on being able to offer the adult content industry something that it hasn’t had in a long time–reliable payment systems. Many traditional banks and payment processors don’t want to associate with adult content creators or do so reluctantly, with a short leash and high processing fees. SpankChain has been able to solve that problem and has taken another step towards becoming the go-to when it comes to adult content payments.
A new way to pay
Their new service, SpankPay, allows users to pay their favorite adult content creators with their cryptocurrency of choice including Bitcoin, Ethereum, Litecoin, Zecash, and Monero. Processing payments with cryptocurrencies has a lot of benefits for those in the adult content industry such as preventing chargebacks and the ability to offer privacy for their users. It also allows creators and websites to offer a payment option that works for users regardless of their location in the world. SpankPay just launched this month, but already has two partners that have fully integrated the payments solution. SkyPrivate and JustFor.Fans have supported the SpankPay launch.
The big picture
In a statement, the creator of JustFor.Fans cited risk of having payment processing accounts deactivated as one of the main pain points for their business and one of the reasons that they have agreed to partner with SpankPay. SpankChain also figures to integrate SpankPay into their own webcam site, Spank.live, which provides a safe and secure platform for models to create content and collect payments safely.