Crypto Transactions Related to Adult content industry Skyrocket amid COVID-19

April 6, 2020      Yvette Mwendwa

Coronavirus quarantine has left people globally stuck at their homes, bored, and the only thing keeping them on toes is the internet. Coincidentally, there is a rise in the number of people streaming and downloading online content, that is on youtube, Netflix and without forgetting the adult content industry.

In particular, according to a February report by the Business Insider indicated that Porn hub experienced a daily upsurge of 11.6 percent in site usage in between the months of February 24 and March 17.

Nevertheless, the thriving thriving relationship between the pornography industry and digital currencies means that the cryptocurrency market has also experienced an upsurge. According to crypto-payments processing firm Coingate on April 6, the firm had processed more crypto transactions related to adult content during the month of March than any other month.

Specifically, adult content websites ManyVids and LiveJasmin experienced 17% and 8% upsurge in cart sizes respectively. Additionally, other adult content dealerships reported a massive 36% rise in yields.

Countries hit by COVID-19 pandemic lead in adult content usage

Majority of adult content merchants are based in Europe where most areas are under lock-down due to the spread of coronavirus. However, crypto enthusiasts are making their online shopping strolls across the world. According to Coingate, majority of clients who used LiveJasmin originated from the United States, Germany, U.K., Netherlands, France, Italy and the Philippines. These countries are widely hit by COVID-19.

Visa expenditure and transactions dip

Before the introduction of the social distancing and self-isolation measure; winter nations were preparing for the spring and summer tours.  Credit cards were used to purchase tickets, book hotel rooms and flights.

In particular, the United States Visa has seen a massive dip in the number of transactions. Amid the coronavirus pandemic, the United States Visa forecasts only a solo digit revenue rise percentage. The credit card company has experienced a massive deep in usage.

Photo by luizclas from Pexels.

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Yvette Mwendwa
Yvette Mwendwa

I'm a believer in decentralization. An enthusiastic author, web geek & writer with experience writing for tech, digital, and cryptocurrency blogs.