The Truth About Crypto and Sex Work

CoinDesk
CoinDesk

19 Sep 2023 2:35 PM

Sex workers are skeptical that crypto can answer all their financial problems. This piece is part of CoinDesk's Sin Week....

  • The average adult performer earns just a few hundred dollars a month, despite flashy headlines of high earnings.
  • Lockdowns during the pandemic led to a rise in remote sex work and a willingness to accept crypto payments.
  • However, there hasn't been wider adoption of crypto payments among sex workers as expected.
  • Clients are hesitant to use bitcoin due to its fluctuating reputation and find gift cards and cash options easier to use.
  • Some clients have switched to paying in stablecoins like USDC, and reduced patronage when the price of BTC and ETH dropped.
  • Clients and performers are more hesitant to use crypto during a bear market, but overall demand for sex workers' services remains consistent.
  • Some performers still earn bitcoin from loyal customers and find it to be a profitable strategy.
  • Surveillance and bans against sex workers have increased, with exchanges and crypto companies complying with regulations.

The sentiment of the article is mixed. While there are challenges and hesitations regarding crypto payments among sex workers, there are also opportunities for profitability and consistent demand.

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You May Ask

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