The adult industry is embracing the world of cryptocurrency for a number of reasons. The fact that the sector lacks regulation by traditional cut throats makes it easy to thrive in different businesses. Traditional setups, such as banks, will not allow people in the adult industry to set up accounts, borrow money, or even carry out transactions freely. Accounts are often frozen and most have lost money in the system. The adult workers feel that the government is not recognizing them enough or providing them with workable retirement plans. Yet, they pay taxes like everyone else. There is no telling when the government might order the seizure or freezing of their accounts.
Cryptocurrencies are allowing them to not only have accounts, but trade on their platforms. The recent government ‘intrusion’ into the platforms is also providing fear that the same will happen to them on these exchanges. These moves could lead to adult industry workers seeing their accounts closing down or the government ordering the platforms to do so.
The adult workers are not trying something different and are now locking up their money in cold reserves. These reserves are only accessible to the owner and cannot be transacted upon unless the person has a physical password. This also means that the user has to be careful enough not to lose the password. The adult industry exposes the performers to self-care, meaning that they have to look over their own of saving choices.
Banks and other financial institutions view people in the adult industry as high risk due to government based sanctions. This also goes for companies that run in the same industry no matter the number of investments they have. Cold storage allows the investors to build on their value in a field when holding onto coins is more lucrative than trading.
Some adult workers express the fear of a collapse in the industry which would also mean them losing their investments. The more innovative exchanges are taking to blockchain technology to set up their platforms for safety. More and more adult workers are now taking coins as a means of payment making it easier for them to save their funds in the market. Most feel that you can never be too careful when saving up your cash. Not locking it up is still risky in a world where you need to take absolute care of yourself.
