Cam & Cryptocurrency

Deciphering the Digital Currency Craze

Cryptocurrency has become a hot topic in the news. With investors flocking in to snatch up new coin offerings, intense media coverage, and millionaires being made overnight, that’s not bound to change anytime soon.

For those still unfamiliar with the digital currency craze, Bitcoin is a decentralized digital currency that uses a peer-to-peer network and functions without an administrator or intermediary, allowing users to directly transact with one another. A series of network nodes verify these transactions using advanced cryptography, recording them in a public distributed ledger known as a blockchain.

Satoshi Nakamoto, the nom de guerre credited as the inventor of Bitcoin, and his team released it as open-source software in 2009. Since then various forms of alternative digital currencies, commonly known as or Altcoins, have sprung up. Some address specific issues or communities’ needs while others seem to be nothing more than a gag.

One thing’s for sure –the growing digital currency craze is churning up billions of dollars in actual money, making it far from a laughing matter when it comes to investors interested in cashing in on hot new crypto assets.

A Lucrative, Underserved Market Waiting to Explode

While most people don’t know the difference between LITECoin and Ethereum, the adult webcamming community is embracing digital money and remains one of the cryptocurrencies’ most visibly supportive industry’s.

With major payment processing service providers like Paypal, Stripe, and Square refusing to work with any form of adult company, including sex toys manufacturers and adult marketers, the sex industry is ripe for a safe new method to engage in commercial transactions.

Traditional merchant services either block them due to morality concerns or label them high risk due to chargebacks and the potential for fraud, leaving anyone affiliated with adult entertainment – including cammers and cam-site operators– with fewer options for payment services. Most have no choice but to resort to working with processors that charge as high as fifteen percent with annual fees in the thousands to survive.

By contrast, digital currencies cannot be refunded. All sales are final, preventing fraud concerns for small business owners and performers. Fans can also tip cam models with them, giving them the option to cash out right away or hold them in their digital wallet and potentially earn even more. In some cases, it could literally mean thousands of extra dollars, depending on market trends.

Cammers that do cash out instead of holding for the next big pump enjoy highly competitive rates, in some cases as low as half of one percent. The ability to make cost-effective micropayments at dirt cheap transaction rates is bringing in new crypto zealots in droves according to Steve Ranieri, President of SNR Productions and CamWithHer chief.

Ranieri has been hailed as having played a pioneering role in accepting digital currencies. He started accepting Bitcoin way back in early 2013. His experiences quickly showed him the future of crypto processing for adult, and how he could help shape it.

“The adult industry paved the way for online credit card processing in the late 1990s,” explained Ranieri in a recent, well-received post on Reddit. “Perhaps it can also pave the way for cryptocurrency payments online.”

CamWithHer.com currently accepts a wide variety of payment options that include everything from DOGE to BTC. He’s enthusiastic that in time the adult entertainment industry and camming can open doors to more mainstream acceptance of digital currencies.

Digital Currency Dedicated to Adult Performers

Ranieri’s far from alone. The adult entertainment industry continues to generate billions in revenue each year, luring in tech experts who see an underserved and marginalized market waiting to blow up. It’s a digital gold rush happening in real-time, with new coins promising to shoot to the moon in just a few weeks and public offerings raising millions.