While Onlyfans Plans to Ban Adult Material, Crypto-Fueled Onlycoins Project Swoops in to Support Sex Workers – Bitcoin News


While Onlyfans Plans to Ban Adult Material, Crypto-Fueled Onlycoins Project Swoops in to Support Sex Workers

Cryptocurrency fans have been discussing the online content subscription service Onlyfans after the company decided to ban photos and videos that are deemed “sexually explicit conduct.” While a number of crypto enthusiasts discussed the subject, the platform Onlycoins believes the ban is “crypto’s biggest opportunity” and the project is ready to take the stage.

**Editor’s Note: On August 25, 2021, the online content subscription firm Onlyfans announced it has “suspended the planned October 1 policy change” and Onlyfans will not ban sexually explicit conduct.

Onlycoins Digital Market Wants to Support Adult Entertainers

One of the most topical conversations this week is how Onlyfans decided to ban “sexually explicit conduct” in videos and photos, due to possible conflicts with financial service companies. In a statement sent to the press, Onlyfans detailed it made the decision to “comply with the requests of our banking partners and payout providers.” Furthermore, the spokesperson said:

In order to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines.

Payment companies taking issue with sexual content has been an issue for sex workers for a very long time. Last year, a payment blockade forced Pornhub to accept cryptocurrencies like bitcoin and a number of other digital currencies. Stripe prohibits adult content and is a company that provides payment services for Onlyfans as well. In addition to mainstream media discussing the situation, digital currency fans have been talking about the ban, as many believe crypto could step in.

While Onlyfans Plans to Ban Adult Material, Crypto-Fueled Onlycoins Project Swoops in to Support Sex Workers

One project called Onlycoins, an online content subscription service that uses cryptocurrencies for payments, believes this is “crypto’s biggest opportunity” and the project wants to seize the day. The Onlycoins digital content marketplace offers the same features as Onlyfans and it “allows creators to sell content freely as long as it complies with legalization.”

The project is a multi-crypto asset endeavor that allows creators to earn bitcoin cash (BCH), bitcoin (BTC), ethereum (ETH), binance coin (BNB), dogecoin (DOGE), litecoin (LTC), monero (XMR), dash (DASH), uniswap (UNI), and the Coinflex’s flex USD token. Not only does the platform allow for payments in crypto, but the platform also beats the competition when it comes to commission rates. For instance, Clips4sale charges a whopping 40% commission, Pornhub 32%, Manyvids 30%, and Onlyfans charges a 20% commission from its user base.

“Onlycoins has an opportunity to swoop in to support sex workers and online creators,” the project’s press release published on Friday details. “The porn industry has been embracing crypto payments and there is a chance the project could be in the perfect place to fill the void left by Onlyfans’ exit, and grow into a more dynamic, inclusive platform that goes all-in on cryptocurrency.”

Onlyfans ‘Sexually Explicit Conduct’ Ban Begins October 1st

The Onlyfans ban begins on October 1st, and from then on the firm will block any video or photographic depictions of “sexually explicit conduct.” Nudity is still allowed on Onlyfans and the company says it will be releasing more information on the subject in the near future.

Since it was launched, the project Onlycoins has had a number of users on the platform regularly. The press release further details that registering for the crypto-powered digital content marketplace only requires an email to get started. This past March, the popular Youtuber and Bitcoin Cash supporter, David Bond, published a video about the Onlycoin project in order to show his 520,000 Youtube subscribers how it works.

Tags in this story
Adult-themed, BCH, Binance Coin (BNB), Bitcoin (BTC), bitcoin cash, bitcoin cash BCH, Creators, Cryptocurrency, dash (DASH), David Bond, Dogecoin (DOGE), Ethereum (ETH), litecoin (LTC), members, Monero (XMR), Onlycoins, Onlycoins app, Onlyfans, Onlyfans competitor, p2p, pay-per-view, PPV, Sharing Economy, subscribers, uniswap (UNI)

What do you think about the Onlycoins project and how it wants to compete with Onlyfans and other digital content marketplaces? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Onlycoins logo,

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