Women in the adult entertainment business have long complained that banks are severing ties by not catering to their transactions. Banks have regularly blocked clients’ funds from falling into their accounts depriving them of their livelihood. Payment service platforms such as PayPal, Square, Circle, Cashapp, and Venmo are restricting funds from going towards adult entertainers. Many performers are even banned from the platform. Now that banks have turned their backs on performers, adult entertainers are going through the cryptocurrency route to receive payments.
Camgirl Allie Eve Knox was interviewed by Vice where she confirmed that all major payment platforms banned her accounts. Knox produces adult content for subscribers which includes custom-made clips, selling her worn lingerie for people who collect them. She revealed that banks and payment platforms blocked her simply because she’s a sex worker.
Knox revealed that she experienced discrimination from credit card processors who shut her account for earning through sex work. As banks and payment services made it impossible to make a living, Knox said that she took the cryptocurrency route.
“[Crypto] was something I preferred in some ways, because there was no possibility of chargebacks,” she said to Vice. She continued, “And unlike cash, you could accept it in advance. It was this happy spot between the two, where I could get paid before booking so I didn’t have to worry about whether the person had money or not. And I also didn’t have to worry about them potentially clawing it back.”
Despite working in the comfort of her home, Knox revealed that the FBI has kept an eye on her finances. She stated that she was under investigation by the FBI but the Feds never told her why. “We can be f***ed for any reason, and often are, and will be,” she said.
Cryptocurrency : The Only Saving Grace
Not just adult workers, even common folks alike now believe that cryptocurrency can beat inflation. Prices of almost everything under the sun have skyrocketed and inflation in the US touched 7.90%, the highest in 40-years. The inflation comes at a time when the world is recovering from the Covid-19 pandemic, with millions of job losses and salary cuts.
Therefore, people believe that an investment done in cryptocurrency now can yield better returns in the coming years. They believe that the traditional financial sectors such as banks and the stock market deliver only for the rich and not the working class and cryptos can cater to their financial aspirations.