Amid a financial catastrophe that overshadows the world, the cryptocurrency market has become part of the solutions many entrepreneurs take. On this occasion, sex workers in the US take Bitcoin as a refuge to protect their funds and feel economic autonomy.
According to reports, crypto trading has increased its adoption rate despite Bitcoin and other cryptocurrencies continuing to have an unfavorable run. Female escorts in the US, mainly from Miami and New York, are riding the wave of joining crypto after seeing a clearer picture of the laws imposed on the industry.
Sex workers accept Bitcoin
Sex workers renew updates they offer their services by accepting Bitcoin. It is indicated that a large part of the sex workers in the United States has used Bitcoin, Dogecoin, and even Shiba Inu as their trading tokens to order their economy.
These people who do sex work turn to cryptos to repel the laws imposed on them. By 2018, the federal government approved eliminating the internet sex trade, which affects the payment of these services. As established by the decree, people who engage in sex work will be severely punished and even spend time in jail.
However, all these laws that sex workers face are easily evaded by cryptos. This is due to the anonymity scheme they share. It is included that the national government has relaxed the laws imposed on the decentralized market after more than a decade in operation.
Crypto exchanges gain priority over centralized wallets
Due to low commission rates, crypto exchanges have gained priority over centralized wallets like PayPal. Sex workers also prefer crypto exchanges or wallets for fast transactions without so many blocks.
Many sex workers on the streets have reported that their Visa cards and even their PayPal wallet have been sanctioned for only dedicating themselves to this trade. But crypto wallets ask for simple documentation where they do not judge the jobs of their users.
Although the crypto market is still in decline, this does not mean its adoption wave remains paused but increases. Not only sex workers in the US use cryptos, but all those people in the world who unfortunately live in a country where their economy is in danger, like Latin countries.
Crypto trading has also seen progress in developing NFTs and the metaverse, which has become a dedicated place for programmers and companies looking for extra profit while getting involved with the technology. The entire crypto landscape looks promising, and other developments may occur with the start of the year’s second half.
Source: https://www.cryptopolitan.com/sex-workers-in-the-us-use-bitcoin/