Titcoin is a cryptocurrency specially developed to cater to the needs of the adult entertainment industry. Similar to the other digital currencies, Ti
Titcoin is a cryptocurrency specially developed to cater to the needs of the adult entertainment industry. Similar to the other digital currencies, Titcoin uses a peer-to-peer network of computers to enable electronic transactions. This means that the system remains decentralised and frees both the payer and the payee from any restrictions. Something, which is specifically important for the industry of the X-rated products and services that has been limited by numerous government regulations. At least until now.
Launched on June 21, 2014, Titcoin works on the basis of any other cryptocurrency, but has the distinction of processing transactions only within the porn-related business. Titcoin offers to its users the much-desired anonymity and privacy when it comes to purchasing and working in the adult industry. In comparison to Bitcoin for example, which is better designed for investment purposes, Titcoin focusses on enabling rapid transactions in only one specific field. In fact, Titcoin payments are processed in less than 6 minutes which is 10 times faster than Bitcoin.
Despite the unique name and the eye-catching logo, another advantage of Titcoin is that it is not recognised as actual money by any government. This leads to significantly lower transaction taxes and fees and consequently more money for the businesses themselves. What is more, the team behind this digital currency is unbiased enough to ensure that every payment is validated regardless of the nature and purpose of the transaction. Anyone and anywhere can buy and make use of the Titcoins.
Originally founded by Edward Mansfield, Richard Allen and a third person that prefers to remain anonymous, Titcoin aims at filling the gap between the consumer and the industry in an online environment in particular. Of course, there are other cryptocurrencies designed for the adult entertainment’s purposes such as DickCoin, SexCoin, WankCoin etc. but Titcoin still claims to have the leading position. Furthermore, within the adult industry Titcoin has received two years in a row the award nomination of Alternative Payment Services Company of the Year by XBIZ Awards.
“We’re not trying to promote pornography, per se,” says Mansfield, but they surely hope to become a widespread means of payment within the adult businesses. With a 69 million limit of total coins, Titcoin definitely has the potential to drastically expand even more. And why not? If there is a “coin” for everything, why not have one for porn? Who knows, the digital currency market as a whole may become the future of online transactions. Actually, more and more companies including adult-oriented ones become aware of this trend and start to accept online payments with cryptocurrency.