Bitcoin is becoming a more popular payment option for elite Dutch sex workers

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High-end sex workers in the Netherlands are turning to bitcoin as a payment option with increasing frequency, BNR reported. The media interviewed eight escort companies that charge at least 350 euros per hour.

While sex workers’ clientele often wish to pay in cash, sex workers may encounter difficulties due to limits on cash deposits that banks may impose. Customers wanting more anonymity have started asking to use cryptocurrency to pay for services from the last few years.

We were called several times to ask if it was possible to pay for a date with bitcoins. Then we presented it as an additional service, said Erwin, the owner of The Mens Company, when contacted by BNR.

The trend is becoming increasingly popular with sex work, although other service providers and retailers have begun to eschew cryptocurrency amid daily exchange rates that can change wildly. Last week, another escort service, Pink Sheets, started accepting bitcoin.

Liquidity was becoming more of a problem for the business as banks implemented stricter know-your-customer and anti-money laundering procedures. Banks can also categorize sex work businesses as having a more questionable risk profile, Amy, owner of Pink Sheets, said in a radio interview with BNR.

To cover processing fees and currency fluctuations, Pink Sheets adds a 10% fee on top of a customer’s bill if they wish to pay in bitcoin. Although this is relatively new for Dutch high-end sex work businesses, Amy said it is more common overseas. Our biggest competitor does not. I don’t know why, she said, even though businesses in England and Germany already accept cryptocurrency payments.

Credit cards can also be difficult to process, as can Paypal, due to restrictions imposed by financial institutions. We then had to drop many bookings from abroad, Erwin said.

There are 15 high-end escort agencies, and more than half of them now accept bitcoin, industry group Vereniging Exploitanten Relaxbedrijven told BNR.

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