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Payment options for Canadian performers and sellers
So this question comes up a lot and I thought it was worth making a separate post about it to try and get all the information in one place. While there are many great resources on the various camming and selling subreddits regarding payment options, none of them are specific to Canadian sellers as far as I know. Please make sure you familiarize yourself with those, though, because they have information about the safety of your money and your identity/privacy when using each service. Transparency Statement Apps and services I have personally used will be indicated within. I also want to note that I was given a $10 Polyalpha gift card by a fellow Redditor and seller for a chance to try the service (it was a public offer given in a comment thread). I do not anticipate bias because of this, but it has given me information about the service that I would not have otherwise had. Disclaimer This post is for information purposes only and nothing I say should be construed as an endorsement. Similarly, the focus of this post is on payment options for Canadian models. There are a lot more things to consider as you do your research, so please keep in mind that this is not intended to be a comprehensive resource and take the time to double-check how each works when it comes to personal safety and anonymity in particular. I have broken this down into two tables – one for third-party apps that Canadians can use to receive direct payment from individual buyers, and one that gives the lowdown on getting paid from various content/cam sites. Note that many of the options in Table 2 are also payment processors or can be used as such. Table 1. Third-party apps for receiving direct payment. >>Options in bold require that you have a US-based checking account<< See next section for more information.
Currency options for receiving payment
Payment options for buyers
EUR, GBP, USD
Must have Paxum
Prepaid card; to US bank account
Poor quality info online; nonexistent customer service
ePayments - I did not include this here for a couple of reasons. One, they can no longer process payments in USD. Two, their verification process, app, and customer service were super frustrating. Three, it's still not clear to me if I can accept crypto payments here or if I could only pay myself in crypto out of an existing wallet and use ePayments for currency exchange. I've seen other sellers indicate ePayments as a payment method so maybe someone else could provide additional info in the comments.
Payoneer - Omitted due to absurd restrictions and fees. a) For example, your billing address has to match the national currency you are using for your withdrawal currency, meaning your billing address would have to be in the US in order to withdraw in USD. That means that a Canadian model with a US-based account wouldn't be able to set up withdrawals into their US account. b) Fees are quite high, especially considering most other options are free.
PolyAlpha – The website only shows PayPal as a payment option to buy the gift vouchers but both PayPal and CashApp were indicated in a Reddit comment from someone involved with the service
CashApp, Venmo, and Square Cash – some Redditors have indicated that it’s possible to register for these services if you are using a VPN. CashApp, for example, has transaction maximums for unverified accounts of $1000/month and $250/week, so as long as you are below these amounts then you wouldn't have to verify a US address. I can’t attest to this but wanted to mention it as a potential option for those with a US-based bank account.
Processing times – I left these out in the interests of having a read-able table but they are not all instant. In general, most are within one day or less except direct deposit from GiftRocket. Please research the source links for more information. Also note that processing times at US banks seem to be much slower than what we are used to – just a heads up.
Opening a US Checking Account To my knowledge, TD and RBC are the only banks where this is possible. In order to take advantage of the payment options I’ve identified in bold in Table 1 and Table 2, it is imperative that you open a US-based checking account and not just a USD account through your home branch. The difference is that a US-based checking account is tied to a branch that has a physical location in the US. I opened mine through RBC and it was relatively painless. I opened a Canadian checking account online but had to go to a branch to provide ID verification. This is required in order to open the US account. Next I called them to open the US-based account. You can do this at any branch as well, but I was told that it takes longer to open this way. Over the phone, it was instant. My accounts are linked through my online banking portal and RBC banking app, allowing me to transfer myself money easily and instantly. They also sent me a Visa Debit for my US account, which took about two weeks to arrive. Table 2. Payment methods for Canadian sellers and performers on various cam/content sites. I have omitted all instances of wire transfers (because they are slow, expensive, and usually have high payout minimums) and all instances of cheques (because they are slow). I have omitted all mention of ePayments because they no longer accept payments in USD.
Certain types of information were omitted for the sake of brevity. Of particular interest may be payout percentages, payout procedures, and payout intervals.
TL;DR Get a US-based bank account, Paxum, and Shakepay. I am open to questions, comments, and concerns! I would like this resource to be as tight as possible so be sure to let me know if you see any issues or gaps.
Regulations or positions of some countries about cryptoworld Because governments can sometimes be a bit touchy about attempts to create alternatives to the legal tender they enjoy a monopoly on printing, a wise investor might wonder about the legal status of cryptocurrencies. Indeed, the disruptive potential of these technologies has made governments around the world nervous, as they have struggled to devise appropriate regulations for the cryptocurrency realm without stifling innovation. Most potential investors have nothing to worry about from a legal standpoint, but it pays to do one’s homework. Regulations or positions of some countries about cryptoworld Some countries have banned or ruled unconstitutional the use of cryptocurrencies within their borders, while others have embraced them or even announced plans to issue their own. Of course, due to the inherently decentralized nature of cryptocurrencies, enforcement has proven difficult. Taxes levied on profits made trading cryptocurrencies vary based on their legal classification. Check the laws in your country, and make sure you abide by them when investing. Questions of legality in major markets have caused temporary dips in cryptocurrency prices over the years, but they have always recovered. Keep reading for a brief history of legal rulings and government announcements related to bitcoin that have helped shape the current ecosystem. February 2012 Payments services firms Paxum and Tradehill temporarily cease bitcoin exchange activities due to legal concerns raised by Canadian regulators. 28 March 2013 Cypriot investors drive up bitcoin prices seeking a refuge for savings when a government bailout program threatens to tap bank deposits. 14 May 2013 The United States Department of Homeland Security seizes almost $3 million from a subsidiary of the Mt. Gox exchange, claiming that the business is illegally engaged in money transmission without a license. 30 August 2013 Tradehill stops exchanging bitcoin, again due to regulatory uncertainty, indicating a growing need for government clarification on the legal status of cryptocurrency. October 2013 The U.S. Federal Bureau of Investigation arrests operator of Silk Road dark web marketplace Ross Ulbricht, alias “Dread Pirate Roberts,” charges him with computer hacking, money laundering, drug trafficking and attempted murder, shuts down the site and seizes over 170,000 bitcoins. In the wake of the shutdown, numerous other illicit marketplaces emerge, but are prone to exit scams in which operators abscond with bitcoins held in escrow. 18 November 2013 U.S. Senate holds hearing titled “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies.” Members express reservations about the potential illicit applications of cryptocurrencies so vividly illustrated by Silk Road, frustration at the difficulty of regulating something so difficult to understand, but ultimately hope that government will be able to create a system in which decent people have a “chance to try and play by the rules.” 22 November 2013 China’s central bank issues an equivocal statement on bitcoin that nonetheless greenlights Chinese participation in cryptocurrency exchange and investment, prompting huge price gains over subsequent weeks. 05 December 2013 Backpedaling somewhat in response to the widespread use of bitcoin to circumvent limits on capital outflows, China bans banks and other financial institutions from dealing with or offering services relating to bitcoin, ruling that it is not a currency. 25 March 2014 The U.S. Internal Revenue Service issues its first guidelines for bitcoin, ruling that it is to be taxed as property, not treated as currency. 10 April 2014 Under government pressure, Chinese banks begin to shut down accounts belonging to bitcoin exchanges. Prices drop 10%, but many exchanges exploit loopholes and offshore parts of their businesses to continue operating. July 2014 The state of New York announces plans to develop licensing requirements for businesses dealing in bitcoin or related services, which proves extremely unpopular with cryptocurrency advocates. 06 November 2014 Trendon Shavers, alias “pirateat40,” arrested for defrauding bitcoin investors in Ponzi scheme in 2012. 19 December 2014 Bitcoin entrepreneur and proponent Charlie Shrem sentenced to two years in prison for illegal money transmission charges related to the Silk Road marketplace. 25 January 2015 Coinbase navigates regulatory frameworks to win approval to operate a fully-fledged bitcoin exchange in 25 U.S. states and sets sights on further expansion. 25 March 2015 Hong Kong officials warn against potential fraud on exchanges, but indicate they will take a light hand regulating cryptocurrencies, classifying them not as legal tender but as “virtual commodities.” 29 May 2015 Ross Ulbricht receives sentence: life in prison without parole. Judge Katherine Forrest explicitly seeks to make an example of him and thereby discourage others from using cryptocurrency and the relative anonymity of the Internet to flout the law. 01 August 2015 Mark Karpeles, former Mt. Gox CEO, arrested in Japan and charged with falsification of records relating to the solvency of the exchange during its collapse. 10 August 2015 Deadline hits for compliance with New York regulators’ “BitLicense” rules, leading many exchanges to stop serving customers in the State. 22 October 2015 Crypto advocates hail a European court ruling that VAT does not apply to bitcoin and other cryptocurrency transactions, thereby classifying them as currency, not property. 10 November 2016 The state of North Carolina creates legislation to address bitcoin and money transmission, which regards businesses dealing in virtual currencies as subject to the same set of rules and licensing requirements that govern transmission 10 March 2017 The U.S. Securities and Exchange Commission denies Cameron and Tyler Winklevoss authorization to create a bitcoin-based ETF, citing inadequate regulation of cryptocurrency exchanges. 28 March 2017 The SEC denies the Winklevoss brothers’ second request for authorization of a bitcoin ETF, again citing concerns about the lack of regulation and potential for fraud on the exchanges. 01 April 2017 Japan recognizes bitcoin and other cryptocurrencies as legal tender and lays the groundwork for supportive regulations intended to permit legitimate investment while discouraging money laundering and terrorist financing. 04 September 2017 China prohibits fundraising via initial coin offerings, which it considers illegal. 07 September 2017 The European Central Bank rules out the possibility of Estonia launching its own national cryptocurrency, reaffirms the privileged status of the Euro as legal tender, and cites concerns that national cryptocurrencies would undermine financial regulations. 06 December 2017 Softening its initial stance, Russian regulators indicate that new rules may allow the purchase of cryptocurrencies, but forbid or heavily restrict mining activities. 07 December 2017 Regulators in South Korea ban trading in bitcoin futures as well as initial coin offerings(ICO), but will permit cryptocurrency exchanges to continue operations.
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