
Get exclusive money-saving offers and guides
Straight to your inbox
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
SpankChain aims to build an Ethereum blockchain-based platform offering content distribution and micropayments and other services for the adult entertainment industry. The platform has a staking token SPANK that generates another token, BOOTY, that can be used for transactions on SpankChain.
At the time of writing, you can buy SPANK on cryptocurrency exchanges using US dollars, BTC, Ethereum (ETH) and other ETH-based alt-coins.
You can buy and trade SPANK on various cryptocurrency exchanges, including the following:
For an example on how to buy SPANK on an exchange, follow the steps below.
Look for a cryptocurrency exchange that allows trading with SPANK, using either fiat currency or various cryptocurrencies. Choose an exchange based on your funding preferences.
An email address and password is usually required to sign up for an account on an exchange. When setting up an account, you might want to add two-factor security to protect your coins. Exchanges often require two-factor authentication.
Some exchanges require account verification for all accounts while others only require verification if you will be using fiat currency for trading. On some exchanges, additional documents such as a photo ID and contact telephone number might be required during the account verification process.
You can skip this step if you already have an Ethereum wallet with available funds, since you can already start buying SPANK with ETH and other Ethereum-based coins immediately.
If you do not have an Ethereum wallet, you’ll require an exchange wallet to buy and sell SPANK. You must first generate a receiving address on the exchange wallet before you can deposit funds into your account.
The steps for depositing funds to your account varies between exchanges. You should look for a link to the exchange’s Deposit feature, where you normally choose your currency preference, and enter the receiving address on the exchange wallet.
After your deposited amount appears in your account, you are ready to buy SPANK. Although the steps for buying SPANK vary slightly between exchanges, it normally involves going to the exchange’s trading page, selecting an appropriate trading pair (such as SPANK/ETC), specifying the type, size and price of the order and clicking a button to proceed with the transaction.
The procedure for selling SPANK on exchanges is normally the same as when buying it, except that you click a “Sell”, instead of a “Buy”, button.
Spank Wallet – formerly Vynos – is SpankChain’s own in-browser Ethereum wallet. Spank Wallet offers anonymity and support for payment channels that allow users to group payments into a single transaction, minimising transaction fees in the process. It will also allow direct payments of BOOTY and other ERC20 coins to performers.
SPANK is an ERC20 token and can be held using other ERC20-compatible wallets, including the following:
Led by a team of adult industry and blockchain veterans, SpankChain came out with the idea of a blockchain-based ecosystem for the adult entertainment industry in late 2017.
SpankChain’s business model envisions a Spankbank where performers and viewers can stake their SPANK holdings and mint BOOTY depending on their share of SPANK. Viewers use BOOTY to pay performers.
Aside from BOOTY, other ERC20 coins can also be used as payments on SpankChain. The amount of BOOTY that can be generated per SPANK is expected to increase as SpankChain becomes more popular.
There are three layers in the SpankChain ecosystem: Apps, Services and Core.
You should be aware of the risks in cryptocurrency trading before buying SPANK, as cryptocurrencies are speculative and their prices are volatile. Consider the following factors when buying SPANK.
Staking is one of the most popular ways to earn an income with cryptocurrency – learn how to get started with this guide.
Ether's value continues to slide despite widening mainstream recognition, as competitor chains like Solana look to ramp up growth.
Learn more about the DOT cryptocurrency in this beginner’s and buyer’s guide.
Shockingly, this Dogecoin frenzy might turn out to be a doomed speculative bubble.
Learn more about the AAVE cryptocurrency in this beginner’s and buyer’s guide.
After forging a remarkable comeback over the last 48-hours, Ether may once again be set to test the $1,400 threshold.
Historical gains by Bitcoin and Ethereum lead the overall market cap of cryptocurrencies to approach $1 trillion.
Learn more about the RUNE cryptocurrency with this beginner’s and buyer’s guide.
The Harvest Finance hack is an excellent show of DeFi's problems, solutions and entertainment value.
See what's new in Swyftx's mass listing of 47 cyptocurrencies and other features.
Where to buy, sell and exchange Bitcoin and cryptocurrency.
Find out which digital wallet is best for you.
How to begin and what to do first.
SPONSORED: Why security and regulation will improve mass adoption.