Welcome to a new section of the blog: OFM Basics — where we dive into the ultra-basic knowledge every OnlyFans agency manager should have to navigate this business. We’ll cover topics that are essential for day-to-day operations as well as key concepts that will help you make smarter strategic decisions. If you’re a rookie pirate in these waters, chances are you’ll find a few missing puzzle pieces here that’ll round out your general understanding of the game.
This particular guide is all about introducing you to cryptocurrency for transactions — not for investing, and definitely not for mining. We’ll stick to the fundamentals you need to know in order to use crypto effectively in the operational side of your OnlyFans business. If you’re here looking for investment tips or mining strategies, this article won’t be the one for you.
Breaking Free from My PayPal Addiction
Many years ago, when I first stepped into the world of digital marketing, I became best friends with PayPal. I saw it as the key tool to handle all my online payments. It was so useful that I became completely dependent on it. Every online business I ran revolved around that platform. PayPal meant security, speed, and solutions!
But then, I started exploring the darker corners of digital marketing—black hat tactics and beyond. And pretty quickly, I realized PayPal didn’t really fit in there. Very few providers accepted it, it wasn’t integrated as a payment gateway on many sites, and I often found myself stuck—VISA card in hand, with nowhere to use it. Nothing felt trustworthy, and in the rare places I dared to enter my card info, the bank would block the transaction due to potential fraud.
So there I was: no PayPal, no VISA… and feeling completely cut off. Meanwhile, I kept hearing people talk about USDT, Bitcoin, and other crypto stuff. Not only did I not understand a thing, but the whole crypto world overwhelmed me.
We’ve all heard the horror stories—crypto scams, flashy cryptobros selling smoke, and that undeniable casino vibe that seems to surround the scene. But once I started digging in, researching, and really learning how it works, I began to see the value. I learned where the actual risks lie and how to operate safely—eventually replacing my PayPal and VISA dependency with a practical, transactional use of crypto.
Let’s dive a bit deeper into the topic.
From Paper to Pixels: Why Crypto is the Upgrade Your Business Deserves
Fiat money is any currency issued by a government that isn’t backed by a physical commodity like gold or silver. Its value is based entirely on trust—specifically, trust in the government that issues it and in the market forces of supply and demand. The US dollar, the euro, and the British pound are all examples of fiat currencies. These are the legal tender we use in our everyday lives, regulated by central banks and financial institutions.
Cryptocurrency, on the other hand, is a digital form of money designed for peer-to-peer transactions without the need for a central authority like a bank. It operates on blockchain technology—a decentralized ledger system that verifies and records every transaction across a global network of computers. This ensures transparency, security, and immutability.
Here are some key differences between fiat and crypto:
- No central control: Cryptocurrencies aren’t issued or managed by any government or central bank.
- Decentralized and secure: Their creation and validation rely on complex cryptographic algorithms, which prevent duplication and fraud.
- Privacy-friendly: Crypto transactions can be conducted without revealing personal identity, offering a layer of anonymity not found in traditional finance.
- Borderless: Cryptocurrencies are global by nature. You can send and receive funds anywhere in the world without worrying about exchange rates or costly international fees.
However, it’s important to note that the legal status and level of adoption of cryptocurrencies vary widely by country. Some governments embrace them, while others impose strict regulations or outright bans.
If you want to explore this topic further, I recommend checking out the article “Countries Where Cryptocurrency Is Legal vs Illegal” It’s a great resource to understand where crypto stands globally.
Blockchain: The Crypto System That Won’t Let Anyone Steal Your Loot
The underlying technology that powers all cryptocurrencies is the blockchain—a decentralized and transparent ledger system. Every transaction made on the blockchain is recorded and verified across a distributed network of computers (also known as nodes), making it extremely difficult to alter or forge data. This setup eliminates the need for intermediaries, reduces costs, and boosts trust through verifiable transparency.
When a cryptocurrency transaction takes place, it follows a specific sequence designed to ensure security, transparency, and trust:
- The transaction is initiated and broadcasted to a global network of computers known as nodes.
- These nodes work together to validate the transaction, typically by solving complex mathematical problems using cryptographic algorithms.
- Once validated, the transaction is grouped into a new block along with other recent transactions.
- That block is then linked to the previous one, creating a continuous, chronological chain—this is what we call the blockchain.
This process of verifying and adding transactions to the blockchain is known as mining. Miners use powerful, specialized hardware to solve these cryptographic puzzles. As a reward for their work, they earn new cryptocurrency—this is how new coins enter circulation and how the network remains secure and decentralized.
One of the most important attributes of blockchain technology is its immutability. Once a transaction is recorded, it cannot be modified or erased. This makes the blockchain a tamper-proof ledger, ensuring that transaction histories are permanent, transparent, and highly resistant to fraud.
Gas fees are transaction fees paid by users to process and validate transactions on a blockchain network.
Navigating the Crypto Ocean with Stablecoins: No Waves
The cryptocurrency market is vast and constantly evolving, with thousands of digital assets circulating across various platforms. These assets typically fall into four main categories:
- Coins
- Tokens
- Stablecoins
- Non-fungible Tokens (NFTs)
Bitcoin, the original and most recognized cryptocurrency, is often dubbed “digital gold” due to its limited supply and store-of-value appeal. Operating on its own blockchain, Bitcoin serves primarily as a decentralized medium of exchange and a hedge against traditional financial systems. Since its launch, numerous other coins have emerged, each built on its own blockchain and offering distinct features and innovations.
Ethereum, for example, goes beyond basic transactions by enabling smart contracts and decentralized applications (DApps). It has become the second most valuable cryptocurrency by creating an ecosystem where developers can build blockchain-based services.
Tokens differ from coins in that they do not have their own blockchain. Instead, they are created on top of existing blockchains like Ethereum. These tokens serve specific purposes within particular projects or platforms and can take various forms—utility tokens for accessing services, security tokens representing investment contracts, and governance tokens that allow holders to vote on project decisions. A popular example is USDT (Tether), a stablecoin that maintains a fixed value by being pegged to a fiat currency like the US dollar.
Stablecoins are essential in the crypto economy, offering price stability in a highly volatile market. They make trading and day-to-day transactions more practical, especially in regions with unstable local currencies or restricted banking systems.
Lastly, non-fungible tokens (NFTs) represent one-of-a-kind digital items such as artwork, music, collectibles, and in-game assets. Each NFT is unique, verifiable on the blockchain, and has introduced a new layer of value and ownership in the digital realm.
Among the various types of cryptocurrencies, we’ll focus on stablecoins, as they are the most commonly used for transactions.
Stablecoins are a distinct class of cryptocurrencies specifically designed to maintain a consistent value. They’re typically pegged to real-world assets like fiat currencies (most commonly the U.S. dollar) or commodities such as gold. Unlike traditional cryptocurrencies, which are known for their volatility, stablecoins offer price stability, making them ideal for everyday transactions and a reliable store of value.
The most common and widely adopted type of stablecoin is the fiat-backed stablecoin. These are backed by reserves of fiat currency held in traditional bank accounts. The two leading examples in this category are Tether (USDT) and USD Coin (USDC). These centralized stablecoins are supported by real-world currency reserves, in contrast to decentralized stablecoins like DAI, which are backed by crypto assets and managed through smart contract mechanisms.
- Tether (USDT): As one of the earliest and most widely adopted stablecoins, USDT is backed by U.S. dollar reserves. It is supported across almost every major crypto exchange and platform, making it a staple for fast and global transfers.
- USD Coin (USDC): Issued by Circle in partnership with Coinbase, USDC is a fully regulated stablecoin. It’s backed 1:1 with U.S. dollar reserves held in trusted financial institutions, and its holdings are subject to regular audits, ensuring transparency and trust.
If you want to dive deeper into stablecoins, check out the article “Your 2025 guide to the best stablecoin cryptocurrencies”
My go-to stablecoin? Definitely Tether
Tether TRC-20 vs ERC-20 vs BEP-20: Tether (USDT) can be transferred across different blockchain networks, and the main difference between TRC-20, ERC-20, and BEP-20 lies in the blockchain each one uses. TRC-20 runs on the Tron network, offering fast and cheap transactions (often with zero fees). ERC-20 is based on the Ethereum network, known for high security but also higher gas fees. BEP-20 operates on Binance Smart Chain, offering a good balance of speed and low transaction costs (usually around \$1). All three represent the same token (USDT), but choosing the right one depends on what wallet or exchange you’re using—and how much you’re willing to pay in fees.
For the purpose of this article, the recommendation is simple: when making a transfer, just pick the available option with the lowest fee. Most of the time, that means going with TRC-20 or BEP-20.
Keep Your OFM Business Running Smoothly with Hot Wallets
Entering the world of cryptocurrency starts with understanding how to buy and sell digital assets. The process is relatively simple, but it requires careful attention to security and reliability. The first step is setting up a cryptocurrency wallet, choosing a crypto exchange, and executing transactions.
A crypto wallet, also known as a cryptocurrency wallet, is essential for securely storing and managing your digital currencies. You can choose between hot wallets, which are connected to the internet and ideal for frequent transactions, and cold wallets, which are offline and provide enhanced security.
For the purpose of this discussion, we’ll focus on hot wallets, as they are the tools that will enable you to trade within the OFM industry. If you want to learn more about cold wallets, I recommend reading the article “Cryptocurrency Wallet: What It Is, How It Works, Types, and Security”
In hot wallets, cryptocurrencies are not “stored” in the traditional sense. Instead, they exist as bits of data spread across a database. The wallet software locates all the bits associated with your public address and calculates the total amount, displaying it for you in the app.
Sending and receiving cryptocurrency is simple with these apps. To send cryptocurrency, you typically enter the recipient’s wallet address, specify the amount, sign the transaction using your private key, add a transaction fee, and send it.
Receiving is even easier—just share your address, and the sender follows the same process. Once you accept the payment, the transaction is complete.
It’s important to understand this: If your cryptocurrencies are stored on exchanges or hot wallets, you don’t actually “own” them in the traditional sense. You only have an equivalent representation of the cryptocurrency. The company behind the exchange or hot wallet holds the actual coins. This introduces a risk, though minimal, of losing access to your funds. To truly own your crypto, you should use a cold wallet. For more details on cold wallets, check out the article “Top Cold Crypto Wallets – Best Options Compared”
Crypto is pseudonymous, not truly anonymous.
When you use crypto, your wallet address is visible on the blockchain, and every transaction is public and traceable. While your name isn’t attached to the wallet by default, once you go through KYC on an exchange (or link your identity in any way), your wallet can be tied back to you.
KYC, or “Know Your Customer,” is a verification process used by financial institutions, crypto exchanges, and other regulated platforms to confirm the identity of their users. It typically involves submitting personal information such as a government-issued ID, proof of address, and sometimes a selfie for facial verification. The goal of KYC is to prevent fraud, money laundering, and other illegal activities by ensuring that users are who they claim to be. While it adds a layer of security and trust, some users prefer platforms that don’t require KYC for privacy reasons.
So: If you use a centralized exchange (like Binance or Coinbase) with KYC → not anonymous. If you use decentralized wallets and peer-to-peer platforms with no KYC → more private, but still traceable if someone knows your address.
Unlock Fast Crypto Transactions with Payeer: Your One-Stop Payment Platform
Payeer is a platform used for online payments. It supports credit and debit cards, bank transfers, and cryptocurrencies, including its own wallets and crypto exchange.
With Payeer, you can purchase crypto with your cards, receive or make payments in crypto, and manage your money flow. It serves as your central control hub for transactions, allowing you to pay for services via crypto transfers to providers (just share their wallet address) or make payments on various platforms where it’s integrated (similar to PayPal).
It’s fast, secure, and reliable. You’ll be able to transfer USDT via TRC-20 or BEP-20 while paying the lowest gas fees available.
Crypto Meets Everyday Life: Spend Your Earnings from OnlyFans Anywhere
The only drawback of Payeer is that you can’t link it directly to an OnlyFans account to receive payments there.
However, if you want to do something like this, I recommend opening a Skrill account. Then, add your Skrill account as a payment method on OnlyFans, convert the dollars into crypto, and send what you need to Payeer to run your agency daily.
But what if you need a debit card that works directly with crypto? Your VISA, Mastercard, or American Express won’t let you buy a Coke with crypto. That’s where another solution comes in: RedotPay.
RedotPay’s tagline is: SPEND CRYPTO LIKE FIAT! It allows you to transform your crypto into everyday purchases. RedotPay offers many features, but the key takeaway for this article is that it lets you complete the loop. By integrating it into your system, you can use it for purchases that require fiat money in your daily life.
And here’s where the circle closes: I started with my VISA card in hand, unsure where to use it to pay, and now I have a real physical card that allows me to spend the money I earned online for offline purchases. It’s amazing!
The Last Stop: Navigating the Sea of Payments with Crypto Power
In conclusion, venturing into the world of cryptocurrencies has been a game-changer for me, much like finding buried treasure after years of sailing the digital seas. I started with nothing but a PayPal account and a VISA card, both as useful as a leaky ship. But now, with trusty tools like Payeer, Skrill, and RedotPay, I’m able to sail through the choppy waters of online payments with ease, from receiving treasure to spending it on everyday needs.
It’s more than just staying afloat—it’s about taking the helm and navigating a new financial frontier, free from the shackles of traditional payment systems. So, I encourage you to set sail and explore the crypto waters. Find the tools that work best for your journey, and start hoarding your digital gold.
Think you’re just scratching the surface with OFM? You’re right. Join our Telegram group and discover how deep the rabbit hole really goes.
