TikTok does not yet have full-fledged monetization, but everything is heading towards that. We already wrote in an article about SMM trends 2021 that in some countries ad display in video is selectively tested, but when the innovation will reach the Russian Federation is still unknown.
So far, one of the real ways to make money on this social network is to receive virtual coins from subscribers during live broadcasts and withdraw them into real money. In the article, we will tell you what coins are in general, how to earn them, send them to other TikTokers, and withdraw them from the system.
Recommended: Jesica is an Instagram promotion app (from the creators of Instaplus.me). Install Jesica on your Android phone or computer and the app will like, subscribe and unsubscribe as if you were doing it yourself:
- No blocks. The limits work as if you were doing it all manually.
- Safely. You do not need to enter a password for your account.
- High speed. You can put up to 1000 likes and 500 subscriptions per day.
Try 5 days for free >>
Read also: How to download videos from Tik-Tok
What are Tik-Tok coins and how to use them
Coins (TikTok Coins) are the internal currency of the social network. The user buys virtual coins for regular money in their national currency. Coins go to the account balance in TikTok, after which they can be exchanged for gifts and sent to your favorite bloggers during live broadcasts. The blogger will be able to withdraw the coins accumulated during the stream into real money.
How to buy coins
There are 2 ways – to deposit money on your account balance in advance or buy coins while watching a live broadcast.
1 way… We go into the settings of the Tik-Tok account (3 dots in the upper right corner), find the item “Wallet” in the menu.
The wallet indicates how many virtual coins are on the balance. Here you can also view information on earnings, buying coins and withdrawing funds: activity rewards, gifts for broadcasts, income and transactions.
To buy coins, click on the red “Replenishment” button.
Select the number of coins and click on the button with the amount. Coins can only be purchased in a ready-made package from 65 to 7,000 (not individually). 65 coins cost 99 rubles. One coin costs 1 ruble 52 kopecks, but prices may vary…
To pay, you must first link a bank card, after which you can make purchases in the application.
2 way… We open the blogger’s live stream. There will be a gift icon in the lower right corner. Click on it. The catalog of gift stickers opens. Under each is written how many coins you need to buy it.
In the lower left corner, you can see the total balance of coins, and in the right, the button to replenish the account. Click on it.
We select a package of coins and pay with a linked bank card.
Important: purchased coins cannot be returned back to a bank card or withdrawn to PayPal. They can only be spent in the app. Therefore, always carefully watch how many coins you buy.
TikTok currency does not have a limitation period, you can keep as many coins as you like on your balance. Users over 18 years old can buy virtual currency.
How to spend coins
Coins are needed to send a paid sticker to the author of the live stream. This is a token of gratitude or a tip for creating content. We have already written above how to find and buy stickers when watching a stream.
How to earn coins at Tik-Tok
The answer follows from the previous points – to conduct high-quality live broadcasts so that viewers would like to give you stickers.
Important: In order to be able to conduct live broadcasts on TikTok, you need to gain at least 1,000 subscribers.
The scheme is simple: subscribers buy coins, purchase stickers for them during live broadcasts, the stickers are converted into diamonds on the blogger’s balance, upon reaching the withdrawal limit ($ 100), the blogger removes them from the system.
How to increase your chances of getting coins during a live broadcast:
- share useful content – life hacks, master classes, collections;
- actively communicate with viewers during the stream, answer their questions;
- Allow subscribers to suggest content ideas or topics while streaming, and then shoot new videos based on them;
- hold contests during streams;
- promise to perform a certain action for the donation, for example, “I will film a duet / broadcast live with a person who will give me 6,000 coins” or “I will love all your videos if you send me 10 coins” or “I will subscribe to you for 25 coins “.
PS In Russia and the CIS countries, the tradition of tipping is not as widespread as in the West. If at first the streams will not bring the desired income – do not be discouraged, but simply work further on the content in order to gain more subscribers and viewers of live broadcasts.
How to withdraw
The withdrawal is available if there is at least $ 100 on the balance (namely dollars, not coins). This is about 20,000 diamonds. The maximum withdrawal amount per day is $ 1,000. Money is withdrawn to PayPal within a few days (up to 3 weeks).
In the paragraph for adding money withdrawal methods, it is written that they differ from country – this means that in the future additional possibilities for withdrawing money may appear, for example, national payment systems.
Money can be withdrawn in any of the three sections of the wallet: Activity Rewards, Broadcast Gifts and My Income. Upon reaching the limit, the “Withdraw” button will be active.
TikTok does not charge withdrawal fees, but PayPal does.
Important: you need to specify the real user data by linking a PayPal wallet, otherwise the withdrawal of money will be blocked.
If the money didn’t come
This rarely happens, but if you are not lucky, you can contact TikTok technical support regarding transactions (email address: [email protected]) or PayPal technical support (problems may be on their side).
There are diamonds, but the balance is still 0 – what is the reason
Wait until you have at least $ 1 on your balance – the figure should change.
Other ways to monetize in TikTok
Coins are not the only way to make money on TikTok. How else can you earn income through this social network:
- advertise music tracks of new artists for money;
- advertise other people’s goods and services;
- shoot a video to order about other bloggers;
- make money on affiliate programs;
- promote your specialist services;
- sell expert content such as books and tutorials;
- sell goods: physical, digital or someone else’s by dropshipping;
- make money on assignments – subscribe, like and comment on other people’s videos;
Each method was discussed in detail in the article “How to make money in TikTok – all schemes and methods.”
Tik-Tok coins allow you to earn real money. If you want more coins – conduct more live broadcasts, work on the quality of the content and attract new subscribers.
To be honest, Tik-Tok lacks the ability to send coins in short videos (and not just during live broadcasts) and on the account page. That is, just donate to your favorite author. The user may want to thank the blogger, but he rarely hosts live broadcasts or does not conduct at all. Or the subscriber simply does not have the opportunity to get on the live broadcast. This is lost revenue for content creators.
Perhaps Tik-Tok will add this functionality in the future, and then not only streamers, but all content creators in general will be able to earn coins.