You might have already heard of TikTok money and its monetary fund. But what is this new program, and how does it work? To clarify, TikTok money is not an ad revenue sharing program, nor is it a form of an arts grant. Rather, TikTok money is a way for the video-sharing platform to share income with creators.
Though it has generated quite a bit of controversy, it has been a hit. According to TikTok, the Creator Fund will reach $1 billion within three years if successful.
You can exchange TikTok money for TikTok Coins
In the video-sharing application, you can buy coins with your PayPal account or bank card and exchange them for virtual gifts. These coins can be used to tip your favourite content creators and can range in value from five to seven dollars.
You can exchange them for money in several ways, including sending gifts and tipping other users. You can use these coins to buy virtual items like watches, gadgets, and jewellery. The system of gifting is similar to that of Reddit.
ByteDance and TikTok Coin Exchange
You can give people virtual gifts for likes, comments, and views on your videos. ByteDance and TikTok coin values vary, but you can withdraw as much as $100 a week from your account, and you can exchange diamonds for cash. The exchange rate depends on the platform and the number of followers you have.
Another way to earn TikTok money on the video-sharing platform is through affiliate links. You can earn TikTok money by selling affiliate links and gift items. There is no limit to how much you can earn, and you can start with as little as 1,000 followers.
Earning TikTok Money through Affiliate Marketing
Despite numerous articles about TikTok on the Influencer Marketing Hub, people are still scratching their heads and wondering what this “TikTok Money” is. TikTok’s users watch 167 million hours of videos every internet minute.
In addition, TikTok was the most popular app downloaded globally in 2020 and 2021 across both the iOS and Android app stores, beating giants such as Facebook, Instagram, and YouTube. It enjoys higher engagement than these social media apps.
Affiliate marketing for TikTok money works much on other social platforms. TikTok is merely a selling venue of choice for the affiliate marketer. Don’t try and sell something merely because it pays you a high commission level.
If the bulk of the people who watch your videos are in their twenties, there is little point in trying to promote stairlifts, walking sticks, or other things that appeal to the elderly. You will do far better finding affiliate offers for fashion, lifestyle, technology, and consumer products.
How can you lead people to buy the product and ensure the product creator/merchant or affiliate network knows that you sent these consumers?
Unfortunately, you can’t usually place a link in your TikTok videos or captions, although TikTok has often experimented with this. Instead, you must learn a lesson from Instagram and include a link in your TikTok bio.
It is generally the best organic way to drive traffic outside of TikTok, so it is the ideal place to include the custom link the affiliate company or network gave you. Then, once you have a link in your TikTok bio, you can reference it in your videos.
TikTok hasn’t given everybody this capability yet. If you don’t, you may be able to access it by joining the TikTok tester program. You will also need to change to a TikTok Business account if you currently only have a personal one.
How to add a clickable link to your TikTok bio
- Tap the Me icon at the bottom right corner of your screen
- Tap the Edit Profile button
- If your bio can include a link, you will see a section asking you to add a URL. Insert the affiliate link your affiliate company or network has given you, a link to your website, or a custom landing page. Suppose you have separate links for multiple products. In that case, you must select the most important one for your current affiliate marketing promotion and repeat this process each time you want to promote a different product. It might be worthwhile putting your link through a URL shortening tool first to make it look more streamlined.
- Tap the Submit button
- Check your bio and make sure that it shows your link (and that it is clickable – use your mobile phone to double-check this)
Using a link to a landing page or your website gives you more opportunities to promote affiliate products, and it works better if you are promoting multiple products. You will, of course, first have to create an informative website or landing page to send potential leads to from your TikTok account.
You can even make thousands of dollars a week with this method. If you’ve already created a successful TikTok account, you can exchange your TikTok money for real cash.
Selling Your Merch on TikTok
Another way to earn TikTok money is to sell your merch. Several online shops help you to sell merch. Shopify, for example, is one of the most popular options. However, it can be expensive. Those with limited budgets can sell their merch on eBay and Etsy.
You can even sell your merch if you have a large enough TikTok fan base. Then, you’ll have a steady flow of TikTok money. Diamonds are earned by creating high-quality videos. One of the best ways to get more Diamonds on TikTok is by offering gifts to your favourite creators.
This feature allows viewers to send virtual gifts to your videos. Viewers must first purchase virtual TikTok coins in the app to receive a gift. TikTok will then record the number of gifts a creator has received.
Those who receive gifts can exchange them for Diamonds to further increase their income. To know how to earn Diamonds on TikTok, you must first create high-quality videos. To do so, you must follow the TikTok community guidelines and have a minimum of three videos posted in the past 30 days.
In addition, you need to have a PayPal account to withdraw your Diamonds. If you are not a resident of the United States, you can also apply for a free TikTok account if you want to withdraw your Diamonds in that country.
You can Earn TikTok Money by giving Gifts to Your Followers
Another great way to make money on TikTok is to give gifts to your viewers. TikTok is an app that lets you give gifts to your viewers during your live streams and earn money. Diamonds are worth about half the value of coins, so you can earn a decent amount of money if you put some effort into creating quality videos.
You can withdraw up to $100 a week by creating high-quality videos. You can also withdraw the cash using your bank account or PayPal. If you’ve got a following of 1,000 people on TikTok, you can earn real money. The trick is to find brands to sponsor your videos and earn some extra cash.
Then, you can become a fan favourite and receive gifts from TikTok users. Once you’ve earned enough diamonds, you can withdraw your money through supported payment services, earning up to $1,000 weekly.
You can withdraw your earnings if you wish. If you don’t have enough money to withdraw, you can exchange your earned currency for real money in PayPal. To receive the live gifts, you must have enough coins to buy them.
Once you have enough coins, you can choose a gift you would like to give your viewers. You can send a live gift to your followers; the gifts are only sent to popular users. To send a gift, you must earn coins through the TikTok website. You can cash out your Diamonds for real money if you wish.
To withdraw your earned coins, you must have at least a certain number of followers. You can earn more coins when you reach the minimum number of followers. You can also earn TikTok money from live videos by purchasing TikTok diamonds, which you can exchange for dollars later.
The amount of money you can earn will depend on how well you promote your videos. Using the tools on TikTok, you can earn money from your videos and continue developing your channel.
One of the main reasons that content creators should start posting videos on TikTok is to build a fan base and increase revenue. Although a smaller channel can be a little slow initially, it can still earn money by becoming popular on viral trends.
TikTok money is live gifts that aren’t for everyone, and you may not see results immediately. But if you want to earn a living, the live gifting feature is a great way to do so.
Through In-app coins
In-app coins are a great way for users looking to earn money with TikTok. Purchasing in-app coins are simple and can be done with real money. Users must be over 18 years of age to buy in-app coins, so you must also verify them.
Once the user has verified their age, they will receive the coins in their wallet. After purchasing in-app coins, users will receive them within seconds. The amount of in-app coins you can purchase on TikTok varies.
For example, you can purchase coins in bundles of one hundred, five hundred, or ten thousand. The larger bundles offer a higher discount. You can then use these coins to purchase virtual gifts.
However, be aware that these in-app purchases cannot be refunded or exchanged for cash. You can also not use third-party services to purchase virtual currency in TikTok.
If you don’t have a credit card or don’t want to use your card, you can also purchase TikTok coins via the desktop website. To do this, log in to your TikTok account and click on the ellipsis icon at the top-right corner.
From there, select Settings and Privacy. Once on the Settings page, select Payment. Once the transaction has been completed, your in-app balance will reflect the number of coins purchased. You will get a notification as soon as your transaction is complete.
They will add the coins to your account within 24 hours. Once accumulated enough in-app coins, you can send virtual gifts to your favourite creators. It is a great way to reward your favourite TikTok users. There are many ways to send gifts, including using gift cards.
Gifts are sent in different amounts, and the value of each type differs. You must understand the difference between them and the coins you have in your account. You can only send gifts to your favourite TikTok creators.
Virtual gifts on TikTok are a unique way to show support to your favourite TikTok creators. Users can send virtual gifts to one another and earn coins and diamonds. Users who donate coins can also receive emojis as a gift.
These virtual gifts are sent directly to the TikTok account of the person who receives the gift. You can use the gift to unlock exclusive features, like being able to send emojis to your favourite TikTok videos.
Users can buy gifts from their audience when they reach a certain amount of followers. Before shopping for gifts, you must first purchase coins in the in-app store. The gifts are tiny, animated cartoons that dance around your screen during live streams.
You can earn multiple gifts during one live feed if you’re a good producer. However, it is best to remember that you can only purchase certain items with coins. Before you can send virtual gifts to your viewers, you must purchase virtual coins.
You can do this through the profile settings tab under the ‘Balance’ section. After buying the coins, you can check your dollar balance and withdraw them to your bank account. You can also withdraw these virtual gifts from your account in the form of diamonds equivalent to $0.05.
When you send a gift, you can’t receive it right away, but it will appear immediately in your stream. Once you have earned enough coins to buy virtual gifts, you can exchange those coins for real money. To reward your favourite TikTok creators, you can send them virtual gifts in various amounts and forms.
To send a gift, click ‘Give Gift’ under the video you want to give. Click ‘Give Gift’, and you’ll see the recipient’s name and the type of gift you’re sending. When you have enough coins, you can also buy unlimited TikTok coins.
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