Since the launch of TikTok in 2016, it has grown from 0 users to 689 million monthly active users. From just uploading videos, to now having trending videos on the Discover page, viral hashtags, advertising campaigns, collaborations and live videos, the social media app is doing better than ever.
These features that have been added to TikTok have also been adapted for content creators to make money. During the pandemic, many people turned to social media with influencers curating more content and using these platforms to earn a revenue. One of the features that TikTok developed is gifting on TikTok live. Gifting on TikTok is a new concept for many and you may not understand it when it says you have been gifted by one of your followers or someone who is watching your live video. We have broken it down for you to give you a better understanding of what it is and how you can convert gifts into money.
Within the setting of your profile, you will find a button called Balance, if you click this, you will then see something that says Coins Balance. Coins Balance will show you how many coins you have purchased, and if there are none then you can click on recharge to buy a certain amount. The minimum number of coins you can buy is 41 for 3.68 Dirhams, to 17,500 coins for 1,066.67 Dirhams. Once you have bought the coins, this will show up on your page, and you can begin to start gifting to your favourite content creators through virtual gifts. The coins cannot be refunded or exchanged for money so please note this before continuing to purchase.
If, however, you have received a virtual gift on your TikTok live, this will after be converted into diamonds. You can check your balance in the same way you have bought a coin by again, click on Balance, and continue onto LIVE Gifts where you can see your Total Diamonds. The UX of this is made very simple so you can find out what you are making easily rather than having to go through many different settings. Diamonds can be used to measure the popularity of your content and can be exchanged for money once you have received them. There is a minimum amount you would first need to be able to withdraw the cash and the option of payment service will be available to you once the option is available.
A gift on live gives you the opportunity to connect with TikTokers who may not already been following you and opens up a stream of revenue as a content creator or something who is starting. There is various way of making money on TikTok and there are ways to show your appreciation and support content creators.