Being a social media influencer can be a very fruitful career choice. From advertising and brand partnerships to donations from their supporters, influencers are able to make a lot of money in a variety of ways.
While a lot of influencers make their living from social media platforms like Instagram and Twitter, TikTok is another great platform where you can make money online via donations known as gifts.
Being an online marketing entrepreneur is a dream job for pretty much every teen or young adult, and many of them are successful at it. If you’re one of these aspiring social media influencers, you probably already know how people make money on apps like Instagram, but you might also be interested to learn how TikTok gifts can add to your revenue stream.
So, without wasting any more time, let’s take a look at how TikTok gifts work and how influencers are making so much money from this popular short-form video app.
How TikTok Gifts Work
Gifting on TikTok can be a little confusing because there are several types of in-app currencies. In order to get TikTok gifts, one must purchase TikTok coins first. These are available in different bundles. The bigger the bundle, the bigger the discount.
You can buy these coins using different payment options are available through Google or Apple services. When you make a purchase, the coins are added to your TikTok account. These coins cannot be refunded or exchanged for cash. The use of third-party services here is strictly prohibited and it can get your account banned.
Once you have obtained the coins, you can exchange them for a variety of unique virtual gifts. These gifts are used to reward your favorite content creators on the platform.
If you enjoy their content, you can reward them by sending gifts in various amounts and forms. All you need to do is select ‘Give Gift’ below the video. Everyone watching the video and the person who created the TikTok will be able to see your username and the type of gift you gave them.
How Gifts Convert into Diamonds
Just like TikTok coins, gifts cannot be exchanged for any currency. Once you give a gift to somebody, it will disappear from your account and appear on theirs in the form of a diamond.
Diamonds are used to measure the praise and popularity a content creator gets on TikTok. They cannot be bought with money.
How to Exchange Diamonds for Cash
Though they can’t be bought, Diamonds can be exchanged for cash once received. You can see how many diamonds you have on your user account.
Their value varies based on the standards made by the developer of TikTok, ByteDance. When you make enough diamonds, you can collect the cash via PayPal or another verified payment service. The minimum withdrawal amount is $100. The maximum amount you can withdraw weekly is $1,000.
Note that none of these in-app currencies can be traded with other users and the owners of the app can change your balance if they find it fitting.
How People Make Money On TikTok
Think of people who post videos on TikTok as entertainers and content creators. It can easily be compared to Twitch where viewers support their favorite streamers by subscribing, making donations, and cheering for them.
The main difference, of course, is that Twitch is centered around gaming while TikTok is more of a music and entertainment app. Still, the basic concept of supporting creators with gifts is more or less the same.
There are various methods of gaining popularity on TikTok. You can sing, dance, or make memes and funny videos. The platform has over 500 million users around the world, so there is a lot of potential to gain a very large audience. You just have to come up with a niche — something you are good at.
Remember that you have to be creative and engage your audience. Patience is a virtue. Know that fame will most probably not come overnight. Then again, maybe you put out a viral video and become recognized right away. Who knows?
Most of the top influencers on TikTok use other platforms as well, like YouTube, Instagram, Twitter, etc. These platforms allow creators to generate traffic from multiple platforms in order to cultivate as big an audience as possible. Some big companies, like Coca-Cola, have turned their heads toward TikTok and made ads inviting people to join them on this app and record themselves doing something using their hashtag.
In addition to big companies, some celebrities are on TikTok as well. This draws attention to the app and makes it grow even faster, meaning your audience could be even bigger in the future.
Sharing Is Caring
The so-called Diamond Program on TikTok is a little complicated, but hopefully reading this helped you figure it out. Remember that the coins and gifts you purchase are non-refundable, so use them carefully.
Good luck with earning your diamonds and becoming an Internet celebrity, if you choose to do so. Keeping people’s attention these days is very difficult, so try to be imaginative and have fun.
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