TikTok gifts are one great way for fans to show their appreciation to their favorite TikTok creator. If you happen to be a creator who recently received a gift on TikTok, you may be wondering what happens next?
Can you exchange your gifts for real-life money?
In this article, we will take a look at all of those questions and answer them to the best of our ability. Whether you are just getting started on TikTok or already have a decent following, TikTok gifts can be one fantastic way to boost your income from the TikTok platform. Without further ado, let’s first take a look at what TikTok gifts are.
What Are TikTok Gifts?
To receive TikTok gifts from your followers, you must be live streaming. During this live stream, your followers can send you gifts in a range of different sizes, each having its own worth. In order to accept TikTok gifts, however, you must first have at least 1,000 followers. If that is the case with you, let’s take a look at how you will know if someone has gifted you.
When you get a gift, the gift will appear on your live feed as a cute little emoji-like icon. During the live video, your followers can choose from the gifts that they have purchased to give directly to your pocket. It is kind of like receiving a tip for street performances. Within the TikTok app, users can purchase packs of coins. Using those coins, your TikTok followers can then purchase gifts, which they can then gift back to you.
What Is TikTok’s Commission on Gifts?
If you are interested in hosting live sessions to receive gifts from your followers, then you may be wondering how much money you might expect to receive. If you are given a gift during a TikTok live session, you will later be able to convert those gifts into diamonds. Diamonds can later be converted into actual cash. So the life cycle of a gift goes from the follower’s pocket into coins, coins into gifts, gifts into diamonds, and then diamonds into cash.
As a general rule of thumb, diamonds are typically worth half of the coin’s value. Using simple math, we can assume that TikTok is taking a 50% commission on the gifts that your fans send to you during a live session.
Read more: How To Make Money On TikTok?
Coins, Gifts, Diamonds, and More!
There are a lot of different types of payments floating around in the realm of TikTok. This can make it quite confusing when it comes time to figure out how to run your business. Especially when you are just beginning to dabble in the career of a social media influencer. We can make this more simple by explaining each of the types of currencies that are available within the TikTok app. Essentially, a diamond is the only type of “currency” within TikTok that can be exchanged for real money. One diamond is worth around $0.05. However, when you actually go to withdraw your diamonds, you might notice that TikTok will charge you a fee for withdrawing your earnings.
Coins are used to purchase gifts on TikTok. Coins cannot be gifted to other accounts nor can they be used in exchange for money. As a TikTok user, you can use coins from the app to give gifts to your favorite creators as a sign of appreciation. Gifts are also not able to be exchanged for real money. When you purchase gifts, you can convert them to diamonds. However, you will often lose money if you are doing this with gifts that you have purchased for yourself. Instead, it is a good idea to save gifts to give to creators when you are enjoying a live session.
Read more: How Much Do Creators Make Per TikTok Video?
Collecting Your Diamonds
Once you have collected enough diamonds, you can request that the monetary value of your points be transferred into your Paypal account. You will have to contact TikTok directly to learn more about the specific value of your diamonds. Some creators may have diamonds that are worth more than others. Large accounts, who draw in more TikTok users, may be rewarded with a larger value per diamond than smaller accounts.
Earning More Money
As a creator, you should always explore different methods for increasing your income stream. One surefire way of doing that is by continuously posting new, exciting, and relevant content to your TikTok account. When it comes to receiving more gifts, all you need to do is live stream more. Of course, there are different things that you can do to ensure that you get the most out of your live streams and ensure that as many people attend as possible. This will, of course, increase the likelihood of you getting more gifts and, as a result, you will make more money.
One thing you can do is promote your live streams ahead of time. Tell your followers exactly when they can expect you to go live. You can also try and follow a set schedule. This way, you will get the most traffic to your live stream.
Understanding TikTok’s currency is a complicated subject to tackle. There is no guarantee about how much money you can make as a creator on TikTok. The best way to find out is to jump into your account and begin creating reliable and relevant content. When you have a decent following, start going live on a regular basis. Over time, you will gain a stronger understanding of how much you can really make from gifts on TikTok as a creator.
You can read additional TikTok articles here.