TikTok has been growing tremendously over the past few years. A lot of users have utilized this platform to generate a source of income for themselves. One of the most common ways to monetize content is by earning virtual gifts that can be brought using the app’s in-house currency, TikTok Coins.
In this blog, we will try to answer all your questions and queries related to TikTok Coins.
- How much is 1000 coins on TikTok?
- How to earn TikTok coins?
- How do TikTok coins work?
- How to convert TikTok coins to cash?
- The Difference between Coins, and Diamonds
- Types of TikTok gifts
- The Highest-Earning Creators on TikTok
- How much is 500 coins on TikTok?
How much is 1000 coins on TikTok?
The value of 1000 coins is approximately $12.98.This is not the exact number. The foreign exchange rates are volatile; therefore, the number of coins you get for a dollar today may not be the same as yesterday.
If you are a content creator, let’s assume you have $1000 in your account. To withdraw real cash from these coins, TikTok will charge a 50 percent commission on them. So, 1000 coins will give you approximately $6.49.
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How to earn TikTok coins?
Content creators can earn TikTok Coins by doing a live stream. Followers and viewers of an influencer can send them gifts in the form of emojis when they go live. The more gifts you will receive, the more coins you will earn.
Users need to purchase the TikTok Coins with their real money. Coins are basically a form of in-app currency that anyone can buy to tip their favorite TikTok influencer and creator in the form of gifts. For example, the Rainbow Puke emoji costs 100 Coins.
To earn more TikTok Coins, you must upload content consistently and build a strong community. Always, make a schedule in advance and let your TikTok followers know about it. This way more people will join your TikTok live video.
How do TikTok coins work?
Once a TikTok user has purchased the Coins, they can store them in their wallet. The Coins can be used within the TikTok app as it’s an in-app currency. You can only buy coins if you are 18. You should be an adult. Also, they are non-refundable.
Users can make use of these coins to buy gifts for their favorite creators. If you send someone a gift, that particular amount of Coins will be deducted from your wallet. Each gift has a different monetary value. The more expensive gift you buy, your chances of getting mentioned on a live stream by the influencer will go up.
How to convert TikTok coins to cash?
You can convert coins to cash by going to your coin balance on TikTok. Over there, you can see your balance, and there is also an option of ‘cash out’ alongside ‘recharge’.
If you want to cash out your coins, it is mandatory to have a PayPal account linked to your TikTok account. To link your PayPal account, you just simply have to fill out your TikTok account details, and it will get linked.
When you are on the balance page, go to the option of ‘live gifts’. There, the coins will be converted into diamonds. You can easily cash out these diamonds in your PayPal account instantly.
The Difference between Coins, and Diamonds
You cannot cash out TikTok Coins for real money. However, a creator can use diamonds to exchange them for real currency. Any TikTok creator can see the number of diamonds they owe in the ‘Balance’.
When a user purchases a gift for the creator, they do it by using TikTok Coins. The content creator receives the TikTok gift points that can be later converted into diamonds, and ultimately exchanged for real money.
Also Read: How Does TikTok Make Money?
The value of a diamond is half the value of a coin. It simply means, that 2 coins are equivalent to 1 diamond. Currently, 1 diamond is equivalent to approximately $0.05. Once a creator has diamonds worth $100 then only they can withdraw them in cash.
Types of TikTok gifts
Virtual gifts are one way through which creators can monetize their content. Once a creator has 1000 followers, they can start accepting gifts while live streaming on TikTok. They can give them different emojis in the form of gifts.
A user can only send and receive video gifts if their age is 18. If a user lives in South Korea or Japan, their age requirements are 19 and 20, respectively. Basically, you should legally be an adult in your country.
Once a creator has collected gifts, they can exchange them for diamonds and eventually get cash in their PayPal account. These gifts are of different value. They have to be bought in the app’s in-house currency TikTok Coins.
One of the most common gifts all the creators get is roses. It is one of the cheapest and the most common gifts used to tip creators. It is worth 1 TikTok Coin. Some gifts can be very expensive.
Most Expensive Gifts on TikTok
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TikTok Gifts added in 2022:
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Other Famous Gifts:
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The Highest-Earning Creators on TikTok
Influencers can earn a lot of money via TikTok. Let’s see the top TikTok stars and their earnings.
She is the most followed TikTok star on the app. She earns more than $17.5 million per year and has 133 million followers. She has done brand partnerships with famous brands like Prada, Dunkin Donuts, Morphe Cosmetics, etc.
Dixie D’ Amelio
Dixie Amelia, Charli D’Amelio’s older sister, is the second most-paid TikTok influencer. She has more than 57 million followers and earns more than $10 million per year. She focuses on music and has even released her single called “Be Happy” in 2020.
Addison is the most beloved TikTok star with more than 86 million followers. She even landed the lead role in the Netflix series ‘He’s All That’ and earns more than $8.5 million through TikTok. She has launched her make-up line, ‘Item Beauty”.
Bella Poarch’s TikTok has grown rapidly over the last two years. She has close to 87 million followers and earns more than $5 million annually. She has collaborated with brands like Google, Prada, and Tinder and even released her own single, “Build a Bitch”.
Josh has more than 26 million followers on TikTok and earns more than $5 million per year. He is famous for his singing and lip-sync videos. He has even co-founded a talent management agency, Talent X, and joined Thriller, another short-form content app as their Chief Strategy Officer.
How much is 500 coins on TikTok?
The value of 500 coins is approximately $6.49. Please note that the value of the coins can fluctuate and can differ from country to country.
If you are a content creator, let’s assume you have $500 in your account. To withdraw real cash from these diamonds, TikTok will charge a 50 percent commission on them. So, 500 coins will give you approximately $3.20.
Why can’t I withdraw cash from the diamonds I owe?
There can be two reasons for it. Firstly, you owe diamonds less than the worth of $100. If this is the case, then TikTok won’t allow you to withdraw money less than $100. Otherwise, TikTok can suspend your withdrawal when it senses some unusual activity in your account that violates its community guidelines.
Why can’t I receive TikTok gifts?
You may not be able to receive gifts if you are under the age of 18. TikTok has made this policy to protect minors from any kind of harassment. Also, you need to have a verified TikTok profile with at least 10,000 followers to start receiving gifts.
Do I have to pay any taxes while withdrawing?
Yes, you have to pay taxes for the income you receive from TikTok as per your country’s legal rules and regulations.
Why is TikTok not taking my PayPal information?
Make sure, the account details of the PayPal account you have linked are the same as TikTok account details. You cannot link someone else’s PayPal account. Also, you should have an active PayPal account for the last six months. Also, make sure you are meeting all the other eligibility requirements laid down by TikTok.
TikTok is an ideal social media platform to earn money for any creator. TikTok Coins is one such method to monetize your content. TikTok Coins is an in-app currency through which users can buy gifts and show their affection towards their favorite creators. Other methods include TikTok Creator MarketPlace, Creator Fund, brand partnerships, etc.