TikTok is not only a platform for entertaining and educational content, but also allows users to make money through virtual gifts. Every virtual gift can be purchased or cashed in a different way. However, one thing they have in common is that they are all rewards to the TikTok content creators. 

TikTok users can join the Live Stream Program and try to earn gifts through utilizing them. Some of the most popular users can even make thousands of dollars. If you are starting to consider this, read the article to get familiar with the different types of virtual gifts and currencies.

How To Collect Money From TikTok

If you want to find a way to turn TikTok into a real income, then virtual gifts and currencies are probably a good way to start. Content creators can actually cash in the gifts they have received by using a PayPal account. When you reach a certain amount, you will be able to do so in the desired currency. 

If you are wondering where to start making money on TikTok, learn more about the different types of virtual currencies and how they differ. 

What Are TikTok Coins?

Coins is a currency introduced by TikTok. Fans can buy their favorite creators gifts as a sort of reward by using these coins. 

Users can buy TikTok coins by clicking on the three dots on the top right corner and selecting Balance. If you haven’t bought any before, your balance will be 0. Click on the Recharge button and you will be able to see how much coins actually cost. The coin bundles may vary by the country you are in and the respective exchange rates. An example of how much coins could be is the following: $1.29 = 70 coins, $6.49 = 350 coins, etc. 

Use AppleID or Google Pay to make the transaction and reward your favorite TikTok users.

What Are TikTok Gifts?

TikTok gifts are rewarded during creators’ live streams. If you are watching the live stream and want to give a gift to the user, you should click on the Gift icon at the bottom, purchase one and send it. The gifts are also different and may vary by price:

  • Panda – 5 coins
  • Italian Hands – 5 coins
  • Love Bang – 25 coins
  • Sun Cream – 50 coins
  • Rainbow Puke – 100 coins
  • Concert – 500 coins
  • I’m Very Rich – 1000 coins
  • Drama Queen – 5000 coins

In return, creators usually make thank-you lives after they receive it or offer them to do a duet if the gift was a more expensive one.

Earning Gift Points

One of the most important ways to receive more and more gift points is by learning how to get more followers. In order to be eligible for receiving gifts, you need to have at least 1,000 followers. This is why you should be able to utilize all the in-app features and functions available on the app. Start making more duets and try to engage with other users in order to become one of the most popular TikTok content creators. 

With that said, you should also know that there are hundreds of scammers out there that you should beware of. They try to exchange gifts for follows and likes but end up giving you nothing of what was promised.

What Are TikTok Diamonds?

At the end of every live session creators can collect these diamonds as gifts. These diamonds are virtual credits that go into the balance or the wallet of the user. In order to check how much you have, click Balance and then Live Gifts. You can see your balance in USD. One diamond equals $0.05. 

What is very important here is that only users and creators who are 18 or older can purchase or receive coins, gifts and diamonds. 

 

Difference Between Coins & Gifts & Diamonds

The major difference between the three types of currencies is that only diamonds can be cashed. Neither TikTok coins nor gift points can be transformed into a real currency. However, the gifts and coins can be turned into diamonds. Here’s how!

A diamond’s real cost is $0.05 but there is a TikTok fee on top. The minimum amount that you can withdraw at one time can vary from $100 to $1000 per week depending on the creator company of the app – ByteDance.  

In order to be more clear for you, here’s how the process works. If you really like a creator’s content, you can give them an emoji. This takes away gift points from your account and donates them to the other one. Later on, these points are converted into diamonds and then can be withdrawn to your PayPal account. The cash value of the coins is determined by the exchange rates at the moment. 

All of these TikTok donations are voluntary but if you really like a certain user, you should show your support through a gift. You are giving a talented creator or an artist a chance to continue doing what they love and make you happy with their content!

Now that you already know how to make money on TikTok, check out this article to see how TikTok makes money and learn more about its business model!