How To: Make Money through TikTok

What is TikTok? How can you make money on it? What is TikTok’s currency and how can you withdraw it in the first place? Does TikTok take a percentage or a commission? Let’s find out

What is TikTok?

• It is a video share application that exploded in popularity in a very short period of time
• These videos range from 3 seconds to 3 minutes
• You can make money from TikTok in several ways and we will also explain how you can withdraw your tiktok balance

Download TikTok here

What is TikTok currency?

The currency used by TikTok is a virtual currency through which a follower can show their appreciation to those they follow (the influencers).

This virtual currency is linked to a real bank account where it is transformed into real currency that can be withdrawn

How can you make money on TikTok?

Live streaming: followers give donations to their favorite influencers during the live stream. You do need a huge number of followers though for this to work on a regular basis.

Attract followers: the more followers you have the better chance you have to make money. You will need interesting and exciting video material to attract more followers.

Product marketing: you can make money by marketing different products and services. Sometimes videos can be sponsored by specific brands as well. You can do this by directly marketing the product, for example talk about its benefit or its good points or indirectly by either showcasing it in the video or just adding the link to your video.

Rewards: currently not available in all countries the TikTok reward system allows you to make money when you share the TikTok app link with someone else who doesn’t already have it on their device. You can also get rewards by watching video segments and the longer the videos are the more rewards you get.

Criteria that will help you make even more money on TikTok:

Content: the more popular the content the more views you’ll get and your profit will increase. More on this here

Length: shorter videos get more views in most cases. People have shorter attention spans these days and not a lot of time to dedicate to each video they watch.

Likes: the more likes or hearts you get the more money you will have. It will also attract brands to your channel so you can market their products.

Also read: Make money on TikTok in 4 steps

How to withdraw your TikTok balance?

• PayPal
• Bank account
• The maximum amount you can withdraw depends on the method you use.
• Select “balance”, then “withdraw funds”, then the method you prefer

PayPal versus bank account:

PayPal:

• It is an electronic banking method that allows you to transfer money from TikTok to PayPal then to your card.
• Minimum transferable amount is 50 U.S. dollars

Bank account:

• Minimum transferable amount is 30 USD
• To activate the service you must enter an OTP that will be sent to your mobile number linked to your bank account.
• After you enter the OTP, select “link account” then enter the required information and click done.

How to: open a bank account?

Link your PayPal account with TikTok account:

Your PayPal account and your TikTok account must have the same first and last names as having a different name may cause delays in withdrawing money.

• Open a PayPal account
• Access settings on the top right
• Your personal link is under your profile picture
• Copy the link
• Access TikTok
• Access your profile
• Select the three dots on the top right then select “balance”
• You’ll find how many ‘coins’ you have on TikTok
• Select “withdraw” then confirm the amount you wish to withdraw
• Select PayPal. You must add your email link to PayPal and paste the PayPal link you copied earlier
• The minimum amount you can withdraw is $50 and the maximum amount per day is $1000

TikTok’s commission

• Tick tock as an app does not take a commission from withdrawals but PayPal may do so depending on where the client is located.
• The operation takes between 15 and 21 days to process.

Link your bank account to tTikTok:

To answer this question you will need the following information

• Swift code
• IBAN
• First and last names
• Address
• Mobile number

Also read the difference between IBAN, SWIFT and BIC