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ToggleHow to Cash Out Your Tik Tok Coins
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Using Instagram as a model, TikTok offers a valuable platform for promoting products, music, videos, and more. The app is widely used by individuals to showcase products and receive compensation from the associated brands, commonly known as influencers.
To monetize your content on TikTok, all you require is creativity and a substantial following. Companies are prepared to pay anywhere from $200 to $20,000 for each sponsored video based on your follower count.
Once you have amassed over $100 (equivalent to approximately 10,000 coins) in your profile from creating paid videos due to your significant following, you can initiate a withdrawal of funds from the app. These coins are transformed into diamonds and can be converted into cash upon withdrawal.
This post covers all the essential aspects you need to understand to withdraw money from TikTok.
Rules for Withdrawing Cash from TikTok
A prerequisite for receiving funds from TikTok is having a validated PayPal account. If you don’t have one, you must sign up for PayPal and ensure all information, including credit card details and address, is accurate. Responsibility for any transaction-related issues lies solely with you, underscoring the importance of providing correct details.
Tik Tok Withdrawal Rules
- The minimum withdrawal amount is $100. You are unable to withdraw less than $100 under any circumstances. TikTok mandates that you have a balance exceeding $100 in your account before processing a withdrawal. If your content isn’t generating substantial revenue, it may be prudent to wait until the amount accumulates before making a withdrawal.
- The maximum daily withdrawal limit is $1,000. Each day, you can only withdraw up to $1,000 from your TikTok account to your PayPal. For example, if your TikTok balance is $3400, you would need to spread out the withdrawal over four days, withdrawing $1000 daily for the first three days and the remainder on the fourth day, despite the inconvenience this may cause.
Prior to requesting withdrawals, you must agree to the platform’s Terms of Service.
How to Withdrawal from TikTok
Initiating withdrawals from TikTok is a straightforward process that takes only a few seconds. Familiarize yourself with the TikTok Withdrawal rules and terms before proceeding with the following steps:
- Begin by opening the TikTok app.
- Access your profile by selecting “Profile” and tapping on the three horizontal lines in the top-right corner to navigate to settings.
- Navigate to “Settings and privacy.”
- Click on “Balance.”
- Select “Live Gifts.”
Once you have completed the above steps, the money should now be in your PayPal account. Keep in mind, you can only cash out when you have more than 10,000 coins in your TikTok account.
TikTok Coin Cash Out FAQs
What Are the Transfer Fees?
While the TikTok app does not charge transfer fees, PayPal does. The fees can vary based on your country of registration and the nature of the withdrawal transaction (like donations or non-personal transfers). PayPal may charge you a 2% fee or more, along with fixed fees for each money transfer.
How Long Does It Take for the Money to Get Transferred?
If you need the money urgently, be aware that TikTok takes up to 15 days to review your withdrawal application for security reasons. Sometimes, the approval process can take even longer. Once TikTok approves the withdrawal, PayPal may further delay the process.
PayPal’s security checks could result in a hold on your funds for up to 21 days before they become available in your PayPal account. If you plan to transfer the funds from PayPal to your bank account, expect to wait an additional day, or up to 7 business days. Essentially, there is a considerable waiting period before you can access your earnings from TikTok.
How Much Money Can You Make?
Monetizing on TikTok is challenging and requires creativity and a substantial audience to become an influencer. Even if you start earning, maintaining relevance and consistently producing high-quality content is a full-time commitment.
If you achieve success, the earning potential can be significant. Reports suggest that the top 10 performers earned an average of $46,000 in just two weeks in 2016. For example, Bart Baker made $30,000 from a few of his performances. This indicates that there is substantial earning potential on TikTok for those who understand how to navigate it effectively.