If you have 1,000 followers on your TikTok account, you can start monetizing it. You can shoot and post videos, stream, and your fans can send you gifts in gratitude for engaging content. To do this, they will need to purchase coins.
TikTok coins are in-app currencies that you can buy with real money. As of today, the app offers seven coin packs. And if you purchase them for the first time, you will also get bonus coins.
You can buy a maximum of 16500 coins at a time. That costs $300, which is quite a lot. Therefore, there is no question of selling 1 million coins on TikTok.
However, if you want to know the price of 1 million coins, let’s count it.
How much are 1 million TikTok coins worth?
To calculate how much $1 million coins are worth on TikTok, we first need to understand how much 10000 coins are.
We already know that 16500 coins cost $300. I calculated, and it turns out that 10,000 coins are worth almost $182. Accordingly, 1 million coins will cost approximately $18200 on TikTok. In other words, you would have to buy about 60 of the most expensive coin packs to reach that amount.
Honestly, not everyone can afford to donate that much to a streamer. Nevertheless, perhaps you will find this helpful information to calculate how much, in theory, you can earn making videos and streaming.
How to convert TikTok coins into real money
You cannot exchange TikTok coins for real currency immediately. The only thing you can cash out is diamonds. You can check them in the Balance section. Coins are automatically converted into gift points which can later be converted into diamonds and cash.
All you have to do is link your PayPal account to your TikTok. If you don’t have an account, go to the PayPal website and create one.
After you link your PayPal account to your TikTok, go to the coin balance page to see your current amount of coins. From there, convert the coins into diamonds, which you can cash into your PayPal account.
The option to cash coins is available at any time. You can accumulate coins and cash them out after a particular time, withdrawing a minimum of $100 and a maximum of $1,000 per day.
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What to do if you can’t accept gifts on TikTok
TikTok’s Virtual Item Policy states that users under 16 cannot accept TikTok gifts. This may seem unfair to younger users, but the policy is designed to protect the younger generation of users from fraud and exploitation.
On the other hand, no user under the age of 18 (or the age of majority in their region) can accept Gift Points. However, TikTok will allow certain users to redeem and get gifts.
If you are over the minimum age, contact TikTok support for additional assistance. You should also remember that TikTok may deny you the opportunity to earn income if you violate specific community standards.