Hold on—now we have TikTok Coins? Yes, you’re not delusional; they are very much a thing. According to teilo, they’re “in-app currencies that are bought with real money.” You use them to “tip” your favorite content creators to show how much you love their work! The coins can be converted into gifts (emojis that represent different amounts) and then diamonds (which content creators “cash out” to real money). That’s a lot. Let’s break it down.
How do you use TikTok Coins?
It’s kind of confusing. So, once you’ve purchased your coins, they’re stored in your TikTok Wallet, which you can only access through the app. With coins, you buy gifts. Each emoji represents a different amount of coins.
Then, you send gifts to content creators. Content creators can only receive gifts during a live stream, the downside being that you need at least 1,000 followers to access the live stream feature. Then—get this—once the content creator receives a gift, it becomes a diamond. For reference, one TikTok coin has the value of two diamonds.
TikTok then gives you the option of cashing out your diamonds; apparently, all you need is a PayPal account that matches your first and last name to your TikTok account.
How much do Tiktok Coins cost?
Tiktok determines the conversion rate at the time of gifts turning into diamonds. And the cost depends on exchange rates. Like many virtual currencies, the arrangement is constantly changing. So, if you buy your coins for a certain rate on one particular day, you’re not guaranteed to get the same deal on another day. Nor are they refundable once purchased. Currently, 5,000 coins on TikTok cost $66.99 in the U.S.
Click here for a detailed breakdown of U.S. currency prices, which may differ from other countries that will likely have their own set of rates.
Would you use this feature? To follow a step-by-step guide, click here.
In this article:content creators, social media, social media influencer, TikTok
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