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How to make money on TikTok in 2020? (Up to $30k and more)

Can you make money on TikTok

Tiktok is definitely trending and a lot of people have found success overnight. 

BUT there are many who haven’t! 

Whatever the case may be – people are flocking on TikTok and the craze isn’t over yet!

The question remains –

  • Can you make money on TikTok
  • If you can, how to make money on Tiktok?
  • And if you cannot, what is all the buzz about?

Stay with me till the end because there is so much to know and learn in this post – it will blow your mind. 

But first – tell me if you have a tiktok account. Comment below with what your tiktok account is all about and a link to your profie.

So, i am going to get straight to the point. can you make money on TikTok?

Yes and No. 

I know this is not the answer you were looking for, but isnt that true for most money-making tools including youtube?

There is only one in-app way to make money on TikTok. 

Actually, there are two but we will talk about only one here (the one which does not require you to spend any money). 

The second one is basically the tiktok ads platform but using that, you will need to spend money (before you can see any money). So I will keep this one for later. 

But, don’t be saddened.

Because there are many other ways to make money with TikTok. 

We will go over 3 most popular ways to make money on tiktok in this video. 

Are you ready?

*** This post has affiliate links.

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1. Earn money through donations or virtual gifts on TikTok

On the tiktok app, if you click on the three dots on top right corner of the android app and select balance, you can see I have 0 coins. 

But, I can recharge this for 100, 500 coins at a certain cost. So, what do i do with these coins?

When a creator goes live and I love their content (or its helping me out), I can send them these coins as virtual gifts.

What does the creator do with these coins? They convert them into diamonds 

which then can be converted into paypal cash.

Diamonds are worth 50% the value of coins: one-hundred coins equal 50 diamonds.

Each diamond is worth 5 cents. 

If you have 100 diamonds, you can cash in for $5

You can withdraw your money only once you’ve reached $100 and Tiktok does keep a percentage of your earnings

So as a tiktok creator, your job would be create useful and entertaining content so your followers are motivated to spend coins on you 

However, this a a capability available only to those with 1,000 followers

2. Make Money on TikTok with Influence Marketing 

This is not a new concept and it has been popular on instagram already 

There are two ways you can make money off this. 

  • The first one is by becoming a middle man.

    You can think about Becoming the broker or the middle man who helps connect brands to the relevant influencer.

    You can be either work with the brands or with an influencer – so your customer base is going to be pretty huge.

    You can help with coordinating services, finalising agreements, managing campaigns, getting brands and influencers together and get paid for it.
  • The second one is to Become the influencer.

    You will need to Select a niche which does well and also have products in it.

    Then, focus on growing your following. 

For example, you can pick up make up or fitness.

Both these niches are popular and there are so many products you can sell to the audience.

Once you have a decent sized following, you can reach out to brands for sponsorship. 

TikTok influencers are perhaps the people who receive the most monetary benefit on the platform. 

They have a large following, which attracts partnerships with brands very easily

3. Earn money on Tiktok by Growing accounts and selling them – 

People have been selling social media profiles since the beginning of this industry. 

Growing and selling tiktok account is a pretty common thing for accounts that are created exclusively to promote ecommerce products. 

People create accounts in a particular niche and get a decent sized following by creating entertaining content. 

Remember, tiktok requires you to be creative. If you are informational and boring, noone is going to follow you. 

Once you establish the account, you can reach out to relevant brands in the niche and sell them the entire account. 

Brands are interested in it because they get a targetted audience to sell their products to – which in turn – helps them increasep profits almost immediately. 

I recently joined tiktok and I am already seeing people making use of live streaming, live auctions and links in the bio to direct people to buy products they are promoting

Sellng a tiktok account isnt as difficult as it sounds to be. 

The best way to safely sell your TikTok account is to use a marketplace or escrow service. 

These services are sort of like a middle man who takes the TikTok account and the money and allows you and the buyer to trust each other. 

When both sides have given what they are supposed to, you the account and buyer the money, the middle man can safely distribute the items/money.

One such platform is FAMESWAP

How much money can you make with this?

  • 1-10k followers = ~ $100
  • 10-50k followers = ~ $100-$500
  • 50-100k = ~ $500-$1000
  • 100-500k = ~ $1k-5k
  • 500k-1M+ = ~ $1k-30k

So guys, there are the most popular ways to make money on tiktok. 

If you want to know about more ways to make money from home, check out these posts

Resources that can help you with land work from home jobs  

How to find and pitch clients your freelance services– You can find my strategies to find high-paying freelance writing clients.

Become a work at home mom– A FREE training session that comes along with a workbook and guides you through the entire freelancing journey.

FlexJobs You can find 100% legitimate work from home jobs and freelancing gigs on this platform


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