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According to Darma, the first way people are making money on TikTok is by growing accounts and then selling them. Basically, you start by choosing a niche that you're interested in and creating entertaining content that will ideally go viral and attract a following, which then ideally translates into customers for your product. Even if you don't have anything to sell, using this practice will help you reach out to brands in your niche's industry, and if you can sell your TikTok profile to them, there's a good chance that you can make some money that way. 2. Donations Donations are another great way to monetize your channel. Just like Twitch, you can also go live and collect donations from viewers. In terms of monetization, the format will usually go as follows: TikTok users can go into your profile and purchase something called coins. For the low price of $1.39, you usually get about a hundred coins. When a creator goes live, their followers can actually send them coins as a way of giving thanks for all of their hard work in creating the content. A creator can then take that coin and turn it into a diamond, which can then be converted into cash via PayPal. The other way you can make money on TikTok is by making use of its ad platform. Similar to Facebook and Instagram ads, you're basically running paid traffic to attract followers to your channel, which will hopefully lead them to purchase products from your business. Keep in mind that like any other advertising campaigns on TikTok, this will require money to launch, so you may want to create a large enough budget first to allow for flexibility when you're experimenting with this to find what will work for you. 5. Management services Another way to make money on TikTok is by offering management services to creators on the app. Though it may not seem like it as you view them from the other side of the camera, there are some creators on TikTok who gain millions of followers very quickly and are overwhelmed when they seemingly become business owners overnight.

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