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TikTok is one of the fastest growing social media apps. People can use the platform to share short-form videos that can earn them money. Here's how... Now, though, TikTokers can receive virtual gifts even when they aren't livestreaming and also get money straight from the viewers as Tips. TikTok will not take a cut of the Tips but those sending the money pay a small processing fee. The app avoids Apple's App Store in-app purchase fees and 30 percent commission for in-app purchases by using its own payment provider Stripe. Which creators make money on TikTok? For a lucky few TikTok creators the sky is the limit TikTok was launched in the US in 2018 and can now boast nearly 80 million users, with over a billion worldwide, making play slot machines online one of the fastest growing social media platforms. To help keep short-form video creators on its app, the company set up a Creator Fund in 2020 that distributes money based on certain conditions. Creators can also accept virtual gifts from fans during TikTok LIVE videos. But the influencers on the site make far more through sponsorships. Business Insider spoke to several TikTokers to get an idea of how much can be made. Personal finance influencer Preston Seo told them that his account makes about $9 to $38 a day on average. With his 2.1 million views he got less than $1,700 from the Creator Fund over a five-month period. To supplement their income TikTokers make brand deals and promote songs on their accounts. In the case of Seo, he earns $600 per sponsored post.

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