TikTok has gained a massive user base in a very short period, mainly because the app is unique and offers people the chance to become stars on its social media platform. While initially, there was no possibility to make money off the application other than via sponsorship, TikTok introduced a ‘Coins’ mechanism to support creators on the platform.
Considering the success of TikTok, it is not surprising Facebook has gotten busy trying to replicate the same on its platform – the social media giant has already launched Reels on Instagram, but it is also testing ‘Short Videos’ on Facebook in various regions of the world.
What is ‘TikTok Coins’?
The ‘Coins’ system was introduced on TikTok as a form of virtual currency and is linked to a user’s TikTok account. Users can pay creators with these coins to express their support and appreciation.
The coins can be converted to real money by withdrawing them from the platform, but you should know that TikTok has a few restrictions when it comes to these withdrawals; we will cover them below.
TikTok coins cannot be withdrawn straight to your bank account, but only to PayPal. So, if you need to withdraw your coins from the app, the only way to do so is by linking your PayPal account to TikTok.
How to Link PayPal to TikTok
If you don’t have a PayPal account, make sure you create one before proceeding with the steps below. Linking your PayPal account to TikTok is an easy process but you have to make sure that the two accounts have the same first and last name – if not, payments may be rejected.
Here’s how to link your PayPal account to TikTok:
- Launch the PayPal app on your device and log in
- Open the Settings menu in the top right corner, and your PayPal link will be visible under your profile picture – copy this link to your device’s clipboard
- Launch the TikTok app on your phone and head to your profile by tapping on the ‘Me’ tab in the bottom right corner
- Tap the three dots in the top right corner and go to ‘Balance’
- You can view the amount of coins you currently have in your TikTok account – tap on ‘Live Gifts’ below that, and on the next page, select the ‘Withdraw’ button at the bottom
- Choose the amount you would like to withdraw
- On the next page, select the ‘PayPal’ option under ‘Withdrawal Account’ and add the email address associated with your PayPal account
- When asked for ‘PayPal ID,’ paste the link you copied in your clipboad from your PayPal account
What is the Transfer Limit for TikTok Coins?
TikTok will only allow you to withdraw if you have at least $100 in your account. In addition, the app has a limit on how much you can withdraw from your account per day, with it set at $1,000.
The platform doesn’t charge users a fee when withdrawing from their accounts, but PayPal does, depending on where in the world you are. To learn more about PayPal’s fee system, it is best to check out their website.
How Long do Transfers Take?
According to TikTok regulation, the transfers take a minimum of 15 days to show up in your PayPal account. This is because each transfer request is examined by a TikTok team that handles these processes before it is approved.
The maximum number of days it should take for the money to get to your PayPal account is 21. However, it should only take this much in case your funds are put on hold to clear out any issues with the transfer.
Why Can’t I Transfer Funds to my PayPal Account?
Again, before you connect your PayPal account to TikTok, make sure your first and last name corresponds to the name on TikTok. If it doesn’t, change your name on TikTok to match the one on your PayPal account so the withdrawal process gets approved.
In addition, ensure that your PayPal account is verified. If you just created an account on the platform and did not verify your identity, make sure you do so before linking your account to the TikTok app.
Paula is an outstanding reporter for Henri Le Chat Noir, always finding new and interesting topics to bring to the portal. She mostly crafts Science and Technology news articles, covering everything one needs to know about those niches. Paula studied at Concordia University.