Reddit has announced the launch of a contributor program that will allow users to earn money for posting posts. “After signing up for the program, Reddit users receive monthly payments. The income a Redditor receives is calculated based on the amount of karma earned and the gold received for the corresponding post.”– reported on Reddit.
Currently only US users have access to the program. The new system is touted as a way to make money by increasing karma points, or the total number of votes posts or comments receive from the community. But as the resource noted PCMagIn fact, karma plays a minor role in determining potential payouts, and it all depends on the amount of “gold” received.
Reddit has updated the way to receive “Gold” – a reward for liking a post. Gold currency is now available for purchase by all users and is no longer free for Reddit Premium subscribers. The price of one gold coin is $1.99 and 25 coins cost $49.
The proceeds from the sale of the coins are used to reward contributor program users. If a user has received between 100 and 4999 Karma Points in the last 12 months, they can earn $0.90 per gold coin received per month from posts. If karma is 5000 or more, you can earn a higher rate of $1 per coin.
To participate in the program, users must go through a “verification process” by providing some personal information, including name, date of birth, and possibly government-issued ID (as required by Reddit). You will also need to provide a Social Security Number or Individual Taxpayer Identification Number to receive payments from Stripe, Reddit’s payment provider.
Access to the program is available to accounts with a “good reputation” that have never violated the platform’s rules. Posts made in Not Safe for Work communities or containing pornographic content are also not eligible for payment.