How payments happen on Waveful is one of the most frequently asked questions that our users ask us through our support channels. The possibility of receiving real money based on the interactions of your content is often the subject of curiosity, but also of perplexity and doubt on the part of our users. If you still didn't know, Waveful strongly believes in Creators on its platform, and for this reason it offers them the possibility of being paid based on the interactions on their posts.
Today we want to definitively answer all those questions we have been asked about how payments take place on Waveful.
How did the idea of paying users on Waveful come about?
The idea of paying users on Waveful for the interactions of their content comes from the desire to make the world of Social Networks more democratic.
Yes, in the most common Social Networks we can distinguish two types of users: the "Creators",or those who try to reach a certain number of followers in order to start earning through Social; and “enthusiasts”, those who enjoy postingSocial content to communicate what they do to their followers. It is calculated, however, that there is a clear gap between Creators and enthusiasts: Creators make up 1% and are those who really manage to earn a living by publishing content on Social Networks (very often, however, relying on laborious external collaborations); while fans make up 99%and have no chance of earning with their content.
Waveful's goal is to bridge the gap between Creators and Enthusiasts, offering the possibility to all its users to earn through the interactions of their content.
The goal is to create a thriving circular economy for the benefit of all.
What the payment algorithm is based on
What the payment algorithm on Waveful is based on is another of the questions that we often find ourselves answering on our support channels.
It should be specified that the possibility of receiving the earnings accrued on Waveful takes place from the moment a user has become a Creator on the platform, for all the information about the Waveful Creator function, we recommend reading this article.
The algorithm of monthly payments is done in this way: at the end of the month you look at all the earnings of the app. They are divided in half. 50% pay for the servers and the expenses of the social. The remaining 50% is divided among all creators based on views, interactions, etc.
By making this percentage division there is a constant correspondence between views/interactions and earnings. The algorithm pays mainly on the basis of views/watch time/likes and in general on the interactions generated in its posts.
We would like to point out that the payment algorithm will carry out the calculations only and exclusively through the posts that you yourself upload to your profile. If you own an Island and are wondering if other users' posts uploaded to your Island affect your monthly earnings, the answer is no. If you still do not know what an Island is on Waveful and how to create one, we recommend that you read this article.
Payments on Waveful: everything you need to know
If you've come this far and are wondering how payments happen on Waveful and how to get them, we want to provide you with all the information that will be right for you.
We want to show you step by step how to receive payments and how to consult them week by week. As mentioned above, you can only start withdrawing earnings once you have become a Creator on Waveful; before becoming one, however, you can immediately start earning, but you will not be able to withdraw the money accrued, which will always remain in your Waveful balance and you can receive them once you have become a Creator on the platform.
To start earning on Waveful all you have to do is publish content, interactions on your content will be your source of income; views and superlikes received will be essential to get boosts on your income.
If you are wondering how we transfer earnings directly to users, the system used, at the moment, is IBAN; you just need to have a IBAN and link it directly to your Waveful account. You can receive monthly payments in the first two weeks of the month, but you must have reached a minimum threshold of € 5. If you don't have a IBAN, and you don't have the option to do so, don't worry; the money you earn on Waveful will remain on your Waveful balance and will only be credited to you when you have linked a payment method to your account.
If you are not yet a user on Waveful, or you do not know where to view the section dedicated to payments, below we show you the steps to take:
- Open your user profile;
- At the top right, select the settings wheel;
- Select the "Payments" item if you are already a creator on Waveful, or select the "Creator" item if you have not yet become a Creator.
If you still have any doubts about it, we recommend that you contact us via our support channels.
Hello, my name is Gianluca and I welcome you to the Waveful's Blog!
