Buy me a cup of coffee - did you add it on your blog?
Hi everyone,
I am always looking for new ways to monetize my blog. I have come across Buy me a coffee platform.
Buy me coffee
Buy me coffee is a platform, where your supporters can make one-time donations or monthly contributions - whatever they decide.I have several questions:
- Does any of you have it on your blog?
- Can it be a good source of additional income?
- is income from this platform taxable - since these are donations from random people?
Help me decide
I am currently reading and listening to different reviews on this tool.
If you can help me decide with your personal experience, I will be very grateful if you can share it with me.
Or if you can point me to one of our members who are already testing it, that would be awesome too.
Thank you very much for your support and have an amazing day,
Vesna
Recent Comments
7
I will just state my own experiences as a visitor of sites with the buy me a coffee donations - I don't usually contribute. Having said that, it doesn't mean it won't work. I don't even have a particular reason why I don't contribute, though.
You should ask others here (or maybe they'll chime in) what their visitor experiences are and get a survey (of sorts). I don't think they are a scam, though.
I have contributed (when it makes sense to do so) to sites with Patreon access. I don't know if one is better than the other (coffee vs Patreon) nor do I know the stats and the success rates of either.
I can't advise you on taxes but if I had to take a guess I would say that it's taxable income. Otherwise, every website owner would monetize in this manner to avoid paying taxes. If your website was a nonprofit, then maybe. But even nonprofits likely have restrictions on how they can ask for money.
My suggestion is to run this one by a professional, like an accountant.
It doesn't sound like you have anything to lose by trying it out, though. It's easy to measure the conversion rate on it, too.
I will check out patron too, thanks for suggestion :)
I think it will be quite a challenge to find an accountant that knows about this. I will try it, thanks :)
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I have never heard of it, but I will check it out, also.
thanks :) Please, share some feedback ;)
It looked to be about the same concept as Patreon. Seems to be another way to connect with your audience, not a bad idea!