Your Reddit Gold and Karma Can Now Be Exchanged for Real Money

Reddit, the favored social networking platform, is beginning a brand new contributor program, which can let customers convert their Reddit gold and karma into actual cash. Reddit made the announcement in a weblog publish, alongside bringing a brand new simplified method to award content material on its platform with Reddit gold. Eligible Redditors will obtain precise cash for his or her contributions on a month-to-month foundation. Reddit gold is awarded by different Redditors to customers for his or her content material on the platform, whereas karma — the quantity subsequent to a username on Reddit — is amassed over time by posting and commenting.

Reddit introduced the contributor program on Monday, promising actual (fiat) cash to qualifying redditors and mods for his or her contributions to the platform. A qualifying Redditor have to be 18 years or older, reside in a supported location, and should have a Reddit account. “Once enrolled in the program, redditors will receive payments on a monthly basis. The earnings a redditor receives are calculated based on the amount of karma earned and gold received on their eligible contributions,” Reddit’s blog post mentioned.

The contributor program is now rolling out within the US throughout Web, iOS and Android Reddit apps. Users can head to this system through their profile menu, the place eligible customers can faucet the ‘Get Verified to Start Earning’ button to enrol in this system. Reddit has not revealed particulars in regards to the payout for customers.

The firm has additionally introduced a simplified method to give away Reddit gold to customers. With the brand new gold system, customers can lengthy press the upvote icon on cell (or hover over it on desktop) immediately inside the publish or remark they need to reward and choose from a pop-up of six gold awarding choices, starting from $1.99 (roughly Rs. 165) for one gold to $49.00 (roughly Rs. 4,077) for 25 gold. This will lead to a golden upvote rather than an everyday one. This characteristic is barely obtainable in choose communities on Reddit’s native cell apps and can attain different communities within the coming weeks. The new gold system might be obtainable on Web later this 12 months.

Reddit’s new gold system
Photo Credit: Reddit

Reddit is making efforts to reward its contributors months after hundreds of standard subreddits went darkish in protest in opposition to the corporate’s plan to cost for entry to its information. Reddit now fees third-party app builders for entry to its for its utility programming interface (API). As a consequence, many standard third-party apps for the platform, together with Apollo, have needed to shut down. Apollo had mentioned, with their present utilization, the fees would price them greater than $20 million (roughly Rs. 160 crore) a 12 months.