Let’s get it straight – millions of people talk about money on Reddit (say r/personalfinance), but you’ll rarely find anyone who said I made a thousand dollars on Reddit.
If you’re a regular Reddit user, you might not find it surprising that this social media network that sees 52 million daily active users doesn’t let content creators make money out of it yet.
But if you’re new to this social media platform, here’s a brief introduction of Reddit for you.
What Is Reddit?
Reddit is a community-powered social content aggregation website that focuses on real communication and authentic human connection. The platform has a community for almost everything that people would talk about: news, sports, fan theories, cute animals, car accidents, space, etc.
The communities are called subreddits. Users populate these subreddits with their posts that other users can comment on, vote, and even reward using in-app currencies.
The platform has over 52 million daily active users, 100k+ communities, and witnesses over 50 billion monthly views.
As a Reddit user, you can become a part of a community, add more value to existing posts by commenting, upvoting, and downvoting, or start your conversation using text, images, and videos. You can even start a live channel of your own if you have content to show to the members of a community.
How To Make Money On Reddit?
Unlike Facebook, Instagram, or TikTok, the user experience on Reddit doesn’t revolve around any users’ personal brand. It revolves around communities.
You post something that has a conversational value and it will start a discussion. The platform gives you a stage where the spotlight isn’t on you but on the value you have to offer to a discussion.
Reddit is the truest of social media networks where the network is what matters.
Now, the question comes –
Can you make money from Reddit?
Well, unlike Instagram, there’s nothing called a Reddit Influencer yet. So you can’t create a career dependent on Reddit.
But this doesn’t mean you can’t earn a few bucks on Reddit.
In fact, if you’re a student or someone who’s looking for some passive income without building tens of thousands of followers, Reddit could be the money-earning platform for you.
Moreover, Reddit could be a gold mine if you already have a business and an existing revenue source. You can double or triple your earning using this platform.
Get Paid For Doing Tasks
While you can’t depend on Reddit to make a living, you can use the platform to earn some side money. There are subreddits (communities) where users share some decent money-earning opportunities where all you have to do is complete some simple tasks.
BeerMoney is more than what it sounds like. The community posts small tasks, fulfilling which you can make money more than enough to buy you a beer. As of writing the article, the community has over 855k members who post giveaways and money-paying tasks like gaming tasks, surveys, reviews, signups, social follows, etc.
The best part?
Some people earn over $500 per month doing such trivial tasks.
You can even take the advice and help of the community regarding a certain task, and the community never says no.
A community where you sign up for something in return for money. Sometimes, you get the money directly in your bank account, and sometimes you’ll have to do certain tasks to own it. Nevertheless, the community stands up to its name.
It’s a fairly new community as compared to BeerMoney. But it surely has many offers posted every day that you can tap for some easy money.
To keep its reputation, the community even flags fake offers and list scammers to prevent you from wasting your time.
Get Paid For Your Skills
While you can easily earn hundreds of dollars doing trivial tasks, Reddit can be a goldmine for you if you are skilled at doing something and are looking for work opportunities. You can be a programmer, a legal practitioner, a designer, or a writer; Reddit communities have opportunities for you.
Slave Labour community could be a paradise for you if –
- You’re just starting out, or
- You belong to a country with cheap currency.
It’s a community where users look to get jobs done at less than market rates. So, if you’re just starting out, it could be a great place to build a portfolio. And if you belong to a country with cheap currency, you might actually hit the jackpot in this community.
The community isn’t limited to a particular industry. You can easily find and bid for a job in your niche. Usually, the jobs posted in this group are regular project-based simple jobs that you can do to make easy money.
If you are a skilled professional looking for a job, this Reddit community with over 235k members could be the place for you. For hire is a niche agnostic community where you can list your skills and get a job. You can even apply for jobs posted by other members of the community.
It’s a great community to join if you plan to make money on Reddit by finding a job.
Programming Tasks subreddit is a new subreddit similar to Slave Labour but dedicated to the programming niche. Join this if you’re a programmer who’s looking for small tasks to add to your portfolio or make extra money.
A subreddit for designers to make money on Reddit. With around 70k members, you can promote your skills in a ‘For Hire’ post or apply for a design job that’s suited for you.
Consider this subreddit as Slave Labour for designers.
Hire A Writer is a subreddit dedicated to helping copywriters, content writers, scriptwriters, and other content-development-related skilled individuals find a job or task to make money on Reddit.
From ghostwriting to proofreading, you can find numerous jobs posted every day on this subreddit.
Jobs4Bitcoins is a subreddit similar to r/ForHire but where you get paid using cryptocurrency. So, if you’re looking to make money on Reddit but don’t want the government or the world know about the transaction, use this subreddit.
Follow The Stock Market Bets
If you already have some money to invest and are looking to reap more than normal revenue (by taking more than normal risks), you can use Reddit communities to help you earn profits in the stock market as well as in the crypto world.
Wall Street Bets is a community where participants discuss stock and options trading. The community even put bets on selected stocks to increase the price and earn profits.
Wall Street Bets subreddit uses its huge userbase of over 10 million even to manipulate the market demand and help its community members earn good revenue. Be a part of it if you have some savings and want to test it out on community-powered stock market bets.
Satoshi Street Bets is a subreddit similar to Wall Street Bets but for crypto markets. You’ll see what the community is investing in, what’s the state of the crypto market, and what you can expect in community-powered crypto discussions.
Join this subreddit if you’re into blockchain and cryptocurrencies and want to try out your luck in community-supported investments.
If you’re a content creator, you can go live on Reddit’s Public Access Network, show your content to the communities and ask for donations through Venmo or other payment networks.
You can be a pianist, magician, beatboxer, gamer, programmer, or nature enthusiast, etc.; if there’s something you can stream that the community would like to watch, there are chances that some people from the community might donate to you as well.
Though this practice doesn’t always guarantee money, this is one of the ways you can try out if you want to make money from Reddit.
Build Your Own Community
If you already have a website, app, business, or a venture where you can benefit from developing a community, forum, or just a discussion area, go for a subreddit for your venture.
Building a community that trusts you gives you the power to drive the community to the bottom of your funnel without friction. Once you have your subreddit, you can direct the traffic to your affiliate website (you can’t include affiliate links on Reddit directly), sell your own physical and digital products, including courses, ebooks, etc., and can even make them purchase your service if they ask for more.
The opportunities are endless. All you need is a sound knowledge of how to develop, nurture, and grow your Reddit community.
Go On, Tell Us What You Think!
Did we miss something? Come on! Tell us what you think of this article on how to make money on Reddit in the comments section.
A startup consultant, digital marketer, traveller, and philomath. Aashish has worked with over 20 startups and successfully helped them ideate, raise money, and succeed. When not working, he can be found hiking, camping, and stargazing.