As a trainer on our platform, understanding how to earn, manage, and cash out your coins is essential. This guide will walk you through every detail, so you can focus on delivering world-class training content.
Earning Coins
Every time a user spends coins on your content, be it live streams, VODs, recordings, or subscriptions, these coins are added to your balance. The transaction is displayed on the Balance page of your trainer's account under the 'Pending Balance' section. The amount of Coins shown in you Pending Balance amount is the amount of Coins Users have spent on your content minus the Perspire Admin Fee. More Info on what Perspire's Admin fee is and why can be Found Here.
Understanding Pending Balance
Initially, your earned coins are held in a 'Pending Balance' for 72 hours after the user has spent them on your content. This pending period allows for any necessary adjustments or user-related disputes. After the 72 hours, the coins are cleared and moved into your 'Available Balance'.
Using Your Available Balance
Once in your Available Balance, you can use these coins on Perspire.tv, for instance, to purchase other trainer's content. Alternatively, you can choose to reserve a part or all of your Available Balance for cash payout.
Reserving Coins for Payout
You can select to reserve any amount from 200 coins upwards, up to the maximum amount in your Available Balance. The amount you choose to reserve is shown in your 'Reserve Balance' and is set aside for payout.
Receiving Payouts
The Reserve Balance is automatically paid out on the 1st and 15th of each month. During payout, your reserved coins are converted into USD (at the rate of 10 coins to $1) and transferred into your connected Stripe account. A Stripe account must be connected to your Perspire channel in order to be eligible for Payouts. More Info On How To Setup and Connect a Stripe Account can be Found Here.
Adjusting Your Reserve Balance
Trainers have the flexibility to adjust their Reserve Balance up until the next payout date, either on the 1st or 15th. This allows you to manage your cash flow according to your needs.
Conclusion
Navigating coins on Perspire.tv is straightforward. By understanding how to earn, reserve, and receive payouts, you can maximize your earnings as a trainer. And remember, the more engaging and high-quality content you provide, the more coins you can earn. Keep innovating and inspiring fitness enthusiasts around the world with Perspire.tv.