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Debunking Fiverr Myths
The development of Fiverr, a marketplace website where jobs can be done and offered at a set cost of 5$ has being greeted with mixed reactions from the general public with some calling it a "scam" and others completely discarding it without giving it a try.
Fiverr, is not a scam! Here I will debunk the top myths surrounding this site and help clarify the reason why you, yes you! Should be onto it!
Myth No. 1: How much do I receive money per gig?
There's being a large amount of confusion on how much one really receives at the end of a gig. This is as a result of Fiverr mainly advertising the gross and never the web of what's received.
On Fiverr each gig costs you 5$, however the contractor doesn't not pockets all of the 5$. The 5$ is actually a gross value and the net value/gig being in the region of 3$.
So where does the rest of the 2$/gig visit? To begin with, for every 5$ you receive Mr Fiverr, gets a clean 1$ cut. So let us say, you have got 10gigs ordered and marked as complete. Your gross income in total is 50$ but your net gain is 40$.
fiverr scam
Next after Mr Fiverr's 1$ has being subtracted, you get charged for each money you withdraw. Yes! You receive charged for withdrawing your own money! But fortunately there is a method to reduce the impact of the fee and its allowing your money handy accumulate before you withdraw, by doing this you get charged once instead for every withdrawal.
Myth No. 2: Must my funds reach a certain amount before I can withdraw it?
No! In the beginning during the first few months of Fiverr's existence you'd to reach 40$ before you decide to could withdraw your funds but this is no longer the case.
Now you can withdraw your funds after they have being cleared which takes 15 days, after the buyer has marked an order as complete.
The is really a downside to this as well as an upside. The down-side being you receive charged by PayPal for every withdrawal let us say you withdraw your 4$ every time you have it available in your funds; you will be charged around 1$ by PayPal. So at the end of the day for 10 gigs and 10 withdrawals you will be playing a net income of 30$ whereas if you cleared your funds once you had reached 50$ you will have a net income of 39$ that's after Mr. Fiverr has taken his nice cut from the cake.
fiverr scam
The great side being, some people are not fortunate to possess enough of orders in order to reach the threshold level, hence having the ability to clear your funds at anytime might be better at the end of the day while you get charged more.
Myth No. 3: When will i receive my money after delivering the goods/services?
With Fiverr, whenever you deliver your service/product your contractor has 3-5 days to measure the level as complete and provide feedback. During this period your hard earned money is in the "Upcoming Payments" category.
Following the contractor has marked the gig as complete and provided feedback your money then moves to the "awaiting clearance" category and from there you have 15days till your money can be obtained for withdrawal.
So as a whole you've 20 days maximum to get your hard earned money. So how do you make the most of this? Simple, by maximizing the number of orders you obtain. (More)
