Medium: Simplest Way to Make Over $100 Every Month
Back in October 2023, I was trying my best to find an easy way to build a side income. So I came up with a list of options. The options were creating digital art, creating videos and photography, or writing. I loved creating content so I started looking into the options. Finally, I nailed it down to writing.
Below is how I ended up becoming a paid writer on Medium.
I delved into all major platforms like YouTube for videos, Etsy for digital art, and Instagram for photography. I realized that the basic requirement to even get monetized meant grinding every day. The saturation of these markets did not help either. The major platforms were great, but the barrier to entry was too high. This is when I got to know about a relatively lesser-known platform called Medium.
What Is Medium?
Medium is an American online publishing platform developed by Evan Williams and launched in August 2012. It usually provides top-ranked answers to user queries on Google. Medium has very high authority, which essentially means in the world of blogging it is one of the top performers. This is a subscription-based platform with most of its content behind a subscription-based paywall. You get paid when your story is read by a subscribed member.
How Do You Earn Money On Medium
The system behind payments on Medium is quite straightforward. They have a program in place called the Medium Partner Program. Under this program, you need to get a subscription of $5 per month or $60 per year. Once subscribed you can read all the content on Medium, and also any content you write becomes eligible for payments.
The payment is decided based on the time a reader spends on your story. The below factors impact your earnings
- The reader needs to be a subscribed member
- The reader should read for at least 30 seconds for it to be considered a read.
- If they respond, clap, or highlight content on your blog you get additional earnings.
- If they follow within 24 hours of reading your content for the first time, then too you get additional earnings.
So essentially all you need to do is create good content so you have readers drop in, and stay. It is very easy to recover your subscription cost within a couple of days if you do this correctly.
How Much Have I Earned on Medium
I joined this platform on 15 October as a total novice with no idea what I was doing. Below are my earnings so far in USD.
As you can see my earnings have been increasing month on month. I soon hope to earn up to $200 per month, just doing what I love doing. All you need to get money is to have a Stripe account to receive payments. Below are the eligible countries in this program, with more to be added.
Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Gibraltar, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, the United Arab Emirates, the United Kingdom, and the United States.
Once you are set up on Medium, all you need to do is write good content.
What Next?
Earning money on Medium is very simple, and depending on your skills it could be easy too. Just make sure you write good content and engage with other writers regularly.
You can check out my medium profile by clicking here
To help you on your journey of earning on Medium, below is a free guide. Just click on the image below to get access to ways I built this side income.
Good article, thanks.
Jijo, can you also write about if there are any tax implications of this and how are you managing it?
Adithya, good question. The income so generated just gets added to your yearly income and taxed accordingly. It is always preferred to get an ABN as a sole trader to start any side-income business in Australia. How to get one?
Follow this link.
https://youtu.be/mU8Q9oE-ZsQ it is quite straightforward.