How to do value4value and earn Bitcoin from your podcast
· Updated September 6, 2021 · By James Cridland · 4.8 minutes to read
There are new, emerging podcast apps out there that can be configured, by a listener, to send you Bitcoin as they listen.
Listeners can either send you a small amount of cryptocurrency as they listen, or can send you “boosts” - a larger tip. Some podcast apps also let you send “boostagrams”, a message along with a tip.
This is very early days, and it isn’t anywhere near as simple as you’d expect it to be: so we’ve written this guide to help you earn cryptocurrency from any podcast.
Enabling your podcast
Before we begin
This guide is going to assume that you are hosting with a podcast host (and not hosting yourself), so you’re unable to edit the raw RSS feed.
You’ll be paid in a thing called satoshis, normally shortened to “sats”. One sat is a 100 millionth of a Bitcoin.
One Bitcoin is worth, at the time of writing this guide, about US $43,500. So a Satoshi is, by itself, very small indeed.
You can transfer Bitcoins to your own local currency whenever you want (if you want): your local currency is called fiat money, in case you see that word somewhere.
1. Make sure your podcast is in the Podcast Index
Search for your podcast at the Podcast Index to see - use the search at the top of the homepage.
Not there? Search for your podcast here in Podnews, and look at your podcast’s page. We’ll automatically add your show into the Podcast Index if you’re not there. Wait fifteen minutes, and look again in the Podcast Index.
2. Register with PodcasterWallet.
Click the ⚡ lightning bolt in your podcast’s page in the Podcast Index. This will take you to the Podcaster Wallet.
Enter the exact email address that’s in your RSS feed.
The Podcaster Wallet lets you tell the Podcast Index where to pay your cryptocurrency. It lets podcast apps see your payment details.
Use Anchor? They don’t put your email address in your RSS feed by default. Here’s how to fix that.
3. Enter a custom node for your podcast in PodcasterWallet.
A 'node’ is the crypto equivalent of your bank account details. You can run your own node, if you’ve got good internet and want to spend some money on hardware. But there’s no need to.
We’re going to use one on a service called Satoshis.Stream, which starts
03c457fafbc8b… - you’ll find it on the Satoshis.Stream website.
Satoshis.Stream will take a fee of 3%, and give 1% to the Podcast Index: a total of 4% of fees. That’s all fine.
4. Download Telegram Messenger
To control Satoshis.Stream, you will use a chat program called Telegram to work. It’s a fully-featured and private messager which some of your friends are already using. It’s free, for whatever system you use: download it from their website.
5. Start to register your podcast with Satoshis.Stream
You do this in Telegram. Start a conversation with @satoshisstreambot, and type…
6. Add a code in one of your recent shownotes
Satoshis.Stream needs to know you control your RSS feed. It’ll give you a short claim code to put into a recent podcast’s shownotes. Put it in, wait a little bit, and try the
/claim command again.
They also have a support group, again on Telegram, to help you if you’ve any queries.
7. You’re done!
Listeners enjoying your show on value-for-value enabled podcast apps will now have the ability to give you cryptocurrency every time they listen; to 'boost’ (tip) you extra cryptocurrency, or to send you a 'boostagram’ - a message with a tip.
The Satoshis.Stream bot will tell you, every day, how many sats you’ve earnt. (Don’t panic, you can turn that off if you want to).
You can also use the bot to get 'boostagrams’ - messages listeners send with their boosts. This isn’t turned on by default: you want to use the command
8. Got multiple podcasts?
Set them all the same way. Satoshi.Streams deals well with multiple shows, and will help you through that process.
Listening to a podcast
There are a few podcast apps that support value4value listening.
If you’re looking for a normal podcast app to use, we’d recommend Fountain, which is available for iOS or Android. It’s a simple and pretty-looking app that takes you through the process of sending sats to the podcasts you listen to.
At the time of writing, you can also choose from Breez, Podfriend, Curiocaster and the Podstation extension.
Getting hold of your money
You’re being paid crypto on something called the Lightning Network. This is a super-quick crypto network built on top of Bitcoin.
You shouldn’t use Satoshis.Stream as a long-term place to store your crypto. Instead, you should withdraw it to a wallet that you own.
Download The Wallet of Satoshi or Muun let you receive Lightning payments, and also send them to a full Bitcoin account.
The way you get paid on The Lightning Network is to make an 'invoice’, which is just what you’d expect it is - a document that asks for money and gives payment instructions.
Go to the Satoshis.Streams bot on Telegram, type
/withdraw, and it’ll tell you how many sat you have.
In The Wallet of Satoshi or Muun, hit the 'receive’ button, add the amount you’d like to request in sat, and then tap the QR code to copy the long random bit of text it gives you. That’s the invoice.
Paste that long random bit of text into the Satoshis.Streams bot. You should notice your cryptocurrency goes instantly from Satoshis.Streams to your own wallet.
Satoshis.Streams also has an
/autowithdraw command, which can be set up to automatically withdraw your crypto every six hours.
Turn it into dollars
Bitcoin services like Uphold or Coinbase let you buy and sell Bitcoin with fiat (dollars, euros or pounds).
If you copy a Bitcoin address from a Bitcoin service like Uphold into The Wallet of Satoshi or into Muun, you can then transfer your sats over to Bitcoin, over to there (and from there, change into your local currency) - but be aware that it costs 26,000 sat (currently US$20) to do that transfer. Yikes.
Alternatively, you can send your sats to your podcast app and pay other podcasters.