So, yesterday I wrote about Patreon, but today I want to introduce you to its cousin (of sorts,) Ko-fi (pronounced "co-fi or coffee.) While Patreon trades on the stock exchange and has shares that support the running of its business, Ko-fi is a business that supports itself by asking creators for money to help support the platform that allows them to take in donations. And while Patreon charges for currency conversions,--money from patrons flowing through the platform before going to creators, Ko-fi is a platform for creatives to accept donations directly to their PayPal or Stripe accounts. Both are subject to local laws; both allow for creators from all over the world to accept donations, but where Patreon pays creators based off of donations sent to Patreon's platform (and thus how they make money by taking a small bit of each contribution given to creators,) Ko-fi merely presents a place for people to connect to creator's money accounts, but those accounts are run by fairly reputable businesses, like Paypal and Stripe.
There is another difference between Patreon and Ko-fi as well; Ko-fi has a completely free version of their platform, only asking creator's to opt into their Gold program for more options on their Ko-fi accounts.
Sadly, both sites require you to do your own tax prep--which I'm thinking about lately since it's nearing the end of March and taxes here in America are due April 15th. One of the nice things that Patreon eliminates is having to consider whether or not you're doing business with credible people since your payouts come from Patreon the company rather than individual donors. And while Paypal and Stripe won't allow business from unlawful sources, that doesn't mean you always know who you're doing business with. You, as the creator, have to consider that rather than having someone else to do it for you.
Both platforms allow for creatives to share and accept donations for their work, however, and with Patreon being traded on the stock market, they will be likely to survive economic downturns more easily. What I like about Ko-fi, though, is that it doesn't require you to have a model for showcasing your work. You can use other platforms to house your creations and link to them from your Ko-fi page. Or you can just set up a page to accept donations that is nothing but a repository for exactly that and nothing more--letting your work speak for itself elsewhere (where you can place a tasteful Ko-fi button or create a link to your page where people can then leave you money for the work you've done.)
Ko-fi came into being in 2013, just a year after Patreon, though it wasn't much at the time. Over the years, the service has grown and now has Creator Pages, monthly tier-based contributions, and other amenities. At its inception, though, it just linked people to creator's Paypal accounts where they could offer them money.
It started because a developer found another developer's work that helped them turn an hours-long project into a 20-minute session. But I'll let Nigel, the owner of Ko-fi, share his own story:
Back in 2012 I was living in Bangkok, working as a freelance developer. Sometimes it was impossible to tell how long a project would take or what technical hurdles might come up. Clients usually demand a fixed price, so you estimate how long a project will take and then just work the rest out as you go.
One project had become a real nightmare. I had underestimated the project and was starting to feel the pressure. The deadline was approaching fast, yet I was stuck on some obscure issue.
Desperate for a solution, I scoured the web and stumbled upon a Stack Overflow post. Someone else had had the same problem and posted the full solution. This turned days of work into 20 minutes. The developer that posted the solution was my new personal hero. Because of his willingness to share, I’d managed to complete the ‘project from hell’ and move on.
Yet something didn’t feel right. How could I show this person my appreciation? The only option on Stack Overflow was an ‘upvote’. It wasn’t enough. It wasn’t human.
In the real world a show of appreciation might buying a coffee for a co-worker as a token of appreciation. These gestures are more meaningful. Why couldn’t I buy this guy a coffee online for helping me out?
There should be a way to send a thank you and a few dollars to someone for doing a good turn. More than a ‘like’, ‘retweet’ or ‘upvote’, but less formal than a ‘‘fee’. This idea stuck with me and a good friend Javan challenged me to hack together something over the following weekend.
And thus began the story of Ko-fi.
What I like most about Ko-fi is that it doesn't take anything from the creator, and it doesn't take a whole lot to get started. You can sign up for free, and if you find that you're making enough money to justify it, you can level up to their Gold premium version. It's this sense of freedom that makes this platform seem more accessible to me, even if it isn't as well-known. I even have an account there, though I have yet to set it up--especially since I don't know that what I'm doing here offers any real value to others. One day, though, I might work myself up to getting a project together, and when I do, you'll definitely hear about it.
One of the drawbacks to Ko-fi is having to operate through PayPal or Stripe, though I already do a lot of business through my PayPal account and haven't seen much of a problem with it. Stripe I know a lot less about; so, I'd have to do some research there.
All in all, though, I am just as excited about Ko-fi as I am about Patreon as it offers creators and artists platforms to express themselves and share their work with others while offering those of us who appreciate and enjoy that work a means whereby we can offer them our gratitude with money.
I especially love the fact that our digital world has allowed artists from all over the world to gain acclaim or create a fanbase that 30 years ago wouldn't have even been possible. And it is platforms like Ko-fi that make those things possible, which is why I am happy to share it with you today as a cause worth celebrating.
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