Unix Epoch: 1566427128
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I noticed that Brave Rewards now has a Tip Me Option on Twitter. A friend of mine asked why someone might want to use Brave Rewards Tips vs. Patreon. I indicated that the Patreon transaction fees would be quite high by comparison with Brave Rewards.
Here's a basic Lite Patreon and Paypal vs. Brave comparison example:
Fees derived from Patreon documentation here and here and Paypal fees listed here. Brave Rewards fees are 5% incoming and $0.00 outgoing per documentation and my own experimentation.
Patreon Fees for new accounts after May 7th 2019:
- Platform Fees: Lite: 5%
- Incoming Paypal Fee: 2.9% + $0.30
- Outgoing Paypal Fee: 1% or $0.25 minimum
Brave Rewards Fees:
- Incoming 5%
Example Situation: A Patreon account holder is sent $5.00 from a content consumer through Paypal.
Incoming Fee:
- Incoming Fee is 2.9% + $0.30 = $0.445
- Platform Fee to Patreon is %5 of incoming (5.00 - 0.445)*0.05 = $0.22775
Total Incoming Fee = $0.67275
Outgoing Fee to Paypal = $0.25
Total Transaction Fees = $0.92275
It's useful to note here that Patreon suggests a minimum donation level of more than $1.00 ... Well, it's easy to see why.
Total Transaction Loss through Paypal+Patreon: 18.455% loss of donation in Fees.
vs.
5% for Brave
So there you have it. Brave and BAT payments allow content producers to keep more of their earnings. A lot more!
I've double checked my math, but please feel free to check it again and comment if I'm incorrect.