Looking for the best way to receive support from your followers? I have created a detailed comparison between the two best performing platforms Patreon and Buy me a coffee. Both of these platforms are the best when it comes to monetizing your creativity and creating a thriving community of like-minded people. But, which is best to start off your creative journey is the real question. With an abundance of exciting features offered by both, the answer can be elusive.

But don’t worry, in this article, we will discuss which of these money making, community building platforms can help you build a sustainable income using your creative juices and is best suitable to your needs.

Buy Me A Coffee Vs Patreon: What is BMC?

First of all, let’s understand what is BMC. It is a great platform to monetize your passion, build a like-minded community and receive tips & donations from your fans. Unlike patreon BMC is more focused on enabling supporters to say thanks and buy you a coffee easily when and if they love your work. Just a simple platform operating in coffee currency and helping you sip on success.

Buy Me A Coffee Vs Patreon: What is Patreon?

Now, let's turn our attention to Patreon. Patreon my dears is more focused on recurring memberships and is best for creators that have ongoing projects, like a new song or video release etc on a regular basis. Which is why most call-to-actions on their website landing page is “start a membership”. It is a more serious platform for creators who really want to up their game through creativity.

To help you understand both of these amazing platforms, let’s look at some pros and cons of both and decide which suits your goals best.

Buy Me A Coffee Vs Patreon: Pros & Cons

Pros

Buy Me A Coffee 

• Simple one-off donations: The best thing about BMC is that it’s simple to use and doesn’t require followers to create an account or subscribe to a membership, if they love your work they can just want to tip you for it right away without the hassle of signing up for anything. It’s like a virtual tip jar best for creators who are just starting out and any minimum support would mean loads to them.
• Easy Pricing: BMC is again simpler in terms of pricing as compared to patreon as it only has one plan which is to charge a 5% cut on whatever you earn from the platform and any processing fee depending on the payment service provider.
• Free Analytics: Another plus is that BMC gives you insights. Which is awesome because you know where you’re going by keeping track of your earnings, page views, supporter count etc.
• Add Widget To Website: Another prominent feature of BMC is its payment widget which you can add to your website or social media easily. Fans don’t need to sign up or anything, just simple and direct tips and support to your bank!

Patreon

• Now, let's turn our attention to Patreon, the platform that invites you to join an exclusive club. Patreon allows you to offer membership tiers, granting special perks to your loyal supporters. It's like building a secret society of patrons who adore your work and want to see more of it. You can also get paid monthly or per creation by fulfilling merch to different membership levels. Best to excite fans and offer exclusive rewards!
• Comprehensive analytics to track performance and strategize accordingly.

Cons

Buy Me A Coffee 

• BMC doesn’t have any discovery option available which means you have to struggle to help new users and fans find you. It will really be a game changer if BMC adds an ‘Explore’ option to their dashboard. 

Patreon

• Patreon also doesn’t have any discovery option available, this is such a turn off for both platforms.
• It also takes a slightly higher cut of 5-12% (depending on your membership tier).
• Patreon also doesn’t provide analytics in the free plan, you have to upgrade to pro for analytics. 👎

Now you have at least some clarity on what these platforms are and their pros and cons. But I won’t just leave you here, checkout below the detailed comparison of features of both platforms to understand them better and choose the best suitable option for your business.

Alright enough talking. Let's start off our comparison by examining the key aspects of Patreon and Buy Me a Coffee side by side

Buy Me A Coffee Vs Patreon: Comparison

Features:

Memberships:

‍Analytics:

User-Friendliness:

Pricing:

Payment Methods:

What's the Best Pick in 2023?

The best pick between Patreon and Buy Me a Coffee ultimately depends on your specific needs as a creator. If you want robust membership features, a vast array of perks, and an immersive community experience, Patreon may be the ideal choice. On the other hand, if you prefer a simpler approach focused on direct support, seamless transactions, and an online tip jar, Buy Me a Coffee may better suit your needs.

Conclusion:

Buy Me a Coffee and Patreon are both distinguished players in the realm of creator platforms. While Patreon offers an extensive feature set, memberships, and advanced analytics, Buy Me a Coffee shines with its simplicity, user-friendliness, and direct support focus. As a creator you need to assess your goals, consider the features that resonate with you, and select the platform that aligns best with your creative aspirations.

FAQs:

How does Patreon make money?

Patreon generates revenue through two primary sources. First, it charges a processing fee on each pledge received, which covers the costs associated with handling the financial transactions. Second, Patreon applies a platform fee, ranging from 5% to 12% depending on the membership tier, to support the maintenance and development of the platform.

‍Can I use both Patreon and Buy Me a Coffee simultaneously?

Yes, it is possible to use both Patreon and Buy Me a Coffee simultaneously. Many creators leverage multiple platforms to diversify their income streams and engage with different segments of their audience. You can offer exclusive content or perks on Patreon while using Buy Me a Coffee for one-time payments or direct support. Just ensure that you effectively communicate and manage your offerings across both platforms.

‍Are there any hidden fees on Buy Me a Coffee?

Buy Me a Coffee is transparent about its fees. The platform charges a 5% transaction fee on all paid support received through its platform. Additionally, it's important to consider payment processing fees, which vary depending on the chosen payment method and the location of the transaction. These processing fees are separate from Buy Me a Coffee's transaction fee and are typically charged by the payment service provider (e.g., PayPal, Stripe).

‍Can I switch platforms from Patreon to Buy Me a Coffee?

Yes, it is possible to switch platforms from Patreon to Buy Me a Coffee or vice versa. However, it's important to consider the implications of such a move. Transitioning platforms involves migrating your audience, updating payment and membership settings, and potentially adjusting your content strategy. It's recommended to carefully evaluate the features, benefits, and potential impact on your existing supporter base before making a switch.

How long does Buy Me a Coffee payout take?

All Stripe payments on BMC are processed instantly to your account, for manual payouts (Payoneer/Direct bank transfer) the standard processing time is 7-10 business days. Following are a few reasons your payout may be delayed:

• You haven't connected a payment method.
• Your account is under review.
• You haven't submitted the requested proof for verification
• The details you shared for verifying your page are insufficient.