Web Monetization with Coil: A Content Creator's Guide to What They Don't Tell You About

As a content creator, you know how important it is to find ways to monetize your work. With the rise of Web Monetization, platforms like Coil offers a new way to receive payments for the content you create and share online. However, before you get started with Web Monetization, it's important to understand what they don't tell you about.

1. Limited adoption: Web Monetization is still in its early stages, and it is not yet widely adopted by content creators or users. This means that it may be difficult to find content that is monetized with Coil, and you may not see many payments coming in if you are a content creator.

2. Complex setup: Setting up Web Monetization with Coil requires a certain level of technical expertise. You will need to install a Web Monetization plugin, set up an Interledger Protocol (ILP) account, and link your content to your account. This can be intimidating for content creators who are not comfortable with technology.

3. Lack of transparency: It is not clear how Coil determines the amount of money that content creators receive for their content. There is no public information available on the algorithms or factors that are used to calculate payments, which can be frustrating for content creators who want to understand how their income is being determined.

4. Privacy concerns: Web Monetization with Coil requires users to share their browsing data with the platform. This includes information about the websites they visit and the content they consume. While this data is reportedly anonymized, it is not clear how it is being used or who has access to it.

Despite these potential drawbacks, Web Monetization with Coil can still be a valuable tool for content creators. If you decide to give it a try, be sure to do your research and understand the risks and benefits before getting started. It's also a good idea to keep an eye on the development of Web Monetization as a whole, as the technology is constantly evolving and new platforms and payment options may become available.