Replit's 25% Cashout Fee

So I’m in the process of cashing out my cycles for the first time. I’m cashing out a total of 47,880 cycles, which comes to a raw total of $478.80 US.

If you look in the bounties terms right now, you will see that on top of other transaction/currency fees, there is a whopping 25% taken from your cashout. Now this is a massive portion of your money, in my opinion it’s way too much, but that’s not the main point I want to bring attention to.

When you apply for and complete a bounty, you see the exact amount you are earning. Or do you…? Because suddenly 25% of this is disappearing… It’s misleading not to take into account that 25% of the money from a bounty is never going to be yours if you try to cashout. I completed a bounty for 36,000 cycles, but it’s not actually worth $360 US, it’s actually worth $270 US.

I’m not saying I want the 25% that’s being taken (although I’m not not saying that…), I’m saying where was this 25% ever mentioned. It needs to be shown somewhere on the bounties pages that you will loose a quarter of every cent you earn and try to cashout.

To be clear, I agree to the terms, and that agreement is signified by me taking on and completing bounties, but I don’t agree with the terms (there’s an important difference).

I think it’s important that the amount bounty hunters earn is completely transparent, or at least there’s an asterisk right under that monetary amount saying that this does not take into account the 25% cashout fee and other fees. Otherwise users like me feel a bit cheated when they find that out of the blue this money is just gone.

Now another thing. I’m working to complete these bounties. I’m spending my time and effort. I’m supposed to be getting paid for this. In the case of the bounty I’m earning $360 US for, I expect $360 US, but now I’m finding that Replit gets a quarter of my pay, just for holding onto my money? I mean, when you think about it, it kinda sounds like a scam…

All in all, I absolutely love Replit, there is so much to love about it. But frankly, doing business on this platform seems out of the question for me and I think I’m going to seriously evaluate other options for coding ‘contract’ work before I come back to bounties (after I finish the one I’m currently working on). Because theoretically I’ve earned $478.80 US for my work, but in reality, I’m only getting $359.10 US at maximum… Replit is taking $119.70 US from me for my work… it just seems unfair.

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This reminds me of the 10% “fee” on tipping cycles. Replit needs to make money somehow but I don’t think this is the right way. Maybe I’m wrong… it’s not like I own a business.

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Heck yeah! If they aren’t gonna show it lower it!

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yeah this is why I haven’t cashed out my cycles, Im just waiting hoping replit is gunna lower “their cut”

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Your cashing out? cool!!! also, I agree with you

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I’ve actually since finished the cash out process. Of the roughly $475 US I supposedly earned, I only received a total of roughly $328 US in the end after ‘Replit’s cut’ and all the other fees (the fees amounted to roughly $20 US).

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That’s kinda sad :frowning: really sry

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:sigh: You’re* smh sonic c’mon man

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Currently possibly the best thing to do with your cycles would be to create a bounty for a product which you can monetize

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Yeah, it is especially annoying because you lose a bunch of cycles since they take like, 10% of all transactions or smth. Then, if you go to cash out, they take another 25% of it lol.

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10% of a 200 cycle tip is the same thing as 10% from two 100 cycle tips.

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Dude I cant do math rn, I’m on spring break :stuck_out_tongue:

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to put into perspective, 25% is more that the IRS takes on lottery winnings. And lottery money isn’t a product of hard work!

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Replit when monetizeation
download (3)
By their logic though, I guess that if people don’t see what Replit takes, they think they get 3,500 cycles instead of 2,625 cycles. Basically deceptive practice considering that Replit isn’t fully transparent with what they take.

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REPLIT EQUATION
(with x as amount listed)
x*75/100 = amount you really get.

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… that’s a quarter … it should be x * 75/100 = x * 3/4 or x - x * 25/100 = x - x/4

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Just realized that lol. Just burned out my brain from 3 hours of Python.
EDIT: fixed everything I posted here. Forgor to adjust percents :skull:

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Thank you all for the very constructive feedback, and math, can’t forget those glorious equations…

We’re still refining the product and the incentive structure, so expect things to change. The 25% fee will likely hold, and the fees depend on your location and banking situation.

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Can we at least get rid of the minimum cycles earned to cash out? I’m $70 in cycles short of the amount I need to be able to cash out and I don’t think that makes much sense at all.

I’m just gonna pay myself $70 with a bounty to get over the minimum, and then cash out…

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You would lose 25% of the $70 USD you spend on that bounty…

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