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 ‘contact’ 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.