On TikTok, the ‘Personalfinance’ hashtag counts over 3.7 billion views. ― AFP pic via ETX StudioSAN FRANCISCO, Feb 24 ― Dances and lip-syncs aren't the only trends on TikTok these days. Now, the Chinese social network is attracting a new breed of influencers offering advice on how best to invest money and boost your personal finances. And their videos are going viral, often drawing millions of views, much to the delight of the influencers ― and their bank balances.
On the social network, videos about investing in cryptocurrencies, how to buy stocks or understand the financial markets are buzzing big time. With over 227,500 TikTok followers, the influencer Antonette Aquino ― aka “moneyhealthcheck” ― has gained over 1.6 million “Likes,” with videos explaining different kinds of investments. The videos have hundreds of thousands of views, sometimes a million or more.
However, users should beware not to always take this kind of advice at face value. Some content creators promise the earth with their precious advice, which will supposedly earn money quickly and easily. And in these difficult times, those kinds of promises are the stuff of dreams for the internet users who watch these videos and follow these accounts. That, in turn, is a godsend for creators, who notch up followers and views, allowing them to make money via the TikTok Creator Fund.
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