Coil pays $0.36 for every hour a Coil Member spends on your content. Coil sends micropayments roughly every second for each visiting member.
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Other providers may pay differently. I don't think Coil can be customized.
If you print the payments to console you can see that it is paying frequently in tiny amounts which then add up.
I remember reading that the payment is also based on how much time is left in your subscription period / how much you have left in your monthly balance but you would have to look that up / test it.
To further clarify some of what Subsoap said, Coil is currently the only payment sending service. Coil will send at a reduced rate once the user has paid 4.50USD but this lower rate isn't documented. It will continue paying out even after the user has paid 5.00USD (the user won't get charged extra).
There is no way for the content creator to request an amount. This is by design. It's not meant to feel transactional like a purchase. Think of it as an extra benefit of their existing Coil subscription to patronize their favorite creators and get special content unlocks.
Since you are receiving transaction amounts every second, you could lock content unless it's paying at a certain rate. This is a tad scummy because they are still paying something, and they can't "refund" the payment even if Coil wanted to.
You're not going to be using this to get rich, there are not enough people who have WM enabled currently enabled to even make this a viable possibility. So the financial aspect of it shouldn't even be a concern to you or really anyone else, it's a toy to play with right now. If you think it's a cool developing technology then use it, if all you see is a tip jar while disregarding everything else about it and not understanding why it's useful beyond other existing "tip jar" services then you're free to ignore it or call it whatever you want.
@TheSugarRay, I think it is a way to universally promote content creators so they do not have to resort to advertisemnts to make a little scratch on their content. The brave browser has a similar monetization concept built in, and I have been using it and contributing to creators passively while not engaging in ads, and love it.
So i would think of it being less of a tip jar, and more of a replacement for monetizing with advertisements. Ko-fi is exactly a tip jar IMO, and these are two very different and useful things to have.
