Caution: Third Party Offers


#1

Most recently, we’ve had a number of writers inquire about the legitimacy of offers from certain third parties who have been soliciting their services via Wattpad PM. Their promises to writers contain several red flags, including vague, broad-sweeping language, inconsistent points of contact, and evasive responses regarding their contracts.

As always, we encourage writers to do their research when it comes to any opportunity. Below are some helpful tips on how to make an informed decision.

  1. Conduct an Internet search of the company and see if it returns any results that may look suspicious.
  2. Ask the writer community in the Industry Insiders’ club. A number of Wattpadders who also work in the publishing and entertainment spaces may have additional insight or guidance.
  3. Pay attention to the phrasing and language used. Being addressed as “writer” or “author,” for example, could mean you’re receiving a generic offer aimed at hundreds of others.
  4. Ensure you fully understand the company’s process and their terms of agreement. This includes, but is not limited to, copyright, distribution rights, etc. Seek legal advice, if necessary. Always read the fine print so you are aware of what rights you may retain and what you are giving away.
  5. Never be afraid of asking too many questions. If the company is credible and genuinely interested in working with you, they should have no problem fielding all of your questions.
  6. If you are approached by someone whose vision does not align with your own or who is making you an offer that seems unjust, do not feel pressured to sign anything. Understand that there are a number of similar applications using Wattpad to source new talent. Do not sell yourself short.

Remember, on Wattpad you retain all rights to your stories. Not all platforms work this way, so be careful and cautious when approached by ANYONE who wants you to sign away your hard work.


Someone Has Offered to Publish My Story and I Don't Know What To Do!
Ask the Ambassadors Anything
pinned globally #2

#3

And #7, report it to wattpad as spam if it came from wattpad (rather than an email).


#4

#8 warn other people about the incident.


I'm pretty sure this is my eighth scam in only a few months... What's up with that?
#5

I believe #2 will take care of that.


#6

o h

w e l p


#7

Avoid Dreame and ReaderCoin like the plague! They’re everything @samantha talked about in #3


#8

To add to what Fray said, also avoid FicFun and BLVNP.


#9

Surprise Radish stopped which is good but others :unamused: But great info! I never got any, boo and yay!


#12

What’s wrong with Readercoin? They pay up and I read the TOS really carefully and didn’t notice anything fishy.


#15

ST back at it again with the not so subtle insults and declaration self assured superiority.

I guess when you get told by multiple published authors who have had success in indie publishing that you WAY overpaid for editors and such (who quite obviously were not good at their jobs) your only line of defense of ego is to declare everyone else money grubbing and yourself as “above” that.”


Not to mention what is your relevance to this thread topic?

on the topic This is a really good post. I screenshotted and sent it to another writer friend of mine who has run into this stuff before and was wondering what was up.


#17

Everyone let’s please keep this on topic and refrain from fighting.

Thank you.

Prisim :prisim:
Community Ambassador


#18

They pay you way too little for what a book is worth. Last I remember it’s 60 readercoins per hour a reader spends on your book, and 60 readercoins were about $1 USD.

If you write a standard length novel that’s about 60k-80k words it takes on average 4-5 hours. You’ll technically make $4-5 USD. And you’re most definitely not getting all the money - they take a cut.

They also extended me an offer because I had more than 500 followers - and not for any other reason. Poaching people for the amount of followers they have is ridiculous and shows they’re not doing their own promotional work properly if they need their authors to pull in users. And if I remember correctly there were fishy things about their copyright clause.

** Edit, I found the exact offer from them:

  1. We pay you 5,000 Readercoin per book (equivalent to $50 per book at current Readercoin rates) to place some of your books on Readercoin (limit 3 books and 15,000 Readercoin). We will pay you the Readercoin within 24 hours of your informing us that the book is now active on Readercoin.
  2. After you receive the 5,000 Readercoin, you will post to your followers on social media and on Wattpad that they can earn money for charity (or for themselves) by reading your books free at Readercoin.
  3. You will ALSO earn 1 Readercoin for every 10 minutes anyone spends reading or listening to your work. The more people read your work on Readercoin, the more you earn!

So you make 1 readercoin if someone spends 10 min on your book - either audio or written. So if someone spends 60 min = 60 readercoins.

1 readercoin = .01 dollars, which is 1 cent.

So, 60 readercoins would only be 60 cents.

Meaning, if people spent 4 hours reading my book on there I wouldn’t even make 2.50 USD

Not to mention, they have a site specifically for Wattpad authors: https://www.readerco.in/wattpad-author-special/ (which seems to be outdated now but still)


#19

@AWExley @SchuylerThorpe - your comments have been removed, please keep things civil, and on topic. Thank you.


What about LitNet?
#20

Oh, well, yeah, compared to actually selling books it’s not a good deal. But compared to just having them on WattPad it’s not a bad deal, since they don’t take any of your rights or anything.

I’ve seen some people only use readercoin to post, like, their free prequel novella that they use to get readers to buy the rest of the books in the series - that doesn’t seem like a bad plan.


#21

Hey


#22

I’d honestly rather post my work on Wattpad for free, than underselling. Don’t know what that makes me. :joy: But it makes me feel better that I chose to give up first drafts for free, rather than spending time on editing the books for a really really shitty deal on a site that relies on poaching users from other sites.


#23

its just business.

there are only so many ways you will become aware of other sites and more and more sites are popping out for some reason this year and almost everyone who knows how to make a site is trying to make a site for writers to post their novels on and get money from our content.

anyway, like the first poster has stated, there are some sites that wants to take some rights instead of just the rights to post which is concerning…

most sites however, just wants the normal license to host,post,store,format/edit and put it on our affiliates.

same thing here on wattpad.

then there are sites that allow people to “buy” chapters, just like what wattpad beta is doing right now. since people are “buying” chapters, there are more rights that will be used esp since you cannot just remove content that people have paid for.


#24

Except a lot of sites also claim the rights to post, format and edit your content and share it however they like.

ReaderCoin has an overall unprofessional feel to me. You’re welcome to go ahead and post your work there and you might be super happy with it - won’t make it any less of a scam in terms of price though.

The more I look into it, the more like it seems like a scam for both writers and readers. They crank up the point limit for what’s needed to redeem prizes apparently.


#25

I agree, sites like these pounce on readers who undervalue their work and are unware about the complete sprectrum of rights. Usually, entire literally works sell for significant amounts of money. Far more than the chicken feed they are looking to pay and they still want to take a cut from that and for what?

No editing.
No print books
No access to marketing
No Readership (Only hoping to transfer the readership of authors own hard work to their site)

this smells like a lazy scheme to trick the foolish.