When it comes to putting a price tag on digital music, there are a few options. Some musicians want to set the price that fans pay for music, while others simply want to offer their music for free.

A newer approach is to let fans set their own price, allowing them to pay as much or as little as they want for the music, including taking it for free. You can also set a minimum price, and let your fans “tip” you by paying more than that minimum. Many fans end up paying more, simply because they want to…