I just thought i would start a thread giving an introduction to Microstock Photography for the new members of the forum.  Hopefully this thread can be a source of good info and resources.

What is Microstock Photography
Microstock Photography is the term given to the business of selling your photos online through a Microstock agency.  Microstock Photography is very similar to traditional stock photography but sets itself apart by offering images for sale at a very low cost (typically $1.00-$40).  Microstock photography also has a very low threshold in regards to who can participate, unlock traditional stock photography agencies which often require a portfolio of several hundred or thousand images before you are accepted.
[Wikipedia Definition]

Microstock Agencies
There are many many microstock agencies which are willing to sell your images.  However not all agencies have enough traffic to generate decent sales.  The top 4 agencies are Shutterstock, iStock, Fotolia and Dreamstime.  You can check out the poll on the right side of the page for the full list.  The agencies are listed in order from highest to lowest earning site according to the monthly polls on MicrostockGroup.

Getting Started
Don't be mislead by the cheap prices - Microstock is a professional marketplace and is very technically demanding.  Even if you are already a professional photographer, don't be surprised if you have troubles getting images accepted when you first start uploading.  Take the rejections to heart and learn from them.  You can also post images in the critique section to get other users opinions.

Is there anyone here who makes a living off this? I mean as the main source of income? I am looking for ways to diversify my income, and since I love photography, I am thinking if this could be a good fit or just a waste of time.

Thanks