>> we can't cash it until it reaches I think $60 or more iirc

This is highly dependent on your distributor. It can be as little as $10.

>> Spotify is not (or barely) making money out of our work, but we otoh are "making money" by using its platform and visibility as means to reaching to our small fan base that will finance our work through concerts.

This is an odd way to look at it. Without music, Spotify doesn’t exist. People subscribe to Spotify and listen to their ads in exchange for unlimited music access. So Spotify is making money from your music.