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An excellent venue for magic, if you have the personality and if your city's ordinances allow it. I've always been impressed with street magicians since they are really on the front line and cutting edge of magic. As in Walk-Around magic, the street performer must carry his act with him and has to perform completely surrounded.
The tips are good...at least as good as you are. I've known street performers who can pull in $300 per very long day.
The worst obstacles one can encounter doing magic outdoors are hecklers, show-offs and know-it-alls. Of course you'll encounter this type of miscreant and misanthrope anywhere, but it seems that street performers attract an undue percentage of them. If you feel like you want a challenge to your magic ability and truly enjoy magic, you might want to stretch yourself in this way.
Traditionally, good tricks for street performers include the "Chinese Linking Rings," "Cups and Balls" and "Hopping Halves."
If you are a gifted juggler, you might consider throwing (excuse the pun) some routines in the middle of your act to attract attention and to better
entertain your audience.
See street performers in action