{"id":18799,"date":"2024-02-09T16:13:21","date_gmt":"2024-02-09T16:13:21","guid":{"rendered":"https:\/\/www.webmonkey.com\/coinout-review-is-this-shark-tank-app-legit-or-a-scam\/"},"modified":"2024-07-11T19:15:11","modified_gmt":"2024-07-11T19:15:11","slug":"coinout-app-review","status":"publish","type":"post","link":"https:\/\/www.webmonkey.com\/coinout-app-review\/","title":{"rendered":"CoinOut Review – Is This Shark Tank App Legit Or A Scam?"},"content":{"rendered":"
In the world of cashback reward apps<\/a>, there are generally two different types of apps.<\/p>\n Some apps, like Ibotta or Fetch Rewards<\/a>, pay shoppers for buying sponsored products and uploading a receipt as proof of purchase.<\/p>\n On the other hand, you have apps like Drop<\/a> or Dosh, that pay you in bits of passive income<\/a> for connecting a credit card and shopping at various retailers.<\/p>\n Regardless of the cashback platform, one of the main limitations is often the\u00a0type\u00a0<\/em>of retailers that are eligible for cashback. You shop, upload receipts, and nothing seems to credit.<\/p>\n That's why when I heard about CoinOut, a receipt scanning apps that states it lets you earn cashback from\u00a0anywhere<\/em>, I had to investigate.<\/p>\n But is CoinOut legit? And how much does this app really pay?<\/p>\n If you're wondering how this Shark Tank featured reward app works, be sure to read this CoinOut review until the end to see if it's worth your time.<\/p>\n Looking for more money-making ideas? Checkout<\/strong>:<\/p>\n CoinOut<\/a> is a free app for iOS and Android devices that lets users earn cashback for uploading their receipts. If you've ever used receipt scanning apps like Receipt Hog<\/a>, Receipt Pal<\/a>, or Checkout 51<\/a>, you'll know exactly what to expect<\/strong>.<\/p>\n But, in case you haven't, the idea is pretty simple: all you have to do is shop, snap a photo of your receipt, and upload it through the CoinOut app to earn cashback.<\/p>\n <\/p>\n The app also functions as a digital wallet, and this is actually the foundation of CoinOut. The app aims to tackle the idea that people aren't willing to put in the effort to keep and track their loose change.<\/p>\n CoinOut was actually featured on Shark Tank back in February of 2018. Since then, the app has grown to the point of over 3 million receipts per month.<\/p>\n <\/p>\n CoinOut founder Jeffrey Witten pitched the Shark Tank, asking for $250,000 in exchange for 7.5% of CoinOut. Witten's pitch was largely based on this idea of fixing the loose change problem.<\/p>\n After a lot of back and forth, multiple offers, and scorn from Mark Cuban, Witten ended up securing a $250,000 deal with Robert Herjavec for 15% of the company.<\/p>\n Since then, CoinOut has gone on to partner with Epson<\/a>, a POS provider, grow its user base, and find its way in the saturated mobile reward app market.<\/p>\n Yes, CoinOut is legit and pays its users for uploading receipts<\/strong>.\u00a0The app was featured on Shark Tank and has millions of downloads and plenty of positive reviews on both the Android and iOS app stores<\/strong>.<\/p>\n However, the main complaint people have about CoinOut is that it doesn't pay very much per receipt.<\/p>\n But, the main takeaway with any money making app<\/a> is to have realistic expectations. CoinOut receipts don't pay that much, and the real money comes from completing badges.<\/p>\n CoinOut makes up for this in my opinion by having no minimum withdrawal amount for Amazon gift cards or direct deposit. However, it's not a very lucrative app overall.<\/p>\n I tried out CoinOut for the purpose of this review, and the app is very simple to use. Overall, it works in eight steps if you want to maximize all of its features:<\/p>\n Time to cover how each one of these steps works in a bit more detail.<\/p>\n CoinOut is available for Android and iOs, and it's one of the most popular reward apps in the United States.<\/p>\n Once you download the CoinOut app, you have to register by providing your phone number.<\/p>\n CoinOut then texts you a verification code, and there's no way to bypass this. I don't recommend trying to use VOIP phones or anything sketchy since your account might just get banned down the line.<\/p>\n Once you register with CoinOut, you can start using the app to earn cashback for your in-store and online receipts<\/strong>.<\/p>\n The process is very similar to Fetch Rewards<\/a>, and you're basically getting paid for sharing your shopping data with CoinOut.<\/p>\n To upload receipts to CoinOut, you just need to scan the receipt using the CoinOut app and submit the photo. Just note that receipts can't be older than 2 weeks in order to credit. Once you upload a receipt, you earn cashback in your CoinOut wallet.<\/p>\n There are some nuances here which I'll cover a bit later in this CoinOut review. However, the process is fairly simple.<\/p>\n Currently, CoinOut offers the following reward options:<\/p>\n <\/p>\n However, one of the best features of the CoinOut app is that there is\u00a0no minimum requirement\u00a0<\/em>to cashout via direct deposit or Amazon gift cards.<\/p>\n Frankly. this is by far the coolest feature of CoinOut. You can actually benefit from uploading receipts with this app without having to wait agonizing weeks or months to reach a certain threshold.<\/p>\n Unfortunately, cashing out for PayPal money<\/a> requires a minimum of $10 in your CoinOut wallet.<\/p>\n So, there's the gist of the app! But, there are still a few important details regarding receipt types and overall earning potential.<\/p>\n CoinOut recently started accepting electronic receipts, providing another way to earn cashback.<\/p>\n When you get a receipt, simply forward it to receipts@coinout.com. You must send receipts the same day as your purchase, and CoinOut only accepts up to 8 receipts per day.<\/p>\n Edit:\u00a0<\/strong>CoinOut has changed how their online cashback portal works.<\/p>\n <\/p>\n Now, retailers like Walmart and eBay pay you automatic cashback thanks to CoinOut's new partner market, which is basically a network of cashback offers.<\/p>\n This isn't the most robust cashback platform out there, and I stick with Rakuten<\/a><\/strong> and Capital One Shopping<\/a><\/strong>, but it's nice new features are getting added.<\/p>\n Note: Capital One Shopping compensates us when you sign up with the provided links<\/em>.<\/p>\n The CoinOut app homepage contains a number of badges, which are partner offers and rotating bonus offers that you can use to earn extra cashback.<\/p>\n Popular examples of CoinOut badges include<\/strong>:<\/p>\n\n
What Is CoinOut?<\/strong><\/h2>\n
Is CoinOut Legit?<\/strong><\/h2>\n
How Does CoinOut Work?<\/strong><\/h2>\n
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1. Download & Signup<\/strong><\/h3>\n
2. Shop & Scan Receipts<\/strong><\/h3>\n
3. Redeem Cashback<\/strong><\/h3>\n
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4. Upload E-Receipts<\/strong><\/h3>\n
5. Use Homepage Badges<\/strong><\/h3>\n
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