COIN App Review: Good Passive Income?

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The COIN app goes by the mantra, “Always Be Earning” and it’s one of the most popular cryptocurrency mining apps if you’re looking to make money on your phone.  It has more than 1,000,000+ downloads and a decent 4.7/5 rating on the Google Play Store.

This is a passive income app that allows you to earn crypto rewards for completing tasks, such as surveys, offers or even sharing your data.  Even if you don’t want to do anything, you can earn, which I feel is one of the reasons why it’s so popular.

While there are a lot of these apps out there, many are not worth your time.  Is the COIN app one of them?

We’re about to find out.

In today’s review, let’s talk about the COIN app and if it’s worth your time.  And, as in all of my reviews, I’m always honest, only recommending what I feel is worth your time.  I downloaded the app and played around with it so you don’t have to.

What is the COIN App?

The COIN app is a geomining tool that will reward you with digital coins for sharing your location data, playing games as well as completing various tasks.  As long as you’re running this app, you can earn, so essentially, you don’t have to do anything.  The digital coins you earn can then be exchanged for real life rewards as well as prizes.

It can be confusing at first when you download it, but once you play around with it, it’s pretty easy to figure out.

Let’s see how it works in detail.

How Does the COIN App Work?

To start using the COIN app, you will have to sign up for an account, which takes less than a few minutes to do.  This can all be done within the app, and as long as you have an email, you can sign up.

This app is 100% free to join and you can live ANYWHERE in the world.

All the app asks for is your email and name, that’s it.  And, after you accept the terms and conditions, you can start to use the app.

The minute you accept the terms, you can start to earn rewards immediately, and there are a ton of ways to earn.

Earning Money via Mining

To start earning money, you can do one of many things, but mainly, you’re going to earn money through geomining.

This is the process of exploring your area and “mining” as you go.  Whenever you walk around in the app, as you can see in that screenshot above, you can click on the mining axe and earn a few points in doing so.  As you explore your city and have the app open, you can earn coins as you go.  You’re then able to complete a short mini-game if you want to mine the same area again.

Usually, whenever you’re mining, you will earn about .04 coins for every successful mine, which isn’t much, but as you explore more, you can earn more.  And, depending on where you are, you can earn even more, such as walking into a certain store or even receiving what’s known as a “geodrop,” which can lead to even more rewards.

Again, this is as easy as clicking that mining logo and earning a few points.

NOTE:  You can earn more if you upgrade to the “premium” account which can cost $24.95 or $34.95 per month, however, the rewards, which are multiplied, doesn’t seem all that worth it.  You can even earn more if you purchase the “SentinelX” device.

Earning Money via Other Methods

Aside from geomining, you can earn in a variety of other ways, which I will briefly explain below.

To find these opportunities, you will simply click on the “plus” sign, as seen above, and then click on a reward of interest.

Rewarded Tasks

These are additional ways to earn, which include surveys, games, special offers, product scans, and even shopping.

All you need to do is click on one of interest and then follow the prompts.

A lot of what you see comes from a third-party offerwall, which simply means you can find these offers on so many other sites.  You won’t find much unique here nor will you find a whole lot to do.  However, some can benefit you as you’re out and about, such as visiting a store or scanning items inside of a store you’re at.

Bonus Drops

Bonus Drops will show you when the next bonus drop will happen as well as the “power” of the drop.

To receive bonus drops, you will have to simply earn coins.  As you do, you can qualify for the drops specified and they will then show up on your map.

HODL Rewards

HODL rewards allow you to deposit your “COIN” and earn interest, which can vary from .2% to more than 3%.  Picture it as a cryptocurrency bank account.

Referral Rewards

For every person you refer, you will be gifted 1000 COIN as well as 10% of what they earn.  Just open the link and share it with your friends.

Background Rewards

The background rewards allow you to earn coins whenever your app is running.

Depending on your “level,” you can step away from the app for a few hours and earn coins, which are variable.  The company notes they aren’t worth as much as when you’re mining, but it’s a way to earn a reward, nonetheless.

You will not start earning until you step away for at least five minutes.

Redeeming COIN

Whenever you complete any of the tasks mentioned above, you will earn the in-house currency, COIN.

Unfortunately, you can’t exchange your coins for PayPal cash.

Instead, you will have to choose from either XYO, BTC or ETH.

You can also choose from a variety of items, such as Apple AirPods, iPads, etc.  These always change, but it seems as if most people want Bitcoin.

For BTC, you will need 1,394,325 COIN to earn 0.25 Bitcoin.  I know the value changes a lot, but when I was writing this, BTC was worth about $26,806, so 0.25 BTC is about $6701 in value.  Not bad!  However, earning 1.3 million coins will take forever.

What you will find out is that the company highly encourages you to exchange your COIN for XYO, which, like BTC, varies.

As you can see on this chart, it peaked at about 0.02 and has since dropped to about $0.005.  At this rate, that means, 79.5 XYO is worth about $0.40 at the moment.  That means every 1,000 coin is worth about $0.40 in value, however, as with any cryptocurrency, it can change in value.  This could double or it could fall twice as much.  Who knows?  This is just to give you an idea of what you can earn while using the app.

At the end with the rewards, you will more than likely have to choose XYO and that’s about it because earning millions of coins to cash out for BTC will be next to impossible.

You will need at least 10,000 COIN to start the redemption process.

How Much Can I Earn?

I played around with the app for a week or so and I think your earning potential can be about 300 to 500 COIN per week as long as you’re using it.

That means that you will need to play around with the app for at least 20 weeks to earn 10,000 COIN, which is about $4 in value.  That isn’t all that great.  However, you can earn much more if you do the rewards, but I don’t recommend this option as you can find these types of offers on much better sites such as Swagbucks or Freecash, for example.

You can earn MUCH more if you’re driving around a lot more than I did.  Your results will vary.

Simply put, you’re not going to make much.

The Pros:

  • great customer support
  • if you drive a lot, you can earn points easily
  • unique way to earn money
  • available globally

The Cons:

  • rewards are tied with crypto, which means your value goes up and down
  • not a lot of earning potential
  • high payout threshold
  • no PayPal

Final Thoughts

2/10In the end, the COIN app won’t pay all that much, even if you open it daily.  I’m only thinking $1 a week at that, maybe less.  It could be a lot less if the XYO coin continues to tank.  I think it may only be beneficial if you’re driving a lot every single day.

While it is a passive income option in a way, it sure won’t earn you a ton, and that’s why I won’t be using it.

While it’s 100% legitimate and you do get paid, I just don’t feel it’s worth your time in comparison to other money-making app options.  You’re much better off just opening a $1 survey and completing it.  That’s a lot less work than mining constantly.

That does it for now.

If you want to talk about your experience, you’re more than welcome to sound off below.

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Tom Nathaniel

Hi! My name is Tom Nathaniel, and I created LushDollar to help share my honest thoughts on everything money. You won't find gimmicks here. It's the Internet's most honest money site after all. I graduated from Arizona State University, and I have worked in the finance industry since 2006, consulting with multiple Fortune 5000 companies.

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