CoinOut Review 2024: Is CoinOut Legit? Everything You Need to Know!

The concept is simple: you take photos of your receipts after shopping, and in return, you receive a randomized reward. It’s that easy!

You might be wondering why they would pay you for something like this. Surprisingly, CoinOut isn’t interested in selling your information. Instead, the company generates revenue through advertising to its users.

CoinOut uses the purchase data to show you more relevant offers within the app. It partners with several popular retailers, allowing users to earn additional rewards. You can also complete feedback forms to earn even more.

If you primarily shop online, you’re in luck! The app accepts online shopping orders as well. Simply open the site you wish to shop at within the app, and it will take care of the rest.

Features

CoinOut (official website) aims to be a simpler alternative to other receipt scanning apps like ReceiptPal and Fetch Rewards. However, it offers a few interesting features:

• The ability to track your visits by storing your receipts for later viewing. This can be particularly useful if you’re someone who often misplaces receipts.
• New ways to save, along with weekly tips and pointers on how to maximize your money.

Do you like getting gifts? CoinOut also features a Surprise Bonus system that rewards users who regularly scan their receipts with weekly gifts.

Additionally, CoinOut guarantees that your data will not be shared with third parties. All analytics are conducted internally, so your information stays secure.

There’s no minimum earnings requirement for cashing out to your bank account or a gift card. However, there is a $10 minimum for PayPal transfers.

CoinOut also offers a referral program. You can obtain your referral link from the app in the “share and earn” section. The referral bonuses can vary over time, and you will earn a reward for every verified referral.

Uploading Receipts

One of the notable features of CoinOut is that it awards you for any receipt you submit, no matter where it’s from. To ensure you receive your instant credit, keep these important rules in mind:

Receipts must:

• Display the merchant’s name.
• Show the date, which should be within two weeks of the upload.
• Include all items purchased.
• Show the total amount spent.

There are several types of receipts that CoinOut does not accept, including:

• ATM receipts
• Bank slips
• Lotto tickets
• Credit card slips without product items
• Money orders
• Pictures of barcodes or QR codes
• Coupons
• Handwritten receipts

User Reviews of CoinOut

One of the best ways to gauge whether an app is worth your time is by looking at user reviews. These reviews can highlight common complaints or benefits that may not be evident from the app’s page. Here are some reviews I found about CoinOut:

“I love CoinOut. Easy money,” said a Reddit user.

“CoinOut is practically zero effort since they take any receipt that shows what you bought (so no credit card slips with just an amount). A few cents at a time adds up,” said another Reddit user.

“I’ve got anywhere between 1 cent to 15 cents per receipt; usually, they give 3 cents or below. I think they limit you to 5 receipts per day. They accept pretty much any receipt, so if you’re already using receipt apps, you might as well be using CoinOut as well,” said another Reddit user.

On the Google Play Store, the app has over 16,000 reviews, averaging nearly five stars out of five. Similarly, on the Apple App Store, the average rating is 4.7 stars out of five, based on over fifty thousand ratings.

Pros & Cons of CoinOut App

Everything has its good points and its bad points, and CoinOut is no exception. Here are some of the pros and cons of using CoinOut:

Pros

• It’s a nice way to passively save money.
• Receipt tracking makes keeping track of expenses a breeze.
• It features an easy-to-understand app layout.
• They won’t share your data, which is a rarity these days.

Cons

• If you accidentally upload the same receipt more than once, your account can be suspended.
• The minimum cashout is $10, which can take some time to reach.

Is CoinOut Worth It?

CoinOut is a receipt scanning app that I highly recommend. It’s easy to use, highly rated by its users, and offers a decent payout for a simple task. Additionally, you can use it alongside other receipt scanning apps to maximize your earnings.

If you’re interested in exploring more receipt apps, check out this handy list of all the ones available on Google Play and the Apple App Store.

If you’ve used CoinOut, I’d love to hear your review and whether you still use it. Feel free to share your experience in the comments below.