Note: We may earn a commission from affiliate links on this page. These do not affect our ratings or recommendations.
CoinOut Review At a Glance
- We believe CoinOut is legit. We gave it a trust rating of 4.0/5. View reasoning.
- Based on our combined research and user reviews, CoinOut seems to be a good earning/saving opportunity for Participants. It has an overall earner score of 3.9/5. View our research or read the user reviews.
What Is CoinOut?
CoinOut is a mobile rewards platform where users can earn cashback by scanning and submitting receipts from online and in-store shopping trips. Founded in 2015, the platform was acquired by IRI Worldwide in 2021.
General Details 📜
| Status: | Active, Legit |
|---|---|
| Helps You: | Make Money Save Money |
| Platform Type: | Rewards |
| Opportunities: | Dining Out Savings Gas Savings Grocery Savings In-Store Savings Market Research Participation |
Contact Info ☎️
| Socials: | LinkedIn • Facebook • Instagram • Twitter • YouTube |
|---|---|
| Emails: | support@coinout.com (for general support) |
| Support Pages: | Help Center |
Company Details 🏢
| Founded: | 2015 |
|---|---|
| Legal Name: | Coin Out Inc. |
| Parent Company: | IRI Worldwide |
| Founders: | Andy Pliszka • Jeffrey Witten |
| Headquarters: | New York, New York, United States |
Who Is CoinOut For?
CoinOut is for anyone looking to earn extra money (cashback) by sharing their receipts. Keep in mind, this platform won't make you a fortune!
Requirements 🔎
| Minimum Age: | 18 years old |
|---|---|
| Supported Locations: | United States |
| Supported Languages: | English |
| Supported Devices: | Android Phone, Android Tablet, iPad, iPhone |
How Does CoinOut Work?
There's 1 type of user on CoinOut:
- Participants
Here's how CoinOut works for them:
How CoinOut Works For Participants
CoinOut participants can earn Coins by submitting receipts, completing goals, taking surveys, and more. 1 CoinOut Coin = $0.001-$0.00106. After accumulating $3 (~2,830-3,000 Coins), Coins can be redeemed for cash via PayPal and Zelle, or for Amazon gift cards.
Key Points 🔑
| Work Type: | Casual |
|---|---|
| Income Type: | Active, Semi-Passive Earning money from your online orders on CoinOut can be considered semi-passive as, once you connect your accounts and import your orders, the rest is automatic. |
| Work Schedule: | Flexible |
| Workplace: | Remote |
| Point Conversion: | 1 CoinOut Coin is worth $0.001-$0.00106. 943-1000 Coins = $1. To reach the minimum payout amount listed below, you'll need to have around 2830-3000 Coins. Coin conversions vary based on payout amounts. Higher value payouts typically offer better coin conversion rates. |
| Minimum Payout: | $3 Minimum payout may vary based on your CoinOut account level. |
| Payout Options: | Direct Deposit Gift Cards PayPal Amazon Gift Card Direct deposits are sent via Zelle. |
| Payout Speed: | 0-9 days Payouts are processed within 7 business days. |
| Sign Up Bonus: | 250 coins ($0.25-$0.265) and 1 Game Play. Sign up here. |
| Pros: |
|
| Cons: |
|
| Tips: |
Pros, cons, and tips are based on real CoinOut Participant reviews. |
Getting Started 🔢
Becoming a CoinOut participant is free. To get started, download the CoinOut app and create an account. During signup, you'll be asked to provide your email, mobile number, and date of birth.
Sign up bonus: 250 coins ($0.25-$0.265) and 1 Game Play. Sign up here.
Earning Money 💵
Scanning and sharing receipts is the primary way to earn money on CoinOut. You can earn from both paper receipts (from in-store shopping) as well as online receipts (from online stores), and they can come from any retailer.
Here's how each type of receipt works:
- Paper receipts. Scan these into the CoinOut app to earn. Receipts must contain the name of the store, date and time of purchase, items purchased (with prices), and total purchase amount. Also, Receipts must be submitted within 2 weeks of the purchase date, from your own or a family member's purchase, in English and USD, and unique. After submitting a receipt, it can take up to 3 business days for CoinOut to process it.
- Online order receipts. Connect your email(s) and retailer accounts (e.g. Amazon, Starbucks, Walmart, etc.) to the CoinOut app to import your orders and earn coins. If you import at least one online order between Sunday and Tuesday each week, you may earn a bonus of 10-50 coins depending on your CoinOut level (more info on levels below).
Receipt scanning limits include:
- Store limit: You can only submit up to 5 receipts from the same store every 24 hours.
- Weekly limit: You can submit up to 25 valid receipts per week with a standard incentive. After the 25th receipt, you'll receive just 10 Coins for every receipt, or nothing if you're only a bronze-level participant (more info on levels below).
- Monthly limit: You can submit up to 125 valid receipts per month with a standard incentive. From there, you'll receive 10 Coins for each receipt, or nothing if you're only a bronze-level participant (more info on levels below).
Other ways to earn on CoinOut include:
- Badges. These are essentially goals that you can complete for bonus earnings. For example, you might unlock a badge when you submit a certain number of receipts. There are both monthly badges (repeatable every month) and lifetime badges (completable once). Along with coins, badges can also help you earn Game Plays for CoinFrenzy...
- CoinFrenzy. This is an in-app slot machine game you can play for a chance to win extra Coins. You can only play this game using Game Plays, which are earned by submitting receipts (5 receipts = 1 Game Play, up to 5 Game Plays per week) and completing badge challenges.
- Surveys. A variety of surveys may be available in the app and these ask for your opinions on product improvements, marketing campaigns, brand awareness, and more.
As mentioned above, CoinOut has a leveling system. There are 5 levels in total:
- Bronze
- Silver
- Gold
- Platinum
- Diamond
Your current level is based off of your past month's activity in the CoinOut app, so you need to be active to maintain a high level. Higher levels offer additional perks like bonus earnings and additional payout options.
Cashing Out 💰
Once you have at least $3 (~2,830-3,000 Coins) in your balance, you can cash out your CoinOut earnings via Direct Deposit, Gift Cards or PayPal.
After cashing out, you can expect to receive your CoinOut payout in 0-9 days. (Payouts are processed within 7 business days.)
Get the FREE 9-Day Guide to Making Money Online
Learn how to make an extra $500+ a month with this FREE beginner's guide. Includes 7 main money-making strategies ranging from easy to advanced + dozens of mini-opportunities in-between.
Unsubscribe at any time. I'll never share or sell your information.
CoinOut Videos and Images
Our Editorial CoinOut Review
Is CoinOut Legit?
We believe CoinOut is legit. It has been operating since 2015, was acquired in 2021 by IRI Worldwide (a Chicago-based market research company founded in 1979), and has raised a total of $2.7M in venture funding. One small red flag is the platform's lack of social media presence, but that's not enough to call CoinOut a scam.
Green flags:
- Founded in 2015.
- Acquired in 2021 by IRI Worldwide, a market research company founded in 1979 and based in Chicago, Illinois, United States.
- Has raised a total of $2.7M in venture funding.
- Has positive reviews across the web.
- Has a functional website and user-friendly app with transparent information about how the platform works and what users can expect before joining.
- Was featured on Shark Tank.
Red flags:
- Lack of social media presence. Last activity was in 2022.
Note: All research is done independently and could be wrong or change as new information is gathered. Please do your own due diligence.
Is CoinOut Worth It for Participants? Is It a Good Way to Make Money?
Our editorial earner review is currently incomplete. Showing what we have so far...
CoinOut Statistics
General Platform Statistics
#294,160
Global Site Rank
189.9K
Avg. Monthly Site Visitors
2.6M+
Total App Downloads
Data as of November 06, 2023 • Sources: Similarweb, AppBrain
CoinOut Reviews From Participants
Average Scores
Reviewer Recommendation
😁 100%Rating Breakdown
When stacked with other receipt apps, it's an excellent resource to make the most out of one receipt.
A solid app I would recommend stacking with other receipt apps. While it's not quite as organized, polished, or incentivized as other receipt apps, it's easy to use and works with a wide variety of receipt types. Occasional bonuses are available, but it's not quite as thorough as other receipt apps in its interface and feels almost unfinished.
- You can upload more or less any receipt
- Less receipt location restrictions than other similar apps (ie. accepts USPS receipts)
- Hard and heavy restriction on uploads per day
- Occasionally buggy interface
- Naturally blurry resolution that doesn't seem to adjust with different cameras
- Sporadic per receipt payouts that don't seem to make sense
- Upload as many receipts as possible, as this app takes far more variety than normal receipt apps, including receipts from airports and post offices.
- Space out your receipts throughout the week due to the hard limit on roughly ~8-10 receipt uploads per day
- Do your best to capture the whole receipt in the camera's view, as it does not allow for part-by-part shooting like most receipt apps
Related Content
Best Receipt Cash Back Apps and Sites (Get Paid to Scan)
20 Amazing Apps That Pay You to Shop (For Real)
30 Simple Ways to Save Money on Groceries
How to Save Money: Top 60 Money-Saving Tips and Tricks
Ways to Get Paid for Your Data (Top Collection Sites and Apps)
