Have you been searching the web for honest reviews about what the coinout app is and wondering if you can seriously earn money scanning receipts?
Perhaps you have seen this app advertised or your friends & family have told you about it and you took to Google to do some research of your own to see what’s up with it and whether or not you could benefit from it.
Whatever your case may be, Kudos to you for taking the time to do your research to see what this is all about.
Within the following review, I’ll be going into detail and showing you guys how this app works, where to download it, and how to start earning money/cashback from utilizing everything it has to offer you.
I have personally been using this app since July of last year (2018) and have cashed out with it several times now so I know the ins and outs of how it works pretty well.
You can expect nothing but an honest & unbias review from me as I’ll be sharing the results that I’ve had from using this app over the past 9 months or so.
Are you guys ready to get started?
Product Overview At A Glance
Name Of App: Coinout
Where To Download: Coinout.com
Type Of App: Cashback
App Creator: Jeffrey Witten
Overall Rank: 4.5/ 5 Stars
Coinout is an app that was designed especially for people who despise having all kinds of loose change in their pocket and would like the opportunity to turn this into a digital currency.
There are several ways to utilize this app and earn money from it but the main focus is scanning receipts & earning cashback.
Since this app launched back in the early part of last year(2018) I have already earned a great deal in cashback as well as taking part in their referral program.
If you’re looking for an app that will put money back in your pocket in the form of cashback as well as many other ways then I would highly recommend you check into this app to see what it can do for you.
What Is The Coinout Cashback App?
This is a smartphone app that is currently available for both the Android & Apple platform.
It’s a cashback app that will not only allow you to get paid for scanning receipts but also allow you to put some of that hard earned money back in your pocket from online purchases as well.
Launched in early 2018 by Jeffrey Witten, this app was created for people who are sick of carrying their loose change around in their pocket.
How many receipts do you guys throw away from places like McD’s, Burger King, Taco Bell & Arbys on a day to day basis?
What if I told you that you could get cold hard cash from simply scanning these receipts and adding them to your digital wallet?
Now don’t go thinking that you’re going to get rich by scanning a few receipts cause this type of thinking is absurd and not at all possible.
However, it is possible to earn some pocket change from scanning these types of receipts and even more when you upload your receipts from things you have purchased online.
I’ll be going into more detail on this in a few minutes but right now I want to draw your attention to the idea behind this app and how this was all made possible.
Mind-Blowing Facts About Cash, Credit Cards, & Loose Change
After doing a fair amount of research on this app and learning the idea behind it I was able to discover where this app came from, where they got their funding and some insider info on this.
Do you guys currently watch the ABC show Shark Tank?
If you answered yes then you may recognize Jeffrey from the appearance he made on the show back in February 2018.
This is when he officially introduced this revolutionary app to the entire world.
After he officially got the funding he was in search of, this app went live for the first time on the Google Play store and Apple store shortly afterward.
As the episode of Shark Tank aired live on national TV, Jeffrey revealed quite a few mind-blowing facts about Americans spending habits and how much loose change they throw away each year.
Did you know that we throw away as much as $62 million in loose change each year without even realizing it?
I for one, have a jar in my bedroom that I throw all my loose change into and by the end of the week the jar is usually over halfway full or sometimes even more than that.
So, I know how fast this can add up but I had no idea it would add up to this much money within a year!!
Pretty crazy statistics if you ask me, wouldn’t you guys agree?
Also, as shocking as this may seem, there are still 89% of Americans that are using cash over credit cards in the year 2019.
Sounds kinda hard to believe, right?
What You’ll Need To Do To Get Started
Getting started is pretty straightforward and it will only require 2 things which you likely already have.
A smartphone device (Android or Apple) and a valid telephone number.
If you possess these 2 things then you’re good to go and you’ll be able to start earning money with the Coinout App.
Once you download the app and enter your phone number, you’ll be able to create your account and go through the verification process required to set everything up.
From there, you’ll be presented with a screen that looks similar to the one you see below
The top row represents the online merchants that are currently participating in their cashback program and the 2nd row is all the bonuses that are currently being offered at this time.
Interested in participating in their referral program and earning up to $1 for each person who downloads the app through your link?
Then you may want to click on the share and earn button for more details on this.
Do you see the big orange button at the bottom that says scan?
This is where you’ll go to scan those receipts you get from Mc’d’s Arbys, Taco Bell, & Starbucks to put some extra pocket change back in your wallet.
Based on my own experience scanning my receipts from local restaurants in my area, I found that Taco Bell & Starbucks are the highest paying receipts at this time (April 2019)
I was able to squeeze 25 cents out of one of my Taco Bell receipts and a whopping 61 cents from Starbucks.
The McD’s and Arbys receipts only gave me a few pennies each so they don’t pay anything thats worth your time in my honest opinion.
However, something is always better than nothing, right?
I’ll be updating this review from time to time when they change things around or add additional features to the app so make sure you check back here periodically.
Do we have a deal?
Information Required To Receive Cashback
For you to receive a cashback reward, there needs to be some kind of ground rules laid down and they are as follows.
- Receipts need to be within 2 weeks
- For online orders, you need to use a valid credit or debit card to receive cashback (No gift cards allowed)
- You must go through the link listed in the app before shopping at your favorite retailer
When scanning receipts they need to be clear and able to read them without any issues.
They also need to include the following information to qualify
- Date of transaction (Must be no older than 2 weeks old)
- Store Name
- Total bill amount
- Receipt line items with prices
Also, you aren’t allowed to upload a receipt more than once and by doing so you could have your account blocked.
You will also forfeit any cash back you may have earned so don’t risk it trying to game the system cause it’s not worth it.
Are there any receipts that don’t qualify to receive cashback?
Yes there are quite a few receipts that don’t qualify and they are as follows
- ATM receipts
- Lottery receipts
- Credit card slips
- Utility bill receipts
- Money order receipts
- Pictures of barcodes
You are currently limited as to how many receipts you can upload daily and this number changes daily so you’ll need to keep scanning until they cut you off for the day.
They are also accepting e-receipts as well (these are receipts that are sent to your email address.
You need to forward these types of receipts the same day of purchase to email@example.com
They are currently accepting up to 4 per day and you need to include the mobile number that you used when you registered your account.
How It Works
Depending on whether you plan to utilize the receipt scanning feature and keep it local, or if you’re more of an online shopper will determine how your experience will play out.
If you’re looking to stick to scanning receipts only then this is pretty straightforward and there isn’t a whole lot of effort involved in activating cashback.
Simply lay your receipts on a flat surface, hit the orange button at the bottom that says scan and line the receipt up to make sure it fits within the rectangular area.
When you’re ready to scan your first receipt hit the circle button to snap a picture of the receipt and upload it to their servers.
Upon completion, you’ll hear a cash register sound (Cha-Ching) which means your receipt was accepted and cashback has been added to your account.
If you’re the type of person who shops online frequently then why not put some of that hard earned money back in your wallet?
Scroll through the massive list of online retailers that are currently participating in online cashback and click on them in the app to be taken to the retailer where you’ll be making your purchase.
For best results, it’s recommended that you download the merchant’s app (ie: Walmart, Target, Amazon) before proceeding for the smoothest transaction.
Once you have completed your transaction you’ll receive a text msg informing you as too whether or not you’ve earned cashback.
All cashback transactions will be pending and funds won’t be released until these have cleared with the merchant.
What Merchants Do You Have To Pick From?
As I was scrolling through the list of merchants that are participating in their cashback feature, I found this to be quite overwhelming.
I’ll be listing all the merchants you’ll have to choose from as well as how much cashback is possible from each one below
Target (Category Specific)
Earn up to 2.7% with this retailer!!
You’ll be notified via text msg within 12 hours of purchase regarding how much cashback you have earned.
Here’s how much you can earn from each specific category below
- Apparel 2.7%
- Accessories 2.7%
- Home 2.7%
- Outdoor 2.7%
- Baby Gear 1.6%
- Furniture 1.6%
- Health 0.5%
- Beauty 0.5%
Earn up to 1.2% cashback on qualified purchases with this retailer.
No cash back on gift card purchases, groceries, beer, wine, or other excluded items.
You’ll be notified within 48 hours of purchase as to whether you earned cash back or not.
Earn up to 4% cashback shopping on eBay. As far as I can tell, this isn’t limited to any specific categories so you can actively earn 4% for anything you buy on eBay.
However, don’t quote me on this as I’m not 100% sure.
Their app doesn’t specifically name any certain categories and after doing some research of my own, I wasn’t able to find out anything about this.
With that being said, you’ll be notified within 48 hours if you earned any cashback with this online merchant.
Earn up to 3.7% cashback on movies, TV, and books as well as 1.3% cashback on iTunes music.
You’ll be notified within 48 hours of purchase as to how much cashback (if any) you have earned.
Earn up to 6.5% cashback into your wallet when shopping on Groupon!!
This is category-specific and includes the following categories only
- 6.5 % on Local
- 2.5% on Auto
- 3% on Baby
- 1.5% on Food
- 2.5% on Entertainment
- 2.5% on Fashion
Cashback is void if you use Groupon bucks, gift cards, or any type of discount as a form of payment when completing your order.
You’ll be notified within 4 hours if you earned any cashback.
More Merchants To Choose From
There are a plethora of other merchants for you to choose from and if I were to list all of them, I would be here from now until next Tuesday listing them all for you guys.
Instead of doing this I’ll be pointing out the most popular ones that you guys likely shop at and showing you how much cashback each one pays.
- Kohl’s 1.6% (notified within 12 hrs)
- Home Depot 4.3%( notified within 12 hours)
- GrubHub 1% ($2.70 as a new customer on 1st purchase) (Instant notification)
- Macy’s 1.8% (Notified within 7 business days)
- Sams Club 3.7% on new memberships & 2% on most categories) Instant notification)
- JCPenney 3.2%(12-hour notification)
- Gamestop 1.8% (notified within 24 hours)
- Hotels.com 2% (notified within minutes)
- SeatGeek 3% (Notified instantly after purchase)
- Enterprise rent a car (earn cashback & get notified within 12 hrs)
- Walgreens 2.6 on photos & 1.3 on contact lenses only (24 hr notification)
- New Balance 2.1% (notified within 24 hrs)
This is just a few of the many merchants that are participating in this cashback app and like I said earlier, as they update these merchants, I’ll also update this review for you guys as well.
Other Ways To Earn Money With CoinOut
If you’re looking for a few ways to capitalize on this opportunity and earn more than cashback then you might want to check out their referral program.
At this current time, they are actively paying $1 per referral and it seems like this keeps going up as time goes on.
When I joined back in July of last year they were only paying 50 a referral which I still thought was pretty sweet.
Nearly 9 months later and they’re paying double that with this number constantly on the rise.
There are no requirements that I know of that your referrals need to do for you to get paid.
They simply need to sign up using your referral link which you can access by clicking the share and earn button within the app.
Also, once you are actively using the app on a day to day basis you’ll start unlocking bonuses that you can also earn money from as well.
How Do You Get Paid?
For you to get paid, you’ll first need to make sure your profile is set up first.
Once you have done this, you’ll need to verify your phone number using a 6 digit PIN that will be sent to your phone via text msg.
After you have successfully verified your information you can proceed to cash out your earnings and I’ll be showing you all your available options to do so below.
There are 3 options available to you when you decide to cash out and get paid from this app and they are as follows.
- Gift cards- At this current time, Amazon is the only gift card available to you but as time goes on, I’m sure they will add many more.
- Bank Transfer- If you would rather take your earnings and have them deposited directly into your bank account then this option is available to you guys.
- PayPal- You also have the option to have your earnings sent directly to your PayPal account.
Personally, for me, I prefer PayPal as it’s the safest way to send and receive money online.
There are no minimum thresholds you’ll need to meet to request a payment via gift card or bank transfer.
However, if you go for the PayPal option, you’ll need to have earned at least $10 before cashing out and getting paid with this app.
If you choose the gift card option, it usually takes 24 to 48 hrs to process your request.
Once this has been processed, you should see the card show up in the inbox shortly afterward.
If you would rather have your earnings deposited into your bank account it takes 24 to 48 hrs to process this request.
It can then take up to 2 to 3 business days for this money to show up in your account but typically you’ll see this within 24 hrs.
Based on my own experience with cashing out to PayPal, it took 24 hrs the first time and 12 hrs the second time.
They tell you it could take up to 48 hrs, but this wasn’t the case for me.
Payment Proof That CoinOut Does Pay You
Everyone needs some type of payment proof when it comes to apps of this nature as I was pretty skeptical of this when I first downloaded it to my phone back in July.
However, as I continued to use it more and more and I learned more about it, I was able to start earning money with it in less than 60 days.
I have been able to cash out 3 times now with the payment I received just a few days ago as the most I have earned yet and it seems like the next payment is always bigger than the previous one.
Take a look at how much I have earned with this app from their referral program alone since I started promoting it late last year.
As you can see this equates to about $30 which isn’t bad for a review that I wrote months ago and am still earning money from as we speak.
I have only utilized 1 of the many ways that you could earn money from this app and if I were to utilize the other options I could double or triple the amounts you see in the screenshots above.
Once I completed the verification process and requested payment, it arrived in my PayPal 12 to 24 hrs later as I mentioned earlier.
My Closing Thoughts
If you’re the type of person who does a considerable amount of shopping either online or in brick & mortar stores then you should seriously consider downloading this app.
Seriously, what have you got to lose?
It’s free to download from either the Google Play or Apple store and you’ll save a ton of money on things you normally buy anyway.
What’s there not to love about that?
This is what I call free money as you wouldn’t have earned it without this app.
It’s not possible to earn any life-changing money with this app as this isn’t what it was intended for.
If you have come to this post thinking you could earn enough money to quit your job then I hate to be the bearer of bad news but this simply isn’t possible.
If scanning receipts aren’t your thing and you’re looking to earn more than cashback then you might want to consider affiliate marketing instead.
In addition to earning money with various cashback apps of this nature, I also utilize the affiliate marketing business model to build my business online and grow my income each month.
The place that has shown me how to make money with affiliate marketing is Wealthy Affiliate. It’s because of their amazing training & step by step lessons that I have been able to earn a full time living online.
I would highly recommend you check it out if you’re looking to earn enough money to quit your job and earn a living online.
Other than that, I hope this CoinOut app review has given you guys an inside look at what this app has to offer you and whether or not it’s worth your time or not.
Still, have questions? I would love to hear from you guys and clear up any confusion you may have surrounding this app in the comments below.
Until Next Time
Your Friend, Scott