I’ve been feeling a passive income kick lately.
While a lot of these apps aren’t as lucrative as they used to be in the golden days, I still like the idea of turning your phone into a humble source of income.
After all, building different sources of income usually takes months or even years to see results.
So, today, we’re going to take a look at how I earned almost $100 from the CashMagnet app and how you can get started if you have an old Android phone laying around.
This is definitely one of the more finicky money-making apps around. However, it’s an easy way to score some free money each month without much effort.
Just be sure to read my CashMagnet review until the end to understand how to maximize your earnings and what not to do.
If you want to make even more money with your phone, you can also checkout:
- Mistplay – Earn free gift cards for playing mobile games. Read my Mistplay review to learn more!
- Mobile Performance Meter – Earn $50+ per year with this free data collection app.
- S`more App – Earn $0.10 per day just for unlocking your phone.
Let’s get to it!
CashMagnet App Review
Description: CashMagnet turns your phone into a passive income machine. The app pays you for letting your phone browse the web to collect points. Points are redeemable for PayPal cash and free gift cards.
Operating System: Android
Application Category: Reward Apps
Author: Tom Blake
Ease of Use
What Is CashMagnet?
Way back when, there were a bunch of websites that paid you for letting your computer automatically browse the web and for visiting specific websites.
These traffic generating websites are still around today, and the Cash Magnet app is basically an app for your phone that does exactly this.
Now, you might be wondering: why would anyone pay you to just browse the web when you’re not even there?
Well friends, the sad and secret truth is that a large percentage of internet traffic is made of bots, click farms, or just low quality traffic in general.
For a variety of reasons, this terrible traffic is sometimes useful.
Unethical digital marketers might want to beef up their click numbers without spending a fortune. Furthermore, digital marketing arbitrage, or taking advantage of cheap traffic sources to turn a profit on more expensive internet real estate, is a huge industry.
I actually worked at a digital marketing agency as a college side hustle and then for my full-time job, and let me tell you, there is some cheap and questionable traffic out there if you know where to look.
Long story short: CashMagnet turns your phone into a node in a traffic network, and you get paid a small percentage of your phone’s traffic value in exchange for running it.
The question is, how does making money with CashMagnet work if you’re completely new to this world?
How CashMagnet Works
The CashMagnet app is only available on Android devices, and you need version 4.4 or higher to smoothly run the app.
It’s also recommended to have at least 1GB of RAM and 8 GB of storage.
However, CashMagnet isn’t available on the Google Play store anymore, so there’s a few steps you need to follow.
1. Install The CashMagnet APK
Now, keep in mind that this is pretty sketchy and I don’t recommend doing this on your main phone.
The Google Play store isn’t perfect, but downloading files from third parties is a risk, and you never know if an app gets compromised or if a company decides to sell all your data one day.
In the world of beermoney, it’s a good idea to keep your personal life separate from your money-making experiments.
Once you install the APK, use your phone’s download manager to finish installing CashMagnet before opening the app.
2. Allow Permission
Once you open CashMagnet, the app will request permission to “draw over other apps.”
This simply allows an app to appear over top of other apps. This is a common permission setting for things like screen recorders.
CashMagnet needs this permission to track your phone’s usage so it can pay you. Again, this is a sketchy app, so don’t use it on your main phone.
3. Install Games To Level Up
CashMagnet is a fun source of passive income. However, you need to level up your CashMagnet account before you start making money.
CashMagnet doesn’t just make money by selling mobile traffic. In fact, the app requires you to download sponsored games to earn more passive run-time for your phone.
In a nutshell, the more sponsored games you download, the longer your phone is allowed to run in passive mode.
If you just install one game, you get about 75 minutes of passive run-time. It takes 3 installs to reach level 2, and progressively more games until you reach level 7.
The more games you install, the more you level up. Leveling up also makes you earn more points per hour.
By the time you install all your games and get to a high level, your phone can pretty much run 24/7.
4. Run & Earn
Once you install a few games, you can activate CashMagnet to start earning points (which can be redeemed for cash and other rewards).
The app might take a while, but if everything works, your phone will begin visiting various websites and watching advertisements until your passive run-time expires.
When 24 hours pass, you can start the process again. Points you accumulate appear in your CashMagnet account, and again, the higher your level, the more you earn per hour.
5. Redeem Rewards
Unlike many reward apps that pay cash, CashMagnet only has a $1 minimum to cash out.
Currently, you can redeem your points for:
- Amazon gift cards.
- PayPal cash.
You redeem rewards through Cash Magnet’s website, not the app.
Additionally, don’t be surprised if rewards take weeks to arrive. All of my PayPal redemption have taken multiple weeks or even months, but they all come in eventually.
Extra Reading – Lolli Review – Earn Free Bitcoin For Shopping Online.
While I never took CashMagnet too seriously during my phone farming days, this app has higher earning potential than most beermoney gigs.
If you take a look at the Reddit CashMagnet community, you’ll see plenty of serious farmers making some decent passive income per month:
So, how much can you make with this app?
Well, the first thing to note is that CashMagnet allows 4 phones per IP address (allegedly…more on this later).
But, if you reach level 5-7 on CashMagnet, your phone(s) can run for a long time.
Now, 10 points is worth $0.01, so it takes 1,000 points to redeem a $1 reward.
A high level phone can realistically earn $0.30 to $0.50 per day if you don’t encounter issues and have the phone run for the maximum amount of time.
Now, your location and other factors also influence how much money you make. This is because traffic from countries like the United States, Canada, and the UK is worth more than many other countries in the world.
According to CashMagnet, here are some factors that influence earnings:
- Your country.
- Android version.
- How many games you install and how long you run your phone.
- If you root your phone or not (this is complicated and basically lets you connect your phone to your computer to gain root access to the Android OS. Rooting for CashMagnet lets the app run more automatically and it’s great for serious farmers who also use things like VPNs or multiple Wifi networks to maximize earnings…don’t worry about it 😛 )
CashMagnet also caps run-time earnings at 500 points per phone per day…
So, this means 1 CashMagnet phone can earn $15 per month.
With 4 phones, you’re looking at $60 per month, or $720 per year if all goes well.
If you’re worried about electricity consumption, know that phones barely cost anything to keep charged.
Extra Reading – 14 Android Apps That Pay You Money.
Frequently Asked Questions
Alright, since this app is so finicky and weird, there’s plenty of common questions people have.
If you’re on the fence about the CashMagnet App, hopefully these answers help clarify a few things.
1. How Do People Run Farms If There’s A 4 Phone Limit?
Prepare to go down the beermoney rabbit hole and checkout this 52 phone CashMagnet farm:
In this thread, the farm owner explains how he earns $25-$30 per day from his operation, as well as how he bypasses device limits.
See, while CashMagnet’s FAQ states you can only run 4 phones, according to this user, you’re allowed 24 per account.
Since this farmer has multiple IP addresses for his house (serious farmers commonly do this), he’s able to run 52 phones simultaneously.
2. Why Do My Levels Reset?
There’s an unfortunate bug that resets your devices to level 1 on rare occasions.
Additionally, if you uninstall games, your level decreases accordingly.
The bottom line is, this app is glitchy, and it will take some monitoring to keep your passive income machine running smoothly.
3. Do I Have To Root My Phones?
According to CashMagnet: “It is better to have rooted phone only because this allows us to automate some actions without the need for the user to do extra work (like manually install games, make clicks, etc). You can have non-rooted phone, though this will earn you slightly less points. Other than that, there is no limitations on non-rooted phones.”
4. What’s The CashMagnet Referral Program?
If you refer a friend, you earn 5% of their earnings.
You also earn 5% of earnings your referral ends up referring, so it’s a 2-tiered system.
The referral program is how I’ve made a decent chunk of my earnings, and it’s also a strong indicator that people are making money with this app (otherwise I’d have no referral earnings).
5. What Countries Does CashMagnet Work In?
There isn’t a running list of countries for this app unfortunately.
Basically, you can run this app anywhere…earning money is another question entirely.
I’ve seen plenty of posts from people in North America and Europe who run this app with success. Just keep in mind, your country has a massive influence on how much you earn.
You can use a VPN, but you earn 50% of the points you would normally.
Extra Reading – How To Make Money Selling Internet Bandwidth.
Is CashMagnet Legit?
If I had to sum up this CashMagnet review, I’d say that this app is somewhat legit.
I mean, it’s legit in the sense that you can install the app and get paid without doing anything…I’ve never had a problem with payments, and there’s a pretty happy Reddit community behind the app.
But, let’s face the facts: there’s a reason this app was taken down from the Google Play store.
It’s a sketchy industry, and I would never recommend running this app on your primary phone.
Some farmers are making great passive income each month with this app and others. However, for most people, I think it’s a solid $100-$200 per year or so if you have some old Android phones and take time to level your phones.
If you have less time for monitoring or encounter bugs, it’s more like $50 to $100.
Don’t expect more than that, and again, please don’t use your regular phone!
Final Thoughts + My Current Passive Income Setup
I hope this CashMagnet app review has helped clarify a few things about this hilariously odd beermoney app.
As I said, don’t expect to get rich. However, if you’re looking to dabble in this niche money-making industry, I think the app is worth considering.
Currently, here’s the setup I’m running:
- CashMagnet, Mobile Performance Meter, and Panel App on an old Android device.
- UpVoice on my laptop. This is an easy $75 per year in free gift cards.
- The Rakuten and Honey shopping browser extension to automatically earn cashback rewards.
Unfortunately, other apps like S`mores and MobileXpression have either stopped working or simply don’t work now that I’m back in Canada.
I might have left my phone farming days behind me in college, but I think I’ll always have a soft spot for these sorts of apps.
Ultimately, as long as you have realistic expectations, I firmly believe you can make some decent side cash just for installing a few apps and tinkering around.
If you want more serious ideas to increase your income, I suggest reading my post on the best gig economy apps.
Catch you guys in the next one!
Tom is a 23 year old recent college graduate from Canada with a passion for side hustling, passive income, and marketing. This Online World is all about providing people with honest ways to make and save more money by using technology. To learn more about Tom, read his About Page!
If you’re interested in freelance writing services or want to partner with This Online World, please visit Tom Blake Digital to get in touch!