If you’re looking to make money on your phone, one app you may have heard about is COIN app.
This passive income app lets you earn crypto rewards for exploring your area, answering surveys, and sharing your data. And you can cash in your earnings for popular cryptos or even physical rewards.
But is the COIN app legit? And how much money can you actually make with the app?
In this COIN app review, I’m sharing my personal experience with the app, how it all works, and if it’s worth using or not.
What Is The COIN App?
The COIN app is a geomining app where you can collect free digital coins and redeem them for actual real life rewards. The app offers numerous ways to earn COIN, the platform’s native cryptocurrency, including many passive income options.
Overall, COIN app is similar to apps like Sweatcoin that pay you with small amounts of cryptocurrency for sharing your location data and completing other short tasks.
The COIN app is also one of the more popular apps in this genre, with over 4 million members and a 4.5+ star rating on the Google and Apple app stores.
What Is COIN?
COIN is the native cryptocurrency of the COIN app. You earn COIN in the COIN app by having it run on your phone while you’re doing your normal, everyday activities. You can also earn COIN by completing different tasks.
You can then redeem your COIN for a variety of real-world and digital prizes. You also get 1,000 free COIN when you sign up with the app and create an account.
This crypto is really only popular within the COIN app, so it’s not like another Bitcoin or Ethereum. But if you’re willing to share and sell your data, you can accumulate COIN tokens and eventually cash out.
How Does Coin App Work?
When I first downloaded the COIN app, it was a little confusing. But it’s actually a pretty simple passive income app that has a variety of ways for you to earn crypto rewards without much effort.
1. Download & Sign Up
The COIN app is easy to use and was extremely easy to get started. It’s available for both iOs and Android devices and was set up in a few clicks.
Once you download it, you create an account with your email address and choose a username and password. The app also asks you to turn on your device’s location access for geomining, and you need to turn on location access to earn.
New users also get a 100 COIN sign up bonus.
2. Start Geomining
The main way to make money with the COIN app is to geomine. This process lets you earn small amounts of COIN as you explore areas in real life and then “mine” those areas within the in-app map.
In other words, as you explore your city, you can geomine the same locations in the COIN app. Every time you successfully geomine, you gain a fraction of COIN. You then complete a short mini-game to clear the area so you can geomine it again.
While I was out and about the app offered me various rewards based on where I was at. For example when I was near a grocery store, it offered me COIN to view an exclusive type of grocery item that is only sold at that store.
You don’t earn many points for geomining. I usually earn about 0.04 COIN for every successful mine. But as you explore more areas, you can geomine more and accelerate your earnings.
And sometimes, you get lucky and receive a geodrop from your mining efforts which can result in even more COIN rewards.
3. Try Other COIN Earning Methods
As mentioned, the main way to earn COIN is to geomine and explore your area. But there are plenty of other methods you can use to earn rewards like:
- Product Scans: Scan barcodes of in-store products to earn extra points, just like mystery shopping apps like Premise and Shopkick allow.
- Store Visits: You can also earn COIN by walking into specific stores the in-app map highlights.
- Rewarded Surveys: Answer short paid surveys the app prompts you to answer to earn more COIN.
- Sweepstakes: U.S. and UK players can join in-app sweepstakes for the chance to earn larger amounts of COIN.
- Team Lift: If you mine the same area with other app users, you can all earn extra points.
- HODL Rewards: COIN plans on releasing a feature where you can HODL and stake your crypto to earn passive rewards.
There are even more nuanced methods to earn bonus COIN, like finding larger geomines in your area or “geoclaiming” lucrative areas and mining them faster than other users.
Again, the app has a bit of a learning curve, but you can use these additional methods to earn more COIN while consistently geomining.
4. Use The SentinelX
One of the best ways to earn even more COIN rewards is to use “extensions” that pay you with bonus COIN whenever you geomine.
There are two extensions you can currently use:
- SentinelX BLE ($50): Earn 12x the geomining rewards by carrying this simple device on your keychain wherever you go.
- SentinelX NFC ($49): This card uses near-field-communication to provide a temporary 12x boost on your geomining rewards. All you have to do is tap the card to your phone while you’re geomining to get the temporary boost.
These Sentinel products are really for serious COIN app users who want to earn rewards as fast as possible. If you’re just testing out the app, it’s not worth spending money until you know if this app is for you and you enjoy using it.
5. Redeem COIN
You can’t redeem COIN you earn for PayPal money or direct deposit cash. Instead, you can convert your COIN into other cryptocurrencies or even physical rewards like:
- Apple products
- Gaming consoles
- Fitness watches
XYO is one of the main reasons this app is popular, and it’s the main cryptocurrency the COIN app promotes you to redeem.
However, the value of a COIN is extremely small, and it takes tens of thousands (or even hundreds of thousands) to redeem any rewards.
If you look in the screenshot above, you can see that 1 ETH currently costs about 3.7 million COIN!
It’s a similar story for physical merchandise rewards like Apple AirPods, iPads, and Nintendo Switches. These rewards cost hundreds of thousands of COIN to redeem as you can see in the screenshot below from my app.
While I haven’t earned enough COIN to cash in for a reward myself, there are some complaints from users on Reddit and other forums about redeeming their COIN for digital currency.
These users share dissatisfaction with the exchange rate and conversion fees that are currently being charged, making their reward rather low in value.
How Much Does The COIN App Pay?
I’ve been actively using this app for about a week now and while it does pay COIN regularly, the payments are very small. I’ve only earned about 500 COIN in one week, which includes 100 COIN just for signing up.
And since the lowest prize available costs 10,000 COIN, I still have a considerable amount of work to do before I qualify for a reward.
In short: The COIN app doesn’t pay very much per hour, and it will take weeks of grinding to get a reward unless you upgrade to a Sentinel device.
How Much Does COIN App Cost?
The COIN app is free to download and free to use on their basic plan. On this free COIN App plan, you can check out how it works, earn COIN and participate in various activities to earn even more.
However, you can also subscribe to different COIN plans to earn more geomining rewards, bonuses, and earning features you don’t get with the free plan.
Here are the two paid COIN subscriptions you can use:
- COIN Pro: Costs $34.95 per month and provides perks like 36x the geomining rewards, faster geomining recharging, and a geoclaim shield to help you earn even more.
- COIN Plus: Costs $24.95 per month and provides 24x geomining rewards and similar perks to COIN Pro, just toned down a bit.
If you want to try the paid COIN app plans without the commitment, watch your app. I was offered a 3 day free trial of one of the plans. It would be a good way to try it out without making a payment.
Other COIN App Reviews
One great way to tell if a reward app is worth it or not is to see what other users have to say as well. And, as usual, Reddit is a great resource here.
In this thread, here’s what some other COIN app users have to say about their experiences:
- Swim-Slow says: “It’s not worth buying the SentinelX or the subscription unless you’re a truck driver. You’ll be losing money every month.”
- xFUNKx707x says: “Personally I think the subscriptions are not worth the money unless you drive a lot! However just leaving it on at home and using the nfc card is worth it. Basic free plan and the one time payment of $12 for NFC card get you decent coin. 10,000 coin is about $5 give or take.”
- mbarrus73 says: “It’s turning out to be a waste of time. I just got up to 50,000 COIN and I went into redeem just to see what up. They take almost half of that in fees. I’ve actually put in a lot of time into this. I feel like an idiot. Too good to be true.”
- JeremyD130 says: “It might have been worth it but the markets changed, so now it’s not currently “worth” it. They’re going to need to adjust the fees and conversion rate to retain/grow the base.”
As you can see, gas fees and conversion rates are an issue, so you can actually get paid much less than you’d think after you redeem a reward.
And many users don’t think COIN is worth paying for unless you drive a lot for work and can explore enough areas to geomine.
This COIN app review from YouTuber Mike also provides a great overview of how the app works and the earning potential.
Mike actually got the SentinelX to test out the app, and he was able to earn thousands of COIN while testing the app. But again, you need a lot of COIN to redeem anything.
Is The COIN App Legit?
The COIN app is a legit passive income app that lets you earn crypto for geomining and sharing your location data. The app has over a 4.5 star rating on the app store, tens of thousands of ratings, and over 1 million downloads. There’s also payment proof online from users who have cashed out.
However, as mentioned, the main downside is that this app doesn’t pay much. This is especially true if you’re on the free plan and don’t travel much.
It can earn more for frequent drivers and if you use a SentinelX product. But don’t expect to make hundreds of dollars a month with this app.
Pros & Cons
As a new user checking the app out for the first time for this COIN App review, here is what I see as the pros & cons of COIN App.
- The app is very easy to use once you learn how geomining works
- Good for beginners to experiment
- Numerous ways to earn COIN
- An easy way to make money on autopilot
- You can’t redeem COIN for PayPal money or direct deposit cash
- It takes a lot of COIN to redeem any prizes
- Earnings on free plan are very low
- Require sharing personal location data
- Conversion rates and fees can reduce value of digital currency rewards
I hope our COIN review has helped explain just how this crypto app works, what the earning potential is, and if it’s worth using for you.
Again, if you use different driving apps or drive for work, you might be able to geomine enough to earn some decent rewards. And the fact you can redeem COIN for cryptos like BTC, ETH, and XYO is more exciting than your average beermoney app.
However, if you don’t travel much and stick with the free plan, you definitely won’t earn too much COIN.
If anything, you can test out the app like I did to see if you enjoy the earning options. I’m going to keep testing this app for a month or so to see how much COIN I can earn in that time.
Don’t expect to get rich with this app either way. But for some crypto fun, it could be worth trying out.
Thanks for reading! And if you’ve had an experience with COIN, I’d love to know below as well.
Looking for other ways to make extra money? Checkout:
COIN App Review
Description: COIN is a passive income app that lets you earn passive COIN crypto rewards for sharing your location data and geomining. The app is powered by XYO, another cryptocurrency.
Operating System: Android, iOS
Application Category: Passive Income Apps
Author: Tom Blake
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Tom is a full-time blogger and freelance writer with a passion for side hustling, passive income, and the gig economy. His work has appeared on dozens of personal finance websites like Money Crashers, The College Investor, Investor Junkie, and more. 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!
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