đź’ˇ Introduction
Looking to earn some extra cash without taking on a second job? Apps like CoinOut promise just that. CoinOut lets you scan receipts from your everyday purchases in exchange for small cash rewards. It’s a simple and passive way to make use of what you’re already doing—shopping.
But is it actually worth your time? Can you make real money using CoinOut, or is it just another low-payout gimmick? In this blog post, we’ll explore the pros and cons of CoinOut as a side hustle so you can decide if it’s right for you.
🧾 What Is CoinOut?
CoinOut is a free app available on iOS and Android that pays users for uploading receipts. Originally featured on Shark Tank, the app has grown in popularity due to its simplicity and wide acceptance of receipt types.
You can earn rewards by:
- Scanning paper receipts from almost any store
- Linking your email for online receipts
- Connecting retail loyalty accounts (like Amazon and Walmart)
- Participating in bonus games and daily sweepstakes
You can redeem your rewards via PayPal, Zelle, or Amazon gift cards once you reach the payout threshold.
âś… Pros of Using CoinOut
1. Extremely Easy to Use
The app’s user interface is straightforward. Simply open the app, snap a photo of your receipt, and get rewarded. There’s no need to manually input purchase details or barcode info.
2. Accepts Nearly All Receipts
Unlike some receipt apps that limit eligible stores, CoinOut accepts almost any retailer—from big-box stores and gas stations to local mom-and-pop shops. This makes it incredibly versatile.
3. Passive and Non-Time-Consuming
It takes less than 10 seconds to scan a receipt. You don’t need to answer surveys or watch ads to earn (though those are optional). It’s a great add-on to your daily routine.
4. Multiple Cash-Out Options
CoinOut supports multiple payout options including PayPal, Zelle, and Amazon gift cards. This flexibility makes it easy to use your earnings in whatever way suits you best.
5. Low Payout Threshold
Unlike some apps that make you wait until you’ve earned $25 or more, CoinOut lets you cash out as soon as you reach $3, making it feel more rewarding early on.
❌ Cons of Using CoinOut
1. Very Low Earnings
Let’s be real—you won’t get rich with CoinOut. Most receipts earn between $0.01 and $0.05. Even if you scan receipts daily, you’re looking at maybe $2–$3 per month unless you engage with bonus features.
2. Daily Receipt Limit
There’s a cap on how many receipts you can scan per day. If you’re someone who shops a lot or collects receipts from others, this can slow your earnings.
3. Limited Bonus Opportunities
While the app does offer games and promotions, they aren’t always active or available to everyone. This limits your ability to boost your rewards beyond basic scanning.
4. Potential Privacy Concerns
In order to function, CoinOut collects purchase data from your receipts and, if connected, your email and retail accounts. While the company claims your data is used for market research, it’s still a tradeoff in privacy.
5. Inconsistent User Support
Some users have reported issues with customer support and delayed payouts. While these experiences vary, it’s something to keep in mind when using the app regularly.
🧠Who Should Use CoinOut?
CoinOut is best suited for:
- People who want to earn passively without investing time or money
- Budgeters and couponers who already save receipts
- Students or stay-at-home parents looking for small extra income
- Users who are already using similar apps and want to stack rewards
It’s not ideal for anyone looking for substantial earnings or those concerned about data privacy.
đź“ť Final Verdict: Is CoinOut Worth It?
CoinOut is a legit, low-effort way to earn a few bucks a month. If you’re looking to maximize every dollar, it can be a nice addition to your lineup of rewards apps. But it’s not a side hustle that will generate meaningful income on its own.
If you’re consistent and don’t mind scanning your receipts every day, it’s a no-brainer. You’re literally getting paid for something you might otherwise throw away. Just set realistic expectations—and maybe pair it with other apps like Fetch Rewards, Receipt Hog, or Ibotta to make your effort more worthwhile.