Coinout app is a receipt scanning app, which lets you earn money on each receipt you take a picture of. Easy quick money is great.
COINOUT APP - WHERE EVERY RECEIPT COUNTS
Updated March 3, 2020
Coinout fits into the cash back app category and more specifically the cash back from receipts. The main way to earn cash back is through uploading your receipts, Coinout also partners with select stores to provide cash back for online transactions as well. Cointout was featured on the t.v. show Shark Tank, which adds a little extra intrigue to the app.
What we'll cover:
Coinout does not score very highly in the earnings or speed criteria’s. However Coinout is super easy and should be in everyone’s cash back app portfolio purely on the basis that you get money just for taking pictures of your receipts.
WHAT IS COINOUT?
Coinout is an app that pays you for your receipt information. Each receipt that you upload to Coinout, you will receive cash back for. The cash back payment is typically within $0.01 – $0.30 per receipt. That may not seem like very much, but think about how many receipts you get in a week?
Coinout is also different from some of the other cash back receipt apps because Coinout accepts receipts from all stores. The store category can be grocery, movie, gas, sporting goods and so on.
While the main method for earning with Coinout is through scanning your receipts, there is also the potential to earn by shopping through Coinout. Coinout has partnered with select stores to offer a percent back from your purchase. Some of these stores include EBAY, Walmart (online), Hotels.com, Home Depot, Groupon and many more. Coinout store offerings are not as expansive as apps like Rakuten and Dosh, but there is a good selection at pretty competitive cash back rates.
HOW TO USE COINOUT?
Step 1 - Scan the receipt
The first step is to gather your receipt or receipts and scan in each receipt into Coinout. You will want to put the receipt on a level surface in an area with good lighting (photo quality can impact the amount of cash back). To scan the receipt, hit the orange "SCAN" button on the homepage.
Step 2 - Submit the receipt
After you have scanned the receipt or taken the picture of the receipt, you have the opportunity to preview the output before submitting the receipt. If you are not satisfied with the quality of the picture you can hit "RETAKE" to attempt scanning the receipt again. If the picture quality is good, hit the "SUBMIT" button at the bottom right of the screen.
Step 3 - Receive the cash back
Once you have submitted the receipt, very shortly after there will be a pop-up box that appears. This box will tell how much cash back you earned from the receipt. This amount will automatically added to your Coinout balance.
On-line cash back
To receive cash back from an online purchase, you hit the "All Stores" button on the homepage (see picture in Step 1). This will bring you to a page where you can see all the stores that Coinout offers online cash back for. Hit the "Shop Now" button and you will be redirected to that companies site or app. Complete your purchase in that shopping session and you will receive your cash back shortly after.
HOW DO I GET PAID?
Users of Coinout will receive cash back for each receipt that is submitted or cash back from online purchases that Coinout partners with. The cash back will be deposited into your Coinout balance.
You may be wondering if some receipts are worth more than others or why you get different amounts for receipts from the same store? This excerpt taken from the Coinout, “How it Works” section, gives some insight on how the cash back amounts are determined.
“We set a range each day of a minimum and maximum amount you can earn from a receipt. The amount you receive is randomized and is not based on the type of receipt or amount spent.”
Balances can be redeemed for cash (through PayPal or bank account) and gift cards. The minimum balance needed in order to withdraw is $10.
PROS & CONS
TIPS & ADVICE
To make your receipts feel more valuable, utilize all the receipt cash back apps. We typically upload our receipts one or two times a week to these apps: Coinout, ReceiptPal, Fetch Rewards, Ibotta and ReceiptHog. All these apps can earn you extra money from your receipts and by using all them it makes it a little more worth it to take the time to save and upload your receipts.
IS COINOUT LEGIT?
Yes, Coinout is legit. Coinout has a little more clout and visibility than other apps due to the fact Coinout was on an episode of the t.v. series “Shark Tank”. But, if your still a little weary see below for payment proof through PayPal.
IS COINOUT WORTH IT?
Coinout will never be the app that earn the most money from, but what it lacks in earnings it makes up in convenience. All you need to do is take a picture of your receipt and you get cash back. There is also something rewarding for getting paid for a receipt. Coinout is real and it is possible to grow your balance over time. If you are in it for the long game, you will be successful and those small earnings will grow over time.