CashMagnet Review w/ Referral Code: This App Pays You For Doing Nothing?
The thought is tempting, isn't it?
I know it is not ethical but it's free and effortless. And who doesn't love free money no matter how little it is. We do look for discount coupons and cashback offers to save a little don't we?
CashMagnet isn't exactly an automated bot that you can use to view ads on PTC sites rather it works on its own. Meaning it surfs ads and sites of its sponsors and shares revenue with you.
So is this the dream app you’ve been was looking for or just another painful hoax? Read on to find out.
For a quick review watch the video below:
Read:
Getting Started with CashMagnet:
The sign-up process is plain, simple and quick. You can get your new CashMagnet account in a few seconds.1. Download the app from Play Store. The app is compatible with most of the devices and requires a minimum of 4.4 Android.
2. Open the app and tap on “SIGN UP”
3. You also have the option to sign in with your Google account.
4. After sign up, you can log in right away no need to verify your email address.
Before you can go on and start generating ‘passive income’ as they call it, you are required to agree to their terms which pretty much also explains how the app earns money for you while you are not using your phone.
Agree to the terms.
Now you’ll be asked to enter a referrer code. Enter this referral code and get a bonus of 10 Points-
How Does cashMagnet Work?
Like the app promises, you don’t have to complete any tasks to earn with CashMagnet. To be more precise you are not required to do anything at all after you have hit the Start button.After registration when you open the app it’ll take some time to load the sponsored content. About 2-3 minutes.
After the loading is complete. You need to grant “drawing over other apps” permission. This permission allows the app to display on top of other apps.
Now when the app is working you won’t be able to use your phone unless you stop the app.
Once you hit the “Start” button CashMagnet will launch its internal browser and start viewing sponsored contents.
You won't be able to use your phone except for the notification bar. So you can still chat: that is, without reading complete texts.
If you touch here and there and scroll yourself the will stop running and you’ll have to start it again.
You will earn points every 5 minutes that the app is running.
To stop the CashMagnet tap stop button from the notification panel.
There is a limit of time up to which you can continue surfing. This limit depends on your country, whether your phone is rooted or not, etc.
Users from top-tier countries(USA, UK, CANADA) can keep the CashMagnet app running for 24/7 but users from other countries have limited time. For example, users from India can only run the app for 1-2 hours a day.
But you can earn more by using multiple devices.
How many phones I can run?
You can have as many phones on your account as you would like, but the limit at the moment is 4 phones running simultaneously per IP address and no more than 4 unique devices per day. For example, if you have 2 Wi-FI spots with different IPs then you can have 8 phones running at the same time… and so on. We have plans to remove the limit for rooted devices, but this involves a serious programming and technical solutions that will take some time to implement. This won’t happen earlier than Aug - Sep if all goes smooth. Until then we have to keep the current limit of 4 phones per IP address and no more than 4 unique devices a day. You can use the same login information on all your phones. Just make sure you only have a maximum of 4 phones per IP address.
Is it necessary to have a rooted phone?
It is better to have a 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 a non-rooted phone, though this will earn you slightly less points. Other than that, there are no limitations on non-rooted phones.
Levels:
CashMagnet assigns levels according to your activity.You will begin at level 1.
As you might have guessed to reach higher levels you need to complete certain tasks.
For level two you need to reach level 2 you need to install at least 3 games.
Games:
In this section, you can earn points by downloading sponsored games.Earn more:
In this tab, you can earn more points by completing offers from offer walls like fyber, adscend media, Pollfish and moreCashMagnet Referral Program:
Cashmagnet has a two-level referral system.You will receive 5% of what your referrals earn and 5% of earnings of their referrals.
You can get sign up bonus of 10 points by entering this referral code: Id0iek
Payment Methods & Minimum Payout:
The minimum payout at CashMagnet is $1 Amazon gift card.You can also redeem your coins for PayPal cash but they also charge some fee for PayPal withdrawals.
You also have the option to exchange your points for Bitcoin and Ethereum.
Is it legit?
Yes, CashMagnet is 100% legit.The only complaint they have regarding payments is that it takes too long.
Sometimes even a month as a user pointed out on the Play Store.
You can be sure that you will get your reward.
When?
That's the question not even the CashMagnet developers can answer.
The reason for the delayed payment, according to the developers, is that they get money from sponsors around 1 - 5 month later and the users of the app are growing rapidly.
Final Words:
While the app does sound like a dream come true- An app making money for you- it's not that fruitful. You'll only earn 1 point per 5 minutes that the app surfs and views ads. And as there is a time limit for countries other than top-tier countries users from these countries will have limited earning opportunities.Sure you can earn more by completing offers and downloading games. But they don’t make much of a difference.
What should you do then?
Use the app on Emulator like Nox or Bluestack.
An emulator is a software application that lets you use Android apps on PC.
This way you wouldn't have to worry about your data being stolen either.
You can just open the emulator and run the CashMagnet app while you are doing other things on your PC.
For example, while I'm writing this review the app is running in the background.
The emulator that I use is Bluestacks.
Don't worry if your computer doesn't boast high specifications. You can adjust the RAM to 600-700MB and the app will work just fine.
Try CashMagnet.
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