Lots of people nowadays want to get into and own cryptocurrencies.
If that sounds like you, but you don’t want to take any financial risks, this Coinloot App review will interest you.
That’s because Coinloot is designed to reward its members with free cryptocurrency in exchange for their participation in completing small tasks via their platform.
However, is Coinloot a better option than other websites and apps offering the same opportunities?
This is what I will be helping you decide as I uncover what people really think about the platform, and weigh up the pros and cons.
First however let’s get started by looking at how The Coinloot App works
How The Coinloot App Works
The Coinloot App is a free app that you can use to earn rewards online.
It works by members getting points for completing quick tasks on the site. For example, you can play games on the app and earn points.
The developers are based in Switzerland and you can download the Coinloot App from anywhere in the world.
When you earn points, you can redeem these for real money no matter what country you’re in. Your earnings will be transferred to you via digital means.
You can also complete offers to receive points. For example, you can download applications and use them for a specific time.
Your use of these apps will be monitored in order to provide developers with feedback.
By making their apps available to you in this way, developers also hope that their products will reach a wider market. In exchange for your time and participation you are given points for trying out their products.
Later in this Coinloot App review, you’ll learn more about earning cryptocurrency on this app.
If you know a lot of people who want to earn crypto and are looking for ways to do that while they’re on the go, you can introduce them to the app.
They’ll get a bonus which is equivalent to a small amount of crypto once they sign
up. You’ll also be able to earn a bonus by doing so.
How To Earn On The Coinloot App
You can earn on the Coinloot App in several ways.
Surveys are available through this app. They’re provided by reputable companies such as PollFish, which seek respondents from countries around the world.
Others complete offers in order to gain coins.
You’ll find offers from reputable providers like AdGate Media. The offers are presented in what is known as an offer wall, which consists of different types of tasks.
For example, you’ll find surveys that you can do to earn points. These surveys are from third parties. These third parties would like to boost interest in their products.
The description of what you’ll have to do is always provided so you can decide whether the offer is right for you.
For example, if you have to install an app on your device and give its developers permission to access your data, you’ll be told that ahead of time.
Some offers have a higher return than others. However, those usually require a small initial investment on your part.
That investment will be repaid after the work that you’ve done on the offer is approved by the advertiser.
In some cases you may not have to make an investment but you will still need a credit card to use the participate during a trial period.
Ensure that you read and follow the directions that are given in the description of each offer. You’ll have to follow them in detail in order to receive your points.
For example, if you’re required to visit a site and then stay on it for 30 seconds, you won’t be credited if you visit the site but you don’t remain on it for that time.
Sometimes the parties that place the offer on the app do not add the credits after you have completed the task.
In this case you’ll need to submit a Missing Points or Missing Credits request. That should prompt them to pay you the credits. However, there are cases in which these parties take months to respond.
You’ll also find games that you can play to earn points. You can even answer quizzes to earn points and this is usually a fun way to spend a few minutes.
- Referring Others
You can also earn by referring friends to this app. You might know a lot of people who want to try trading cryptos but they’re not willing to risk their own cash.
You can introduce them to the app. It’s free and when they sign up, they’ll get a bonus of 150 points.
Although they can’t withdraw that bonus immediately, it gives them a good head start to earning more crypto and reaching the minimum for payout.
You’ll also get 10% of whatever your referrals earn from their offers
How To Withdraw From The Coinloot App
To withdrawal your rewards from the Coinloot App, you’ll need to have at least 1,000 points in your account.
That’s equal to $1 and this can be transferred to your crypto account within 24 hours in most cases.
To request a transfer of your rewards to your cryptocurrency wallet, you’ll need to click on the Shop icon that’s located in the lower left corner of your home screen.
That will take you to a page where you can choose your reward and indicate the amount that you wish to withdraw.
Space is also provided on the payment page for the email address of your cryptocurrency wallet.
After confirming your crypto wallet’s email address, click on the green Request Payout button.
Bitcoin is a popular option but you can also withdraw your earnings as other cryptos such as Litecoin.
In all, there are five cryptocurrencies that you can request on the Coinloot App. The other three are Dogecoin, Dash and Ethereum.
The Coinloot App focuses on Bitcoin and altcoins. You won’t be able to transfer your earnings to a US dollar account directly, however once you have crypto in your wallet, you can change it to a fiat currency via an exchange.
You can also spend your crypto earnings directly as crypto without converting them to a fiat currency.
One of the main advantages of the Coinloot App is the absence of high fees that would dramatically reduce your earnings.
You aren’t charged any gas fees, so you keep more of your cryptocurrency.
What Real Users Are Saying About The Coinloot App
The Coinloot App usually has enough tasks on it to provide members with a way to earn extra money whenever they need it.
Members report that they use it as a reliable means of earning a few extra dollars
every now and then. They just change their crypto to dollars via an exchange.
Members usually appreciate the speed with which their payment requests are processed on this app.
Some even check to see whether they can receive multiple payments in a day. So, their request more than one payment in a single day and have those processed promptly.
There are lots of Get Paid To (GPT) apps like Coinloot that provide third-party offers and the App has this earning option available as well.
However, some members have complained that their offers aren’t being approved in a timely manner.
Some members aren’t able to access their balance due to their accounts being suspended. Others say that there aren’t enough surveys on the app.
They think that increasing the number of surveys posted would help them to reach payout more often.
Similarly, other users who are happy about earning with the existing options also want more alternatives added. They’ve suggested video ads and games.
Have you tried The Coinloot App? If so and you want to share your experience please leave a comment in the comments section below.
What Are The Pros Of The Coinloot App
- Coinloot App members say that the team is responsive and any issues that they have are addressed quickly.
- You can choose from several different types of crypto on this app. The most popular option, which is Bitcoin is available. However, you can also choose Litecoin and other alternatives which may seem more profitable to you at a
particular point in time. The variety of cryptos offered makes it easy to reduce the risk that’s involved in maintaining crypto assets.
- Payouts are usually processed very quickly on this app. Most members report that they receive their rewards within 24 hours. In fact, crypto transfers usually reach your wallet in minutes.
- You aren’t charged gas fees on this app. Gas fees are fees that apply to transactions on the Ethereum blockchain and they can be really high. So, on this app you’ll keep more of your money.
What Are The Cons Of The Coinloot App?
- Some of the third party offers can take a long time to be approved by the advertiser. That means you may not receive your credits until months later. You’ll have to invest a little of your own money with some of the offers. That means you’ll also need a credit card to benefit from those. You can however choose not to do those offers.
Some Final Thoughts On The Coinloot App
In this Coinloot App review you’ve learned how you could earn Bitcoin for free.
You’ve also learned about the experiences that other members are having with the app.
The Coinloot App is helpful for people who want to earn a few extra dollars every now and then.
It’s also helpful for people who want to start learning how to trade cryptocurrencies but they don’t want to invest any fiat currency of their own.
The major problem on this app however seems to be with third-party sites that provide offers but don’t pay the participants in a timely manner.
If you’re going to try any of those offers, you should take precautions so that your cash doesn’t get tied up.
Otherwise, this app can be helpful if you want to earn extra cash.
Star Rating 2.5/5-An app that enables its members to earn various cryptocurrencies simply by carrying out small tasks. The platform isn’t without its complaints, however it has a very low cash out so you could earn small amounts of cryptocurrency quickly.
Thanks for checking out my review of The Coinloot platform. I hope you found it interesting and will help you make a more informed decision about whether the platform will benefit you personally.
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