How Much Can You Earn With The Cashmagnet App?

Cashmagnet App Review

Thanks for joining us for our review of The Cashmagnet App.

We will be finding out today whether this platform can be trusted, and if the App is worth running on your smartphone.

Cashmagnet is an Android application says it will pay its members a passive income. It is a passive income because it is designed to pay you for just for running the app on your phone.

The Cashmagnet app says it offers you an opportunity to make money without performing any specific tasks.

How The Cashmagnet App Works

The Cashmagnet app is designed using a script that runs in the background when you are not using your phone.

The script automatically searches for ads and installs games on your phone, subsequently generating traffic for advertisers.

You do not have to view these ads or play these games to earn. The app performs all these actions on its own while awarding you with redeemable points every 5 minutes, so long as the program is running on your Android device.



How Much Can You Earn With The Cashmagnet App?

The maximum amount of money that you can earn in a day depends on a wide range of factors, which include location, type of phone used, number of games installed and the duration the app is allowed to run on your phone.

It also seems that users from countries such as the USA, UK, and Canada tend to earn more points faster than subscribers from other countries.

Nevertheless, the maximum number of points one can earn in a day is capped at 500 points per device, which translates to $0.50 cents. You can however use up to 4 phones per IP address if you wish.

This means that you should expect not more than $15 in a month for each phone.

In addition, members are categorized in different levels, which determine their earnings (level 1 is the lowest while level 6 is the highest).

To climb to a higher level, you must allow the app to install as many games as possible. From level 3, members are able to install apps and games on their own.

How To Increase Your Earnings

Like other smartphone apps, the Cashmagnet app runs a two-level refer-a-friend program that offers you an opportunity to increase your earnings.

You will earn 5% of your referrals earnings and 5% of your level two referrals’ earnings.

You may also increase your earnings by installing and running the app in up to 4 unique devices, simultaneously, without any restrictions. However, your maximum earnings per device per day will remain 500 points.



Payouts

The Cashmagnet app has one of the lowest payout thresholds of only 1000 points ($1). The fact that you can earn a maximum of $0.50 per day means that you can cash out after a minimum of 2 days.

Payment options include PayPal cash or gift cards from popular brands such as Amazon, iTunes, Google Play, Xbox and PlayStation.

So what are some of the advantages and disadvantages of using this app?

The Pros

• It offers an easy way of earning money

• It has a low payout threshold

• Can be installed on multiple devices for increased earnings

• Multiple payment options

• It has a two-level refer-a-friend program

The Cons

  • Rewards are capped at approx 500 points per day (per device)
  • Low-income potential
  • The app has a lot of bugs; this affects its operation.
  • It is available for Android devices only
  • Payments take 30 days after you have requested them.

 

Some Final Thoughts

In this era of online fraud and identity theft, apps that promise to pay you money for just accessing your phone may leave you wondering if it is a risk worth taking. It’s a genuine concern for most people.

You may consider that the app at the very least ought to have rewards for its members given that Cashmagnet requires root access to your phone.

Despite all the suspicions and concerns these issues raise for some, the Cashmagnet App is a legitimate app, with good ratings on Google Play.

The app makes money by automatically installing sponsored games and running adverts on the background when you are not using your phone. In turn, you will get paid just for allowing the app to run on your phone.

Putting all these factors into consideration, you may feel that the Cashmagnet app is worth a shot.

Cahmagnet App star rating 3/5-An app that allows you to earn a passive income. It is a low Income, but quick payments and an easy way to earn.

3 Star Rating

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2 thoughts on “How Much Can You Earn With The Cashmagnet App?”

  1. So much misinformation about cashmagnet. You’re just wrong about so much. The $1 redemption is a one time deal, and that’s the only time you’ll receive it in 48 hours. After that, the minimum is $5, and they pay once a month. Also, the redemption options are Paypal or Amazon only. I make $30 each month, so you’re also wrong about capping at 50 cents a day. You should learn about something before writing a review.

    1. Hi Dawn,
      Thanks for checking out our review, it’s always great to hear from real users of the platforms we review.
      We do check our facts when writing our reviews but of course mistakes can happen. We have re-visited some of the points you raised…

      The FAQ Page on the Cashmagnet website does state that rewards can be redeemed by either PayPal cash, Amazon, iTunes, Google Play, Playstation and Steam Gift Cards.
      Our understanding is that if you redeem by PayPal you only need $1 in your account, but if you wish to redeem with gift cards it is $5.

      As regards the maximum earnings per day, you can only earn a maximum of $0.50 on one device. The FAQ page states that their top earners make $15 per month per device. I’m guessing that you use more than one device to access CashMagnet? (Max of 4 per IP address)

      We have however amended our review to reflect what you confirmed regarding payments, which you quite rightly say are only made monthly. We hadn’t realised that the 48 hour payment is just a one off thing….so we really appreciate you pointing that out.

      Thanks again Dawn for sharing your experience with CashMagnet. We always try to provide accurate information but on occasion mistakes will happen, and we do apologise.

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