Thanks for joining me for my review of The Cashmagnet App.
The Cashmagnet App is designed so it rewards its members with a passive income.
A passive income of course is an income you can earn without actually doing anything. The developers of this app say you will get paid for just running the app on your phone.
The Cashmagnet app says it offers you an opportunity to make money without performing any specific tasks.
Before we find out how much you could potentially earn using this app, let’s find out how things work.
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 app is available to Android phone users only (4.2 version and later). The developers also state that you have 1GB of RAM memory and 8 GB of storage.
You can’t locate the app at Google Play however, you will need to go to the Cashmagnet website and download it there.
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 With Cashmagnet
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.
Pay Outs At Cashmagnet
The Cashmagnet app has one of the lowest pay out 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 Of The Cashmagnet App
• 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 Of The Cashmagnet App
- 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.
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