Disclosure: I may earn a commission if you use links in this post at no extra cost to you.
Introduction
CoinOut became famous on Shark Tank for its unique promise: earn cash by uploading any receipt. Unlike Ibotta or Fetch at the time, it doesn’t matter if it’s from Walmart, a gas station, or your local dollar store, CoinOut accepts them all.
That sounded promising, so I gave CoinOut a fair test. After 4 weeks of daily use, linking Amazon and Walmart accounts, and experimenting with the “Plays” and game offers, here’s the truth: CoinOut is legit, but it’s painfully slow.
How CoinOut Works
- Receipts: Upload up to 25 receipts a week and earn coins.
- Linked Accounts: I connected Amazon and Walmart so my e-receipts automatically count.
- Plays (CoinFrenzy): Spins on a roulette wheel for bonus coins. I got 20 coins from 8 spins, which was fun, but tiny payouts.
- Game Offers: Download games and complete levels for bonus coins. However, my rewards were minimal.
- Levels & Rewards: Rewards vary depending on your account level (I’m currently Gold).
My Earnings After 4 Weeks
- Total coins earned: 3,210 coins (screenshots below were taken at a later date, and show around 300 more).
- Time spent: 1 month, mostly passive scanning, some gaming.
- Real value: Since 1,000 coins = $1, that means I’ve made $3.21 in a month.
- Cash-out thresholds:
- 3,000 coins = $3 (Amazon gift card).
- 5,000 coins = $5 (Venmo, Amazon, or a gift card of your choice).
- 24,000 coins = $25 (PayPal, Venmo, Amazon, or gift card).
- 47,000 coins = $50 (PayPal, Venmo, Amazon, or gift card).
At my current pace, it would take well over a month to hit a $5 cash-out. I did hit the $3 minimum cash-out. They paid me surprisingly within an hour.
My Experience With CoinOut Games
To test the “offers” side, I tried one game under a 2-day promotion that doubled coin rewards.
- Earned 604 coins in about 20 minutes.
- Required me to record my screen while playing.
- Annoyingly, I had to watch ads just to keep playing.
- Long-term, the math is ugly: 1,000 game levels =7,568 coins = under $10.
It’s technically faster than scanning receipts, but it feels like a time sink. I was forced to watch 30 second ads between each level when I got further.
Here’s some screenshots of what the app looks like below.
Pros and Cons of CoinOut
Pros:
- Accepts any receipt (very flexible).
- Very low minimum cash-out ($3).
- Linking Amazon/Walmart is seamless.
- “Plays” and promotions add variety.
Cons:
- Earnings are extremely slow (4 weeks, for $3).
- Game rewards are very low without promotions.
- Watching ads is required for gameplay.
- Requires screen recording for app offers.
- Limited cash-out options unless you save thousands of coins.
Is CoinOut Legit?
Yes, it’s legit and does pay. But don’t expect more than pocket change. CoinOut is best used passively to scan receipts, grab the occasional “Play,” maybe link your accounts, and let coins build slowly.
It’s not a side hustle like Respondent, or a survey app like TopSurveys, but as a background app for cashback, it can be a fun extra.
Final Verdict
My CoinOut review is simple. This app is legit, and fun in small bursts but not better than many other options out there.
With slow earning rates, shrinking game rewards (time to value earned), and limited payout tiers, it’s not a serious money maker. For me, it’s worth keeping installed just for receipts, but I’ll lean on apps like Fetch, Ibotta, and Upside for more real cashback.
FAQ: CoinOut
Is CoinOut legit?
Yes. It pays real cash or gift cards, but slow to earn.
What’s the minimum payout?
3,000 coins ($3 Amazon gift card).
How much can you earn?
I earned 3,210 coins ($3.21) in about month. Games can add coins faster, but the math still works out to pennies per hour.
What are “Plays” in CoinOut?
Plays are spins on the CoinFrenzy roulette wheel. I used 8 plays and earned 20 coins total.
Is CoinOut worth it?
Only as a passive app. Upload receipts weekly and take the small payouts. Don’t expect it to replace bigger cashback apps.
I need a referral link
You can use mine by clicking here. They may offer rewards for signing up on a link, but I didn’t see any as of writing this article.