CoinOut Review: Legit Side Hustle or Just Another Scam?

kbsmall4
Jul 17
2 min read

Updated: Jul 18

Amid inflation pressures, 44% of Americans now use side hustles to support income—and receipt-scanning apps like CoinOut offer several micro-earning opportunities. Launched in 2016 and famously featured on Shark Tank in 2017, CoinOut (now owned by data analytics firm Circana Group) pays users for sharing shopping data via receipts. With 1M+ downloads on Android and a 4.6-star App Store rating, it promises "free money" for routine purchases . But does it deliver? Let’s find out, shall we?

What is CoinOut?

CoinOut is a free rewards app (iOS/Android) that converts receipts into redeemable "Coins."

Key facts:

Business Model: Sells anonymized shopping data to retailers and brands.

Payout Threshold: As low as $3 (3,000 Coins) for Amazon gift cards.

Reach: Only accepts U.S. receipts submitted within 14 days of purchase.

How CoinOut Works?

Coin = $0.001 (1,000 Coins = $1).

Here’s how to accumulate them:

1. Scan Paper Receipts:

Snap photos of any retailer’s receipt (grocery, gas, online).
Earn 10–50 Coins ($0.01–$0.05) per receipt, based on your "Level".

2. Connect Digital Accounts:

Link email (Gmail) for 200 bonus Coins and automatic e-receipt scanning .
Connect retailers (Amazon, Walmart) for extra points.

3. Complete Missions & Surveys:

New "Missions" tab offers surveys and tasks for bonus Coins .

4. Level Up:

Increase earnings by climbing tiers:

Bronze → Silver: 10 Coins/receipt (after 1st scan + profile survey).
Diamond: 50 Coins/receipt (requires email + retailer links + 10 scans/month).

Note: Levels reset monthly based on activity—drop below requirements, and you lose tier benefits.

Realistic Earnings

Trustpilot Rating

Despite its simplicity, CoinOut has a total rating of staggering 1.8 on Trustpilot as of 2025.

These are some of the issues faced by users:

Account Freezes: Users report blocked accounts upon cashing out $5+.
Receipt Rejections: Fuzzy barcodes or duplicate scans void earnings.
Privacy Risks: Connecting email triggers spam; some allege malware-like behavior.
Poor Support: Slow email responses.