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What is CashMagnet?
CashMagnet is an android application that basically pays users for running applications on the phone. The application only runs on Android and performs better on Android 4.4 or higher. Basically, CashMagnet apps let you earn money by just surfing the internet and visiting websites.
The application is free and is available worldwide. There aren’t any surveys, paid offers or offerwalls, or any micro task on CashMagnet but just install the application and let it surf the websites and earn from it.
Discover how does CashMagnet work, how do users earn, how do applicaitons pay, and how can users redeem their pay.
How does CashMagnet Work?
Initially, users have to download the app from the Google play store as it is not available for IOS. After downloading the app, users have to install the application. After installing the application, users have to create and register an account.
After registering an account and installing it on your mobile device, users have to let the application running. The application will reward the users with points after running applications for a certain amount of time. Users can register with same profile up to 4 phones.
The application runs best on Android 4.4 and higher but it also runs smoothly on Android 4.2. The RAM recommended to run this app is up to 4 GB and more than 8 GB of storage is required.
Users are recommended to run the application while doing their household works and let it be. For every 5 minutes of running on the device, the application will provide certain points. Accumulation of such points is recommended to earn more cash.
How do Users earn from CashMagnet?
When the users leave the app running from their devices, the application gains traffic, and the application sends traffic to their paid sponsors. The application will provide certain points and running the application for 2 days will generate enough points to cash out.
As stated the app provides points based on time application running on the device. Points can be converted into cash. 10 points are equal to 0.001 cents so with that calculations if users earn 1000 points it is equivalent to 1 dollar.
You can register up to 4 phones, from the same profile. An average user can earn up to $20 per month and with 4 phones it is possible to earn up to $80 per month.
There is also a referral program to earn from CashMagnet. Users will earn 5% of the earnings that the referral is earning and if user’s referral brings another referral, the user will earn 5% of their referral as well. The application earns vary according to country.
Hence, if you can afford a spare smartphone with android you can leave the app running and can earn up to $20 per month.
Why is CashMagnet paying their users?
Basically, the application uses the device of the users has the means to drive traffic and a vessel to download their sponsored application. The website will gain traffic and send traffic to their desired websites.
The application also makes users’ device like a bot. There is no say on users’ behalf on what the application does to the device, what websites it sends, and what application it downloads. The application uses users’ devices to click on ads, banners, and visit certain websites.
That way the application earns considerably more than what it actually provides to the user. Quantify it with the number of members that run the application through their devices, the profit is substantial.
The applications you leave your phone running the application while going to sleep, as you can make substantial amount just from it.
There are also level up method in the applications. Users can level up to level 4. There are different stages of leveling such as installing apps, watching videos and so on.
How to redeem Earnings from CashMagnet?
The users need to reach 1000 points to cash out their points. 1000 points are equivalent to $1. There are various ways of cashing out users’ earnings Paypal Cards, Amazing Cards, Strem Gift Cards, Playstation Gift Cards.
Pros and Cons of CashMagnet?
- The application is legitimate and pays its user.
- The minimum pays out the ratio of the application is just $1.
- There are various options to withdraw cash from.
- There is no hassle of doing any micro-jobs or surveys.
- The application sends various traffic which is not really secured.
- The application can send a virus into users device
- The amount of earning from the application is not worthy of a full-time job.
So we can conclude from the above points that CashMagnet is a legitimate and interesting application. There is no need of doing any jobs just leave the application running to earn cash. But it is not recommended for an active source of income but to use it as a passive income option.
Check out our review on DollarClix if it is a legitimate app or just another scam.