- What CoinOut started as and what it is now
- How CoinOut earns you Coins
- Cashing out CoinOut rewards
- The privacy price of using CoinOut
- Is CoinOut free and who can use it
- What to watch with CoinOut
- Copycats and false CoinOut promises
- CoinOut at a glance
- More low-effort ways to bring in a little extra
- Frequently asked questions
CoinOut is a real receipt-scanning rewards app, and it began life on Shark Tank as a way to get coins out of cash payments. Per its App Store listing you earn Coins for receipts and online orders, and the first reward starts at 3,000 Coins. The trade-off is your data: BGR says the app now focuses on selling consumer behavior data.
Despite the name, CoinOut has nothing to do with crypto coins, and that's the first thing worth saying. It's an app that turns your shopping receipts into rewards. I've gone through its App Store listing and the press coverage so you can see how it works and what you're giving up in return.
What CoinOut started as and what it is now
According to BGR, CoinOut was pitched on Shark Tank by former Apple employee Jeff Witten as a way to get coins out of cash payments. The business changed course. BGR says the app now rewards users for photographing store receipts from U.S. retailers, and that IRI Worldwide acquired it in 2021.
So the app on your phone today is a different idea from the one on TV. It's now a consumer research tool that pays small rewards for sharing what you buy.
How CoinOut earns you Coins
The Apple App Store listing, which names Coin Out Inc. as developer, describes several ways to collect Coins:
- Photograph paper receipts from US retailers and submit them within 15 days of purchase.
- Link your email and retailer accounts to earn Coins automatically on online orders.
- Play free games in CoinPlay, complete Missions such as surveys, collect badges and try instant-win plays.
- Move up through five reward levels, which increase the Coins you earn per receipt or order.
The listing also mentions sign-up bonuses: 500 Coins for your first 3 paper receipts and 200 Coins for connecting your first email account.
Cashing out CoinOut rewards
The lowest first-reward threshold on the listing is 3,000 Coins. Redemption options include Amazon gift codes, PayPal, Venmo and a Your Choice gift card.
I couldn't find a published cash value per Coin on CoinOut's own pages, because its website wouldn't load for me and its FAQ page returned an error. Without that, I won't guess what a receipt is worth. Check the rewards screen in the app and do the sum yourself before you decide whether the time is worth it.
The privacy price of using CoinOut
This is the part that matters most. The developer-provided privacy labels say usage data may be used to track you across other companies' apps and websites. They also say purchases, financial info, contact details, user content and identifiers are linked to you, and that purchase history and product interaction are used for third-party advertising.
BGR goes further and says the app now focuses on selling consumer behavior data. I couldn't read CoinOut's privacy policy, so I can't tell you exactly what is shared or sold. That's the trade at the heart of apps like this: your shopping habits are the product, and the Coins are the thank-you.
Is CoinOut free and who can use it
The listing shows CoinOut as free, with no in-app purchases listed and advertising noted under its content. The age rating is 4+. Receipts have to come from US retailers, so it's built for US shoppers. I didn't find an official statement about other countries, or a minimum age to hold an account.
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What to watch with CoinOut
- Linking your email. Connecting an inbox lets the app find online order receipts. Think about what else sits in that inbox before you agree.
- Small rewards. A threshold of 3,000 Coins means it takes plenty of receipts before your first reward.
- Deadlines. Paper receipts have to be submitted within 15 days of purchase.
- Use a separate email address. If you do link one, a dedicated address for shopping receipts keeps the rest of your life out of it.
Copycats and false CoinOut promises
Because the name sounds like a crypto brand, scammers use it. If anyone offers you bitcoin, asks you to pay to withdraw, or messages you from a chat app about a CoinOut payout, step away. Get the app only from the official store listing and keep card details out of any chat.
CoinOut at a glance
| Question | What the listing and press say |
|---|---|
| What does it pay for? | Receipts from US retailers and online orders |
| Receipt deadline | 15 days from purchase |
| First reward | From 3,000 Coins |
| Payout choices | Amazon gift codes, PayPal, Venmo, gift card |
| Cost | Free, with advertising |
| Main trade-off | Purchase and usage data |
More low-effort ways to bring in a little extra
CoinOut suits people who are going to shop anyway and don't mind the data trade. If you'd like other phone-based ideas, my guide to five easy ways to earn money using your phone has plenty. Before you sign up to anything that promises easy rewards, read my checklist on legitimate fast ways to make money online without scams.
My verdict: CoinOut is a real app that offers the rewards it describes. It's a data-for-points swap, so go in knowing the amounts are small and your shopping habits are what it's after.
Frequently asked questions
Is CoinOut legit?
CoinOut is a real receipt-scanning rewards app from Coin Out Inc., listed on the App Store. It pays small rewards in exchange for your shopping data.
Is CoinOut a crypto app?
No. CoinOut rewards you with Coins for scanning receipts and linking online orders, and you redeem them for gift cards, PayPal or Venmo.
How many Coins do you need to cash out on CoinOut?
The lowest first-reward threshold on its App Store listing is 3,000 Coins.
What is the deadline for submitting a CoinOut receipt?
The listing says paper receipts from US retailers must be submitted within 15 days of purchase.
Does CoinOut sell my data?
BGR says the app now focuses on selling consumer behavior data, and the privacy labels show purchase history used for third-party advertising. Read CoinOut's privacy policy for the details.
Is CoinOut free?
Yes. The listing shows it as free with no in-app purchases, and it contains advertising.
