CashMagnet App Review – Is It Profitable or Just a Waste of Battery?
The creators of the CashMagnet promise their app will pay you for every minute while you do nothing.
I have seen many people on the internet worried that it might be a scam app that doesn’t pay or steal personal information. It seems too good to be true!
In this review, I would like to explain how CashMagnet works, and give you my honest opinion about it.
By the way, if you want to learn the exact strategy that earns me $1,000/mo from home, check out my #1 recommendation.
CashMagnet App Review
- Name: CashMagnet App
- Website: cashmagnetapp.com
- Price: Free
- Overall Rating: 3.4/5
What is CashMagnet App?
CashMagnet is an android application that allows users to make money while they are not using the phone.
The longer you leave the app running, the more money you will make.
How Does It Work?
Instead, the app will browse sites, click on banners, view advertising, and install games/apps automatically.
In other words, the developers are using CashMagnet as a bot to get traffic for advertisers. That explains how the app generates its revenue and is able to pay users.
While CashMagnet is working, you will earn points every 5 minutes. The best thing is that you only need to accumulate $1 to cash out via PayPal. As for gift cards such as Amazon, the minimum requirement is $5.
How Much Money Can You Make?
The website claims that most users redeem their points after 2 days, so it’s possible to get approximately $0.50 per day if running the app for 24 hours.
However, it depends on your country and whether your device is rooted or unrooted.
A rooted phone is the one that lets CashMagnet install and play other applications automatically. If your phone is unrooted, it won’t run certain apps, and therefore, you will earn fewer points.
It’s possible to use up to 4 devices with the same account. In a forum, one guy claims to make $20-$30 per month with 4 devices.
However, it’s possible to use a VPN and create more accounts with different IPs.
Check out this guy who built a CashMagnet farm in his room. Insane!
Some people are worried that CashMagnet may be using your phone for suspicious activities such as collecting personal data without your consent.
According to the website, CashMagnet is entirely safe, and they guarantee your data and settings won’t be used for any purposes.
If you don’t want to take any risks, I recommend using a spare phone that doesn’t store any of your log-ins, bank account details, personal data, etc.
Is CashMagnet App Really Profitable?
One thing many people don’t realize before running CashMagnet is that it drains the battery very fast.
It consumes so much energy that it will probably kill your battery within a few months of use.
That means you should only use this app on phones that you no longer use. Otherwise, you will have to spend the money you earn on CashMagnet just to buy a new phone.
Some people recommend buying $10 phones on eBay just for running this app. To be honest, I think that is a good idea!
Still, you also need to consider the amount of energy you will use to recharge the battery multiple times a day.
Unless your accommodation has the electric bills included, your profit margin will be reduced.
So, is CashMagnet profitable? Well, it depends on your country, your phone, and your electric bill.
One thing is for sure, though. Even if you are using 4 devices and not paying the electric bill, you probably won’t make more than $30 per month. That is if you live in countries that pay more such as the US, the UK, Canada, and Australia.
I have looked at many user reviews on the internet and didn’t find anyone that did not get paid.
Some people were complaining about payments delays. However, the support apologized and promised they would get paid. As those users didn’t reply, I believe they received the payment.
Now, people complain about numerous bugs, which prevents them from running the app and earning points.
The support team reply and help everyone that has a problem.
Depending on the issue, they recommend uninstalling the application, or they apologize and say they are working to fix it.
Pros and Cons
- Earnings are 100% passive.
- The support team is very responsive.
- The minimum payout requirement is only $1.
- You can’t use your phone while the app is working.
- Low-income potential.
- Security concerns.
- It destroys your battery over time.
- It consumes a lot of energy, reducing profits.
- You can’t be sure if the app is not collecting sensitive data.
CashMagnet is a legit app that allows you to earn money while you sleep or enjoy life.
The owners are generating traffic (visits and clicks) to advertisers by using your phone as bots. That’s how they can pay users.
However, you won’t make a lot of money because of some downsides that reduce your profit margin.
In my opinion, CashMagnet is only worth it if you use a cheap or old phone.
Please don’t use it in your new iPhone or Samsung as it will destroy its battery and the money you earn won’t be enough to buy a new one.
How I Prefer to Make Passive Income Online
Making passive income is awesome, but if you rely on other people’s businesses, you will never make enough to pay the bills!
It’s possible to earn a job-replacing income by building your own internet business. And it’s not too complicated.
I focus on creating helpful content on my website, which attracts people from all over the world looking for information on Google.
When visitors click on my affiliate links and purchase the product, I earn a great commission.
I started as a complete newbie in 2015 and went from $0 to $1,000/mo online.
Different from CashMagnet, you must put in a lot of time and effort before you get results.
However, you can build it at your own pace and grow as much as you want. I know many internet marketers who earn over $10,000 per month and will never have to report to a boss again!
Building an online business was the best thing I did because now I work whenever and wherever I want. Besides, I still get paid if I decide to go on a round the World trip for months!
If you want to learn step by step how to create a website, attract visitors and earn passive income, check out my #1 recommendation.
The first 10 lessons are completely free, and with the starter membership you also get:
- 2 Free websites
- Support from me, the owners and the entire community.
Thanks for reading and I hope this Cashmagnet App review was helpful to you. If you have any questions, feel free to ask in the comment section below.