Welcome to my CoinLoot review!
Are you searching for an easy, risk-free way to dip your toes in cryptocurrencies?
CoinLoot is a reward app that offers a variety of simple tasks to earn Bitcoin, Dogecoin, Ethereum, Dash, and Litecoin.
The company connects you with Offer Walls, where you can get rewarded for taking surveys, installing apps, playing games, and more.
Understandably, there is a general sense of skepticism around money-making apps and sites.
The reason is that the internet is rife with scams and dishonest platforms trying to maximize profits at the expense of people’s earnings.
Even those who operate a legit business model may use sneaky tactics to exploit the user.
And that’s why you are here! You want to know if CoinLoot is a legit and reliable application to earn crypto.
This review will examine all its features and whether it’s worth your time! Does it pay? Let’s find out!
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- Company: coinloot
- Price: Free
- Payout Threshold: 1 USD
- Overall Rating: 3.7/5
What is CoinLoot?
CoinLoot is a reward platform allowing users to earn cryptocurrencies without investing money.
By completing surveys, watching videos, and playing games, you can collect coins redeemable for crypto.
With its intuitive interface and low minimum cash-out requirement, anyone can start earning Bitcoin and other litecoins in no time.
CoinLoot has been installed over 100k times and rated 4.3 stars on the Play Store.
But despite its impressive rating, many people are frustrated with the platform.
I know you are curious, but let’s dive into how the app works first!
How Does CoinLoot Work?
Installation and Registration
As an Android app, CoinLoot is easily accessible for free on the Play Store.
Launching the app will prompt you to sign in with your Google account. There is currently no other registration method.
After that, you can earn coins and redeem them from your mobile phone.
How to Collect Coins?
As soon as you create your account with CoinLoot, you will receive a welcome bonus of 75 coins.
All the tasks are available in the Offer section, where you can find six tabs to choose from.
Four of them are popular Offer Walls: OfferToro, AdgateMedia, AdscendMedia, and AyeStudios.
A survey section will connect you with a panel called Pollfish and another one where you can watch Daily videos.
These platforms allow you to access various offers from third-party advertisers in exchange for coins.
These offers include installing a new app and creating an account, playing a game, answering surveys, completing quizzes, and more.
You can pick any offer you like based on your interests and, of course, the reward!
Although most offers are free, some require a purchase or deposit to qualify for the coins.
For example, CoinLoot will award you 7150 coins if you download and subscribe to the NordVPN app.
As expected, those offers are the ones that will pay you the most, but you have to take into account the money you invested in these offers.
That’s why it’s important to convert your coins to cash and see if the reward is able to cover your costs.
Another way to earn coins on CoinLoot is through the survey provider, Pollfish.
This panel allows you to participate in marketing research studies and earn coins based on the length and complexity of each survey.
One common issue when taking surveys is wasting time with disqualifications.
Participants usually get disqualified for not meeting the target demographic or failing to answer questions truthfully.
Unfortunately, there is no other way around it, as companies rely on high-quality and targeted data to make important decisions.
Most surveys pay less than $1 and take 5 to 15 minutes. So, the pay is very low, especially when you consider several attempts to qualify.
CoinLoot falls short when it comes to surveys. So, click here for my top 10 best survey apps!
Coin Loot also gives you 1 coin for each promotional video you watch on your phone.
These are primarily adverts for fake money games like Crazy Drop.
So, be careful with those ludicrous apps claiming you can earn big money playing games.
Converting Coins to Crypto
Before using CoinLoot, it is essential to note that 1000 coins equal 1 USD.
To withdraw crypto, open the CoinLoot app and navigate to the “Redeem” page.
There, you will see a list of five cryptocurrencies: Litecoin, Ethereum, Doge, Dash, and Bitcoin.
Check the minimum payout threshold for that particular cryptocurrency.
Litecoin currently has the lowest minimum payout threshold of 1 USD (1000 coins).
Here are four other options:
- Ethereum: 50 USD
- Dogecoins: 5 USD
- Dash: 2 USD
- Bitcoin: 25 USD
Once you have enough coins, select the amount and click the “withdraw” button.
Follow the on-screen instructions to complete the transfer, including your wallet address and any additional information the CoinLoot app requires.
There are reports of users who received the crypto in less than 1 hour. However, it could take up to 24 hours!
Is CoinLoot Legit? Does it Pay?
Yes, CoinLoot is a legit reward app. However, there are mixed opinions about it on the Google Play Store.
Some praise the app for its fast payouts and decent points to coin conversion.
Unfortunately, some people reported not being able to receive the money.
One user received two 1 USD payments, but when he tried to cash out $10 in litecoin, his request was rejected due to suspicious activity.
This “suspicious activity” is a common complaint among those who give the app a 1-star rating.
Another user claimed that when he tried to withdraw $1, his 1000 coins were deducted but rejected for the same reason.
In such situations, reward apps usually will not explain precisely why your account was flagged. Of course, it could be any reason!
I have also read complaints about missing points for completing offers.
There could be several reasons, including technical issues that prevent advertisers from adequately tracking your offers.
That’s why you should note their name, completion date, and the number of missing points.
Another valuable advice is to take a screenshot and submit all the proof to CoinLoot.
Just be aware that points may take some time to appear in your account due to delays in the verification process.
So, wait a few hours or even a day to see if the points were credited before contacting the support team.
CoinLoot is a legitimate app allowing users to earn cryptocurrencies by completing simple tasks.
What I like about this app is the minimum payout threshold of just 1 USD and its focus on crypto.
Unfortunately, it needs to catch up regarding the number of offers and surveys it provides compared to similar apps.
For example, Freecash connects users with 10 Offer Walls and six survey partners, giving users access to endless opportunities. Check out my Freecash review here!
Moreover, some disappointed users had their withdrawals rejected due to “account suspicion.”
However, I believe these are unusual cases. Otherwise, I would expect to see many more negative reviews about it.
Overall, CoinLoot is a great entry point for anyone who wants to earn crypto without any investment or significant effort.
Thanks for taking the time to read my CoinLoot review!
So, have you used this app? If so, share your experience in the comments below and give your overall rating.