Receipts to Riches: Why You’ll Love Earning with CoinOut!

Do you ever toss your receipts without a second thought? With CoinOut, those little slips of paper could mean big rewards. From universal receipt scanning to interactive earning features, CoinOut is redefining how we save while we shop. Here’s everything you need to know about making the most of this cashback app.

Who and what is CoinOut?

CoinOut is a cashback app that allows you to turn your receipts into rewards. Whether they’re from a grocery store, coffee shop, or your favorite retail outlet, CoinOut lets you scan them and earn money.

The app first gained attention in 2017 when its founder, Jeff Witten, pitched CoinOut on the television show Shark Tank, securing a deal with Robert Herjavec for $250,000 in exchange for 15% equity. This exposure helped establish CoinOut as a recognizable name in the cashback app industry.

After SharkTank, CoinOut found a home with Circana, LLC, a leading analytics and market research company. CoinOut, Inc. was initially acquired by Information Resources, Inc. (IRI) in May 2021 to enhance IRI’s receipt-scanning and consumer insights capabilities. In August 2022, IRI merged with The NPD Group, and the combined entity rebranded as Circana in March 2023.

Why Choose CoinOut?

Universal Receipt Acceptance
Unlike other cashback apps, CoinOut accepts receipts from almost any retailer. This flexibility makes it easy to get rewarded no matter where you shop.

Flexible Redemption Options
CoinOut lets you redeem your earnings through PayPal, direct deposit, or gift cards. Whether you prefer cash in your bank account or a shopping spree, the choice is yours.

Interactive Features
With fun additions like CoinFrenzy, earning rewards becomes an engaging experience. Collect game plays to win extra Coins, adding a gamified element to the app.

User Reviews and Feedback

Pros:

• Easy to Use: Many users praise CoinOut’s intuitive interface, making it simple to scan receipts and earn cashback.
• Wide Receipt Acceptance: Unlike other apps that require purchases from specific retailers, CoinOut accepts receipts from almost anywhere, which is a major plus for users.
• Flexible Redemption Options: Whether you prefer PayPal, direct deposit, or gift cards, CoinOut offers a range of payout methods to suit your needs.
• Consistent Rewards: While each receipt may not yield a high amount, the ability to scan multiple receipts daily means small earnings can quickly add up.

Cons:

• Low Per-Receipt Earnings: Some users feel that the cashback amount per receipt is lower compared to similar apps, requiring frequent usage to see significant rewards.
• Daily Scanning Limits: CoinOut limits the number of receipts you can scan each day, which can be frustrating for users with multiple purchases.
• Redemption Minimums: Certain payout options, like PayPal, require users to accumulate a higher minimum balance before cashing out, which can take time.
• Data Concerns: A few users have expressed concerns about privacy, as the app collects data from receipts to provide rewards and insights.

Tips for Success on CoinOut

Our research team spent some time in the CoinOut app and made some notes for you on how to find success:

1. Scan Receipts Promptly: Submit receipts soon after your purchases. Remember, CoinOut only accepts receipts that are up to two weeks old.
2. Link Your Accounts: Connect your email and retailer accounts for automatic e-receipt processing. This also earns you a one-time connection bonus.
3. Complete Profile Surveys: Filling out surveys not only earns extra rewards but also helps tailor offers to your preferences.
4. Check Progress Regularly: Use the “My Progress” section to track your milestones and see how close you are to unlocking higher reward levels.

Common Complaints and How to Address Them

While CoinOut offers a lot of benefits, but we found that there some limitations or frustrations:

• Low Earnings Per Receipt: Although rewards might seem small, consistency adds up. Regular scanning maximizes your earnings over time.
• Daily Submission Limits: Be mindful of the cap on receipts you can scan daily and plan accordingly.
• Redemption Thresholds: Some payout methods, like PayPal, require a higher minimum balance. Gift cards often have lower thresholds, so they’re a good alternative.

Privacy Policy

CoinOut is committed to safeguarding user information while providing its cashback services. Here are the key aspects of its privacy policy:

• Personal Information Usage: CoinOut collects data from scanned receipts and linked accounts to offer tailored cashback opportunities and enhance the user experience.
• No Unauthorized Sharing: Your personal data is never shared with third parties without your explicit consent, except when required by law.
• Aggregated Data: CoinOut may use aggregated, anonymized data for market research and analytics to improve its platform and services.
• Transparency: Users are encouraged to review the complete privacy policy on CoinOut's website to understand how their data is handled and protected.

Social Media Presence

CoinOut actively engages with its community through several social media platforms:

• Facebook: Regular updates about app features, cashback tips, and user success stories.
• Instagram: Engaging visuals and stories showcasing user earnings and app benefits.
• Twitter: Quick announcements, real-time updates, and direct customer support interactions.

Following CoinOut on social media is a great way to stay informed about new features, updates, and tips to maximize your earnings.

Summary

CoinOut is a cashback platform that stands out for its universal receipt acceptance, user-friendly interface, and flexible earning options. Whether you're scanning grocery receipts, shopping online, or linking retailer accounts, CoinOut provides an easy way to earn cashback rewards. While some users note small per-receipt earnings and occasional app glitches, the app’s reliability and prompt payouts make it a trusted option in the cashback space.

Ready to start? Turn your receipts into rewards today! Download the CoinOut app and start earning cashback on your everyday purchases. It’s free, easy, and a rewarding way to make the most out of every shopping trip.