Earning passive income is good, but not every program or app is legit.
I don’t see anything to be excited about Cash Magnet.
Allowing an app to freely install programs onto your smartphone is not safe.
How do you know Cash Magnet legit?
Even if Cash Magnet app legit, what about the programs that it installs onto your phone? Are those games safe and secured?
Most online Cash Magnet app reviews confirm this passive income app is legit. But this is only half of the story.
The real danger with Cashmagnet is the process of earning passive income.
Allowing an app to automatically install unknown programs onto your phone is risky.
Before activating your Cash Magnet app, please read this review to understand all the potential risks.
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Cash Magnet App Review Summary
Name: Cash Magnet
Business Type: Make Money App
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What Is Cashmagnet App?
Cashmagnet is an Android app allowing you to earn passive income with your phone.
The app automatically browses the web to view advertisements, click on banners, and install games to earn money from sponsors.
Cash Magnet shares the advertisement income with you in a form of points which are convertible into gift cards or cash.
The thought of earning passive income with your phone sounds exciting.
But the danger of allowing an app to automatically install unknown games onto your phone is enormous.
Plus, the low payout isn’t worth the risk of hackers stealing your personal information.
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How Does Cash Magnet Work?
Before installing an app onto your phone, you would want to know how it works, or how the app uses your data?
It’s not enough to say that Cash Magnet legit because it works and pays.
You need to know how Cash Magnet works to generate passive income.
You want to know if it’s safe to download, install, and activate this app.
Cash Magnet Phone Requirements
The Cash Magnet app doesn’t work with an iPhone. The company has no plan to release an ISO version of this app.
According to Cashmagnet, the company is focusing on creating a more stable Android version.
However, Apple would never allow the Cash Magnet app in its store for security concerns.
Security and safety seem to be the same reason Google Play pulled the plug on Cash Magnet.
You cannot download this app from Google Play Store anymore. You have to download the CashMagnet APK (Android Package Kit) from the Cash Magnet website to install it on your phone.
You need an Android phone 4.4.4 version or later with least 1 GB of RAM and 8 GB of storage to install and run Cash Magnet.
It’s considered very risky to allow a third-party app to run unchecked on your phone 24/7. Who knows what the app collects or does with your personal data?
Once you have installed the Cash Magnet app, you just turn it on, create an account, and start making money.
Cash Magnet Earnings and Payout
You are required to allow Cash Magnet app the permission to collect and download your phone’s usages. The app uses this information to track your earnings.
Currently, Cash Magnet places an earning limit on each phone. One phone can earn a maximum of 500 points ($0.50) per day, about $15 a month.
Cash Magnet allows you to run up to 4 phones on the same account. With 4 phones running 24/7, your max Cash Magnet earnings are $60 per month.
There’s another catch to this passive income app. The app only runs when you have “passive running time.”
Passive running time is earned by allowing Cash Magnet to install games onto your phone.
The number of games installed on your phone at a given time is used to determine your passive running time and “Cash Magnet Level.”
Cash Magnet Levels
You start at Cash Magnet level 1 with a few hours of passive running time.
You must quickly add more passive running time to continue earning passive income.
For each game install on your phone, you earn 75 minutes of passive running time.
You reach Cash Magnet level 2 after allowing 3 games to install and running on your phone.
Cash Magnet level 3 is achieved by allowing the Cashmagnet app to operate in passive mode between 24-50 hours. Passive mode operating hours are determined based on the number of games installed on your phone.
The highest level is the Cash Magnet level 7. It’s very tricky and difficult to achieve higher levels. You are required to perform various tasks, including:
- “Watch and Install” apps
- Make CashMagnet the default browser
- Grant full permissions to access data on your phone.
After achieving the highest Cash Magnet level with the 24/7 passive running time, you earn only $15 for the entire month.
The Cash Magnet app is completely taken over your phone. You are paying a $50 monthly phone bill to earn $15 passive income.
Is this a good way to earn passive income?
Cash Magnet Payout
It takes anywhere from 2 to 4 weeks to receive your Cash Magnet payout.
The minimum payout amount must be $1 (1,000 points).
You can request a payout in the form of cash deposits to your PayPal account, Bitcoin, or gift cards.
All payouts must be requested through the Cash Magnet website. You cannot do this through the app.
Is Cash Magnet legit?
The Cash Magnet app itself is legit. However, you should be more concerned with the way Cashmagnet uses your phone to generate passive income.
How do you know the games and apps installed by Cash Magnet are legit?
It’s very risky and unsafe to allow unknown apps full permission to collect and track your phone.
You are latterly given scammers free access to your personal information.
Is earning $15 a month worth taking this risk?
If Google Play and Apple stores do not allow Cash Magnet on their site, you should be concerned too.
Even though Cash Magnet is not a scam, but it’s not safe or good to use this app is making money.
But you don’t have to use Cash Magnet to make money. There are alternatives.
Apps Like Cash Magnet
There are many apps like Cash Magnet that offer passive money in return for data farming.
Data farming apps make money by collecting personal information and sell them to third parties.
It’s crazy to see people upset with Google and phone companies collecting and tracking their usages. But for $0.50 a day, they are happy to allow unknown apps full access to their phone.
I, personally, avoid passive income apps like Cash Magnet, including Embee Meter CX, MobileXpression, UpVoice, and Sweatcoin just to name a few.
Passive income apps like Cash Magnet are unsafe to install on your phone.
Final Review of Cash Magnet
Using the Cash Magnet app to generate passive income is not wise or safe.
You don’t make money with this app, because the payout is too low, only $15 per month. This is not enough to pay the phone bill.
It’s smart to invest in moneymaking opportunities that offer low risk with high profits. The Cash Magnet app is not one of them.
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Why take so much risk with Cash Magnet?
Giving someone full access to your phone is not smart. Who knows what they will do with your personal data?
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I hope this Cash Magnet app review answers your question, is Cash Magnet legit?
Until next time.
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