Update: CashMagnet App

Attribution: Author’s Own Work

CashMagnet is still going strong and I continue to make money with my devices that run the app. But over the past few months, CashMagnet has revised some of its policies and how it does things. The following blog post discusses some of these changes. You can get further details directly from CashMagnet’s FAQ page on their website (it’s been recently updated).

Payout

I know many of us have noticed that CashMagnet takes much longer than 48 hours to deliver payment, but now they’ve officially acknowledged the delay and that most users should expect payment 1-2 weeks after requesting it. According to CashMagnet, the delay is due to sponsors paying CashMagnet 4-6 weeks after the user has completed a task with the app, such as watch ads or installing an app.

Device Limit

The old policy was 4 devices per IP, or something along those lines. Now, users can have as many devices as they want, as long as they’re only running a maximum of 4 devices per IP at any one time. So you can run 4 phones at your home and another 4 at your friend’s house, all using the same CashMagnet account.

Another advantage of this new policy is that you can rotate your devices so you can have 4 devices running all the time. According to CashMagnet, if you have the maximum 24 hours of passive runtime at your disposal, your “reset” or “cool down” time is about 6-8 hours for each device. So with the old policy, you’d run your phones for 24 hours, then shut them down for 6 hours (or more), then start them back up for another 24 hours. Now, when the first set of 4 phones are “cooling down,” you can have your next set of 4 phones running. This will allow for constant earnings, although some of your phones will never use up their allotted 24 hours (in theory).

CashMagnet has expressed its plan to get rid of the device limit (at least for rooted devices), but it doesn’t look like that’s going to happen until August or September of 2018 at the earliest.

Device Removals

CashMagnet has also clarified its policy on removing devices. Apparently, they will only allow users to remove one device every 24 hours. Given its new policy regarding allowing multiple devices, there’s less of a reason to delete a device, but the option is still there.

I guess you’d only be deleting devices to clean up your CashMagnet profile or statistics page or to gain extra points for re-downloading apps. But apparently, CashMagnet has another policy in place to prevent users from constantly downloading apps to gain points. They have a system that keeps track of points obtained from downloading apps. CashMagnet refers to these as “bonus points” and in certain situations, if a user’s point balance includes more points from downloading apps than from viewing ads in passive mode, they will prevent the user from cashing out until they see enough ads (by running the CashMagnet app in passive mode).

Bottom Line

CashMagnet is continuing to go through changes, with some for the better and some for the worse. The good thing is that it seems to be going strong and have a bright future for phone farmers.