The post Honeygain Review: Passive Income from Your Internet Connection appeared first on Millennial Money.
There’s a lot of chatter about passive income these days… which means there’s a lot of confusion about what it actually is.
Let’s set the record straight.
At a basic level, passive income is money you can earn without a ton of labor. Often, we hear the term associated with the stock market and real estate investing. In both of those scenarios, the more money you put down, the more you stand to gain.
But there are also ways to earn passive income without spending a dollar. And this is where services like the Honeygain app enter the equation.
I’ll explain how Honeygain works and the ins and outs of the platform so you can decide if it’s a worthwhile passive income opportunity.
Pros
- Truly passive income
- Free to use
- Transparent data use
- Decent sign-up and referral bonuses
Cons
- Somewhat low earning potential
- High payout threshold
- Limited customer support
- Inconsistent earnings
What Is Honeygain?
Honeygain launched in 2018 as the first-ever crowdsourced residential proxy networking app. Sound confusing? Don’t worry. It took me a bit to figure out what Honeygain is about, too.
Let me break it down: At its core, Honeygain helps its members make money online by sharing their internet connections with businesses. It’s available in more than 150 countries and is currently growing its member base by 30% each month.
If you’re unfamiliar with network sharing, this might sound strange. To set the record straight, let’s take a closer look at how it works.
How Honeygain Works
Honeygain is a relatively unique platform, which makes it confusing at first. Fortunately, the company is pretty transparent about how it uses your internet data.
The overall idea of Honeygain is simple: share your Wi-Fi with folks who need it and make extra money. Before you sign up, it’s important to understand exactly how Honeygain operates.
When you share your data plan, any devices you allow to run Honeygain act as connection towers.
Honeygain uses them to gather any unused data, which it sells to its partner businesses. These partners generally include data scientists, large companies, and market research firms.
Here are some of the most common ways these partners use the data:
- Market research
- Ad fraud prevention
- Brand protection
- Price comparison
- Travel fare aggregation
- SEO monitoring
- Content delivery
How to Make Money with Honeygain
Now that you know how Honeygain operates, let’s discuss the most important part: how to earn free money.
When you use the Honeygain app to share your data, you’ll earn credits, which you can turn into passive income. There’s a direct correlation between how much you share and how much you earn.
So how do you maximize how much you’re sharing?
There are three factors that influence it: your location, the number of IP addresses you use, and your internet speed.
Some of this is out of your control. Certain geographical areas will have higher demand, which will net higher returns. Also, Honeygain’s payouts are based on how many members are sharing their network at any given time. The more people using it, the more spread out the payments are among multiple users, meaning the less you stand to make.
To get the best chance at earning, run Honeygain on multiple devices and networks. Honeygain suggests that the optimal way to earn is to use one IP address per device and to enable at least three devices.
Honeygain Features
Network Sharing
Honeygain’s core feature is its app, which is compatible with Windows, macOS, and Android phones. When you sign up, install the app and it’ll work in the background.
Unfortunately, Honeygain is not compatible with iOS. That being the case, you can only share mobile data if you have an Android device.
Content Delivery
Content Delivery is one of Honeygain’s newer features. It requires a more stable internet connection, so it’s only available on Windows and macOS.
Unlike Honeygain’s standard function, Content Delivery utilizes your connection for bandwidth-intensive content like images, video, and audio.
To opt into Content Delivery, Honeygain must ensure you have a compatible IP usage type (either ISP or MOB).
From a user standpoint, the main benefit of Content Delivery is that it’s more likely to net consistent earnings. So, if you’re looking to make some cash on Honeygain, this feature is definitely worth checking out.
Swarmbytes
For regular Honeygain users, there’s a 10 device limit. However, users with a high number of IP addresses can take advantage of Swarmbytes, which allows you to use more devices and earn more money.
To use Swarmbytes, you need to fill out an application, which you can find on the Honeygain website.
Lucky Pot
Lucky Pot is a sweepstakes Honeygain runs every day. When you log in, you get a Lucky Pot notification. All you have to do is click on it, and you can get up to 10,000 Honeygain credits — a $10 value.
Lucky Pot is completely random but should help you get closer to the payout threshold.
User Experience and Awareness Survey
One of the best aspects of Honeygain is its focus on continuous improvement. The platform regularly seeks feedback through its User Experience and Awareness Survey, which you can complete as a member.
In 2021, Honeygain gathered survey responses from just under a quarter-million members.
Payment Methods
Unfortunately, Honeygain requires a minimum payout of $20 (20,000 credits). According to the platform, the average payout is just over $26.
You have two options to receive your earnings: PayPal or Bitcoin.
If you choose a deposit to your PayPal account, you need to register with Honeygain’s third-party payment partner, Tipalti. There’s a small fee for cashing out, and you’ll see the funds arrive in your account within three business days.
If you go the crypto route, payouts can take up to a week. There are no fees or registration costs, but you’ll need an external Bitcoin wallet to receive payment.
Further reading:
Honeygain Pricing and Fees
It doesn’t cost anything to sign up for Honeygain, and you don’t need to worry about recurring subscription fees as a member either. It’s a genuinely free platform, and you can use it without swiping your credit card.
The only fees you’ll see are for PayPal cash outs, as follows:
- Non-U.S. residents: $1, plus 2% of transaction (up to $21)
- U.S. Residents: $1, plus 2% of transactions (up to $2)
Signing Up and Getting Started
Head over to honeygain.com to sign up. All you need is an email address to create a new account, and you can enter a coupon code right away.
Once your account is ready, you’ll gain access to your dashboard. This is where you can track your data usage and earnings, which will start to accumulate once the app is running.
To activate data sharing, go back to the main page and click “Install.” Once the install is complete, open the page, log in with your account, and you’re good to go.
Honeygain Promotions, Bonuses, and Coupons
At the moment, Honeygain is offering a $5 signup bonus to new members. It’s technically a referral bonus, but you don’t need a referral link to get it. Just go to the website and you’ll see the offer pop up.
You can also earn extra credits when you take advantage of Honeygain’s Referral Program. When you invite new members, you automatically earn 10% of their daily earnings (excluding the $5 signup bonus).
The more people you add, the more passive income you stand to earn.
Honeygain Security
As you can probably imagine, security is the biggest question that comes up with a platform like Honeygain.
Fortunately, Honeygain users are protected from bad actors. The company is transparent about how the app uses data, and it only works with verified clients.
What’s more, Honeygain also doesn’t mine your personal data. The platform only uses your internet connectivity, and the only information it gathers is your email address and IP address.
Honeygain’s entire platform is also protected by encryption, and it promises 24/7 monitoring for fraud and unauthorized access.
Customer Service and Support
If you need to get in touch with customer support, Honeygain offers two options. The first is to send an email to support@honeygain.com, which should garner a response within a couple of business days.
According to Honeygain, the quickest way to get support is through its Discord. With Discord, you can connect with other members of the Honeygain community or staff.
Pros and Cons of Honeygain
Pros
- Truly passive income
- Free to use
- Transparent data use
- Decent sign-up and referral bonuses
Cons
- Somewhat low earning potential
- High payout threshold
- Limited customer support
- Inconsistent earnings
Alternatives to Honeygain
Honeygain is a rare breed. But if you’re looking to unlock passive income streams, there are other options out there.
Here are some alternative passive income apps to consider.
Swagbucks
Swagbucks is a popular rewards site that pays cash or gift cards for completing various tasks. It isn’t true passive income because you have to take surveys, but at least they’re easy.
With Swagbucks, you participate in market research surveys, watch paid ads, or earn through cash back shopping.
Nielsen Computer and Mobile Panel
You might know Nielsen best from its TV rating system. But the company also offers opportunities to make money online.
For example, the Nielsen Computer and Mobile Panel is an app that runs in the background while you spend time online. It gathers information about how you use your devices and, like Honeygain, sells that information to companies that use it.
The Nielsen Panel is free to download, and you can earn up to $50 in rewards per year.
Rakuten
Rakuten is an affiliate marketing platform that pays you to shop. Its online shopping portal houses thousands of brand-name merchants, and members earn cash back and score discounts.
Rakuten is free to use and pays out quarterly. Members receive payments via physical checks, bank transfers, and e-gift cards.
Frequently Asked Questions (FAQs)
Is Honeygain legit?
Honeygain is one of those apps that sounds like a scam on the surface. You can rest assured it’s not.
Over the years, the platform has steadily grown its user base and boasts an excellent 4.3-star rating (out of 5) on Trustpilot.
Does Honeygain really pay?
Yes, Honeygain really pays in either PayPal Cash or Bitcoin. However, you need to accumulate at least $20 in earnings before you can redeem either payout option.
Does Honeygain make your internet slow?
It shouldn’t. Honeygain targets and gathers the unused parts of your internet connection, so the speed you usually experience should stay the same.
If you think Honeygain is slowing you down, I recommend contacting customer service. Most of the time, internet lag is caused by your internet service provider. But better safe than sorry!
Is Honeygain Right for You?
Honeygain is a side hustle that requires no actual hustle. It’s a set-and-forget app that works in the background, and you can start earning free money just by installing it.
That said, it’s important to manage your expectations. Even the fastest internet connection isn’t likely to earn more than a few dollars a month, and it could take a little while to reach a payout.
In my opinion, if you’re looking for quick cash without having to lift a finger, it’s worth it to give Honeygain a shot. Even small gains can help you build toward your financial goals.
In that pursuit, here’s to making every dollar count!
The post Honeygain Review: Passive Income from Your Internet Connection appeared first on Millennial Money.
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June 27, 2022 at 10:30PM
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