How can I sit around and make
this thing pay me $100 a day?
There's all kinds of apps that advertise passive
income, but what does that actually mean?
After a quick Google, I have a small list
of apps that you can download straight to your
phone that claim to give you free crypto.
Of course, I wouldn't just give you this
list and then set you free, like you're
today's contestant on The Amazing Race.
So I spent the last week giving these
apps a run for their free money.
By the end of this video, I think you'll be able
to decide for yourself which apps are really worth your time.
First, we have Ember Fund.
This is a hedge fund for crypto
investing and trading, but they also offer
free Bitcoin mining directly on your phone.
If you know anything about Bitcoin mining, you'll
know that it takes a powerful computer and
a ton of electricity to mine Bitcoin effectively.
So I was a little bit skeptical because
while my phone is a pretty impressive piece
of technology, I don't consider it a 24/7
energy intensive cryptographic math problem solving machine to verify
and add transactions to the blockchain.
With that being said, let's jump
in and crunch some numbers.
When you start using the app, it
claims to earn five Satoshis per hour.
And that's really just a fancy way
of saying less than a Penny.
So I opened the app, started my rig, and did nothing.
Because that's kind of the point here.
You don't really have to do anything.
I won't bore you with all the complicated math,
but if you were to mine Bitcoin 24 hours
a day for an entire month on this app,
you would have mined roughly $1.59.
But wait, because we forgot electricity.
Here in Puerto Rico, it might be a
little bit more expensive than average.
I won't overwhelm you with the rigorous
calculations, but it cost me about six
cents per month to charge my phone.
So that comes up to a grand total
of $1.53 in profit per month.
So I was sitting there thinking, how
could I improve my margins on this?
Electricity is absolutely eating away at my profit here.
And that's when I found this solar phone charger.
Problem solved.
I just needed $30. So I could start the app,
and in 20 short months, I'd probably
need a new phone by that time.
But we can't complain too much because this
is just free money, as long as you
remember to restart the app every 24 hours.
Now, is this going to make you the next Elon Musk? No.
Does it appear to pay you? Yes.
Now I have a little bit more hope for this next app.
Actually, it's just software that I already
had on my computer because back in
March 2020, I went a bit overboard.
I was trying to avoid any and all
viruses, so I got Norton just in case.
Now, I recently learned that this app
doesn't just protect you, but it will
also mine Ethereum on your computer.
We already learned that my phone could mine
some crypto, so my computer almost certainly should
be able to mine much, much more.
As soon as I started, I was projected to
earn anywhere from $15 to $22 per month.
This is beginning to sound
like some real passive income.
I mean, $15 to $20 can at least pay
your Netflix or Onlyfans or other essential bills.
So I started the app,
passed one dollars in earnings,
then $2 in earnings.
That was already my highest earning app
until I couldn't take it anymore.
This app turned my computer into a literal fighter jet.
I'm not used to working in
this hot, violent wind tunnel.
I had to shut it off.
I don't know, maybe it's just my computer set up that's a problem,
but then again, I can run
three monitors on this just fine.
It seems like this would work best if you have a
computer that you don't have to use for work all day.
That way you can just lock it in a
room and you don't have to hear its screams.
And I hate to say, but
things actually got worse from here.
Like I mentioned, I was able to tolerate
$2 worth of wind tunnels, so I wanted
to cash that out to buy some Ibuprofen.
And it turns out you needed $5 to cash out.
I needed a win, and this app
could be exactly what I needed.
It has millions of users, Coin app, you can earn in
a number of ways, but the most popular is by Geomining.
Geomining is just a nerdy way
of saying verifying your location.
This means you walk around, run
around, drive around, Mary, go around.
Whatever you need to do to show
the app that you get around.
The more you move, the more you make.
Now you probably remember the
whole craze with Pokemon Go.
A couple of years ago, that game that sent
children out into busy intersections to catch them all,
Coin app reminds me of that game, but instead
of catching Pokemon, I'm catching a loitering ticket trying
to get my miles in to earn passive income.
I left Coin app running on my phone for
a week to see how much I could make.
And before I open my phone to look,
I need to first admit that any location
based app probably isn't best suited for me.
I mean, look at me.
Do I look like I ever leave this dark room?
So after one week of this running in the
background, this app has earned me 294 coins.
Now, that sounds like a decent amount until
I figured out what a coin is worth.
Well, 1000 coins are worth $0.39.
That means my 294 coins is equal to about $0.11.
Now, I don't want to make it
sound like Coin app isn't worth it.
I feel like if you have the right
lifestyle where you're always on the move.
Maybe you could make some money by using this.
If I was a trucker or Uber driver or criminal
on the run, I would definitely try this app out.
So I might not get out much.
But I do get my exercise in.
And thankfully there's an app that will
pay me to be healthy because living
longer definitely isn't enough of an incentive.
This app is called Sweatcoin.
Through a complicated algorithm, it pays you
based on how active you are.
As I mentioned before, I don't really get out too much.
So I decided that in order to properly test this
app out, I should probably go for a run.
So after a sunscreen bath and a sweaty three mile
run through the park, I earned about six sweat Coins.
Now, I have no idea how much these were worth, so
I went into their sweatshop to see what I could buy.
Now, there were some coupons there that I could
afford already, but I don't have time for coupons.
I wanted to buy something tangible.
The first thing I came across is one of those
little Alexa dot speakers listed at 1200 sweat coins.
And you're probably thinking, Max, Alexa
listens to literally everything you say.
Why would you want that?
And to that I say I just downloaded multiple apps
that pay me $1 a month to track me.
Alexa is the least of my problems.
So this Alexa's retail for about $40 on Amazon
at my current rate of six sweat coins and
a few curse words for every 3 miles.
I would have to run about 200
miles to afford a smart speaker.
So it looks like you make about twenty cents a mile.
And that could actually add up if
you walk a lot for work.
I mean, if you walk 5 miles a day,
that would actually be a dollar a day.
If I had this when I ran an
ultra marathon, I would have made about $12.
- I haven't thrown up in about 3 miles, so
- I'll let you decide if this is the right app for you.
So given all of these apps, if I were to use them every
day for a month, I would make about $34 a month.
Far less than $100 a day.
But it is free money.
If you're someone who walks or travels a
lot for work, you could earn way more.
Mostly sitting at a desk talking to myself all day
doesn't earn me a whole lot, except for the fact
that this is my actual job that pays the bills.
But this does bring up a good point.
I think there's so much focus on making
money as easily as possible doing nothing, which
is fine if you can do it.
But the unfortunate thing is, if this stuff
was insanely profitable, everyone would be doing it
and the profitability would go down.
I mean, I've done fairly well for myself, and
I'll say that I've always earned the most doing
things that no one else wanted to do when
there were no systems in place.
So in business when I was 19, I took
all of my savings and I purchased a failing
moving company that no one else wanted to buy.
It was Insanely hard. I mean, there were times when I
didn't have enough money to pay payroll.
I bought discount groceries from the store that
only sold stuff past the expiration date.
It wasn't exactly fun, but after a few years
of 80-90 hour work weeks, I was earning
far more than the average income and still buying
expired protein bars at the grocery store.
But that was a personal choice. In YouTube,
I started seeing real traction when business stimulus
programs were coming out, but they were insanely
complex to follow and I recognize this as
a business owner, so I would actually read
hundreds of pages of legislation.
If you've ever read legislation, you'll know, that's like torture,
to figure out how these programs work and
then I would make videos on them.
No one else was doing it at the time because
it sucked, but there was value and people started getting
interested in my other finance content once they saw that.
So once you figure out how to provide value,
It's pretty insane how quickly things can work out
for you and then you figure a few things
out, start building up money, and that's when you
can really put your money to work for you.
I'm not trying to brag or
discourage or anything like that.
I'm just trying to say that it's not a huge
surprise that these apps didn't pay me $100 because things
that are worth it are generally hard, really hard.
So $34 a month actually seems like a pretty huge
win given how little work it is, as long as
you don't mind these apps tracking your every move.
- I'm sorry, I didn't hear that.
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Once you do have some extra cash to
invest, check out my free investing content here
on YouTube and if you'd like even more
in-depth specific content, you can join our investor
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There you'll find live coaching every day, all
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the most friendly investor community on the planet.
So that's going to do it for today.
I'm Max Maher and I hope you have a profitable day!