Honeygain is an app that claims to pay you for sharing your unused internet bandwidth with their network. It sounds like an easy and passive way to earn some extra cash, but is it really worth it? In this article, we will review Honeygain and its pros and cons, based on our own experience and research.
How does Honeygain work?
Honeygain is a platform that uses your spare internet bandwidth for various purposes, such as web intelligence, content delivery, or SEO. You can download the app on your devices (Windows, Mac, Android, or iOS) or run the app as a node in Linux (container). You can then start earning credits for every MB of data they share with Honeygain. The app runs in the background and does not interfere with the user’s normal internet usage.
There are fees on your earnings:
Residence Fee per payment Non-us resident USD 2.00 + 2% up to USD 22.00 US resident USD 2.00 + 2% up to USD 3.00
As our payouts are done in USD, if you request a payout in a different currency, exchange fees are also applied. That fee is 2.50%.
Tipalti (payment partner) and PayPal will also apply a fee on the money you are receiving.
In our test, after paying the fees for $20.18 we received only $17.36 in PayPal.
How much can you earn with Honeygain?
Honeygain pays users $1 for every 10 GB of data they share. The amount of data you can share depends on several factors, such as your internet speed, location, device type, and network demand.
You can choose to receive your payment via PayPal. You can also exchange your credits for Honeygain’s own token, JumpTask (JMPT), which gives you a 10% bonus.
You can also earn extra credits by inviting your friends to join Honeygain or by participating in their daily Lucky Pot feature, which gives you a chance to win up to 10,000 credits. That never happened to us, though!
So, before you get too excited, you should know that Honeygain has a minimum payout threshold of $20, which means you need to accumulate at least 20,000 credits before you can withdraw your earnings.
What are the pros and cons of Honeygain?
Honeygain is a legit business that has been operating since 2019 and has over 3 million users worldwide. It has a good reputation and positive reviews from many users who have received their payments. It is also easy to use and does not require any technical skills or investment.
However, Honeygain also has some drawbacks that you should be aware of. The main one is that it is a very slow way to earn money online. Based on our test, it took us 3 years to reach the $20 threshold, which is a long time to wait for such a small amount.
The other drawback is an issue we encountered is that the Lucky Pot feature, which used to give us 10 to 20 credits per day, is now only giving us 1, 5, or 10 credits maximum. We noticed that it is getting harder each day to get decent credits. Today, luckily against all odds, we have obtained 20 credits.
The day after, we have the usual behavior.
Another downside of Honeygain is that its token, JMPT, has a poor performance compared to other cryptocurrencies. It is only traded on two exchanges, Uniswap and Latoken, and has a low trading volume of $4.16 in the past 24 hours. It also has a negative return of -41.4% in the past year, which means that exchanging your credits for JMPT might not be a good idea. Remember that you are going to pay conversion fees in exchanges.
Is Honeygain worth it?
Honeygain is a legit and passive way to earn money online, but it is not a quite profitable one. It might be suitable for people who have a lot of internet bandwidth to spare and do not mind waiting for a long time to cash out.
However, if you are looking for a faster and more rewarding way to make money online, you might want to look elsewhere.
There are many other platforms and opportunities that can offer you better results and satisfaction. It is your choice to use Honeygain if you are willing to give it a try, but do not expect too much from it.
