Hi and welcome to my Bigtoken review. An app that helps you to earn from the sharing of your personal data.
Is Bigtoken a scam or is it worth your while? Some users feel that Bigtoken is a pyramid scheme. Is this true?
Let me give you the full inside story on this application.No doubt you want to know whether or not using this application can earn you money.
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It is my hope that this review will help you to make an informed decision. Before we started, you may be interested in checking out the proven method that I use to earn a passive income online.
Click on the following link to learn more.
NAME OF PRODUCT: BIGTOKEN APP
WEBSITE : www.bigtoken.com
FOUNDER : SRAX, a nasdaq listed company.
WHAT IS ABOUT? : An application that allows you to control the sharing of your personal data that you generate as a result of answering surveys or performing certain tasks. In exchange for granting access to your data, you will be awarded points.
These points can be converted into cash.
OVERALL RATING:
WHAT IS THE BIGTOKEN APP ALL ABOUT?
BigToken is a free app that can be downloaded on both Android and Apple based devices.
It is created by a Nasdaq listed company called SRAX.The app creates a consumer-powered data marketplace. In other words users of the app are in control of their personal data which they accumulate as they go about answering surveys or doing certain tasks.
The intention behind the app is to allow people to earn points in exchange for sharing their data with a specific company. These points can then be converted into cash, which the user can ultimately withdraw.
HOW DOES THE BIGTOKEN APP WORK? HOW DO YOU MAKE MONEY WITH BIGTOKEN?
Its free to sign up with Bigtoken. All that you will need, is an email address and you will have to create a corresponding password.
There are various ways in which you can earn points using the Bigtoken application.You can then redeem these points for rewards such as cash, gift cards and charity donations.
You can earn by :
- Checking into different locations,
- Answering questions and surveys,
- Connecting your social media accounts,
- Sharing your data within the marketplace, and
- Every time that your data gets purchased by a brand, organizations or corporations.
The app allows you to manage your digital data. You get to decide which parts of your data you would like to share as well as who can have buyers access to it.
I will go into a bit more detail as to how this app works with some of the methods that I had outlined above.
CHECKING INTO A LOCATION
Every time that you check into a specific location, you can earn points. However you may need to spend a certain amount of time at these locations in order to be credited with points.
You also may be required to perform certain tasks at these locations as well.
CREATING A TEAM OR BECOMING PART OF A TEAM
If you successfully complete actions within a team network, you can earn bonus points.You need two or more friends to start a team.
To create a team, you simply select the 'team' option of the app. You can choose whether you want your team to be 'private' or 'public.'
There is one team action per day, and each action is available for 24hours.Each team member has to complete the action before the timer runs out in order for everyone to get the bonus points.
The video below outlines the process of creating a team on the Bigtoken app.
At the moment, one point equates to $0.01.
RECRUITING OTHERS
You can also receive points for users who successfully sign up. In addition, you can earn a percentage of the points that they earn as they go about completing an action.
IS YOUR DATA SAFE WITH BIGTOKEN?
According to the official Bigtoken website, all of your data is stored in a cloud. They claim that they use a two-level encryption method which they say is the 'higher standard' than most companies, to storing your data points and personal information.
As far as the safety is concerned with regards to your data, Bigtoken is the only company here that will collect you data.
Bigtoken can sell access of the data that you share to interested parties, but these companies will not be able to copy the data to their servers and distribute it in any manner.
Should you decide to delete your Bigtoken account, then your personal data will be not be stored within the app.
WHAT I LIKE ABOUT THE BIGTOKEN APP
I like the fact that registration is free.
The interface and overall experience of having used the app is simple and user-friendly.
Should you opt for a cash payout, they do accept Paypal as a method of withdrawal.
WHAT I DO NOT LIKE ABOUT BIGTOKEN
The app is only open to US citizens.
Very high threshold limit before you can request a withdrawal. You have to reach a minimum of 2100 points or $21 before you are eligible for a payout.
You can only redeem your points once every 30 days.
You can only redeem 25% of your total points every 30 days.
IS BIGTOKEN A SCAM? MY PERSONAL OPINION
As I was reading some of the reviews on the App store, I noticed some common complaints from folks who were using the app.
Many of them were not too thrilled about the fact that they could only get 25% of their earnings cashed out. And to add insult to injury, they could could only cash out once every 30 days.
I can fully understand their complaints. The way that I see it, you earned it, you should have the right to claim it all, right?
According to their terms and conditions, these points are 'given in good faith,' and are not from the selling of your data to advertisers.
Yet, in the very next line, they claim that it is only a 'temporary' situation.
Some users believe that Bigtoken has the workings of a pyramid scheme.
Is Bigtoken a pyramid scheme?
According to Wikipedia, a pyramid scheme is "business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products."
In the case of Bigtoken, there are no initial investments, neither is there any product that is exchanging hands. However,members are been paid small percentages for their efforts.
Is the remaining 75% used to pay the other members? How much exactly are they earning from selling your personal data?
In my opinion, your personal data is just as valuable and important as your e-mail address. Surely they are not going to sell your data at a cheap price.
Having said that, I think that for one's time and effort, the compensation is not worth it.I personally would not recommend this app as a means of making money.
ARE THERE ALTERNATIVES TO MAKING MONEY?
Yes, there certainly is.
It depends on what suits you the best.
I for one do not like doing online survey jobs. From past experiences, I have learned that survey jobs pay very little compared to the amount of time that I invest in it. Should you be interested in these kind of jobs, then you can read more about Paidviewpoint.
Then there are the MLM(multi-level marketing) businesses that you can try. I do not often endorse these businesses, as I am not a fan of recruiting. However, the AIM Companies are one such network marketing that I would recommend.
You also can sign up for free 'get paid to' websites such as ZAI REWARDS, USERTESTING, REMOTASKS, or TREASURE TROOPER.These sites pay little at a time, but they are legit and if you join many of these you can build a nice balance.
If you are looking to make serious money online, check out the proven method that I use. It is a business model that allows you build a business based on your passion or interests. It gives you flexibility and eventually will allow you to stop trading your time for money.
Thanks for joining me on this Bigtoken review.
I hope that it has helped you out.
Should you have any questions or comments, please leave them below. I promise to get back to you.
Kind Regards and Take Care
Roopesh