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The value of your data is more than you might think. Companies are willing to pay top dollar in order to find out what you’re thinking in order to market their products better and turn a larger profit.
That’s where Datacoup comes in. Datacoup gathers your data over the web and pays you for you it, even when you’re not doing anything!
Datacoup is a company that keeps track of data that you can enter via their online platform. They believe that your data is valuable and have thus created an interface that pays you to share your data, anywhere from your social media accounts all the way to your credit card spending habits.
This data is then sold off to companies who are willing to pay for this information, which is then in turn used to help them know what consumers like and dislike.
For example, when a company finds out that a specific age group on Facebook makes posts about their product, they can focus their efforts to individuals within that age range.
Here are the current platforms that Datcoup is connected with:
- Debit Card
- Credit Card
- Fitbit (coming soon)
Each time that you share a piece of your data through Datacoup, your projected weekly income will increase.
The amount of income that you can potentially earn will greatly depend on what accounts you have linked up with Datacoup. For example, if you share your twitter activity you may only earn an extra 20 cents a week, but sharing your activity on Facebook can get you an extra 30 cents per week.
Is It Safe?
Many users of Datacoup worry that their safety is an issue when they link their accounts, especially their credit and debit cards. However, they assure you that their system is fortified with firewalls with “limited points of entry.”
As for credit card and debit card accounts, Datacoup never sees login information, routing numbers or account numbers. In other words, it would take some impressive hacking (and criminal activity) for Datacoup to decipher the passwords protected by your bank.
While skeptical at first, nothing has happened to my accounts or jeopardized my safety or identity since opening a new account. My personal data may be shared, but it’s always kept anonymous so companies cannot trace information back to me even if they wanted to.
Datacoup takes security very seriously, and it would be a serious offense if they were to breach any type of personal information for any of its users.
How Do I Sign-Up For DataCoup?
Datacoup is very simple to sign-up for and can be broken down into 3 easy steps.
1. Register For An Account. Go to www.datacoup.com. Once you are there click on the large Sign-Up button and enter your email and make up a password to create a new account.
2. Link Your Accounts. Once you have an account setup and running you’ll be presented with the Accounts page. This page shows you what accounts you have and haven’t linked yet. If you wish to link an account with Datacoup, click on one of the options and you’ll be presented with steps on how to do so.
3. View Your Earnings Potential. After linking all of your accounts you can view your Data Profile. This will keep an accurate and up-to-date summary of your data that’s available for purchase. Here you can view the current value of your data, how many accounts are connected and how much you’ve earned thus far.
Take note that the value of the data is the weekly price. Scroll down even further to view the specifics on why your current data value is worth the amount it is.
4. Cash Out To PayPal. After waiting a couple of weeks, go to the Market page to view your current earnings and deposit cash into your PayPal account. Withdrawals can be made with a $1 dollar minimum and usually take 3-5 business days to process. Congratulations on earning some passive income for doing nothing!
To be honest and completely blunt, you aren’t going to become rich using Datacoup (unless your data is that valuable!).
At most, the maximum amount you can earn per week is $3 per week. However, even after linking the maximum amount of accounts to your profile, you still might not make this amount.
If you go to your profile page, you can view specific attributes that are being shared with Datacoup and specific ones that are denied as well. If you are denied for a specific data attribute, you can check the attribute description on how to try and fix this.
Values of a specific attribute are categorized into low, medium and high, with the high-valued ones of course yielding the most money. That is why these ones are the most important to fix first so that Datacoup can easily have access to them and get you paid.
Yet for doing absolutely nothing, making $12 per month isn’t bad.
Datacoup is a great way to make some passive income. Even if you don’t have a specific social media account, make sure to sign-up for as many as you can in order to earn some extra cash. When I first signed-up, I made a Tumblr account just to increase my potential earnings.
Even just at $1 dollar, you can request funds to be sent to your Paypal. While this isn’t a way to get rich quick or earn a lot of money, you’ll be doing yourself a favor by never having to work for an extra $12 dollars per month.
Datacoup ensures that their users identity and credit card information is safe, so there’s no need to worry about your accounts being hacked into. Tell us about your experience with Datacoup, and if you have any questions please leave them in the comments below. Thanks for reading!
My name is Jason Wuerch and I'm currently located in Madrid, Spain running a personal finance blog called Frugal For Less. My goal is to help everyone and anyone willing to make and save money through easy and simple ways that don't require much effort. Just because you're frugal doesn't mean you have to give up life's luxuries.