Spare5 Review: What is Spare5 and Does it Work? Find Out Here!
Wondering if Spare5 is worth it? Can you really use it to make some quick cash? In this Spare5 review you'll learn all about how the platform works, how much it pays, the minimum pay out, and if it's recommended for long term use.
Most of these complete-tasks-for-cash platforms either pay peanuts or have very few offers available. Is Spare5 the same? Continue reading to find out.
Spare5 Review Summary:
Pros: Easy to use. Free. Pays weekly. One dollar min cash out.
The Cons: Earnings are very low. Not many tasks.
The Bottom Line:
Spare5 is an interesting platform where members can earn some cash here and there. But it's not something I recommend for long-term use, because that time could be spent building something that brings in consistent cash, instead of a few cents here and there.
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What is Spare5?
Spare5 is a platform that pays people to complete simple tasks that are used to train computer models and algorithms.
The company was created by Might AI which is a data collection agency that is used to build computer models and AI systems, similar to the systems used in Uber, Google, Samsung and other popular tech-companies.
Most of the tasks revolve around identifying objects, similar to the Captcha codes used to block spam. I'll admit, the tasks are a bit more interesting than the usual surveys and other offers. Think of them as micro-jobs.
Basically, most of the tasks are based on solving or identifying things that computers struggle with.
Tasks such as:
- Adding keywords to images
- Isolate objects
- Categorize content (images, audio, video, etc)
- Identify audio clips
- Add captions
- Drawing bounding boxes.
- Taking photos.
- And a lot more.
Many people have compared these tasks to Amazon's Mechanical Turk platform.
The service used to have an app on the Apple and Google Play store, but as of today, it seems to have been removed from both stores. No word of when they'll come back.
After researching the platform a bit, it looks like a lot of people are saying the platform works great and you're able to make a decent amount of money from it. But is that the truth? I decided to take a look for myself to see...
Making Money with Spare5:
Before we get into the details, I'll explain a bit more about the tasks you can find on this platform.
As you can imagine, these tasks are very short. It only takes a few minutes to complete each one. And as you probably guessed, the rate for each tasks is usually a few cents.
Now, the amount of money users can make with Spare5 varies depending on a number of factors.
1. Location Matters:
For one, location is important. Much like those survey platforms, Spare5 is location-targeted. So if you live in a non-English speaking country, the chances of them having tasks for you are small.
One of the main complaints people have about this platform is the lack of tasks, and we'll get into that later on in this Spare5 review. On the other hand, the platform does work in every country, but there's no guarantee you'll see any tasks.
In short, there are more tasks in countries such as United States, Canada, and UK.
2. Spare5 Tasks Available:
The tasks are the main sticking point about this platform. Although, as I mentioned earlier, there are a wide range of tasks to complete, there just doesn't seem to be enough to earn a stable income. From what I could see in other Spare5 reviews, users mention the same issue.
The company claims to be working on adding more tasks but there never seems to be enough. To me, it looks like the members looking for work far outweigh the number of tasks, so whenever a new task is added, it disappears almost instantly.
Quality Bonus Work:
If you consistently deliver quality work, a bonus will be added to your tasks. These bonuses are calculated automatically based on your performance. It's a nice little feature to reward hard-workers.
How Does Spare5 Pay Users?
It seems like, at the moment, Spare5 only pays via PayPal. There's no gift store where you can redeem gift cards and what not, it's all based on cash.
What is The Spare5 Minimum Payout?
The good news is Spare5 has a minimum pay out of $1 USD. As soon as you earn $1 you can request a PayPal payment, although it's recommended to wait until you have a bit more to avoid the fees.
When Does Spare5 Pay?
Spare5 pays members weekly, every Friday. No need to wait weeks or months for your cash-out, which is nice. Continue reading to see if we recommend this platform!
One Thing to Keep in Mind:
There's one important thing you need to keep in mind when it comes to working on Spare5. Every task you complete is submitted to the team for review.
So you need to focus on doing the best and most accurate work possible, otherwise you run the risk of being banned from completing tasks. If a problem is found, the team will contact you and delay the payment for that task.
How Much Can You Earn with Spare5?
I'll be honest, if you're looking for a way to earn consistent income online, Spare5 is probably not the right fit for you.
The reason for this is because you have to be incredibly activate on the platform to earn a few dollars here and there. The amount of time you spend working could be better spent doing something that is more lucrative.
To give you an idea, most users earn less than a dollar an hour on the platform. If you build up enough EXP and have a good track-record, you can earn between $1 - 2 an hour.
But when you consider how easy the tasks are, it kind of makes sense.
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Here's what we liked about Spare5:
1. Weekly Pay Outs:
I like how they process payments every week. It's always nice not to have to wait a long time to receive your earnings.
2. Minimum $1 Cash Out:
I like how you don't have to slave away for months to earn enough to cash out. The one dollar minimum is nice, and it's relatively easy to reach it.
3. Wide Range of Simple Tasks:
As mentioned earlier, the tasks are very simple, and there are many different types to choose from.
Once again, these are mostly tasks computers can't complete (yet!) but they're very easy for people to complete.
I think this one of the first platforms I came across that pays members to frame images!
4. Payments Processed Through PayPal:
I'm sure you're sick of these platforms forcing you to redeem gift cards. With this one, they only use PayPal to process payments, once a week, so you can easily access your earnings.
The Cons with Spare5:
1. Not Many Tasks:
It looks like the tasks arrive in waves, and disappear in waves too. From what I can see, the more EXP you earn, the more tasks will be shown to you.
But even people who have a lot of EXP tell me there aren't many tasks for them. It could, technically, be an okay way to earn a few dollars here and there, if they have a good amount of tasks.
2. Low Rewards:
Granted, the tasks are simple, but when you calculate the amount of time needed to earn a couple dollars, it's totally not worth it.
For example, it usually takes new members about 3 hours to earn one dollar. The income potential gradually increases based on your performance, but it never gets to a point where I would call it "Good Income".
3. Tedious, Requires A Lot of Time:
Since you know these tasks are used to train computers, the tasks are usually incredible simple and tedious. It takes a long time to earn a few dollars! And you have to complete hundreds of tasks a day to earn enough. Overall, I don't think the time-investment is worth it.
4. No APPs (At The Moment):
Although the company says their on the app stores, I wasn't able to find any listings for their app. Granted, that might be a temporary issue while they fine-tune the details. Nevertheless, right now, they don't have an app.
Is Spare5 a Scam?
After researching the company and trying it out for a few days, I can confidently say Spare5 is not a scam. They do pay weekly, as promised, and you can easily reach the minimum cash out ($1). The answer is no, Spare5 is not a scam.
Does that mean you should invest hours of your time into the platform? Is it something that should be the focus of all your attention?
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Thanks for taking the time to read this Spare5 review. Hopefully now you know what is Spare5 and if it's a legitimate way to make money online. Leave a comment below if you have any questions!