Survey Junkie is an online platform that connects consumers to businesses in an interesting way. The company was founded in Glendale, California and has started its operations since 2013. Participants simply fill in surveys, earn points for that and redeem their points for cash. Before launching a product, brands need to conduct market research to determine the characteristics of the demand before they come with their final product.
One way of conducting their market research is through surveys. So, consumers are provided with a cash incentive to help these companies do their research. This is beneficial for people not only for earning cash but also for having their say in market trends. Altogether, the concept of this website is efficient and beneficial for all.
Survey Junkie also offers to participate in focus groups, which would pay you more than completing surveys. However, it’s more difficult to
How to become a Survey Junkie member?
It is very easy to become a member. Just go to www.surveyjunkie.com to register. You will be required to provide a valid address and confirm that you are 13 years or older.
After registration members are asked to complete their profiles in order to use this information letter for more relevant matching of surveys to users. There is no registration fee for signing up with Survey Junkie.
Advantages of Survey Junkie
It’s more than convenient
You are probably thinking that the way this works is just too convenient. But you are not mistaken. Survey Junkie absolutely gives you the chance to earn money on a couch with a smartphone at your preferred time of the day, doing easy work. It really doesn’t matter where you are and how much time you have. As long as you have an internet connection, you can start filling a survey and earning money with Survey Junkie.
I wouldn’t say this could be a full-time job, but some of your spare time can be used to complete a survey, which doesn’t really require you to think hard. This thing is even perfect for 5 to 10 minutes time intervals.
Easy sign-up process and initial rewards
The initial registration is super fast, which requires you to provide your zip code, email address, date of birth, gender and then you need to set up a password. This is free 25 points for you when you are done.
The next 50 easy points are earned by answering 16 questions about your preferences to complete a profile.
Confirming your email is the next step. And by that time you will have earned 100 points, i.e. your first buck.
Survey Junkie pays people through 3 methods – cash using PayPal, popular e-gift cards and direct bank transfers. Those gift cards include the ones that you would really use such as PayPal gift cards, Amazon e-gift cards or other big retailers’ gift cards.
Compared to other online survey platforms, Survey Junkie has chosen to keep things simple. Other websites complicate things and require you to do tons of stuff and it can be difficult to figure out what you are supposed to do for money. However, with Survey Junkie there is one simple job you should do, and that is to fill in surveys.
You get points just for trying
Not all surveys are created equal and you may not qualify for a certain survey you wish to take. However, if you find out you don’t qualify for a particular survey after beginning the process itself, Survey Junkie will reward you with 3 points just for giving it a try. So, Survey Junkie values your time and doesn’t really make you waste it for nothing.
Disadvantages of Survey Junkie
Of course, Survey Junkie has great benefits, but it also has some disadvantages. It’s worth to look at these drawbacks to fully understand what the platform is like.
Surveys fill up quickly
There is a limited amount of consumers that are needed for a single survey. So, you should be on time if you want to complete a survey online.
Considering the fact that the Survey Junkie community has more than 10 million members, it is easy to miss out on surveys and mist the opportunity of earning money. It can sometimes be annoying to click to start a survey and find out that it’s filled up.
Doesn’t work equally well on all devices
Of course, the website is accessible from all devices that can have access to an internet connection. However, completing surveys on a phone and on a laptop is not really the same.
As you can probably guess, computers are the most convenient for the job due to the large screen and ease of navigation. You may sometimes find it inconvenient to complete a survey on a smartphone.
You may not qualify for some surveys
You need to spend some time answering questions before you can actually start the survey. These questions are intended to verify that you are qualified or the right person to pass the survey. So, if eventually, you do not qualify, the time was wasted (although you will be awarded with 3 points just for trying).
Subjects are not specified on surveys
This is one of the most significant drawbacks. It’s inefficient to participate in a survey without knowing if the topic is interesting for you or if you can really offer any value. The topic may be such that you just don’t have any relevant opinion to share. It would be really time efficient for people to be able to view the topic before giving it a try.
The money you earn is not significant
As I said, this cannot replace a full-time job. Surveys typically pay $0.5 t0 $3 for completing each of them. However, you cannot do this all the time and still you may not qualify for some surveys.
So, the money earned with Survey Junkie is really not that significant, but it doesn’t mean that anyone would mind earning a little cash just for sacrificing some spare minutes on a monthly basis.
Who is Survey Junkie most suitable for?
People who like giving their opinion – this platform involves very satisfying activities for people who like to have their say. Modern trends and products are dictated by the results of market research and demand patterns represented by our preferences. I am sure there are a lot of people out there who would enjoy playing a role in this.
People who don’t mind extra cash – you won’t become rich by completing surveys for businesses. However, some people don’t really mind earning a little more cash by putting in very little effort.
People who have short free time intervals – if your routine provides you with short time windows and you just don’t know how to use this time efficiently, completing surveys for money may be a good solution for you.
Who can become a Survey Junkie member?
Any resident of USA, Canada or Australia aged 13 or higher.
How do you earn points?
Points are earned through successfully completing surveys, profile questionnaires or referring friends to participate in activities in Survey Junkie. If an action displays points inside a green button, then you’ll know it is rewardable.
How can points be redeemed?
Once a minimum of 1,000 points have been accumulated in your account, you can redeem these points through one of the following methods:
- Cash through PayPal (available in the USA, Canada, and Australia)
- Popular e-gift cards (available only in the USA)
- Direct bank transfer initiated by a third-party partner (available only in the USA)
Every 100 points are equivalent to a single US dollar.
For US PayPal users, you should complete two of the following 3 actions to verify your account:
- Link your bank account and confirm
- Verify your credit or debit card information
- Provide a Social Security Number
Redemptions of points through PayPal and e-gift cards may require additional confirmation of your account over the phone with a customer support representative.
For the redemption of points through bank transfer, you will need to provide a unique US bank account and routing number.
How difficult are the surveys?
The level of difficulty is quite low. However, what’s needed is proficiency in reading and writing in English. It is also important to give honest opinions when completing the surveys because your responses are the foundation of this platform and market research for businesses. Each survey takes about 15 minutes on average to complete.
How often do people receive surveys?
Newly uploaded surveys are available on Survey Junkie every day and emails with new invitations to participate are sent to members’ email addresses. So, make sure to check your email to be up-to-date with new survey invitations.
4.5/5 stars out of 12,665 user reviews
4.5 stars out of 5 is pretty great with 68% of review writers giving 5 stars to the platform.
Most of the positive comment providers like the simplicity and ease of use offered by Survey Junkie. Others claim to be having fun during the process as they like expressing their opinion. People also agree that this is surely one of the easiest ways of earning cash with Survey Junkie paying out the redeemed points on time.
Nevertheless, no website and online platform is free from criticism. Some users complain about the customer service, which they think is not perfect. The reason for this is that they do not respond to customers’ queries on time. Other negative comment writers disclose that sometimes they encounter technical problems while filling in surveys.
One person claims that he had answered 90% of the survey’s questions and then the website just stopped working and he couldn’t finish the questions. Another source of complaints is the time wasted on surveys, which people do not even qualify for.
I will go straight ahead and recommend you this website if you are interested. It is not a scam, no fake offers and most importantly you will earn your money. Surely, there are plenty of online platforms out there that just don’t have the reputation, but Survey Junkie is well known for its legitimacy. So, you can absolutely trust the information that you read on their website about their terms and conditions.
Looking at the benefits and drawbacks, I think that the benefits outweigh. Everyone is looking for ways to earn money effortlessly these days. So, you have got it now – a surefire way to earn cash easily. There are a few problems regarding the technical aspects of the processes in Survey Junkie, but they are not too significant and would probably not influence anyone’s decision if there is interest.
Most importantly, consider the benefits it can bring to you. Depending on the type of person you are and depending on your daily routine, you can assess if this kind of a job is a right fit for you. Definitely, do not quit your current job for this as Survey Junkie will not pay you much. But, let’s say you need some extra income for a certain purpose, this is definitely for you. A lot of people answer survey questions to be able to afford to go on a holiday. This cannot be your core income, but can surely be a nice addition to it.
Bullish? On-Exchange Bitcoin Declines While Whales Accumulate (Report)
A recent report suggests that the amount of Bitcoin stored on exchanges is declining while BTC whales increase their holdings and that’s bullish for Bitcoin’s price.
The paper also highlighted that investors have a much larger time horizon for their holdings now compared to previous years.
Bitcoin Stored On Exchanges Drop
In its latest report shared with CryptoPotato on Bitcoin investors’ behavior, the popular research company Digital Delphi explored the number of bitcoins stored on cryptocurrency exchanges. The document indicated that if the BTC stock on platforms increases, it could put sell pressure.
However, this isn’t necessarily the case during bull runs, as retail investors often “leave BTC on exchanges and traders use BTC as margin collateral.” Alternatively, in case the asset price rises while the stock on exchange decreases, this typically implies an accumulation trend.
The report indicated that Bitcoin stored on exchanges marked an all-time high of 2.96 million in mid-February. Since then, the trend has reversed, and the number has dropped to below 2.6 million.
Digital Delphi argued that the reason behind this decrease of BTC on exchanges is because investors are most likely preparing for a longer-term holding period. More importantly, though, the paper highlighted a substantial decline in speculative trading interest in Bitcoin, while the HODLing mentality has increased.
“Unlike the 2019 price uptrend, which coincided with BTC stock increasing, this current trend has seen a divergence between BTC stock and price. This suggests a more sustainable move upwards for BTC, in comparison to that of 2019, as data indicates a holder base with longer time horizons.”
Bitcoin Whales Haven’t Slowed Down Accumulating
Digital Delphi’s data reaffirmed previous reports that Bitcoin whales, meaning addresses containing between 1,000 and 10,000 BTC, continue to accumulate large portions. The company outlined that whales have been on a shopping spree since the start of 2020, as their holdings have increased by 9% YTD.
Moreover, the US Federal Reserve’s actions to print extensive amounts of dollars since the start of the COVID-19 pandemic have accelerated whales’ accumulations.
“Since the USD M2 supply expansion in March, there has been a 7% increase in whale holdings.”
According to the document, this only emphasizes the narrative that Bitcoin serves as a hedge against dollar inflation, and “the smart money is clearly betting on this.” It’s worth noting that prominent US investor Paul Tudor Jones III purchased BTC earlier this year to protect himself against precisely the rising inflation.
US Crypto Tax Avoiders Beware: The IRS Updates 1040 Tax Form
The Internal Revenue Service (IRS) seems to have found a way to block crypto tax evasion, following an update of its tax form.
IRS: No Excuses for Crypto Traders
According to the Wall Street Journal on Friday (September 25, 2020), the IRS is planning to alter its 1040 tax form. The revised tax form will see cryptocurrency holders give a straight answer about their crypto activities.
The IRS has been relentlessly pursuing crypto investors to disclose transactions, as it suspects that many taxpayers were guilty of tax evasion. However, the tax administrator looks like it has found a way to make all Bitcoin holders accountable.
Presently, the tax form will mandate crypto traders to answer a” yes or no” to the following question:
“At any time during 2020, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?”
What makes the update interesting is the placement of the above question. Prior to the revised tax form, the question appeared in a section where taxpayers were not mandated to fill the answer. However, the question’s position in the altered tax form just below the taxpayer’s name and address leaves no room for excuses or oversight on the part of the crypto trader.
Reacting to the altered form of 1040 was Ed Zollars:
“This placement is unprecedented and will make it easier for the IRS to win cases against taxpayers who check ‘No’ when they should check ‘Yes”
There have been complaints in the past about the lack of a robust regulatory framework for crypto tax filings. In October 2019, the IRS published new tax guidelines that would supposedly make it easier for crypto investors to file taxes. The U.S. tax agency also sent reminder letters to crypto holders. Earlier in September, the IRS announced a payment of $625,000 to anyone who could crack Monero and Bitcoin’s lightning network.
Governments Keen on Crypto Taxation
While the IRS seems to have devised a means to trap crypto holders, more countries are introducing crypto tax laws and clamping down on offenders.
As reported by CryptoPotato in April, Spain’s tax administrator sent out notices to 66,000 crypto investors, as against the 14,000 notices sent in 2019. South Korea, on the other hand, has been unsteady about taxing cryptocurrency.
Earlier in 2020, South Korea’s Ministry of Finance and Strategy revealed that there were no intentions to tax crypto profits. However, reports emerged that the Ministry was considering imposing a 20% tax on profits from crypto trading. In June, the country’s Finance Minister called for the imposition of tax on cryptocurrency trading gains.
Australia’s tax agency, the Australian Taxation Office (ATO), sent out reminders to 350,000 crypto traders in March about their tax obligations. According to the ATO, crypto investors were to keep a comprehensive record of their trading activities for ease of tax payment.
Chinese State Media Report: Cryptocurrencies Are The Best-Performing Assets Of 2020
Although China still categorizes Bitcoin and other cryptocurrencies as illegal, several state-owned media outlets purportedly ran reports describing them as the best-performing assets since the start of the year.
Bitcoin And Crypto Run On Chinese Media
A popular state-owned media under the name Xinhua News Agency set the tone yesterday by citing a Bloomberg report titled “crypto is beating gold as 2020’s top asset so far.” Apart from summarizing Bloomberg’s narrative, Xinhua added that cryptocurrencies are “decentralized financial instruments” and concluded that they have become “the best performing asset class this year.”
Another digital asset coverage followed today on China Central Television (CCTV) – among the most popular broadcasting services in the nation. In a three-minute-long video clip, CCTV spoke about cryptocurrencies and emphasized on their year-to-date performance. More specifically, the clip focused on their 70% price increase this year.
According to a popular cryptocurrency commentator Dovey Wan, this “interesting propaganda” spread out among other outlets, being featured on all “avenues, newspapers, online media, and TV.” The advertised narrative was the same – that digital assets have been outperforming all other investment instruments.
Binance CEO Changpeng Zhao commented that people might not understand the significance behind this coverage, but “it is big.”
However, Wan raised a compelling question – what’s the real intention behind this move? After all, cryptocurrencies remain banned for official usage within the world’s most populated nation. She speculated that this coverage might have something to do with the Chinese central bank digital currency that’s reportedly being tested.
China Behind The Price Pump?
As CryptoPotato reported earlier today, green dominated the cryptocurrency field with the total market cap increasing by about $20 billion since yesterday.
Historically, news and announcements from China have undoubtedly impacted prices. As such, it wouldn’t be a surprise that the two-day media coverage promoting cryptocurrencies as the best-performing assets in 2020 has affected the market to some extent.
In late 2019, President Xi Jinping urged the country to accelerate its blockchain adoption. In the next few hours, the cryptocurrency field experienced some of its most impressive price pumps in history. Bitcoin alone skyrocketed by 42% in hours.
Less than a month later, country officials clarified that being pro-blockchain didn’t mean a positive attitude on cryptocurrencies. After reaffirming that digital assets are still illegal, their value plummeted in response.
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