Should You Making Money by Trading your Personal Data?

Do you know that you are already giving your personal data day by day for free?

Actually, Yes.

By signing up into Google’s search box, using your loyalty card, or debit/credit card in the grocery.  Aside from that, when you are using social media, like Facebook, Twitter, and many others. Those are simple ways of giving away your data.

Here are a few questions:

If we are building a valuable asset, why not maximize it for ourselves to gain economic benefits?

Why are we allowing other people to enjoy the profit?

And finally,

Why not give a try to use Datacoup to help you reclaim and unlock the value of your personal data.

Those are supposed to be ways on how we can make money by trading our personal data.

Datacoup is a New York-based startup company. It aims to get people interested in making money directly from their own data. They are offering to buy information picked from social media accounts. And they are also adding the new feature of gathering data from transaction flows on a debit or credit card.

This company plans to make money by charging companies. Forgetting to trends found in that information. After the details of personally identified has been removed.

The New York company startup will give you payment at a maximum of $10/month.

Let’s break it down.

Two dollars came from your social network information activity. While the $8 came from the payment of your credit card transaction. This combined data is a collaboration of Facebook, Twitter and datalogix broker. They aim to get connected with people’s data information from their social media. And relate it to their buying activities.

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Photo by Juhasz Imre on Pexels.com

Become a member

Connect your primary spending card to the datacoup platform. It is safe and secure because your username and password will never be stored in the servers. Their access is “Read-Only”.

Here are a few steps to become a member:

    • Basic demographic information, which serves as the presenter for the data
    • Connect to Facebook, Twitter or other social media account. These will provide the basic profile information.
  • Credit/Debit card connection, which provides key data of your purchase history

Until such time the buyers are ready to purchase your data. Your data is safely stored in the storage area.

What will the company do with this?

Most of them want to segment the anonymous buying data by gender, age, and location. And then locate patterns in spending behavior across different segments. By analyzing the data available, it will help them make decisions. These are helpful in enhancing their businesses.

close up of coins on table

Photo by Skitterphoto on Pexels.com

Payment rules

Here are the payment rules

    • Using the Stripe as a payment provider, you can get paid out directly to your Visa or Mastercard. And US debit card or maybe soon to your checking or savings account.
    • Once you have accumulated a small of $5, you can come back into the app and redeem your earnings.
  • Once you achieve an accrual amount of $25, we freeze any extra accruals until you come back to the app and get your money. We don’t want to allow an overhang of large obligation.

Aside from datacoup, there are plenty of ways that you can be rewarded. Either with cash, products or even experiences. You can share or trade your personal data. In any of the data-sharing programs that are available today. All you have to do is give a try to do further research about data sharing companies.

Verdict

If we are already sharing or giving our personal data without noticing it. It could be by means of signing in a different social media network. Or taking the survey, using debit and credit cards then why not using it to make some money by trading our personal data? Why not give a try to join Datacoup? Or any other data sharing programs that are available in the market today.

REFERENCES

Datacoup

Users Unite to earn from our data

Datacoup payment rules

5 Tricks to get paid for selling your personal data

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