Quick overview:
What: Get points (and therefore money) for predicting foreign currency movements, without risking any real money.
Eligibility: Must be over 18. Outside US okay. One account allowed per person.
Platform: Web browser or iPhone or Android app.
Payout: via Paypal. $30 minimum to cash out.
Pros: Somewhat educational. Fun and strangely addictive. Very simple interface. Potential for some passive earnings over time.
Con: It could take awhile to get your first payout, and if you don’t reach a minimum points threshold you won’t earn anything.
More detail:
The goal in Spark Profit is to accurately predict the movement of various foreign currency pairs. If your predictions are correct, you win points. If they are incorrect, you lose points. At the end of the week, everyone who has surpassed a minimum point threshold (currently 20,000 points) will earn money. The more points you have beyond this minimum threshold, the more you earn. Earnings can be withdrawn to a Paypal account once you have reached $30.
It is extremely easy to get started. After signing up, they have a few very basic tutorials that explain how the site works. Then you can start playing by trying to predict the movement of 5 currency pairs:
USD/Japanese Yen
British Pound/USD
Euro/USD
Australian Dollar/USD
Bitcoin/USD
When you click on one of the pairs, it will take you to a graph of the movement of the pair for the last year, but you can zoom waaaay in to see how things have been moving by the minute. (To see a screenshot: http://imgur.com/nMLBBam.) To make a prediction, you just have to click in the right part of the screen. Select a point that you think will be reached by the end of the week. If the graph does in fact reach that point, the game will end and you earn points. (You can then start a new game for that currency.) However, you also have to choose a point in the opposite direction, and if it reaches that point first, you will lose points. In both cases, if you set the point further away, it is less likely to be reached, but more points are at stake. You can stop games early and lock in whatever gains or loses have occurred, but note that each new prediction has an initial “transaction cost” of points, so you have to use some points each time you start a new game. (This initial cost seems to increase if you keep stopping and starting new games for the same currency.)
When you first start out, there is a nice feature they call “Reality” that makes it easier to win points than to lose them. Basically, this is a percentage that any losses are reduced by. That way you won’t get discouraged while you figure out what the hell is going on. As you get more points, this gradually goes away, and when you reach 10,000, it goes away entirely.
For now, all the games end on Friday night and points are all totaled up at that point (I think they may change it in the future so you can maintain your position into the next week.) You can start new games on Monday. You keep earning money on points earned in previous weeks, but each week they do reduce everyone’s total points by some small percentage to keep people playing. Also, I think you have to login at least once a week to receive a payout.
I don’t have any earnings proof because I haven’t earned anything yet! I’m fairly new to this and I only have about 4000 points so far. But if you click on “Social” tab in the app, you can see top 100 earners for the week, how many points they have, their stats, all their past games, and other interesting info.
As far as referrals go, you can have unlimited referrals and you make 10% of whatever they make in their first year.
Hope this was helpful! Here is a link if you want to sign up:
ref: https://sparkprofit.com/intro?by=c402z5
nonref: https://sparkprofit.com/
I'll update once I get more into it/actually make any money.