Sell Your Own Data With Datawallet
Here’s how you can make money with your smart phone and internet use. As our lives become increasingly focused on the internet, most people have noticed something: nothing is free, so if you’re getting something for seemingly nothing… you’re the product. This is the thing which funds social media and a lot of sites, your data is being sold to analysis firms who are constantly working on their algorithms.
Datawallet is one of those sites which is trying to help users get their control of their information back. While they can’t prevent media giants from selling your data, they can make sure that you at least receive some compensation for it.
How it Works
It’s pretty simple, in theory, you make an account at www.datawallet.io and from there they’ll sell your data. It’s anonymous as well, since your data will be pooled for people focused on analysis to go through. This keeps your information private, while allowing you to profit from it.
Now, we’re not talking huge amounts of money here. Your data, singly, isn’t actually worth all that much. Instead it’s the large accumulations of data received which are worth the big bucks, but since you don’t have to do anything other than make an account in order to profit it might be worth it.
Their site says that the going rate for data is $1-$50 per sale. Unlike some of their competitors, Datawallet allows you to pick and choose which types of company your information will be released to. This can be useful if you’re particularly picky, but you might be best off with a scattershot approach if you’re trying to make some money.
Datawallet is extremely new on the scene, and they’ve been experiencing some trouble getting off the ground. Their app, at the time of this writing, only has two one star reviews. This is probably due to launch issues and hopefully it will get resolved soon. It does show something of a lack of foresight on the part of the developers however.
They’re not the only ones offering this service, their main competition will likely be DataCoup for now and that site is fully functional and easy to use.
A quick look over their site also shows that they were a lot more focused on bringing in people who want to buy the data given to them than those whose data they are selling. It’s a no-risk proposition for those who are selling the data, but it shows where the company’s focus is at.
If they manage to get the app functioning properly, however, they may be able to present a proper challenge to DataCoup and their tighter controls on the user’s end should allow for those who are more discerning to be able to pick and choose the companies they want to sell to.
At the moment it seems they’re primarily selling data to social media sites, which means that the data you’re producing is just being sold cross-platform. If you’ve been using the internet for awhile, you’ve probably noticed that this is happening anyways so it’s probably not going to make too big of a splash.
It’s more likely to turn into a useful tool for those starting businesses over time, if they can maintain the user base they’ll need in order to get things going.
With an app that’s hard to get started and a primary focus on selling the data they receive, it’s unlikely that Datawallet is going to make you much money at the present moment. It might be a company to watch though, and it might also be lucrative to use multiple data-selling companies in the near future in order to generate some revenue from selling the details of your browsing and selling habits.