By MoneyCortex on February 23, 2017

Spare5 is a website that allows anyone to do micro-jobs in return for small earnings. This type of freelance work has gained popularity across the world in recent years as a way to supplement people’s earnings.

UPDATE: The change to the minimum payout has now been reversed by Spare5. It’s returned back to $1. Possibly a result of the backlash from members.

SECOND UPDATE: The company has now closed down. The original story is below.

Spare5 new logo

Original post:

Spare5 is part of a technology company called Mighty AI. They raised $14million in capital at the start of 2017. The raise was led by Intel Capital. This has seen several changes announced. One that most people have noticed is that the minimum payout has gone from only $1, up to $5.

Individual tasks are low-paying, here’s an example of how the tasks look.

Spare5 jobs value

This may not sound like a big increase because the minimum payout was so tiny before. But most of the jobs are very low-paying and it takes time to build up earnings. The screenshot above gives you an example of how much the Spare5 jobs pay. If you can’t see that image very well, please click on it to see it in full size.

What have Spare5 said?

The company has said that there will be benefits to this change. The biggest one being that it will allow them to do a better job of managing the quality of work. This means people who perform better will get more work. In turn that will actually lead to higher earnings.

The change is in effect now. You still get paid by PayPal. The cut-off for all finalized earnings is at midnight on Wednesdays. All members who don’t meet the minimum required amount of cash will have the balance carry on into the next week.

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