Spare5 is a website that allows anyone to do micro jobs in return for small earnings. This sort of 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 IS NOW BACK TO $1. PROBABLY A RESULT OF THE BACKLASH BY DISGRUNTLED USERS.
Spare5 is part of a technology company called Mighty AI. At the start of 2017 they raised $14million in capital, 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.
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. I’ve logged in to the website and taken this screenshot to give 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.
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 as normal. 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.