Posted by William Charles on July 7, 2019
Brokerage Bonuses

Published on July 7th, 2019 | by William Charles

126

COIN Brokerage: Invest $100 & Get $50 Bonus With Promo Code COIN2019

Update 7/7/19: Deal has been extended until July 31st, 2019.

The Offer

Direct link to offer

  • COIN is offering a bonus of $50 when you invest at least $100 with the promo code COIN2019. Must keep the $100 in your account for at least 90 days

The Fine Print

  • When you open a COIN account during the term of the promotion and transfer at least $100.00 into it and keep it in your account for at least 90 days, JHPFS, LLC will make a one-time deposit of $50.00 (“bonus funds”) into the cash balance of your COIN account after the end of the 90 day period
  • This promotion is available to new customers opening accounts on the COIN platform and is valid until June 30th, 2019.
  • To be eligible for the bonus funds under this promotion, a new COIN customer must enter a valid promo code when prompted during the account opening process.
  • Only one bonus funds deposit is available per COIN customer.
  • This promotion is not available to current or former COIN customers.
  • COIN reserves the right to amend or terminate this offer at any time, and to limit account bonuses you are allowed to receive, and to refuse, withhold, or recover any and all bonus funds if COIN, in its sole discretion, determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms of the COIN agreements have been violated.
  • This promotion is available to U.S. Residents only and is not available to employees of John Hancock or any of its affiliates. COIN is not responsible for any failure on your part to meet standards for qualifying for this promotion.

Our Verdict

When signing up with COIN you need to select three impact areas (eight to choose from total), these are used to build your portfolio. Impact areas are:

COIN charges an annual fee of 0.75%. Personally I wouldn’t bother with this for actual investing, but seems a relatively easy way to get $50. I’ll add this to the list of the best brokerage bonuses.

Hat tip to Andrew D and pkim101



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Dennis
Dennis

Was there a field to enter the code? I just signed up thru the link.

Alex
Alex

Ya there was. It was kind of hard to see at first it blended in with the page but it was definitely there

Beefer
Beefer

Yes when signing up there was a field

yoshi
yoshi

is the field to enter the code at the beginning or at the end of the sign up process? I can’t find it either and don’t want to sign up without entering in the promo code.

Hari
Hari

It was almost early on.

Mimi
Mimi

There is a blank space to enter promo code before you enter your personal information.

yoshi
yoshi

i see it now, thank you. It kind of blends in with the web page.

john m
john m

I didn’t see it either. Hope they can manually apply it. Did you get to apply the code?

Dennis
Dennis

I emailed customer support.

Matt
Matt

I emailed customer support as well. They got back to me promptly and said they applied the code. Make sure to save the email in case they don’t.

Dennis
Dennis

Thank you, I got the same kind of email from customer support just now.

Hari
Hari

Anyone got email confirmation of code applied? I did use the code during sign up but there might not be a way to prove that if I do not get the $50 later

Mimi
Mimi

I did not get a confirmation email but I made a screenshot of the Promotion Terms and Conditions while logged in to my account as proof of the SUB terms I signed up for.

SK
SK

My initial deposit will be an investment? Or just added to my account as available funds

Hari
Hari

I wasn’t aware of it as well earlier but seems like its getting invested. I am already up about 5% as of today.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Applied with identity verification pending. No obvious sign of any referral program.

Beefer
Beefer

Applied and approved in less than 2 minutes. Some good small time brokerage bonuses lately. Thanks doc!

CtownBin
CtownBin

$50 is relatively low for a bank account bonus, usually the reccomendations I’ve seen are not to go for o ones that low. So why is this one different that it’s worth it? Is it because it’s a brokerage and not a regular checking? Easier to do? Doesn’t add to your history and reduce likelihood of getting approved for higher checking bonuses later? Just trying to figure out what the downside is before I bite for only $50, and understand more how brokerage bonuses differ from regular checking.

JT
JT

Most of the time, bank bonuses can be measured in terms of APY. Getting a bonus by only tying up $100 makes it worth it.

dizzy
dizzy

Thank you so much for including these DoC. I don’t have tons of $ lying around, so I really appreciate these where you don’t have to tie up too much and for too long.

CryptoChrist
CryptoChrist

50% return in 3 months is damn good!

Jon
Jon

What if I told you I knew of an account that matched 100%? Just deposit $1, and in 90 days they match you straight up. Doesn’t seem too great now does it?

End of the day 50 bucks is 50 bucks. Its sort of at the minimum “worth the effort” threshold. It can’t possibly fall into the “damn good” category

storm
storm

By my calculations, you would have to find a savings account or investment that earns 12.5% annually to equal the same return. If you know of something else that pays that well, let me know.

Ben
Ben

Your math is wrong. Jon’s comment was a hypothetical 100% match in 90 days. That would be 1500% APY, not 12.5%.

And such deals do exist. There are plenty of credit cards that will give you 100% cashback for up to $1 per billing cycle. Only they won’t call it cash back, they’ll call it “low balance forgiveness”.

Danno
Danno

Idk, I’m never going to be above $50 with terms like these. It’s literally free money with three minutes of effort.

Snorlax
Snorlax

1) Much easier/less “gotchas” than checking accounts.

2) Incredibly accessible for a newcomer or someone who has less income/money.

3) Very low amount of money to tie up, most people aren’t going to have trouble paying rent because they can’t spend $100 of their money.

4) Possibly counted differently than bank accounts for history. Probably no involvement of Chexsystem

5) Huge APY.

FullChurn
FullChurn

applied, current status “ACCOUNT VERIFICATION IN PROGRESS”, can’t make the necessary deposit right away.

update: verified within 5 minutes, can now deposit.

Matt D.
Matt D.

It’s taking 10 minutes to send me a verification text to my phone that expires in 6 minutes so wonder if I should try again later.

Matt D.
Matt D.

OK got it to work, don’t be impatient like me and ask to send the code again, just wait for the slow text.

RedEyes
RedEyes

what are the funding options?

Vy
Vy

Link consumer banking account using banking login/password.

RedEyes
RedEyes

I signed up … I would rather them give us the routing # and account # so I could link to them as oppose to handing over my log in information to my bank. It they get hacked … they have access to my entire account.

Andrew
Andrew

You can also use acct/routing numbers, you just have to close-out the Plaid account-linking prompt (by clicking the X) and try again. On your second go-through, you can enter account numbers instead, or opt back into the Plaid quick-link.

Note that routing and account numbers are also sufficient info to drain your account (via, e.g., check fraud), because bank accounts just fundamentally aren’t rigorously secure. 🙁 (Anti-fraud laws and banks’ anti-fraud procedures do a decent job of patching this weakness, though.)

Celia
Celia

I keep a personal checking account for PayPal transfers that work great on these type of offers. There’s rarely any real money in it for any length of time. (set it up after someone drained my nephew’s account through PayPal despite having no PP account or online access).

RedEyes
RedEyes

I don’t have much in this credit union (no fees, no minimums) so it will work for this … good to know about the technique to obtain the account numbers so the link can be established from the bank side. Wish I was smart enough to try that.

Ben
Ben

I’d always choose to deal with check or ACH fraud using the routing and account numbers over stolen credentials.

With stolen credentials, the assumption (prima facie evidence) is that the transaction is authorized. And in the case of Plaid, you did in fact voluntarily share your password with a third party. So the bank will take the stance that you authorized Plaid to take any and every action you could have taken, and it’s up to you to prove that it wasn’t Plaid but another party that stole your money.

Obviously, this is worse yet if a Plaid-lookalike attack tricked you into giving credentials directly to criminals.

Plus, the credentials give access to additional accounts under the same bank login, and ACH access to any external accounts linked in the compromised account.

CryptoChrist
CryptoChrist

https://my.plaid.com/
This is the service utilized by many 3rd party applications to log in to bank accounts. Feel free to read up on it, as it may help your nerves. COIN does not gain access to your login credentials through this service.

RedEyes
RedEyes

that does help a bit, thanks for sharing.

BG
BG

Thanks, worked for me, entered the code, verified in a few minutes and linked an account with Plaid and made the $100 transfer.

ken L
ken L

i dont feel comfortable putting my money on some unknown company. i feel safer when my money at Etrade, TDAmeritrade, Chase.

Andrew
Andrew

It might help ease your mind to know that COIN is owned by John Hancock (aka Manulife), an international life insurance company worth over 1 trillion dollars: https://www.johnhancock.com/news/corporate/2019/03/coin–a-values-based-investment-platform–launches-to-offer-personalized-portfolios-aligned-with-united-nations-sustainable-development-goals.html

Celia
Celia

It’s backed by John Hancock Personal Financial Services, LLC

Barkley
Barkley

ID verification pending.. they make the promo code box almost invisible.

K
K

Do you have to do anything with the $100 or can you just leave it for the 3 months until the bonus comes?

David Bartels
David Bartels

Appears you need to invest it- I was required to choose 3 “Impact Areas” when signing up.

From the FAQ:
“When you create your COIN account, you select three Impact Areas to invest in, and we’ll create a custom portfolio of companies working to make positive change in the causes you care about.”

active
active

answer this question will why so not clear do we need activity dude

Ann
Ann

Uh, your comment is not so clear.

Eli
Eli

There is no place to actually paste the code!

It created the account but not spot for the code itself even after i ran the wizard several times on different browsers which makes me suspect that this is a bait and switch situation.

Double check!

Andrew
Andrew

It’s on the page where you enter your email address and choose a password, directly below the password requirements (ending with “Number, symbol, or space”) and directly above the checkbox to opt-in to emails. It has the placeholder text “Promo code” in it. Does it not show up for you?

Bob
Bob

Andrew:
Thanks for the detailed info, you made it easy for me.
Did one for me and one for SO.

BTW, their expense ratio is high by today’s standards, There are better choices out there. It might be OK for someone just starting out.

Eli
Eli

Thank you. Used with chrome and didnt see it.

Jorge Ramos
Jorge Ramos

I opened this account with the offer code about a month ago. Will report back when the bonus hits.

K Johnson
K Johnson

Unrelated but just used your Pei code; thanks for you contributions to DoC 🙂

E
E

Must be a US citizen or permanent residence. 🙁

Staradmiral
Staradmiral

Email them. I am on a work visa and was able to do Swell, webull, and other bonuses. They said I qualify as a resident for tax purposes.

sascha
sascha

whats their email address ?

Martin
Martin

Also they ask for “US Citizen or permanent resident” on the home address page, which is after the page where you provide your SSN. They should state their citizenship requirement at the beginning of the application.

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