Myiyo Review – Is It a Good Earning Opportunity?

The world of paid online surveys has long been dominated by panels and platforms who focus almost single-handedly on users from the Americas and Canada. As for Europe, it’s usually about Great Britain or Germany, and that’s about it. All other potential survey takers are having a hard time trying to find a panel that would reward their opinions and consumer habits. Luckily, there is a handful of sites that accept them as well. One of them is called Myiyo, and here’s an in-depth review to reveal you the pros and cons of it.

But wait, what’s it called again? Take it from the horse’s mouth: it reads something like “my eye oh”. And no, it’s not about eyes, mine or yours or anyone else’s. The “iyo” part stands for “in your opinion”. It doesn’t really roll off the tongue, but you’ll just have to get used to it.

Who Are They? Panel Overview

Their website struck me as sleek and elegant, which is not what I can say for most survey panels. To put it bluntly, sometimes they look as if they crawled out from some cave where the clocks were stopped back in 1992. So, having a nice site that you can easily navigate is definitely a huge advantage. If only they provided some more useful info, or at least a FAQ section. But let’s not be too grumpy unless we investigate everything.

So, what about the company? How are we to determine that the panel is worthy of our trust and can safeguard our sensitive information in an era when the social media have put all of our privacy at risk?

Well, the answer can never be 100% clear. But here’s my best guess, based on what I have seen. The panel is run by Mo’Web, a German market research institute based in Dusseldorf, Germany. Even though the team only comprises of a few dozen people, they have been in business for 15 years. They are members of numerous market research associations including BVM (Professional Association of German Market and Social Researchers). But most importantly, they are bound to adhere to European Union’s General Data Protection Regulation. That should be proof enough of their legitimacy and conscientious handling of their users’ data.

Should you have any doubts, their contact is listed on the site. There is also a contact form that you can fill out if you have a particular question.

Who Can Join and How?

Unfortunately, the panel is not available in the US or Canada as of this writing. Still, some Europeans, Asians, and Latin Americans will be happy to find out that they can become members. Here is a list of all the countries whose residents can currently take advantage of the panel.

If your English isn’t very good, you can make your life easier by switching to some of the other languages, including German, French, Spanish, Portuguese, Italian, Polish, Russian, or Turkish. No need to rely on Google’s lousy translating service!

So, if you fit the geographic conditions, either hit the “Sign Up” button in the top right-hand corner, or scroll down to the registration contact form. There’s nothing out of the ordinary. Apart from your name, email, country, birthdate, you just need to provide employment status and decision making in your household. You can even upload your photo if you want. Verify your account from email, and that’s it – you’re ready to roll.

How Much Money Can I Make Here?

Just for activating your email, you will get 100 points. When you fill it out with additional info, you will get another 500 points. Also, every successful referral will bring you 500 points.

Now, completing your profile with additional information appears to be tiresome business when you see all the fields with questions to answer. It took me some ten minutes to fill them out. And there I was, with 600 points in my account.

Unfortunately, you can’t withdraw your money whenever it suits you. For that, you will need to earn 20,000 points or more. Once I confirmed my email and completed my profile, I needed “only” 19,400 more points to be able to cash out.

As I completed my profile, there were no available surveys for me to take. But on the following day, I had a 21-minute survey worth 400 points, a 18-minute survey worth 300 points. The best bargain, it seems to me, was a 2-minute survey that would bring me 250 points. Unfortunately, I couldn’t get to complete any of them. Remember that notorious disqualification issue that’s common to most survey panels? Yep, Myiyo is no stranger to the issue either.

So, how exactly does the math work here? If, that is, you manage to get into a survey at all.

Thankfully, the numbers are round. 1,000 points will convert to one Euro (or about $1.10). Therefore, the initial, screener survey will bring you about 0.60 Euros. Let’s say a single survey takes 20 minutes to complete and brings you 300 points on average – that’s a bit under $1 per hour.

Advantages

• Points convert to cash, which flows through PayPal. One cannot but love the convenience of getting paid via PayPal. However, for those of you who prefer philanthropy, you can also choose to donate any or all of your points to Three Little Birds, a charity that assists groups or individuals who are homeless, destitute, or disadvantaged.
• They pay less badly than is the industry average. Although there are no official data on an average hourly rate for paid online surveys, in my experience, it rarely ever exceeds $0.50. Therefore, the average of $0.90 per hour does sound a bit better, even though it’s still hardly a sum to die for. It’s a pity that you can’t easily qualify for a new survey, but more on that in the cons.
• The site is modern and user-friendly. You can use it on just about any device via your browser, or download the app from App Store or Google Play.

Disadvantages

• The US and Canada are currently not in this game. I thought I should single this out as an obvious con for those of you who reside there. But it’s a piece of good news for survey takers in Europe and parts of Asia.
• “We’re sorry but you’re not eligible for this survey.” Or something along the lines. Really, how hard can it be to get into a survey? And that’s with a complete profile, when you answer all the pertinent questions. Just like most if not all other survey panels, it’s very hard to be an exact demographic match. So why do they keep asking us to take more and more screener surveys? We’ll never know.
• Surveys are scarce. Having just a couple of them every day and not even qualifying for them all doesn’t seem like a deal made in heaven.
• The cashout threshold is very high. Consider the above point about disqualifications. If they reject you more often than not, it could take months to get to the point where you can hit “Pay”.

Final Thoughts – Is Myiyo Worthy of Your Time?

Just like any other survey panel, Myiyo has its ups and downs. And I can only say for certain that it’s a legitimate panel, so you don’t need to fret about the safety of your info. As for the profits, they are considerably low – but then again, that’s what it feels like with most other panels too. Your earning potential most certainly depends on your location and demographic profile.

So, I would pass a verdict that the panel is worth giving a shot. Feel free to register and try it out for a day or two. Who knows, you might get luckier than I did. If not, it’s all too easy to quit and just unsubscribe from their emails.