Is Knowledge Panel a Scam? No, But There Are A Few Things You Should Know
If you are looking to join Knowledge Panel I’m guessing you are either looking to do so to earn a little extra money on the side, or to voice your opinions for a good cause… or maybe both. But before you join you need to know… is this place is legit or is Knowledge Panel a scam that is going to be a pain in the butt and a waste of your time?
If you have read any of my other posts then you know that I love to try new ways to make money online just for the heck of it. I have tried many paid survey sites and reviewed many more. So taking a look at Knowledge Panel was something I have been meaning to do and I finally got around to it. In this short review I’ll be going over a few things that I looked into and found out that you should know before you decide whether or not to join.
Knowledge Panel Review
- Website: join.knpanel.com
- Type: Market research panel
- Cost: Free to join
- Rewards: Checks, gift cards, coupons
- Legit?: Yes
Knowledge Panel is a market research panel run by GfK Custom Research North America. They are free to join and offer cash/rewards for participation in short online surveys.
The purpose of this panels is to conduct market research for various purposes such as tracking political trends, getting consumer opinions, etc.
How It Works
Knowledge Panel is an invitation only survey panel. This means that you will need to receive an invitation in order to sign up.
Once you are a member you will have to be able to participate in their surveys. They will send you relevant surveys based on your demographic.
Each survey that you take will generally range from 10-15 minutes and reward you with 1,000 points which can be cashed out for things of real value when you accumulate enough.
You will have to reach 25,000 points before you can cash out. Each point is equal to $1, so this means you can cash out $25 minimum.
Upon joining Knowledge Panel you will get to participate in an introductory survey which you can earn an easy $10 right from the start. So this means you will only need to accumulate another $15 or 15,000 points to be able to cash out.
With each survey giving you 1,000 points this means you will have to take 15 more surveys.
How Much Can You Make?
The unfortunate answer is…. not all that much. If you do the math you aren’t really making much money at all for your time.
As I mentioned, each survey takes around 10-15 minutes and you will earn 1,000 points, which equals $1. If you take the better scenario here and say that each survey takes 10 minutes then that means that you could (in theory) take 6 surveys in an hour and make $6.
$6/hr isn’t all that bad I guess. But the other problem here is that there is no way you are going to be able to take survey after survey after survey. There just aren’t that many surveys available.
I definitely wouldn’t expect any more than 10 surveys in a months time.
What I Like About Knowledge Panel
I have been a part of survey panels before that will sell your info. You will sign up and then all of a sudden start receiving a bunch of spam in your inbox.
If you don’t have a computer and internet connection to be able to participate in the surveys there is a chance that they will actually send you a computer and hook you up with internet. I know it sounds crazy that they will do this but this is what they claim.
I imagine they would only do this if they are in dire need of your specific demographic for surveys. So I definitely wouldn’t expect to get this. Most people probably don’t qualify as I could imagine Knowledge Panel isn’t willing to send out a bunch of free computers.
Its not like you can just go to their website and join. They only take in new panel members that they need to and these panel members are sent an invitation to join in the mail.
As with any survey panel, the pay you receive for completing surveys is minimal. You definitely not make it rich and this opportunity is best for people looking to earn a little spare change in their spare time.
Lack of Surveys
You won’t be able to take survey one after another. There just aren’t that many surveys available. As I’ve mentioned, don’t expect any more than 10 surveys a month. Many people receive much less than this and this is because certain demographics are more demanded for surveys than others.
Final Thoughts & What I Recommend
Overall, I like Knowledge Panel and what they do. They are definitely not a scam and you can trust them. The thing that I like most about this place is that they take their research very seriously. They handpick the people that they want to join and are very picky when doing so.
That said, they aren’t that great of an opportunity if you are looking for a lot of ways to make money. For a survey panel that offers more way to earn money I would take a look at SwagBucks. They have multiple ways to earn money and a lot more potential to earn in general.
However, I don’t really recommend any paid survey site all that much. They are an easy way to earn a little extra change but that’s it…. just extra change.
There are better ways to make money with your spare time. I actually make a living working for myself online and I sure as heck am not going around taking surveys online.
I have written a post on what I do to make money online, how it all works, and how others can do the same. You can click the link below to read about it if you are interested.
Comments, questions, concerns??? Leave them in the comment section below and I’ll get back to you 🙂