My reviews on products and services always include pros and cons. Here as I will review Mylot I will follow that same pattern. But before I go into this I would like to give a brief description of what Mylot is all about. It is basically a site exactly like Yahoo answers. It has many categories ranging from religion to relationships. However, here you get to pick them as your interests to preview them after you sign in. As you post to their discussion questions you earn a few cents which get updated once a day. Much what you write must obey the Mylot guidelines. Also if you write one or two lined answers you will not make much money. Meanwhile, your answers will be graded by the users through which you will gain or lose stars. You even earn some cents for asking questions at the site. However, they cannot be related something strictly prohibited under the guidelines. Another way to make more income is from the section called task. Here Mylot users create tasks which can be sometimes available for all or only for the citizens of a specific country. Much of these tasks is leaned towards signing up for a new site, offer or writing an article.
Now let’s come to the universal and most important question of whether you can use Mylot for making residual income. The site claimes that the longest and thorough answers make more money. The result I have seen tells me yes it is true. But if you are a writer writing at other sites it will look more like a loss. This is because at Mylot you will earn the money for your long answer just once, but if you published an article on the same topic elsewhere you will keep making money for lifetime. Also not just one, but at least four or five answers each day will let you have good cents. I have to conclude this as a gain and loss dilemma. Why? As you spend minutes to make your answers longer your electricity bill will keep adding more dollars due to the computer usage. So while the cents will show up at your earning page of Mylot, your electricity bill will show a nice amount that you would have to pay. What is best is to not answer anything and save money on electricity. However, if you are using a laptop with power coming only from the battery you are winning somewhat. Another way to earn is through their referral system. For this you have to sign up people by using a link which Mylot will give you. 25 percent of the earnings made by your signed up users will go in your account. But this you have to make sure that they stay active. Otherwise, you will not be making anything from them.
As for the tasks, there is no guarantee that you will earn all the time from them. Actually, when it comes to the completion of tasks, the task makers often require you to follow specific guidelines. Failing to do so will result in rejection of what you did. Therefore, you earn nothing. Every month there are tons of writings tasks also which often pay the highest. But again, they are not for everyone, but for those who are skilled writers.
So now that you have seen so many cons should you still sign up for Mylot? The answer of course depends on your decision. Interestingly, the site is not totally bad. Use it as a substitute for Yahoo answers when you are bored. At Yahoo Answers, you gain nothing but points, but at Mylot at least what you say is rewarded with money. But it can take many months before you can reach the minimum payout amount which is $10, for the earning can go up and down due to various circumstances like deleted question. Additionally, if you are looking for referrals to boost your income at some other sites, you can use their task section to get them in exchange for a few cents.
Overall, Mylot should be used for fun or entertainment and not for earning income aggressively. Last, if you sign up for the site, remember to read their guidelines because it is important that you strictly follow them.