👟 Sweatcoin is a fast growing health app that rewards you in your own currency (Sweatcoins) for walking. You can use the Sweatcoins you earn to buy rewards on the Sweatcoin Marketplace. The idea is very good and it is growing in countries like Brazil, so far they are rewarding users correctly. Sweatcoin will be converted to SWEAT token later in 2022 and will have more use cases. In the article below we will talk about how the Application works and if it is possible to make money using Sweatcoin.
In this article, we will discuss:
What is Sweatcoin?
🏃 Sweatcoin is a free app that rewards your daily steps with a new generation currency that you can spend on cool products, donate to charity or convert to SWEAT. Because when you take care of your health, you benefit society. You are more productive. You help save billions of dollars in healthcare. Your movement has value: you deserve a share in it.
Sweatcoin says it aims to convert users' physical movements into cryptocurrency-linked value. The company recently revealed details about its upcoming token, SWEAT. It is designed to reward your app users for being physically active. According to the company, the SWEAT cryptocurrency was designed to create value from people's movements. It also claims that the minting process would be based on the physical activities of the users. It seeks to inspire people to improve their health, even if they earn through the platform.
How does Sweatcoin work?
Sweatcoin 🏃 works by using your smartphone's built-in features like the accelerometer and GPS to track your steps using its algorithm. Once verified, your steps are converted into Sweatcoins. The app uses Google integration to quantify user steps in the background. That is, you don't have to keep the app open while moving for the steps to be counted.
You can spend these sweatcoins in the app in the “spent” section. 1.000 steps = 0,95 Sweatcoins. A small 5% commission is charged per sweatcoin created. This is so that they can keep the project running smoothly and continue to provide Sweatcoin to everyone. Sweatcoin was created out of a desire to help people move more and stay motivated along the way. The team is passionate and wants to deliver you the best product possible, but they understand that there are still some things that can be improved.
After downloading the app, here are the steps you need to take to start earning. Firstly, after opening the app, there is a form that you will have to fill. It contains only simple personal information. Also, you would need to verify that you are in compliance with the app that tracks your daily steps even when it is turned off.
By collecting a few coins or more, you can exchange them for offers in the in-app marketplace. These offers can be absolutely anything – digital watches, online subscriptions, food, drinks, shoes, clothing, running gadgets, music/software downloads, digital services, and more.
Challenges
- How do community challenges work? Who can join? – Community challenges are crowdfunding campaigns that lead users towards a collective step goal. Funds are unlocked for the campaign when users contribute enough to reach the milestone goal.
- Do I earn sweat coins for participating in a community challenge? – You earn sweatcoins with your steps as usual. There are no additional sweatcoins awarded to users for joining a community challenge.
- Will my hike sweatcoins be donated to the community challenge I participated in? - No. When you take part in a community challenge, they don't take the sweatcoins you've earned with your steps. Instead, they count their steps toward the collective step goal. If you want to donate your sweatcoins to a good cause, check if there are active Sweatcoin for Good campaigns on the market.
- Can I participate in a race and challenge at the same time? - Yes. You can participate in a race and a community challenge at the same time. You can also participate in as many active and ongoing races and community challenges as you like.
- Who funds these challenges? – Sweatcoin funds community challenges. They believe it's important to motivate people to move more for causes they care about.
Can I withdraw my sweatcoins to Paypal/bank account?
It is currently not possible to withdraw sweatcoins via Paypal or bank transfer. There is no option to withdraw your sweatcoin balance for real money, other than PayPal or Amazon voucher purchases (which regularly appear in auctions). Also, if you invite a lot of friends and are part of the influencer market, you will also see offers from PayPal!
For now, spend your sweatcoins in the marketplace with brand partners and bid on amazing items with your sweatcoins with the Auctions Feature! There are new deals available daily, so if you don't find something that's right for you one day, check back! If you're in the mood to donate, you can also donate your sweatcoins to amazing and worthwhile causes using the Sweatcoins For Good feature. They regularly feature different NGOs and charities, from environmental to humanitarian initiatives.
What are the different Sweatcoin subscription plans?
Sweatcoin is available in two different plans:
You can try the Premium plan for free for 7 days. After the free trial, you can pay for Premium monthly or annually. For the latest prices, see the Sweatcoin app. They offer deep discounts for the annual Premium plan.
*Please note that the Premium plan is subject to a fair usage policy. The daily limit for the Premium plan is 100 Sweat Coins, which equates to more than 52.000 steps. Depending on your stride length, this equates to running 1 or 2 marathons daily. As a health-focused company, they recognize that anything in excess can be bad. Therefore, they have implemented a fair use policy, not only to prevent fraud, but also to ensure that users do not compromise their health to earn sweatcoins.
Sweatcoin racing
A run is a month-long game that challenges users to complete a step goal (eg 250.000 steps) within a month. Anyone with a Sweatcoin account can participate in a race. All users who finish a run (or reach their step goal) within the month receive bonus coins in addition to the ones they earned with their steps.
Can you wear wearables like Fitbit, Apple Watch, Garmin or Android Wear with Sweatcoin?
Currently, Sweatcoin only tracks your steps on iPhone, Android smartphones and Apple Watch (except series 1).
One reason they don't currently integrate with all wearables is that the algorithm removes steps that aren't likely directly from exercise (up to 30% of steps on certain wearables can come from other means) to eliminate the possibility of cheating. However, they are currently in talks with some of the top wearable brands to integrate Sweatcoin into their products.
Promoting Sweatcoin: Social Media Influencers
From time to time, Sweatcoin works with social media influencers to help spread the word about Sweatcoin's mission. Currently, however, the best way to promote Sweatcoin is by inviting friends using your friend referral link. After successfully inviting 30 friends, you will become one of Sweatcoin's influencers this grants you exclusive access to the influencer marketplace!
What to do with Sweatcoin Coins?
- Spend on Marketplace – Choose from thousands of fabulous branded products and services on the Sweatcoin marketplace, from high-tech shoes to iPhones, anti-gravity yoga classes, Apple Watches and more!
- Donate- To a variety of environmental, humanitarian and animal conservation causes
Where to buy the SWEAT Token?
The SWEAT token can be purchased on several major cryptocurrency exchanges, some of the biggest are: OKX, MEXC, Bybit, FTX, KuCoin and Gate.io.
What is the release date of the SWEAT token?
Sweatcoin co-founder Oleg Fomenko said the company plans to bring about a change in society by encouraging individuals to live healthier lives. He added that the company did not think of a crypto reward program at first because cryptocurrencies were not widespread in 2015. Then, he said that the company developed the Sweatcoin token to reward users.
The company also plans to offer users the option to exchange their in-app Sweatcoins for SWEAT tokens at a 1:1 ratio at a token generation event scheduled for the UK summer. Users would receive a Sweat Wallet, which would generate fees, enabling a set of decentralized finance (DeFi) functions such as exchanging SWEAT tokens with other cryptocurrencies, liquidity provisions, staking, etc.
Sweatcoin has finally announced a specific date and we now know that the new SWEAT token will launch on September 12, 2022.
Can Binance List SWEAT Token?
There is still no official statement regarding the listing of the SWEAT cryptocurrency on Binance. If we take into consideration that binance is a project sponsor STEPWOMEN (GMT) competitor of Sweatcoin, we may consider an initial listing difficult to happen at this first moment.
However, as the application is already being used by millions of people around the world, a fact that we can already consider as a real demand, this is basically the ideal project for any Cryptocurrency exchange.
Is it possible to earn money with Sweatcoin App?
Yes. Every step you take earns you a fraction of a Sweatcoin. It takes 1.000 steps to earn a Sweatcoin. If you are an active person and take a lot of steps during the day, you can earn ten times more Sweatcoin. The app offers a marketplace and an auction section. It also allows you to donate your sweatcoin to a fixed list of charities. Best of all, you can also exchange your sweatcoin for Bitcoin.
How much is 1 sweatcoin worth?
At the time of publishing this article, the cryptocurrency of the Sweatcoin app is worth around $0,05, although this number is subject to change by the project team. With the App coins you can buy any product you want at a discount.
The same goes for buying products using your Sweatcoin. Like everything else, you need to walk 1.000 steps to earn a Sweatcoin. Currently, a $20 Amazon voucher costs 8.000 Sweatcoin, so you will need to walk a lot to buy this product.
In any case, you won't be able to get much out of one or two thousand steps. Offers usually start at five or more Sweatcoin, but are usually for discounts, not physical products.
What is the future of Sweatcoin?
The team behind Sweatcoin is talking to local and national governments, who share the vision of a more active and healthy society. They are also partnering with healthcare providers and insurers to create an even greater incentive for future change.
The team sees a future where SWEAT becomes a currency for everyday use such as grocery shopping or even paying your taxes. So note that earning SWEAT today could be a smart investment tomorrow. Join thousands of users on this journey. Download Sweatcoin today and never walk for free again.
Is Sweatcoin a Good Investment?
Yes, the app has shown signs of growth with thousands of people downloading the app weekly. Sweatcoin does not seem to be entering limbo as soon as many crypto projects.
In a year or two, the sweatcoin cryptocurrency may appreciate more than projects like STEPN (GMT) and other concept coins. Move to Earn🇧🇷 So if you walk a lot and want to convert your daily steps into cash or goods and services, consider downloading the app.
Is the Sweatcoin app legit, is it worth installing 🏃?
Sweatcoin is not a scam, and you can actually get products for free or with discounts by using the App to track your steps. However, the app still has its limitations in terms of what you can buy and where, so it will let you down if you're looking for real money.
If you like walking or jogging, or want to get moving, the Sweatcoin app is a great one.
Conclusion
Currently the Sweatcoin App checks steps like a Motion Validator. Over time, the Foundation will decentralize the motion verification process to allow other apps and wearables to verify new forms of movement, paving the way for users to earn SWEAT for swimming, cycling, walking, gymnastics and more. SWEAT will become harder to mint over time, which means the sooner you walk, the more value you'll get.
