There are many reasons why people do not exercise, but the major one is lack of motivation. As much as losing weight and staying in shape is good, working out can become a very boring venture. Some people start working out, and they stop immediately because they lose interest or do not see the desired results in the shortest time. This is where Sweatcoin can help by providing additional motivation to stay active.
This lack of motivation is the reason for the development of Sweatcoin. This coin is a currency that encourages exercise and keeps you fit by rewarding you financially for healthy living.
Each time you leave your bed or couch and do any minimal exercise, the app records the points you have accumulated by tracking your movements and then converts them to cash you can use to purchase stuff.
What is Sweatcoin
It is a mobile application developed to track your every movement every day. The steps you take are converted into cash for buying stuff. The idea is to get incentives as long as you decide to keep fit. So, Sweatcoins aims to make you look and feel better by rewarding you with cash for staying healthy through exercise.
Is Sweatcoin a Scam Coin?
It is not a scam; it is a legitimate platform that pays you for walking. Yes! Sweatcoin pays you for walking. The more walks you take, the more money you will make.
Although the money you will make in a week using the app while walking may not reach hundreds of dollars, it will be quite some amount. I had to mention this point so as not to set unrealistic expectations.
The amount you can make by walking will depend on how much you have subscribed. Longer walks and an adequate subscription will earn you around 150 to 600 coins
Sweatcoin had more than 5 million users in 2021, and the number rose by 266% in 2022. Currently, the app records over 2 million people actively using it while walking weekly.
This number of weekly users has given Sweatcoin a place among the fastest-growing fitness apps in the App Store. The app is also second in the list of fastest-growing free apps.
How It Works
The app’s operation is quite simple. When you download it from the iOS store or Google Play Store, you will sign up for it, providing every necessary detail. After signing up, you will connect the app with your smartphone’s health app, GPS location, and fitness data.
After hooking up with the health app on your smartphone, the app will begin to track your movement and reward your steps with sweat value. The swat value is usually in monetary forms, and the amount you get is based on your movement. The app rewards you with 0.95 coins for taking 1000 steps.
You can use some of the coins Sweatcoin rewards to buy fitness gear, exchange them for gift cards, or attend pay-for-workout classes.
It is very important to note that the app only records movements while you are outside. It will not record movements on treadmills, although it will record movements you make within your apartment.
The free version of Sweatcoin rewards you with five Sweatcoins daily, no matter how many steps you make. So, you might have to subscribe if you want to earn more. The bigger your subscription, the more coins you will earn daily.
The Sweatcoin platform has raised its native coin to $5.7 million using seed capital fundraising. Goodwater Capital, Greylock, Seedcamp, Smarthub, and Rubylight are major sponsors.
Some other angel investors helped the startup raise that money, including Rain Lohmus and Justin Kan.
According to Sweatcoin’s founders, the funds raised will help expand the organization and move it out of the United States and the United Kingdom. The plan is to expand into other English-speaking countries and then move into Asia and Europe.
The founders also have plans to make it possible for individuals to pay taxes using Sweatcoin in the future.
Another plan the founders are working towards is building an open-source DLT blockchain technology. This development will make it possible to trade Sweatcoin in exchanges like other cryptocurrencies and fiats.
You can download the Sweatgcoin app from the iOS App Store or Google Play Store. Sign up, and start earning real money by walking long distances.
What is the Worth of Sweatcoin?
Sweatcoin’s marketplace worth is around $0.05 per coin, although this value can change with market fluctuations.
What Can I Buy With Sweatcoin?
There are several things you can buy with your accumulated Sweatcoin. The Value is monetary, as I mentioned earlier. The things you can buy with your Sweatcoin depend on your location. Here are some of the things you can get;
- Beauty products.
- Boxes of Subscriptions.
- Membership of Fitness Clubs.
- Online fitness courses.
You can use your Sweatcoin to bid for items in the app. You can bid long-term for items like game consoles, smartwatches, and hundreds of dollars gift cards.
If you win, you will get the item; if you do not win, you will get back your Sweatcoin. The bids are usually high, so be sure you have a lot of Sweatcoins before making a bid.
With Sweatcoins, you can get Paypal or Amazon Vouchers and get anything you want with the cards’ worth at discounted prices. Currently, the worth of 8000 Sweatcoins is a $20 Amazon voucher.
You see, with more steps, you can earn more. The cheapest items you can buy with your accumulated Sweatcoins are beauty items. Then the most discounted items you can get with your Sweatcoins are fitness gear and online fitness membership classes.
Sweatcoin came into the scene to redefine how we view staying healthy. The platform has motivated people to stay healthy by offering financial incentives for exercising.
Millions of people join the league of users weekly, and the app is getting a lot of recognition. From the look of things, it may soon become one of the biggest cryptocurrency and blockchain trends.