Sweatcoin is a fast growing fitness 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 great and it is growing in countries like Brazil, so far they are rewarding users correctly. Sweatcoin will later be converted to SWEAT token in 2022 and will have more use cases. In the article below we will talk about how the application works and whether it is possible to make money using Sweatcoin.
What is sweatcoin?
Sweatcoin is a free app that rewards your daily steps with a new generation of 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 the society. You are more productive. You help save billions of dollars in health care. Your movement has value: you deserve a stake in it.
Sweatcoin says it aims to convert users’ physical activities into value associated with cryptocurrencies. 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 the movement of people. It also claims that the mining process will be based on the physical activities of the users. It strives to inspire people to improve their health irrespective of the way they earn through the platform.
How does Sweatcoin work?
Sweatcoin ? works by using your smartphone’s built-in features like accelerometer and GPS to track your steps using its algorithm. Once verified, your steps are converted into Sweatcoins. The app uses Google integration to measure user steps in the background. That is, you do not need to keep the app open while walking to count steps.
You can spend these sweatcoins in the “Spent” section of the app. 1.000 steps = 0,95 Sweatcoins. A small 5% commission is charged for the sweatcoin created. This is so that they can run the project smoothly and continue to provide Sweatcoin to everyone. Sweatcoin was created out of a desire to help people move forward and stay motivated along the way. The team is passionate and wants to give you the best possible product, but they understand that there are still things that can be improved.
After downloading the app, you need to follow these steps to start earning. First of all, after opening the app, there will be a form which you will have to fill. It only contains simple personal information. Also, you need to verify that you are in compliance with the app tracking your daily steps even when it is turned off.
By collecting some or more coins, you can exchange them for offers in the in-app market. These offers can be absolutely anything – digital watches, online subscriptions, food, drinks, shoes, clothing, mobile gadgets, music/software downloads, digital services, and much more.
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- How do Community Challenges work? Who can attend? – Community Challenges are crowdfunding campaigns that lead users towards a collective action goal. Funds for the campaign are unlocked when users contribute enough to reach the milestone goal.
- Do I get sweat coins for participating in a community challenge? – You earn Sweatcoins from your steps as usual. No additional Sweatcoin is awarded to users for joining the Community Challenge.
- Will my hike sweatcoin be donated to the community challenge I participated in? – No. When you participate in a community challenge, they don’t take the sweat coins you earned from your moves. Instead, they count their steps toward a collective step goal. If you want to donate your Sweatcoin to a good cause, check if there are active Sweatcoin for Good campaigns in 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 running and running races and community challenges as much as you want.
- Who finances these challenges? – Sweatcoin Fund community challenges. He believes it is important to inspire people to move more for the causes they care about.
Can I withdraw my Sweatcoin to Paypal/Bank account?
It is currently not possible to withdraw Sweetcoin 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). Plus, if you invite lots of friends and are part of an influencer marketer, you’ll see offers from PayPal too!
For now, spend your sweatcoins in the marketplace with brand partners and bid on amazing items with your sweatcoins with the auction feature! New deals are available daily, so if you don’t find something one day that’s right for you, check back! If you are in the mood to donate, you can donate your sweatcoins to wonderful and worthwhile causes using the Sweatcoins for Good feature. He regularly features various NGOs and charities ranging from environmental to humanitarian initiatives.
What are the Different Sweatcoin Membership 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 a monthly or yearly premium. For the latest prices, check the Sweatcoin app. They offer deep discounts for the annual premium plan.
*Please note that the Premium plan is subject to the Fair Use Policy. The premium plan has a daily limit of 100 Sweat Coins, which is equivalent to over 52.000 steps. Depending on the length of your stride, this is equivalent to running 1 or 2 marathons a day. 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 Sweatcoin.
A Run is a one-month running game that challenges users to complete a step goal (eg 250.000 steps) within a month. Anyone with a Sweatcoin account can participate in the race. All users who complete a run (or reach their step goal) within the month receive bonus coins in addition to the bonuses earned from 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 directly from exercise (up to 30% of steps on some wearables may come from other means). ) to eliminate the possibility of fraud. However, they are currently in talks with some of the top wearable brands to integrate Sweatcoin into their products.
Promoting Sweatcoin: Social Media Influencer
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’s referral link. After successfully inviting 30 friends, you will become one of the Sweatcoin influencers, giving you exclusive access to the influencer marketplace!
What to do with Sweatcoin Coins?
- Spend on the Marketplace – Choose from thousands of great 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 protection causes
Where to buy sweat tokens?
SWEAT tokens can be purchased on several major cryptocurrency exchanges, some of the largest being: OKX, MEXC, Bybit, FTX, KuCoin, and Gate.io.
What is the release date of SWEAT tokens?
Sweatcoin co-founder Oleg Fomenko said the company plans to make a difference in society by encouraging people to lead healthier lives. He added that the company had not previously thought of a crypto rewards program because cryptocurrencies were not widespread in 2015. Then, he added that the company has 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 will receive a SWAT wallet, which will generate fees, enable a set of decentralized finance (DeFi) functions such as the exchange of SWAT tokens with other cryptocurrencies, liquidity provision, staking, and more.
Sweatcoin has finally announced a specific date and we now know that the new SWEAT token will launch on September 12th, 2022.
Can Binance List SWEAT Token?
There is still no official statement regarding the listing of SWEAT cryptocurrency on Binance. If we take into account that Binance is a project sponsor of STEP (GMT) competitor to Sweatcoin, we can consider this an initial listing difficult at first.
However, since the application is already being used by millions of people around the world, a fact that we can already consider as a real demand, it is basically the ideal project for any cryptocurrency exchange. Therefore, it will only be a matter of time before the coin is listed on global cryptocurrency exchange Binance in the near future.
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 one 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 sweatcoins to a specified list of charities. The best part is that you can even exchange your sweatcoin for bitcoin.
How much is 1 sweatcoin?
At the time of publishing this article, the cryptocurrency of the Sweatcoin app costs around $0,05, although this number is subject to change by the project team. With in-app coins, you can buy any product of your choice at a discount.
The same goes for purchasing products using your Sweatcoin. Like everything else, you need to walk 1,000 steps to earn one Sweatcoin. Currently, a $20 Amazon voucher costs 8.000 Sweatcoin, so you’ll have to walk a long way to buy this product.
Either way, you won’t be able to achieve anything more than a thousand steps or two. Offers usually start with 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 partnering with healthcare providers and insurance companies to create even more incentive to change in the future.
The team sees a future where SWEAT becomes a currency for everyday uses such as grocery shopping or even paying your taxes. So take note that working up a sweat today may be a smart investment tomorrow. Join thousands of users on this journey. Download Sweatcoin today and never run 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 is not going into limbo anytime soon as many crypto projects.
In a year or two, the Sweatcoin cryptocurrency could 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 Sweatcoin app legit, is it worth installing?
Sweatcoin is not a scam, and you can actually get products for free or with a discount by using the app to track your steps. However, the app still has limits on what you can buy and from where, so it’s going to leave you disappointed if you’re looking for real money.
If you like walking or jogging, or just want to get moving, the Sweatcoin app is a great app.
Currently the Sweatcoin app verifies steps as a motion validator. Over time, the Foundation will decentralize the motion verification process to allow other apps and wearables to verify new forms of motion, making it easier for users to earn SWEAT for swimming, cycling, walking, gymnastics and more. The way will be paved. It will get harder to sweat over time, which means the sooner you ride, the more value you’ll get.