What is Sweatcoin and is Sweatcoin legit or a Scam? – Have you ever thought about earning money to walk? This proposal has led many people to download Sweatcoin, an application that rewards users according to the activities they perform.
Currencies are virtual, but in some cases it is possible to convert your account balance into real money.
Want to know how Sweatcoin works and how to earn coins with this app? Keep reading this article, learn about the advantages of Sweatcoin and how to take advantage of them below.
What is Sweatcoin and how does the app work?
Sweatcoin is a fitness app that aims to reward its users for their walks. Launched in 2016, the app already has more than 60 million users and is available on the Apple Store and Google Play .
The dynamics of the application is as follows: every 100 steps, the user earns a digital currency, Sweatcoin. The currency can be used for purchases within the platform itself, such as shoes, yoga classes, it can be donated to partner humanitarian and environmental organizations, etc., but it cannot be exchanged for cash.
The company announced its plans to launch SWEAT, a token on the NEAR blockchain that can be turned into cash in the future. Whoever owns a Sweatcoin will be able to claim SWEAT at a 1:1 ratio.
The expectation is that this will start to happen from the third quarter of 2022, but there is still no date announced. According to the company, the announcement of this new operation will be at the event “The Token Geneneration Event (TGE)”.
Furthermore, the company also did not disclose the exact value of the coin, so it is estimated that the value of the coin will fluctuate according to supply and demand.
On the website, the company communicated that the new coin will be listed on both centralized and decentralized exchanges, but no exchange has been disclosed.
How to make money on Sweatcoin?
Sweatcoin works similarly to other quest apps. That is, the user needs to perform some activities to earn the rewards. In Sweatcoin, the most common task is counting steps, the app rewards users who walk or run.
To do this, you need to download the app, create an account on the platform and accept the permissions, the app will communicate with health apps, such as Google Fitness, from Android, and Health, from Apple, to track users’ activities.
Another way to earn rewards is by watching the ads that are broadcast in the app and inviting friends to use the app. Referral banners can be found on the app’s home screen. Sweatcoin can also feature step goals, another way to earn rewards.
Is it possible to withdraw Sweatcoin balance and transfer money?
Sweatcoin does not offer the option to transfer the balance in coins for all users. The option to transfer money Sweatcoin to PayPal account only appears for some people. You can see if you are one of the winners by accessing the app’s wallet area, if you have a PayPal banner it is because you have been awarded.
In this case, follow the instructions that appear on the screen, add your bank details and make the transfer to your digital wallet. Another way to withdraw your Sweatcoin balance is by joining the app’s Influencer Program.
To do this, invite 21 people to use the app. They need to register to make their invitation count. Then the app will display some invite goals, you need to complete them to be able to redeem the money. Goal values vary and you can withdraw everything via PayPal.
What is the value of Sweatcoins?
One Sweatcoin is equivalent to a thousand steps, but the platform does not disclose the value of each coin. For most users, the balance accumulated on the platform can be converted into purchases at Sweatcoin’s own stores.
Most of the store’s products are vouchers for subscriptions to streaming services or discount coupons at partner stores. Each discount coupon is worth $25 and can be redeemed every 1250 coins. Furthermore, in the auction, the bids are equivalent to 29,000 sweatcoins.
Is Sweatcoin Trustworthy?
Sweatcoin is a platform that offers no risks to users, one way to prove this is that it has been approved by the security systems of Google and Apple stores. The app is free because of the ads and advertisements that are shown all the time.
4 ways to use Sweatcoin coins
Improve your physical performance
Want greater incentive to do physical activity than winning prizes? Sweatcoin encourages its users to walk more and also offers various coupons on fitness classes, yoga, cycling and other activities or exchange your coins for subscriptions in fitness apps.
The app even records your activities and you can monitor them to track your progress. In addition, the app has a community, you can check and complete the platform challenges.
Make donations to NGOs
Use your coins to make donations to social organizations and causes. You can participate in campaigns, helping children victims of war, for example. The app partners with several charities and suggests different causes for users to endorse.
Participate in auctions
With the coins, users are able to purchase products with lower values from bids in auctions promoted by the app itself. Before participating, check the accumulated balance in your wallet, the maximum amount and the minimum amount offered in the auction. Auctions on the platform usually require the participant to have a high value to ensure competitiveness.
Exchange your walks for in-store coupons
From 5 Sweatcoins, you can now exchange your coins for discount coupons from the app’s partner stores. In addition to products, you can exchange your coupons for streaming services, app subscriptions, etc.
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How much is 1 sweatcoin worth?
One Sweatcoin is equivalent to 1000 steps taken.
How to transfer money from Sweatcoin?
Go to your wallet in the app, find the PayPal banner, add your bank details and make the transfer.
How to withdraw Sweatcoin money on Pix?
Transfer the money from Sweatcoin to PayPal, then in the PayPal app, go to Make Pix and make the transfer.