There's no secret that a largely sedentary lifestyle increases the risk of many chronic diseases and can weaken the immune system. In the modern world, where many of us have desk jobs that require sitting most of the day, and most leisure activities do not require movement either, it often becomes extremely difficult for a working adult to get the proper amount of exercise.
Tiredness, lack of motivation, and not having enough time are the most common excuses used by people to talk themselves out of hitting the gym after a long day of work. But would you change your mind if someone offered you money for working out? This is precisely what Sweatcoin does, but does it actually work? Dive into our comprehensive Sweatcoin review and find for yourself!
What is Sweatcoin?
So what is Sweatcoin, anyways? Founded in 2016, Sweatcoin grew from a fitness app to a comprehensive ecosystem that combines elements of fitness tracking and cryptocurrency to incentivize physical activity. The Sweatcoin app, which can be downloaded from the Google Play Store or Apple's App Store and now boasts more than 120 million registered users, converts steps taken outdoors into digital currency known as "sweat tokens."
As a fitness app, Sweatcoin uses your Apple Watch or smartphone's accelerometer and GPS to track your outdoor steps. It's a fun and innovative way to motivate users to be more physically active. For every 1,000 steps you take, you're awarded 0.95 sweat tokens. These tokens can then be exchanged in the app's marketplace for a variety of goods, services, or experiences. On Sweatcoin's marketplace, you'll find an array of rewards, ranging from fitness equipment to gift cards. Sweatcoin is especially useful for those who enjoy walking or running outdoors, as the app only counts outdoor steps.
According to Sweatcoin, it uses its own algorithm to track and verify the steps Sweatcoin users take, so you (theoretically) shouldn't worry that your information will be shared with a third party or that someone may access your location data.
The Sweatcoin app is free to download and use. Under the free app plan, users can earn up to five sweat tokens per day or 150 per month. However, if you're a particularly active individual, you might find that the free plan's cap is not sufficient. In this case, Sweatcoin offers a premium version of the app that allows you to earn more sweat tokens per day for a monthly subscription fee, which is $4.99 monthly or $24.99 annually.
One of the downsides of the Sweatcoin ecosystem is that you have to accumulate a large number of points before you can redeem them for the more desirable rewards in the app's marketplace. For example, to claim a $50 gift card, you would need to accumulate 3,650 sweatcoins. That would require walking approximately 3.85 million steps. On a brighter note, you can donate your points to a list of charities right from the app if monetary gains aren't your top priority for using Sweatcoin.
What are the SWEAT token and Sweat Wallet?
The Sweatcoins you earn in the app can be converted to SWEAT, a native token of Sweat Economy, which is a Web3 project created by Sweatcoin. The platform also unveiled a crypto wallet for storing SWEAT, known as the Sweat Wallet app.
Users can stake SWEAT in a wallet to earn an attractive yield and access rewards, which include vouchers and discounts for blue-chip brands (such as Adidas, Amazon, and Nike), tickets to events, and stablecoins. What is even more intriguing is perhaps a Sweat Hero NFT game that is currently in development and will be available to play right from the wallet app.
Currently, only 10% of the SWEAT circulating supply is available in the open market. Subsequently, 90% of the token supply is set for the linear unlock over the next 24 months. The developers have already introduced several mechanisms to decrease the rate of inflation of the token and committed to burning 4.5 billion SWEAT to constrict the circulating supply.
How much can you earn with Sweatcoin?
The amount you can earn from Sweatcoin largely depends on your level of physical activity and the membership plan you're on. Under the free plan, you will earn 1 Sweatcoin for every 1,000 steps, minus a 5% commission. So after the app takes the cut, you will only get 0.95 Sweatcoins for every 10,000 steps.
The Sweatcoin Premium plan allows you to earn twice as much for 10,000 steps and also gives access to other premium features. However, it's only worth it if you really walk a lot, otherwise you would spend more money than you earn in the app.
Another way to earn with the Sweatcoin app is to join the Sweatcoin influencer hub and harness the power of its referral program. To be able to access the Influencer Hub, you have to get 20 new, unique users to register using your link. After it, you can continue growing your invites and redeem them for cash and exciting rewards right from the app.
6 ways to maximize your Sweatcoin rewards
If you're looking to turn your daily steps into potential rewards with Sweatcoin, there are several strategies you can implement to maximize your benefits from the app. Here's how:
Consider if Sweatcoin Premium is Worth It: For the more active users, upgrading to Sweatcoin's premium plan may be a beneficial investment. The free version of Sweatcoin has a daily limit on the amount of Sweatcoins you can earn. However, with the premium plan, you can earn more Sweatcoins per day, which could quickly add up if you're someone who's constantly on the move.
Unlock the Power of Sweatcoin Referral Program: Sweatcoin's Influencer Hub offers a referral program that can significantly boost your earnings. After joining it, you can earn extra Sweatcoins each time you refer a friend and they download the app using your referral link. It's a simple way to accumulate more rewards, especially if you have friends or family members who would also enjoy earning rewards for being physically active.
Walk More: It may seem obvious, but the more you walk, the more Sweatcoins you'll earn. Consider incorporating more walking into your daily routine. You could start walking to work or school, take your dog for longer walks, or take a leisurely stroll in the evenings. It's a win-win for your health and your Sweatcoin balance.
Redeem Points from the App for SWEAT Tokens: The Sweatcoin app allows you to convert your earned Sweatcoins into SWEAT tokens. These tokens, which are a form of cryptocurrency, could potentially increase in value over time. By regularly converting your Sweatcoins into SWEAT tokens, you may be able to maximize your earnings from the app. You can also choose to cash out your SWEAT for fiat through crypto exchanges, which may be a more attractive option than redeeming the app points for gift cards.
Stake Your SWEAT Tokens: If you're willing to take a longer-term approach, consider staking your SWEAT tokens. By staking, you lock up your tokens for a set period of time, during which you earn rewards. This can be an effective way to earn more from your Sweatcoin efforts.
Use Daily Bonuses: Make sure to check in with the app every day. Sweatcoin offers daily bonuses that can add a nice boost to your earnings. It's an easy task that only takes a few seconds, but over time, these bonuses can add up to a significant amount.
Remember, Sweatcoin rewards active living. The more you move, the more you stand to gain from this innovative fitness app. Happy stepping!
Is Sweatcoin worth it?
To sum up, Sweatcoin certainly has its advantages, especially for people who lead active lifestyles. The app rewards you for something you're already doing – walking and running. It encourages physical activity, which can lead to better health and fitness. If you're already walking a lot or looking for motivation to be more active, Sweatcoin can be a great incentive.
However, it's important to manage your expectations. You're not going to become rich using Sweatcoin. The app rewards walking and running, but it does take a significant number of steps to accumulate Sweatcoins, and more so if you wish to redeem the coins for higher-value items. In some cases, people have found it takes too long to earn enough Sweatcoins to redeem for the more desirable rewards.
If you're already an active person, or looking for a fun incentive to move more, and you find the rewards appealing, then Sweatcoin can absolutely be worth it. However, if you're expecting large financial gains or instant high-value rewards, it may not meet your expectations.
What is Move-to-Earn?
"Move to earn" is a concept frequently associated with various fitness and health-related apps and platforms, including blockchain and cryptocurrency projects. The idea is that users perform physical activities, like walking, running, or cycling, and the app tracks their movements. In exchange for these activities, users earn rewards, often in the form of points or digital tokens.
Besides Sweatcoin, another prominent example of the M2E project is the Solana-based move-to-earn lifestyle app STEPN (GMT). You can read the detailed review on STEPN here
What is the current price of the SWEAT token?
At the time of writing, Sweat Economy (SWEAT) is trading at $0.0054, down 1.5% over the last 24 hours. The all-time-high for SWEAT was $0.999 in September 2022, according to CoinMarketCap data. The market cap of the token is $28 million, which ranks it #506 out of over 10,000 cryptocurrencies listed on CMC.
What are the best crypto exchanges to sell and buy Sweatcoin?
You can sell and buy SWEAT tokens on a number of centralized crypto exchanges, including KuCoin, Bitfinex, Gate.io, Huobi, Crypto.com, and OKX. You can also swap SWEAT for other crypto on DEXes, such as Uniswap and Ref Finance.
Currently, OKX has the most trading volume for SWEAT/USDT pair, so it may be your top choice to cash out your SWEAT there.
Where can I download the Sweatcoin app?
If you are eager to join Sweatcoin, you should download an official app from App Store (for Apple smartphones) or Google Play (for Android). Beware of unofficial apps that claim to be Sweatcoin as those can potentially infect your device with malware and gain access to sensitive data.