How Does SweatCoin Work?
SweatCoin is a fitness app that tracks your movement and then pays you money in return. It does this by using your smartphone’s inbuilt step sensor. The money you get from the app is not an investment, it is actually earned through brand partnerships and advertising.
It uses a smartphone’s inbuilt step sensor to track movement
Sweatcoin is a new breed of step counter. It uses your phone’s GPS to track steps. They claim it has the best accuracy and you can track your daily progress via their slick interface. The best part is you can spend your sweatcoins on whatever you want, be it fitness gear, gadgets, or even a worthy cause. This is the most exciting use case of all.
To get started, you must download the app and set it up. You will then be rewarded with a small collection of Sweatcoins, or you can donate your collection to a good cause. These coins can then be redeemed for a wide variety of rewards and perks, all of which are sure to excite. Some of the bigger hitters include a new iPhone X, and discounted gift cards to various gyms and workout venues. A bonus is that you can enlist your friends to take the lead, if you like. If your buddies aren’t as sprightly as you are, you can always bribe them with a few sweatcoins.
To be fair, the Sweatcoin app does its job but is a bit too clunky for my tastes. There are many other options, including a dedicated pedometer that syncs with your favorite fitness app, and the more traditional methods of logging your mileage and logging your sleep. Other features that are not stowed away are a suite of health monitoring tools, including a heart rate monitor and an infrared camera that detects motion, such as a run.
Having said that, you will likely not see a million sweatcoins in your pocket for weeks, or maybe even months. To make up for this, Sweatcoin has a generous reward system for top earners, and offers an impressive rewards list for everyone, from top dogs to those who aren’t exactly fit.
It earns money from advertising and brand partners
Sweatcoin is an in-app virtual currency that rewards users for taking their daily steps. The app is available for iOS and Android devices. It counts indoor and outdoor steps, and converts them into digital coins called SWC. Users earn a dollar per 5,000 steps, while earning an additional SWC for every 500 steps above 5,000. They can use these coins to purchase cool products and donate them to charities.
In May 2016, Sweatcoin launched the app for the public. The company was started by Anton Derlyatka and Pavel Fomenko, two Russian entrepreneurs who had previously launched another start-up.
Before launching Sweatcoin, the founders had experience in promoting health and fitness. They decided to build an app that encourages people to get active, while generating revenue from advertising and brand partners. As a result, Sweatcoin secured lucrative partnerships with major brands.
Since its launch, Sweatcoin has earned more than $5 million in venture capital funding. The company also signed up over 100 charitable organizations. This has enabled the company to grow to include more than 160 brands. There are over a thousand branded services, goals, and rewards in the app.
Users can watch ads and earn one, two, or four SWCs for watching them. They can even watch ads three days in a row. Once users have enough SWC, they can convert them into SWEAT, which can be used for real-life rewards.
Sweatcoin offers an exclusive subscription plan, which allows users to earn up to 2x token earnings. During the subscription period, they also receive a custom icon, access to premium auctions, and a doubled donation rate. When the subscription ends, users can choose to opt out of the plan. Alternatively, they can give their subscriptions to their family members.
Sweatcoin has launched the Sweat Economy project, which is focused on the development of the platform and its user base. It is powered by the NEAR protocol, which is known for high-speed and sustainable transactions.
Sweatcoin is committed to working with national governments, and the company wants to become a part of personal income tax. Ideally, users can also exchange their SWCs for other tokens on the open market. However, they cannot cash out their SWCs through bank transfers or PayPal.
Sweatcoin also has a Sweatcoin for Good campaign, which supports charity. It has partnered with Save the Children International. It has been recognized as an official partner of the National Health Service. These partnerships have led to Sweatcoin acquiring more than a hundred thousand subscribers.
Users can get a free iPhone XS if they earn a certain number of SWCs. They can also participate in marathon offers on a first-come, first-serve basis. Depending on the offer, users can save up to $1,000 on PayPal cash or travel deals.
The Sweatcoin app is also available on Apple Watch. Users can convert their SWCs into SWEAT, and purchase apparel, trips, and cool products.
It’s not a scam
Sweatcoin is a great way to stay active and earn a little extra money on the side. The app rewards users with a token based on the number of steps they take outside. You can then spend the tokens on various goods or services.
There are a variety of Sweatcoin apps available for both iOS and Android devices. All you need to do is download the app, and you’ll be on your way to earning a few coins. In fact, it only requires a few basic pieces of information, like your name and email address.
Although the app is not a scam, it may not be suitable for everyone. It is best for people who are already active and have a desire to make a healthy change in their lives. While it isn’t a substitute for physical activity, it does give you an incentive to go out and walk more often.
Another reason to use the app is because it offers coupons and discounts on certain sites. Some of these sites include Amazon, PayPal and even snack subscription boxes. Users can also get discounts on fitness memberships. However, it’s important to note that these vouchers are not redeemable for cash.
Although the Sweatcoin app is free to download and use, it has some limitations. For instance, the app uses GPS and accelerometers to count steps. This means that it won’t be as accurate as it could be, and it may lose indoor steps. Additionally, you need to be able to connect to Wi-Fi in order to use the app. If you’re using an old phone, this might be a problem.
Despite its limitations, the app has received a lot of positive feedback from its users. Many of them report that they are getting motivated to keep fit and lead healthier lifestyles. Even those who don’t use the app regularly have found it to be a helpful motivator.
Lastly, although the app doesn’t have a “cash out” option, you can still buy a wide range of products with your Sweatcoins. These include earphones, workout apparel, fitness memberships, beauty products and online educational courses.
Despite the limitations, the Sweatcoin app is not a scam. It’s a fun and informative way to stay healthy, and it’s certainly not a bad way to earn extra cash. And, if you want to, you can donate your Sweatcoins to a good cause, such as helping animals or environmental causes.
Although there are many other fitness apps, Sweatcoin is probably one of the most legit. Not only does it offer free credits for walking, but it gives you the ability to redeem your tokens for rewards. That’s pretty awesome! But how exactly do you do that?
The company behind Sweatcoin claims that it has the mission to help the planet become healthier. As such, it has partnered with nonprofit organizations and environmental charities. To support this mission, it has created a charity program called Sweatcoin For Good.