STEPN is one of the most popular cryptocurrency projects on earth. It combines the aspect of earning money with exercising, resulting in benefitting the user in several ways. But is STEPN worth using in 2023? Is it possible to earn money with STEPN, or will STEPN make you poorer but fitter? We have taken a closer look at STEPN.
We have written many articles about STEPN in the IP Address Guide earlier. The most popular article is about the mystery boxes, giving information about how they work, what is required to receive a higher-level mystery box, and of course, what you can receive in the different mystery boxes.
But let us imagine you are a beginner with no STEPN experience. Is it worth investing in this project?
What is STEPN?
STEPN is a move-to-earn cryptocurrency project. You can download the STEPN application to your mobile device and bring it along as you go for a walk or a run. You can use the application to track your movements without spending any more. To earn, however, you need to buy one or more sneakers available at the marketplace within the STEPN application. Depending on the quality of your sneaker and your gems, you will earn GST tokens or GMT tokens while exercising. You cannot earn without limit, so depending on the number of sneakers you own, you will be entitled to between 10 and 100 minutes of paid exercise per day. The more sneakers you own, the longer you will be paid to exercise daily. If you want to read a more thorough introduction to STEPN and how it works, look at this article.
It is quite easy to understand the project, but is it worth it?
The importance of health.
Living a healthy lifestyle is utterly important! People spend lots of money paying for fitness machines, personal trainers, or on a gym ticket to stay fit. What do you get in return? Health! It is a big minus project if you look at it from the perspective of your wallet. If you look at it from your body’s perspective, it is a big win.
It is worth it if you look at STEPN as a personal trainer or a source of inspiration to make you move your body. You don’t need a giant investment to start; after making the initial investment, you don’t have to spend more money. There are no monthly fees like the ones you pay for your Netflix subscription or to visit the gym regularly.
Seen from this perspective, STEPN is worth it. But let us move along and take a look at the financial aspect of STEPN.
The lowest cost to use STEPN and earn.
If you decide to buy one sneaker in the STEPN marketplace, you will be entitled to 10 minutes of paid exercise daily. At the time of writing, the cheapest sneaker in the STEPN marketplace costs 70 GMT. It is smart to look around because there are lots of sneakers available at this price. Some of them are extremely bad, while others are way better. Take a look at the introduction to STEPN article to understand better what to look for as you buy a STEPN sneaker.
- 70 GMT = 35 USD.
With such a sneaker, you should earn approximately 5 GST per day. At the time of writing, that equals approximately 0.1 USD, which means that you will spend 350 days to be in a plus. This is a very simplistic way of calculating because many other aspects could influence your payout, for example, buying some cheap gems to boost your income or buying more sneakers to get more energy, which will help you earn more. You can also earn more by upgrading your shoe (level-up).
Skip the gym and buy STEPN sneakers instead.
Let us imagine that you spend 50 Euros per month (600 Euros per year) to attend the local gym. What would happen if you invested the same amount of money in STEPN? What would the outcome be?
I would buy an uncommon sneaker (level 30) and eight common sneakers for this price.
- One uncommon sneaker = 300 GMT (150 USD)
- Eight common sneakers = 560 GMT (280 USD)
With nine sneakers in my wallet, I am entitled to 45 minutes of daily exercise.
I still have money left, so I would buy gems to boost the earnings of my main sneaker. Since the sneaker is at a maximum level, I can add four gems. I would spend approximately 200 GMT (100 USD) to buy level 3 gems on my sneaker for all four gem spots.
I would end up spending approximately 550 USD in total. What would my earnings be?
- I would earn approximately 125 GST per day (2.5 USD).
- I would get a mystery box level 3 or 4 daily.
Once again, this is a simplistic image, and you need to spend money paying to open your mystery boxes, and you also need to pay to restore the health points of your STEPN sneaker. However, I would still get my initial investment in return in less than one year if the GST and GMT prices remain at their current level.
In other words, you pay more than you would at the gym upfront, but after your initial payment, you will slowly get your money back!
It is crucial that you buy a good uncommon sneaker at first, so do thorough research and find one with great attributes and gems before you buy it in the marketplace.
Is STEPN worth it?
If you want to invest in your health, it is worth it. If you want to get rich, you should probably go look somewhere else. Those who want to combine exercising with earning some money, STEPN is worth it.
Are there any risks involved?
You can sell your sneakers any time, meaning you can get your initial investment in return. If the market should collapse, you might get less in return, which is worth knowing about. Many who invested in STEPN in the first half of 2022 suffered greatly from the big market collapse. Since then, the GST and GMT prices have flattened out, making it a less risky investment than during the extreme volatility of 2022.
I wish you good luck, and I hope you have found the information in this article helpful. Do you have any questions, comments, or personal experience? Write your thoughts in the comment field below.