Sweatcoin is proud to say that it pays to walk. But, what is it all about? How does it work? Is it safe to use Sweatcoin? Is it possible to earn actual money with Sweatcoin? In this article, we will take a closer look at Sweatcoin and try to answer all your questions about the application/protocol!
We all know that we need to move our bodies. There are lots of health issues originating from a sedentary lifestyle, that is, because we sit too much and move too little. In order to help people move more and take better care of their bodies and their health, there is now a trend called move-to-earn, also referred to as play-to-earn. But, how does this work? Do you actually get paid to use Sweatcoin? Do you have to pay anything to use Sweatcoin? What’s the catch? Are there any hidden tiny letters?
What is Sweatcoin and how does it work?
Sweatcoin is an application that you can download to your telephone. It is entirely free to download, and you do not need to pay anything to install it, nor to run it or use it. This is important, because they do not ask you for any money.
When you have installed the application it will ask for quite a lot of permissions, first of all to gain access to the step tracker of your phone, and possibly also the default health tracker that comes with your phone. Besides this, Sweatcoin will ask for permission to run in the background on your phone and automatically load as you start your phone.
It is important to know that Sweatcoin does not ask for permission to your GPS, meaning that they do not track your location. The application will only track your steps, and this is what makes it different from example STEPN, another very popular move-to-earn application.
When you have given the application all the required permissions, you are actually ready to use it already. You are ready to earn. But, what can you earn, and how much can you earn?
How can I earn with Sweatcoin?
There is currently a daily limit of approximately 0.95 SWC per 1000 steps you make. There is also a daily maximum of 5000 steps. In other words, you can earn 5 SWC tokens per day. There are also three daily bonuses available that you can get in addition to the rewards for your first 5000 steps, but these will require you to watch a couple of ads in addition to before you get the rewards.
If you move 5000 steps for ten days in a row, you will earn 50 SWC tokens during this period (and even more if you do the daily tasks and watch the ads).
What can I do with my SWEAT tokens?
At the moment, there are a few products you can buy within the merchandise store of the application, but these aren’t really interesting. The true potential of the product lies in the promised launch on the NEAR blockchain during the summer of 2022. Yes, Sweatcoin is a cryptocurrency/blockchain based project. And when the project will be launched this summer you will get one newly minted SWEAT token for all the SWC tokens you have acquired in your wallet until then. So, there will be a swap, and you will then be able to start trading your SWEAT tokens for Bitcoin, Ethereum, or turn them into USDT or other stablecoins. But, we are not there yet, so until then, this is just an investment into a future that will hopefully be bright for the Sweatcoin application users.
We have no clue about what the price of a SWEAT token will be once it is launched, so it is impossible to predict at the moment!
What we do know is that Sweatcoin has been downloaded millions of times from Apple Store and Google Play Store, and that lots of people are using it already. With such a great number of users, it sure has potential. And if the word reaches the street that you can actually make real money with this app and that they will be worth something, this will see a greater boom of new users flooding the platform, for sure.
Once again, right now you are investing (time and energy) in SWC by using the Sweatcoin application, hoping that it will actually be worth something later after the SWEAT official token launch (TGE = Token Generation Event).
Can I earn SWC only with walking/running?
Sweatcoin is currently registering your steps, but it doesn’t care about your location. As a result, you can right now use Sweatcoin not only while walking and running, but if you use an elliptical trainer and keep your phone in a pocket or in a phone cover on your arm, your movements will be registered as steps, and it will help you acquire your daily dose of SWC tokens. In the same way, you can use a treadmill as well and earn SWC tokens. This makes it very easy to use, and if you just keep it in your pocket throughout the day and you move your body while getting to work, home from work, to the store, in the store, home from the store, and more, you will easily reach the daily 5000 steps.
Is Sweatcoin a scam?
I highly doubt that Sweatcoin is a scam. I have been looking for information about the creators of the project, and to be honest, I wasn’t very impressed with what I found. The three leaders described on the about page at the Sweatcoin website are not well-known, and neither of them has a very active Twitter profile. You can find some of them on LinkedIn, like the founder Oleg Fomenko, but I didn’t feel very convinced about quality looking at these. He at least has a couple of updates, while the other two (Anton Derlyatka and Egor Khemelev) seem to be quite inactive on LinkedIn
Sweatcoin seems to have some good and solid partnerships, which gives some comfort.
So, what makes me quite relaxed about Sweatcoin?
You do not need to invest any money in this project. They inspire you to move your body, something you should do with or without Sweatcoin. That’s it! If the project ends up being trashed, you haven’t lost a cent, but you have still moved your body, making you a winner no matter what.
How does Sweatcoin generate income?
This is a question many people ask themselves. On the Sweatcoin website, they say that there are lots of advertisers who want to reach this group of people (using the application). They are also supported by health governments (who will pay less in health care bills as people take better care of themselves), and there are other ways they generate income.
This part is still a bit vague, but if they will add more play-to-earn elements in the future, lots of rewards will stay within the platform and also help generate income for the project itself.
Right now you can also boost your daily earnings by upgrading to a Premium package. A Premium package will let you earn more SWC tokens per day for a set price. Unfortunately, you have to pay in FIAT currency for this.
Another thing is that you can buy merchandise from the store with your SWC tokens. So, it might feel free, but the postage costs are extreme, meaning that I have a personal feeling that they are actually gaining quite some revenue on the costs you pay to have the actual package sent to you (which is paid in FIAT currency and not with tokens).
These are some of our basic thoughts about Sweatcoin. We are not 100% convinced when it comes to the team yet, but we do not see big dangers in using the application. In fact, we need to move anyway and here you can actually get paid with something that might be worth something in the future as you move your body. Whether or not the tokens will be worth anything remains unknown, but you will not really lose anyway, because moving your body is a reward in itself!
What are your thoughts about Sweatcoin? Do you have any comments or questions? I would love to hear from you!