Sweatcoin: Earn Crypto while you work out!
So did you know that there’s an app that lets you earn cryptocurrency while you walk?
Cryptocurrency has been all the rage these days in the tech circles, with Bitcoin having almost reached $20,000 in December. Other cryptocurrencies have also gained momentum and we’ve been seeing the trend penetrate many spheres such as online poker and fitness. And this particular app just does that: marrying the efforts of working out and the rewards of earning cryptocurrency.
The startup behind the app Sweatcoin Pays You To Get Fit says that only more than a year after its release, the app has already registered five million users. It looks like users are really pleased with what Sweatcoin is doing since the company posted a 266 percent in increased revenues in the last quarter alone. And as of press time, Sweatcoin has already raised around $5.7 million in seed from its investors.
Wait, so it’s not a scam? No, it’s not! It’s as real as crypto can get.
Essentially, you hook up your smartphone’s heath and fitness data and GPS location to the app so it can track how many steps you take each day. The steps you then take are converted into Sweat coins, the cryptocurrency of the app. For every 1,000 steps that you put down, the app will reward you with 0.95 sweatcoins. Sweatcoins can then be traded for a variety of rewards such as books, fitness gears, clothing, workout classes, and more. You can even donate the sweatcoins you earned to charity!
According to many studies, 10,000 steps is the recommended number of steps per day for a healthier body. I would say that the thought of earning at least 6.65 sweatcoins per week just by walking is a so much better motivation to reach those 10,000 steps than no reward at all! If you’re feeling a little confident, you can also challenge your friends to see which of you can earn the most Sweatcoins.
The app originally launched first in UK for iOS users but in just a year, they have already put up an Android version and have started offering their services to the US and Ireland. In their next phase of development, co-founder Anton Derlyatka said that they are planning to expand to Europe and Asia, and then work to have Sweatcoin trading like other major crypto. And at the rate Sweatcoin is growing, we’re expecting to see these things come to reality very soon.