Sweatcoin: What Is It and How Does It Operate?

Ruby McKenzie
6 Min Read

Whether you’re looking for inspiration to get moving more or you’re already a fitness enthusiast who wouldn’t mind receiving a few extra benefits for exercising, there are plenty of ways to become motivated.

Newsflash! There is a new software that can enable you to get compensated for performing your regular tasks or exercise. It encourages physical activity and might help you stay motivated.

Sweatcoin makes the concept of getting paid for walking a reality and gives you a better incentive to exercise every day.

Let’s take a closer look at how they are able to compensate you for merely moving about.

What is Sweatcoin (SWEAT)?

The software Sweatcoin tracks your activity and rewards it. The movement in this case refers to the steps you take each day, and you are compensated in “Sweatcoins” in accordance with the number of steps you have taken.

Sweatcoins are an in-app digital currency that functions very similarly to the money that you have in your digital wallets and e-payment apps.

All those steps are counted as movement (the app doesn’t include motions inside). This includes lounging about with companions, jogging quickly to catch the bus, and walking through parks. Overall, it’s possible to earn a few dollars by simply going about our normal business.

What exactly is the mechanism of Sweatcoin?

You can begin walking and logging steps after installing the app on your smartphone or wearable device and completing the registration process.

In order to calculate how far you’ve walked, Sweatcoin uses a unique algorithm that analyzes data from your phone, GPS, and movement sensors  called accelerometer and gyroscope

Similar to other blockchain-based cryptoassets, the digital currency mines new assets by carrying out specific tasks. Sweatcoin is not currently a cryptoasset, though. It does not utilize blockchain technology and is not traded on any cryptocurrency exchange.

How to earn rewards with Sweatcoin

You can earn roughly 1 Sweatcoin for every 1,000 steps you walk outside if you keep the app running in the background while using it. It tracks your movement throughout the day.

The app allows you to redeem coins for a variety of offers. These offers include digital goods such as watches, memberships, food and drinks, shoes, clothes, running gadgets, music/software downloads, digital services and more.

More than 160 brands are affiliated with the business, and you may purchase goods or subscriptions for a fixed Sweatcoin cost.Sweatcoins can be pooled by households in order to use them for a single, greater payout.

How to Buy Sweatcoins?

Several decentralized exchanges and the biggest cryptocurrency exchanges list Sweat Economy (SWEAT) (DEXs). One of the easiest and most practical sites for purchasing SWEAT is KuCoin.

Creating an account is required before you can start trading on KuCoin. You can begin turning your fiat currency into cryptocurrency once you have verified your email address. KuCoin also allows you to track cryptocurrency prices such as the Sweat rate, the Ethereum cost and the Bitgert price.

You can trade SWEAT USDT on KuCoin as well. Just enter the amount of USDT you want to convert, and then see how much $SWEAT tokens you will receive and the trading fees you must pay. When you use KCS to pay for trading, you can get a 20% discount on trading fees.

Is there a cost associated with the app?

Sweatcoins are totally free. Even membership level upgrades are paid for with Sweatcoins rather than cash.

Make sure you’re getting the greatest value by daily checking the Offers screen.

Sweatcoins do not actually have a monetary value, but you may calculate the worth of an offer using some simple math.

Is Sweatcoin a genuine cryptocurrency?

The Sweatcoin app is legitimate, and the coins you earn are worth something. But a Sweatcoin is not even close to the value of a US dollar. Approximately $0.05 is the current value of one Sweatcoin, however this amount is liable to fluctuate. 

Depending on where you are, there may be a difference in the products or services that you may purchase using Sweatcoin, but you should still have a variety of possibilities. 

Sweatcoin also provides Amazon and PayPal gift cards, enabling you to buy any item at a reduced cost. If you spend a certain amount of money on a specific website, you may be eligible for significant discounts.

Take Away

Sweatcoin, a move-to-earn operation, is one of the most eagerly anticipated cryptocurrency launches of recent times.  Sweatcoin is hoping to differentiate itself from  other  projects by focusing on earning rewards through physical activity rather than exercise alone.

Sweatcoin is a great choice for you if you enjoy walking or running frequently or if you just want to motivate yourself to exercise. To prevent getting disappointed down, however, be aware of its current inadequacies.

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