As the world is getting more and more advanced in science and technology, the internet keeps providing people with diverse ways to make money.
However, Sweatcoin’s unconventional offers to customers stand out as one of the most mind-blowing ways to make money in this our modern-day society.
Whereas it is customary for fitness apps to motivate their customers to achieve their fitness goals, only a handful of fitness platforms compensate their customers for making an effort towards their fitness goals every day.
One such platform is Sweatcoin, and they compensate customers with a unique currency that can later be cashed out as a cryptocurrency.
The need to balance work, family and social life with the hustling and bustling of our metropolitan areas often leaves us little respite for exercise and general body workout.
For the working men and women out there, the choice often boils down to choosing between non-money-making engagements and money-making ventures. However, with apps like Sweatcoin on your phone, you can concentrate on your body and health, even as you make money on the app.
What is Sweatcoin?
Sweatcoin is a mobile application that claims to compensate users for walking. It was created by Oleg Fomenko, Egor Khmelev, and Aton Derlyatka.
These three tech-savvy entrepreneurs created Sweatcoin with the mindset that physical movement such as walking has a monetary value. So they made an app that monitors your strides throughout the day and compensates you with the cash worth of your physical movement.
To estimate the monetary equivalent of the user’s movements while the app is functional, the app uses the accelerometer and GPS in the user’s phone to monitor physical activities. Once the user starts walking, the App will begin converting the user’s steps into Sweatcoins.
When the user has accumulated enough Sweatcoins on the platform, he/she can withdraw the dollar equivalent of the amassed Sweatcoin with PayPal.
The app also offers product compensations in exchange for the sweatcoins accumulated from your daily exercise. Product rewards may include, televisions, smartphones, and more.
Is Sweatcoin a scam?
All things considered, Sweatcoin is a genuine platform that pays real money. While it may sound too good to be true that a fitness app can pay you for simply walking from your home to your destinations, this app begs to differ.
On the other hand, Sweatcoin cannot provide the kind of compensation that you would with an actual job. But if you need that extra cash to deal with minor expenses, Sweatcoin should be on your phone.
Pros of Sweatcoin
1. Pays you to walk
One of the greatest standpoints of the sweatcoin app is that it pays users to walk with real money.
You don’t have to worry about not getting paid for your effort, this app will compensate you with the Sweatcoin worth of your steps. However, don’t expect to make money in millions of dollars on the app.
2. Sweatcoins can be converted to cash or rewards
Whereas users accumulate their earnings on the app in sweatcoin cryptocurrency, they can convert it to their preferred option of payment when it reaches the payment threshold.
The app gives you two options; you either convert the sweatcoins to cash using PayPal or withdraw a product equivalent.
3. Available on a range of devices
Another thing you’ll come to love about this app is that it is available on a range of devices.
You can download it to your Android and Apple phones and start accumulating your Sweatcoins.
4. Simple interface
You don’t need to be a rocket scientist to operate the Sweatcoin app, as they make it easy for everyone to use the app without external assistance.
Just download the app to your phone, hook it up to the internet, and switch on your phone’s GPS.
5. Promotes healthy behaviour
Whereas many people choose this app because of the financial gains, they often forget how much this app helps in keeping up their health. The Sweatcoin app is a fitness app, and as such, using it can help you stay fit and healthy.
Besides, it provides cash compensations that you can use to purchase nourishments to boost your health.
Cons of Sweatcoin
1. Limited rewards
Sweatcoin offers cash rewards for every step you take using their app, No doubt. But the rewards offered to users are very limited.
Unless you sign up for a paid plan on their platform, you’ll have a hard time accumulating tangible rewards on the platform.
2. Occasional Glitches
Sweatcoin is a relatively new app, which means it is prone to certain inconsistencies in the service provided.
While we expect a better app with fewer bugs and glitches, occasional you may experience a snag in the operation of the app.
3. Drains battery quickly
To earn money using the sweatcoin app, you must leave it open on your phone.
Keep in mind that the Sweatcoin app needs your phone’s accelerometer, GPS, and an internet connection to function properly. In this way, your phone’s battery will drain faster than usual.
Sweatcoin is a legit fitness app that pays you to walk. Although the rewards are somewhat limited, you can earn a fair amount for walking from your home to your destination via this platform.
Moreover, it can help you stay fit.
Thanks for reading, please let me know your thoughts and comments below.
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Sagar Sridhar is a personal finance blogger from Canada. His genuine passion for personal finance coupled with his unique style of writing is what stands out. Professionally, he is a computer engineer, agile certified and has a master’s degree in Project Management. His writing has been featured or quoted in the leading Canadian publications such as Credit Canada and many other personal finance publications. While he is juggling between his day job and blogging, he is the main author on this blog and has miles to go before making the final pit stop.