Can you Convert Sweatcoin into Bitcoin?
At this time, there’s no way to convert your Sweatcoins into Bitcoin by any official means. Because this app is fairly new, the creators are still building out the base functionality. Included in desired functionality are most likely several methods of exchange. It seems incredibly reasonable to believe that Sweatcoin will eventually be tradeable for Bitcoin between users.
Until that’s the case, Bitcoin investors will have to find willing parties by their own mean.
Before I continue on this question, let’s talk about
Should I Invest In / Save My Sweatcoin?
Before you invest in any digital currency, you have to ask yourself, “Do I see this currency being successful in the months and years to come?” It might be pretty obvious to you already that Bitcoin is highly successful. As of originally writing this, the price hovers around $17,000 (USD) per Bitcoin. Within days – even hours – this value will be outdated; that’s just how fast the Bitcoin market is evolving!
September 2018 Update: The price plummeted to $6,000 USD and has stayed there for awhile. That’s an example of just how volatile the market is. Those who held onto their digital investment during December 2017 and January 2018 time hoping that the price would go even higher beyond $20K, have realized that “HODL” is not always the best. However, one should not blame self for not selling, because the price just as easily could have increased. Simply put, you cannot predict the Bitcoin market – or that of any cryptocurrency! Many sites, such as CryptoForexGuide, give sound investment advice by pairing cryptocurrency to volatile stocks (such as Penny Stocks) as well as Foreign Exchanging. These investment opportunities have been around for decades, and many are turning toward cryptocurrency as a new method of investing.
However, let’s go back to Sweatcoin. Should you invest?
You might believe that Sweatcoin has great potential, much like Bitcoin, Litecoin, Dash, Ethereum, and the others. If you truly believe that Sweatcoin — pioneered by it’s brilliant creators – will be something desired by a large percentage of the population, then it may be worth investing.
As of this moment, Sweatcoin is a “Buyer’s Currency” which means there are many sellers and too few buyers. Because of this, the buyers determine the price, not the sellers. If you’d like to get involved in Sweatcoin, consider investing a modest amount in anticipation for what the future brings.
Because the story Sweatcoin is only just starting out, it’s reasonable to think that it has “nowhere to go but up.” Before you willingly dump your Sweatcoin to the first seller, first ask yourself if you think that you might later regret that decision.
If You Want to Sell Sweatcoin For Bitcoin
There might be a buyer waiting for your Sweatcoin! Hop on over to the Reddit Sweatcoin Forums and ask. Include how many Sweatcoin you have for sale and your desired price (if you have one). There’ve been many people who have received Bitcoin in exchange. However, as I said above, because it’s a buyer’s market, you may not get as many Bitcoin as you’d like. Also, the price of the name-brand cryptocurrency is going up which means people may not be so willing to let go of their coins for your fairly new Sweatcoin.
I personally recommend saving what Sweatcoin you can. Browse the offer marketplace once or twice every day. Pay attention to how much value each offer gives you and determine if an offer is worthy of purchase. You may be surprised to find a specific offer gives you a high value in exchange for only a few coins. For example, about 6 months ago I stumbled on the “Try The World” subscription boxes. They provided $30 off a subscription box of $39 for only 30 Sweatcoin in return. This came out to a value of $1 savings per Sweatcoin! I did this offer every few months until they increased the price substantially. (Though the offer is still well worth it even at a higher price.)
If you choose to save your coins, you may thank yourself in the future if / when Sweatcoin becomes an app / digital currency known by mane around the world.