Is it really possible to get paid for walking and running? Is this an up-and-coming trend? I think so!
Sweatcoin is an app in the category of “Incentivized Fitness”. Basically, that means you’re rewarded for doing something very healthy! If you don’t know, the Sweatcoin app tracks your outdoor walking and running throughout the day and rewards you (aka “pays you”) in 1 Sweatcoin for every 1000 steps you take.
You save up the coins and use them to buy stuff on the Offers Marketplace. There’s so much on there, and it changes constantly, so it’s best to check back every day. For example when I signed up in 2016, there was an offer that cost either 500 or 750 Sweatcoins (I forget which) for an iPad! These days the offers are mostly stuff like glasses, watches, gift cards, memberships, fitness gear, etc. Remember, most offers will be in the fitness category because that’s exactly what Sweatcoin wants you to do – get fit!
How does the app pay you?
It doesn’t pay you directly. (Well, not yet.) Instead it gives you “redemption points” called Sweat Coins that you use to buy stuff you would normally spend real money for. The offers are heavily discounted – I got something worth $150 in exchange for Sweatcoins, and I also had to pay a small shipping and handling cost, but that was it!
If you are desperate for some coffee money, you can find other users of the app to sell your coins to and they’ll likely send you PayPal in return. However, it’s a bit dangerous to go about it that way because so many people have gotten scammed by trying to sell coins to others. So I recommend keeping your Sweatcoins in your account and wait for an amazing offer to spend them on.
Will you be able to get paid real cash for walking in the future?
Maybe! In January of 2018 they announced that they are working on a Blockchain for Sweatcoin which means this digital currency will be in the same category as Bitcoin. However we don’t know much about that yet. If/when the Sweatcoin blockchain “ICO” (Initial Coin Offering) releases, then there will certainly be a lot more attention directed to this incentivized fitness app.
How hard is it to earn Sweatcoins?
Not very hard at all. The app is “silent” – it runs in the background. You just gotta make sure it doesn’t crash by checking in on it once awhile. (This is an issue they are aware of and will likely be fixed by the time you read this.) I also recommend checking the offers marketplace once every day to see if there’s any new “too good to be true” offers. (I still wish I had the coins to buy that iPad in 2016!)
You’re limited to 5 Sweatcoins a day unless you upgrade your membership tier, which is purchased only using Sweatcoin. The app never asks for credit card information! But some of the offers websites do.
The average athletic and physically active person may earn about 7 coins per day. I am a runner, and I earned about 1 coin per 1 mile I ran. Or 0.6 coins per kilometer. Walkers earn more coins per mile, about 1.5 – 2.0 coins per mile. That’s because they take more steps per mile.
Will Sweatcoins be worth a lot some day?
There is no limit to how many Sweatcoins can exist. The only limit is how many coins each person can earn per day. (The current limit is 20 coins for the Breaker subscription.) Therefore it’s not likely they’ll be worth $1 or more each. My personal best guess is about $0.20-0.25 U.S. Dollars each assuming the app becomes widely used around the world.
With that said, coins are selling on online communities for about $0.02 – 0.08 each based on market demand. The demand for Sweatcoins increases when there are a lot of news and media coverages for the app. Then the value drops when there’s no new feature or announcement released.
Where is Sweatcoin going, then?
After the team fixes bugs, increases step conversion (the math that calculates how many steps you take and rewards you), prevents cheating/exploits, and releases around the world, then it’s likely they’ll work on adding more and more features.
However, the app is still in its infancy – they’re still just getting started! So the pace will be a bit slower until their company grows and they receive more investments.