Many users have been asking me if Sweatcoin is safe. Earning cool swag for absolutely free is definitely a cause for raised eyebrows, but I want to ease your concerns. Here’s a summary of this article:
- You download the Sweatcoin app securely from the App Store.
- Then you sign up for a Sweatcoin account using your phone number and email address.
- After verifying your information, you can begin earning coins.
- The app requires no credit card information.
- All things you can buy in the app cost Sweatcoins only.
- Once you redeem an offer, you may be directed to another website to complete the purchase.
- If you want to upgrade your Membership Tier, you only use Sweatcoins.
- … Therefore, it’s entirely safe to use without any “catch”!
Here are more details about the app:
If you know of cryptocurrencies like Bitcoin then you know that these coins are generating money out of ‘thin air’ so to speak. These digital cryptocurrencies have nothing physical to show for them. Their value is only what people place on them. So you could equally ask, “Is Bitcoin a scam?” and even if you answered, “yes,” the numbers don’t lie; people are paying thousands of dollars for one Bitcoin. Crazy!
Sweatcoin is similar, but you earn them very differently than other “cryptocurrencies”. Watch this video to find out more!
“Is Sweatcoin Legit or a Scam?”
Sweatcoin is a bit different than the digital currencies. Its value comes from the exchange-rate for the offers in the store rather than exchange-rate for USD. The value of 1 SWC differs between offers as well. 1 Sweatcoin might be worth for one offer, but only for another. That is why knowing how to determine an offer’s value is critical.
Have more question?
Back to the question, is it really safe?
Sweatcoin is entirely safe to use because it collects anonymous data and rewards you with digital points/coins. It asks for no personal information except for your first name. It does require an active phone number, which is entirely necessary for you to use the app and earn coins on your phone.
There’s no obvious way to know how Sweatcoin gets the money to offer these free products on its app. The most logical and probably reason is that Sweatcoin is receiving free/donated products from the providers in exchange for advertising. When you open the Offers tab, you’ll see branded images and logos of the companies involved. This is essentially advertising.
Before Sweatcoin, I didn’t know about the Try The World subscription box, or Online Yoga Class, or a digital watch that can help cut bad habits, and so on. These companies effectively advertised on Sweatcoin’s platform in exchange for a few products.
Another reason is that Sweatcoin soon plans on having a valuation to USD/British Pound. This is another likely scenario. Sweatcoin may inform the offer providers that exchanging their products for Sweatcoin will have long-term value when Sweatcoin can be traded for fiat (physical) currency in the future. This creates a competition between offer providers to offer highly discounted offers in order to amass more Sweatcoin for future selling.
Summary: Sweatcoin is not a SCAM!
I’ve had nothing but positive experiences with this app. But that’s just my personal experience. Others may differ.
As of writing this (in September 2018), I have purchased 12 offers. My steps have gained me physical products equivalent to about $500 USD if I were to buy them with currency. The purchase process was incredibly easy, and the products were top quality.
Check out my Sweatcoin Review!
Want to read more about what I have to say about Sweatcoin?
More questions? Read the Sweatcoin FAQ!
You will find answers to all your questions about Sweatcoin.