Is Sweatcoin a genuine way to get more fit and earn cash at the same time?
Sweatcoin is an app that promises to make you money while you walk. The basic principle is that the actual steps you take earn you sweatcoins which can then be used to purchase things or can be retrieved for cash. More people are becoming more health conscious and trying to work out more so this app sounds great, what is there to lose? Well, basically nothing. It may not make you a billionaire but you can definitely make some extra cash to play for those Grande Vegas casino bonuses.
Is Sweatcoin a trick or is it legit?
The app appears to be totally legitimate. You can certainly purchase on their marketplace and what they promise seems to be attainable. They have an established 5 million users which is no small number. They have also been reviewed by some very reputable newspapers and journals like Forbes and the New York Times. Initially, there seems to have been some tracking issues but these seem to have been resolved and the app has greatly improved since it was introduced.
You can download the app directly onto your mobile phone – the process is very simple and straightforward. You need to put into the app the number of steps you anticipate to make each day and obviously you have to agree for it to track your location.
The tracking aspect of the app is a little uncomfortable, as few people like being tracked, but without the tracking aspect you will not be able to earn those Sweatcoins which of course is the big motivating factor. However, the data obtained is probably useful to the company notwithstanding the fact that its official purpose is to promote fitness. The moment that you have signed up, you start earning Sweatcoins, as it starts counting your steps immediately.
How much money can you actually make?
Well let’s just say that you are not going to get rich from this. But for every 1000 steps you take outside of your home you earn one Sweatcoin. Steps are not counted inside your home. But anything you earn for just walking around has to be worth downloading the app. Obviously the more you walk, instead of taking the car, will earn you more Sweatcoins. For 20,000 Sweatcoins you get $1000. One Sweatcoin is equivalent to 0.05 dollars. So not a lot but if you are walking around anyway, you might as well earn a bit of money.
To earn $1000 using this app is a little more complicated however. Firstly, Sweatcoin does charge a 5% commission for every 1000 steps. Therefore, that means that 1000 steps are actually equivalent to 0.95 Sweatcoin.
There are ways to increase your earnings.
You are able to earn a maximum of 5 Sweatcoin daily and up to 150 Sweatcoin each month. However, 4 distinct membership tiers will enable you to improve on this. If you join the “Breaker” tier and pay 30 Sweatcoin each month, this will enable you to earn 20 Sweatcoin each day and 600 per each month. This is the highest.
If you pay a visit to the app and watch an advertisement you will earn yourself 1 extra Sweatcoin per day.
When someone joins Sweatcoin because of your referral you are able to earn 5 Sweatcoins.
How and when do you get your $1000?
- If you are earning 600 sweatcoins each month at a price of 30 Sweatcoins , and you are in the highest membership tier.
- You receive 1 Sweatcoin per day when you visit and watch an ad every day.
- And you refer someone to Sweatcoin every other week which equals 5 Sweatcoins every other week.
There are different membership tiers, ‘Breaker’ being the highest.
It is possible to earn the below amounts in one year:
- For walking – 7200 Sweatcoins
- For watching ads – 365 Sweatcoins
- For referring – 130 Sweatcoins
- For membership in the highest tier – 360 Sweatcoins
So, the final figure is – 7200 + 365 +130 + 360 = 7335 Sweatcoins each year. Therefore, you will earn your $1000 in 2.73 years. As we said previously, you will not get rich with this app but you can make some money with very little effort.
Become a Sweatcoin Influencer and earn more money
You can become a Sweatcoin Influencer once you have referred at least 30 people to the app. Once you become a Sweatcoin Influencer you gain access to a marketplace offering other deals, you will get more money and it allows you to cash out your money quicker.
The minimum payment for influencers has been $100 and an influencer earns $100 for referring 50 people. Depending on the size of your network, it is possible to make some more money using Sweatcoin.
So, what can you buy with your Sweatcoins?
It is possible to use your Sweatcoins and purchase things in the app’s marketplace. They offer a whole variety of consumer items like phones, jewelery, televisions and also things concerning travel like inexpensive plane tickets. You can sometimes find really good deals instead of waiting to cash out.
Pluses and minuses of Sweatcoin
Check out the list below:
- It doesn’t cost anything to use it.
- It is very easy to start using the app.
- It doesn’t demand a lot of effort.
- You can actually make real money.
- There are possible ways to make more money, like becoming a Sweatcoin Influencer.
- You are motivated to walk more and that is a health benefit.
- The app does have a marketplace with some good deals.
- It is very easy to use.
- Your location is being tracked and your data is likely to be sold on.
- You do have to wait some time to get a good payout.
- You are not going to get rich by using this app.
- The membership system, together with the 5% commission is a bit complicated.
Who should download the Sweatcoin App?
If you don’t mind a third party getting your data and you’re into earning a little extra for doing very little then this app is probably good for you. You are walking around all the time anyway, so why not earn some money at the same time.