What Is Sweatcoin & How Does Sweatcoin Make Money?

how does sweatcoin make money
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Have you ever thought of making money out of outdoor activities like – walking? Now, here’s the gist, with Sweatcoin you get paid for ‘each sweat that drops’ while you’re walking or running. I’m sure you know what that means.

In this article, we’ll take you through what Sweatcoin actually is and how Sweatcoin makes money from paying you for stretching your muscles.

Remember, Sweatcoin as a company has no registration charge or fee attached.

Before we go in to details see the table of contents below.

What Is Sweatcoin?

Sweatcoin is a mobile app that monitors your daily outdoor movements which record in the form of cash. You earn about 1 SWC (1 Sweatcoin) per 1,000 steps you make.

That is to say, the digital app tracks and pays you for your movement.

The movement here applies to steps that you take every day and you get paid the same amount in “Sweatcoins” for the number of steps that you have taken.

Sweatcoin is a digital currency like bitcoin that was created by a firm in 2014 to push and inspire people to stay healthy by proposing a reward for every step they take.

Sounds interesting right? As we move further we’ll show you how to kick off on Sweatcoin, how the app works, and how Sweatcoin makes money off your sweat. Oh yeah, you heard me right. It’s a win-win.

Does Sweatcoin Give Real Money?

The London based company awards its users with digital currency — one “coin” for every 1,000 steps you take — whether walking or running while using the app.

All you need to do is keep the outdoor movement active, win enough coins, and exchange them for real-life products and services, like a workout kit or a ballet class. You can also send the coins to friends or better still donate to charity.

To cap it all, Sweatcoin really functions like money as vendors are accepting it as payment. And I can send Sweatcoins to you. You can send Sweatcoins to me,” Oleg Fomenko, the co-founder of Sweatcoin, told CBS News.

SEE ALSO: How To Transfer Your Sweatcoin To Paypal

How Does Sweatcoin Work?

Once you’ve installed the app on your smartphone or wearable and completed the registration process, you can start walking and rack up steps.

Sweatcoin operates on a special algorithm that uses GPS, phone data, and movement sensors (accelerometer and gyroscope) to ascertain how much you’ve walked.

The digital currency operates in the same way as any other blockchain-based crypto-asset where new assets are gotten by performing a certain task. For every 1,000 steps you take, you’ll receive a single Sweatcoin and get 95% of it (Sweatcoin takes 5% commission fee on all generated Sweatcoins).

Sweatcoin’s business model incorporates competition psychology, network effect, along with discounts and referral benefits to keep the users fastened. It supports…

  • Users to contend with others. This helps it spread among your circle, proving to be an inspiration to perform better as well as a method to boost the app usage.
  • 5 Sweatcoins for every successful referral.
  • Spend the Sweatcoins to buy gadgets etc.

How Does Sweatcoin Make Money?

Been wondering how Sweatcoin makes their money? This is it…

The digital app makes money through its brand partners which pay to be featured in the marketplace section of the app. 

In addition to payments from partner brands sand affiliate companies, Sweatcoin also makes money through in-app advertising. Like many other applications, Sweatcoin has integrated Google ads in its revenue model as a secondary source of revenue. That is to say, It also makes money from adverts shown on the app. 

Additionally, users have to ‘pay’ for the fun to have more of their steps counted in the day – it charges them five percent commission from each Sweatcoin generated.

You see, you’re not the only one earning. This organized company makes good cash despite the fact that you don’t pay a dime to get started or earn. All you need to do is register and start sweating to earn.

SEE ALSO: What are Sweatcoin Rewards & Prices in 2021?

Ways To Make Money On Sweatcoin

It’s pretty simple. You have to perform an outdoor activity like walking or running to earn on Sweatcoin. Every outdoor movement can be tracked using accelerometers and GPS location. 

Every 1,000 steps generates 0.95 Sweatcoins and they can be used to purchase products in the in-app marketplace, with prices ranging from five to 20,000 Sweatcoins.

Thinking of what you can purchase with a Sweatcoin? An iPhone XS for 20,000 Sweatcoin. This is the real deal!

What Can You Buy With Sweatcoin?

I might not really tell you what to buy specifically but I’ll give you hints on what a specific amount of Sweatcoin can get for you. What if I tell you that you can get an iPhone XS for 20,000 Sweatcoin. Amazing right?

See the list of the things a specific amount of sweatcoin can get you.

  • A 60-day subscription to Scribd which offers books and audiobooks for 12.99 Sweatcoin.
  • A free day pass to any Payasyougym partner for 5.99 Sweatcoin.
  • A three months free My Spa Pass for 4.99 Sweatcoin.
  • An iPhone XS for 20,000 Sweatcoin.
  • A Curved Samsung TV for 20,000 Sweatcoin.
  • $1,000 cash for 20,000 Sweatcoin.
  • £1,000 Thomas Cook Holidays voucher for 20,000 Sweatcoin

Conclusion

Sweatcoin is a digital currency that has achieved sustainable physical activity behavior change using a viable business model that continuously rewards its users for being active.

For every outdoor step you take, Sweatcoin pays you.

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