![]() ![]() And while the others apps tend to convert your points into offers and discounts, Sweatcoin lets you buy real world products, not just get money offĪ currency you generate by moving more, that has strong real world value, is a potentially powerful ideaĪt the time of writing you could use Sweatcoins (SWC) to purchase a month of unlimited magazines on Readly (15 SWC), a wearable baby thermometer (3,795 SWC) and even an iPhone X, £1,000 Thomas Cook holiday, a Samsung TV (20,000 SWC). Whereas these other apps let you clock up reward points for your efforts, Sweatcoin has been designed to feel like you’re actually mining a futuristic currency. Running Heroes, MyMoneyTime and CharityMiles have all been around for a few years though there is a subtle but crucial difference. Sweatcoin isn’t the first app to convert activity into rewards. If steps equals stuff, then as runners we’re perfectly placed to turn our effort into rewards. ![]() The concept is simple enough, the more steps you take the more Sweatcoins you earn, and these virtual coins can be cashed in for real world goods. But can you really turn your sweat into stuff? I’ve spent a month the app doing a Sweatcoin review and here’s everything you need to know about fitness’ very own crypto cash. Those interested in checking out the app can download it on either iOS or on Google Play and start earning their sweat equity today.Crypto currencies are big news right now. Bitcoin is booming (and maybe busting), scores of me-too digital money makers are scrambling to get their coin into the virtual gold rush, Facebook has banned crypto ads, and even the people listening for aliens are struggling to do their job because all the computer hardware is being sucked up in the frenzy to mine this magical money. T he digital currency fever has crept into the fitness tech world too thanks to Sweatcoin, a smartphone app that lets you earn while you burn. “We are out to fundamentally change the value ascribed to health and fitness and provide the motivation for people to lead better lives,” Fomenko said. Other co-founder Oleg Fomenko also mentioned plans to develop an “open-source blockchain DLT technology that will allow Sweatcoin to be traded like any other major crypto- or fiat currency.” markets to other English-speaking countries, then on to continental Europe and Asia.Ĭo-founder Anton Derlyatka also told TechCrunch he’d like to “even include the ability to pay taxes with sweatcoin” in the future. Sweatcoin founders say they plan to use the funding to expand outside of the U.S. The startup has now raised its own coin to the tune of $5.7 million in seed from Goodwater Capital, which led the round, Greylock, which participated through its Discovery Fund, Rubylight, Seedcamp and SmartHub, as well as a number of angels, including Justin Kan and Rain Lohmus. However, you can earn more if you’re willing to fork over some of those sweatcoins per month to get you in the upper tiers and make some real sweaty moolah toward that coveted Fitbit or whatever fitness gear you’ve got your eye on. 33 in sweatcoins today, for instance, so don’t feel badly if you aren’t hitting that 10,000 step stride.Īnother reason you may hit a wall of motivation in the app is that the free version limits you in how many coins you can earn a day to just five. ![]() That makes it a bit hard to earn my coins - I’ve only earned. Note: I’m in my third trimester of pregnancy so I’m not exactly going the distance (just walking up the stairs feels like I’m trying to climb Mount Everest some days). The app says you can only earn these coins by walking outside so it theoretically doesn’t count if you are walking on a treadmill at the gym, though the app on my phone seems to count steps inside my apartment, as well. 95 in “sweatcoins.” Users can later trade these coins in for fitness gear, workout classes, gift cards and a number of other offerings. For every 1,000 steps recorded, the app will pay out. The app then tracks how many steps you take in a day and rewards you a monetary “sweat” value according to your movements. ![]() It works like this: users sign up and then hook up their smartphone’s health and fitness data and GPS location to the app. There are more than 2 million weekly active users on the app, and growing, making it one of the fastest-growing fitness apps in the App Store and second to the top in the free apps, next only to the Google Arts & Culture app that blew up over the weekend. The startup says it has accumulated more than 5 million users in the past year and increased revenue by 266 percent in the last quarter. Want a way to workout and earn some coin? Sweatcoin has risen to the top of the App Store for helping folks get something more than just a glow for taking those daily steps. ![]()
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