Sweatcoin App Review – Get Paid To Get Fit, And Here’s How!
Welcome to my Sweatcoin review!
An app that pays you (in cryptocurrency at that) to get fit? There's no such thing right?
You're wrong my friend. Such an app exists, and I am talking about Sweatcoin!
First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.
That's the way to avoid scams and find the legitimate way to make money online!
Let me be completely transparent with you, I'm not associated with Sweatcoin in any form.
So, rest assured that I'm not here to pitch or sell anything to you.
Instead, I'm here to reveal what Sweatcoin is all about and its distinct features that separate it from all the other fitness apps.
But before you decide to join in on the fun, check out my Sweatcoin app review in its entirety...
Sweatcoin Review Summary
Product Name: Sweatcoin
Founder: Oleg Formenko Ranbir Arora and Anton Derlyatka
Product Type: Get Paid to Walk Fitness App
Price: Free to Join or with Optional Monthly Subscriptions.
Best For: People who want to be motivated to stay fit or get fit, or those who want to make a little money out of the most common activities.
Summary: Sweatcoin is not a scam, and it's a very interesting program for a few reasons, apart from it being a cryptocurrency-based program. There's no catch, there's no commitment involved. And there are a few more reasons why I recommend this product. First, it's very easy to use. There's nothing complicated about the app. You walk, you get coins, you trade it in for cash. It's that simple. Second, it's a brand new way to make money. Any app that provides financial motivation to to do anything (and as long as its legitimate and safe) is fine by me. Lastly, people got paid (and there's proof!) There is no better way to prove that this product is as legit as it gets other than people getting paid.
What is Sweatcoin?
Sweatcoin, under SweatCo Ltd, was founded by digital entrepreneurs Anton Derlyatka, Oleg Formenko, and Ranbir Arora on January 31 2015.
The company is currently based in London, UK.
Sweatcoin is also an interesting app because it allows you to earn money while walking, so it’s kind of similar to other apps like HealthyWage.
Like all other cryptocurrencies, Sweatcoin caught the attention of both the public and the media. Their app was featured on sites like Forbes, Reuters, and The Telegraph.
And the reviews from these press sites were quite positive. For me, that helps build credibility on the program.
Sweatcoin is a mobile app that pays you in their own digital currency (cryptocurrency) of the same name for moving.
The app tracks your steps and pays you in their virtual currency which you can redeem for rewards.
The founders believe that this is a good way to motivate people to become healthier or to become one step closer to their weight loss goals.
They believe that the lack of motivation to exercise or to stay fit is due to our human nature, which is the need for more immediate rewards.
So, what they did was provide some form of instant gratification whenever someone decided to workout or exercise.
There’s only three steps to making Sweatcoin work for anyone.
- Sign up for Sweatcoin. It’s free and can be downloaded on both Android and iOS devices.
- Start Walking. Just let the app run in the background and allow it to track your steps.
- Exchange coins for rewards. The app will allow you to trade in your Sweatcoin for cash or product rewards.
How Do You Earn Sweatcoins?
So for every 1000 steps you walk, you get 0.95 Sweatcoins.
Seems easy enough right?
Now, there’s a catch. You can’t use the app while you’re on a treadmill because it’s unable to track how many steps you’ve taken on the machine.
Other gadgets like Fitbit can’t also track your steps on a treadmill, so my guess is that this is more of a software issue than anything.
But you’re only limited to earning 5 Sweatcoins per day, which is about 5000+ steps. In a month, that’s about 150 Sweatcoins.
SweatCoin Account Plans
Members are automatically enrolled into the “Mover” account, which is the free account.
There’s no free trial version or anything.
So these are the different accounts of Sweatcoin:
- Mover – Free, Earn up to 5 Sweatcoins daily or 150 per month
- Shaker – Costs 4.75 Sweatcoins monthly, earn up to 10 Sweatcoins per day or 300 per month
- Quaker – Costs 20 Sweatcoins monthly, earn up to 15 Sweatcoins per day or 450 per month
- Breaker – Costs 30 Sweatcoins monthly, earn up to 20 Sweatcoins per day or 600 per month.
What Are The Cash/Physical Product Rewards?
Members can trade in their Sweatcoins for rewards. As of this writing, Sweatcoin offers two rewards: Cash and Product.
1. Cash Rewards
This is basically cash offered through a Paypal gift card.
There are two redemptions available.
- $50 Paypal Gift Card can be redeemed for 3,650 Sweatcoins
- $1000 Paypal Gift Card can be redeemed for 20,000 Sweatcoins
To me, you earn 365% more if you just wait for the $1,000 gift card.
2. Product Rewards
There are new product offers on the Sweatcoin app posted dail.
These vary ranging from a 1 month free of some subscription box or a small product worth around $10 to $20 in retail.
There are also Fitbit rewards offered on Sweatcoin, which is fitting to say the least given that Sweatcoin is also a fitness app.
Apart from Fitbit, there are also high-cost redemptions that involve electronics and gadgets, depending on the daily offers.
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Where can I get Sweatcoin?
Sweatcoin is available on both smartphones and wearables like Fitbit and Apple Watch.
Sweatcoin is designed to work with iPhones (iPhone 5S and newer devices), while Android phones will need to run at least Android 4.4 or newer.
Is Sweatcoin Safe?
Okay, let’s get rid of the elephant in the room.
No one likes to be tracked everywhere, and for a good reason. Sweatcoin will probably have access to your data, which is quite troubling because where is the data going and how are they going to use it.
They’re only a fitness app, so why would it need your data, right?
But turning off the location tracker will render the app useless.
Their entire policy also discusses the many uses of personal data, which is why they made it clear on their policy that they’re going to take good care of it.
As for me, this is more than enough to at least guarantee that my personal data is going to be protected within standards.
Who's Sweatcoin For?
Sweatcoin is the perfect app for:
- Anyone who wants enough motivation to start living a healthy life
- Anyone who wants to make money out of their daily fitness routine
What I Like About Sweatcoin?
#1 - It’s Really Easy To Use
You’d think that cryptocurrency-based products or services would require a lot of technical expertise to maximize profits.
But in all honesty, Sweatcoin makes it really simple to get started with cryptocurrency.
The app itself is a run-and-forget type of app, so you just make sure to turn it on and then you can go with the rest of your day.
#2 - It’s A Revolutionary Way to Earn Money
To me, it’s actually a decent way to earn a little bit of money from something you’re already doing. I mean, if you’re already walking to work or school, might as well make a little money out of it right?
Allow me to do some quick computations.
An average person takes about 1,250 steps per kilometer.
Let’s say that I walk at least 5kms per day in total.
That’s about 5,000 steps, which is the maximum number of steps that I can take for the free account.
I get about 5 Sweatcoins a day at that rate.
How long does it take for me to cash out at $50?
Just about 730 days, or 2 years if I’m walking 5 kilometers a day.
Just by walking 5 kilometers a day, I can pay off the monthly fees for the Shaker plan, which is 4.75 Sweatcoins.
I can double my earning potential and it would be worth it if I'm walking more than 5 kilometers a day.
Now, here’s what you’re thinking.
Why would it be worth your time if it takes you at least 2 years to cash out?
Sweatcoin was never meant to be a source of full-time income. If they intended to provide you with more income, they’d be using a different business model.
It was meant to be a casual way of making money out of your daily routine, or to motivate people into being more active.
If you want a full-time income online, I’d invite you to take a look at my step-by-step guide on affiliate marketing.
#3 - People Got Paid
In the world of cryptocurrency, a lot can go wrong because it’s intangible and new.
While others are making headway with finding positive uses for the digital currency, there are those that try to make a scam out of it simply because a lot of people are still uninformed about it.
But one thing that Sweatcoin tried to do is to prove to people that they are, in fact, worth trying.
This is because people actually got paid by using the app. This is all that anyone needs to see if an app (whether it's Sweatcoin or another app) is worth trying.
What I Don't Like About Sweatcoin?
#1 - Their “Pay To Earn More Model” Is Very Limiting
I didn’t like that you had to pay them to earn more. Granted, you only had to pay in Sweatcoins, it’s still a very hindering factor.
I get that you’re using your income to pay for the app, but to me, that could be possible income to add more to your pocket.
But it doesn’t mean that their model is bad either.
As I mentioned earlier, for 5kms which is about 5 Sweatcoins, you can pay off the cheapest monthly fee for the Shaker account and double your earning potential.
The upside here is that they don't require actual currencies to pay for the subscriptions, so you're not throwing away real money just to earn more money.
#2 - Cryptocurrency Is In A Fragile State Right Now
Cryptocurrency is in a fragile state right now. Bitcoin, one of the most popular cryptocurrencies, continues to take a plunge in the market over the last few days.
Sweatcoin may not be as valuable as Bitcoin, or have any effect on the market for that matter, but it’s safe to say that it will be tradeable soon in other platforms.
#3 - Income Potential Is Low
Despite allowing you to earn income, your income potential via this app is really low.
For the free account alone, it would take you two years to cash out your $50. Some people may not have the patience to see that through.
The paid plans might be able to speed things up, but at the cost of chewing into your potential income.
Is Sweatcoin A Scam?
Sweatcoin is not a scam, and it’s probably one of the most interesting products that I’ve ever reviewed to date.
It’s revolutionary in a way that it just requires people to start walking to start earning. There’s no catch, there’s no commitment involved.
That’s why I can recommend this to anyone who wants to earn money while being more active, or who need motivation to start being more active.
First reason why I recommend this is that it’s easy to use. Cryptocurrency is a very complicated and technical topic, but the app makes it easy to understand the value of it.
You walk, you get coins, then you cash your coins in. It’s that simple.
Second, it’s a revolutionary way to make money. Any other app that tries to provide you with financial motivation to start being more active is okay by me (and as long as they’re legitimate and safe).
Lastly, people got paid. There is no better proof of any program’s legitimacy other than people getting paid.
But keep in mind that there are also a few downsides to this program.
First, their pay to earn model limits your income potential, especially if you do walk for more than 5 kilometers per day.
While it doesn't require you to pay in real cash, it still takes away from your income in Sweatcoin.
Second, cryptocurrency is in a fragile state right now. Bitcoin, the largest cryptocurrency in the market, continues to crash in terms of value.
Granted, Sweatcoin may not be traded on the market yet, but I'm pretty sure it's headed that direction.
Lastly, the income potential is really low. It would take you at least two years to cash out your Sweatcoins for a $50 Paypal gift card.
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