Sweatcoin: what is it, how does it work and how to withdraw?
Learn more about the Sweatcoin app and the benefits it offers to users
Announcements
Have you heard of the Sweatcoin app? It's an app that pays you to get in shape.
It may seem strange, but that's exactly what it is! And that's why so many people are downloading this app, which rewards users according to certain activities they perform.
And if you want to know how it works and how to make money with the platform, you're in the right place!
Read on to find out more.
What is Sweatcoin?
Sweatcoin is a fitness app that rewards users for their walks with virtual coins.
Launched in 2016, the tool already has more than 60 million users and is available for Android and iOS.
Basically, the app works like this: for every 1000 steps taken, the user earns a coin, called sweatcoin.
These rewards can be exchanged for items in the platform’s store, such as yoga classes, shoes, among others. In addition, you can use these “prizes” to make donations.
However, for now, it is not yet possible to convert the currency into real money. Soon, Sweatcoin will have its own cryptocurrency.
How does the app work?
This app that “gives you money” works in a very simple way.
When installing it on your phone, you will need to create an account and accept the permissions.
It needs to be connected with other standard activity tracking apps, such as Android's Google Fitness and Apple's Health.
This way, while you have your cell phone, it becomes possible to “record” your steps by leaving the application open.
The tool itself will count the steps, which will be converted into Sweatcoins.
You can also earn rewards by watching advertisements that are broadcast on the platform and by inviting new friends to use the app.
Referral banners are located on the app's home screen.
Is the app reliable?
This is a very common question among users who are interested in the tool, but don't know if it is safe.
It is important for you to know that the platform has been approved by the security systems of the Google and Apple stores.
The app is free, due to the ads and advertisements that appear quite frequently.
How to download the app?
To begin, you must open the Play Store (Android) or App Store (iOS) on your cell phone.
After that, type “Sweatcoin” in the search bar.
The first option should be the application. Click on it and then on “Install”.
Once the installation is complete, click “Open” or search for the app on your smartphone.
When you create your account, the application will be available for use!
How to withdraw money?
Payment is made via virtual currency.
For now, the user can spend the accumulated sweatcoins in the app store.
However, as we have already mentioned, the platform is developing its own cryptocurrency, which could exchange virtual currencies for real money.
The cryptocurrency is expected to be launched later this year.
Some users have reported the option to transfer and convert balance to a Paypal account. However, many claim that this option does not appear on their smartphones.
To find out if the app allows transfers, go to your virtual wallet and see if a PayPal logo appears. If it does, tap on the logo and follow all the instructions in the app.
In addition, there is another withdrawal option, participation in the Influencer Program. However, to participate, you need to invite more than 20 people to join the application.
People need to register for the action to be confirmed.
The app will then display invitation goals to reach and redeem the dollars.
These values change depending on the target achieved. Furthermore,, the program participants have the option to withdraw via Paypal.
How much is virtual currency worth?
The platform does not disclose the exact value of each coin.
However, one Sweatcoin is equivalent to every thousand steps. For most users of the app, the accumulated balance can be used to make purchases in the Sweatcoin online store itself.
Most of the store's products are vouchers for subscriptions to streaming services or discounts at partner stores.
Each discount coupon is equivalent to US$ 25.
As for the auction, users can bid with the virtual currency to purchase certain products. In general, the average bid is 29 thousand sweatcoins.
Premium Plan subscribers earn double, but the price is more expensive: R$ 35.99 per month, or R$ 179.99 per year.
What are the ways to use sweatcoins?
See the best ways to use your sweatcoins:
Exchange your steps for coupons in stores
This is the best known way to get benefits when using your sweatcoins.
From 5 sweatcoins, you can exchange your virtual coins for discount coupons in partner stores of this platform.
Coupons can be exchanged for products, streaming services and even app subscriptions.
Donations to NGOs
If you want, instead of using discount coupons, you can also make donations to organizations and other social causes.
The platform has partnerships with several charities and suggests different causes for users.
Participation in auctions
Using coins, you can purchase products at lower prices, through bids in auctions promoted by the platform.
What are the main disadvantages of the application?
Payment is not in cash and it takes a while to convert steps into rewards.
After all, as a thousand steps are equivalent to one Sweatcoin, it can take time to get a certain amount of virtual coins.
However, there are cheaper items, such as personalized bracelets, for example. Donations to certain causes are more affordable: the fee is 5 sweatcoins.
Conclusion
Now you know what Sweatcoin is and how this platform works.
If you found it interesting, it's worth downloading the app and enjoying the benefits!
After all, with just 5 sweatcoins, users can exchange virtual currencies for certain products or services.
