If you’re looking to make some spare change using a phone app, then you NEED to learn about Sweatcoin. It’s an app that rewards you in digital coins for steps you make while walking and running outdoors.
How do you make money with this app?
You don’t make money directly. When you walk 1000 steps, you earn 1 SWC. You can earn anywhere from 5-20 max coins per day depending on your ‘membership tier‘. You use these coins to purchase offers in the marketplace.
A lot of people ask me, “How do I turn my coins into PayPal or money?” Right now (in 2018) you cannot directly do that. However you could sell your coins to other users for a few cents each coin. I recommend saving all the coins you can.
You will be able to trade Sweatcoins for money on the app!
In early 2018, SweatCo (the creators) announced that you will be able to soon trade your coins for money or cryptocurrencies on an exchange. That’s because Sweatcoin is building out a ‘blockchain’ to keep track of who sends coins to who. This means that the app would function like a very small version of Bitcoin if you’re familiar with it.
Will Sweatcoins be worth a lot of money?
The value of Sweatcoin is going to be limited – so no, don’t expect a $1 coin any time soon. That’s because everyone can equally earn Sweatcoins from their steps. That means there are a LOT of coins being created every day, and there will never be a limit to how many coins can be created (except of course due to the daily max of 5-20).
The Sweatcoin Website shows (as of writing) 1.4 Trillion steps! If that’s true then there are about a billion Sweatcoins floating around.
So, don’t expect to get rich off of Sweatcoin, unless of course you buy Sweatcoins and their value increases a lot.
How will I be able to turn my coins into money?
When the Exchange releases, you’ll likely have the opportunity to sell coins to other users. When this happens, cryptocurrency investors will begin flocking to the app to see if they can invest and make money with Sweatcoins (even if they do not walk/run to earn them) so that will increase demands for the coins.
If you have a lot of coins when the exchange releases, then you might see a big opportunity to sell coins to make a good amount of money. I have heard of some people saving 10,000+ Sweatcoins waiting for this day.
SweatCo wants to make it very easy for you to turn your coins into money, and there will be more information available as time passes.