Passive income is now a massive focus for most people. Imagine being able to do relatively nothing and gain monetary value with ease, it sounds like the dream, right? Most people can gain a passive income through an initial large investment or a risky one, SweatCoin allows its users to earn from walking alone. Whilst this seems like a win-win situation, we are looking into the true worth of a SweatCoin and how you can earn them relatively hassle free. Below we will investigate exactly what SweatCoin is, how it works and how much is a sweatcoin worth.
What is SweatCoin?
SweatCoin is an application for both iOS and android that allows its users to earn an in-app currency based on the number of steps they walk. The currency is called a Sweatcoin and can be used for a myriad of things on the app, the more coins you accumulate the more items you can purchase. Although you cannot actually cash out your coins to your bank or PayPal, there are still some great offers users can benefit from. Users can purchase items such as phones, TV’s, or health-based applications to name a few.
The app has been ridiculed for its drain on battery whilst in use, but the pros far out-weigh the cons. Whilst it does take a while to increase your accounts balance with SweatCoins, once you have a reasonable amount in there you can purchase many different items or subscriptions for free. The key to truly gaining from SweatCoin is having patience and being open to their subscription offerings as a potential growth option.
The app has now become the most well-known and used for letting you get paid to walk, over 10 million users utilise its offerings worldwide. The Sweatcoin’s only start accumulating once walking outside, this is to try to stop fraudsters using the app incorrectly. For this reason, you must allow the app to access your GPS system. For every 1000 steps you can earn 0.95 Sweatcoins, they take a 5% commission.
What is a SweatCoin worth?
SweatCoin’s are still in quite a volatile market, meaning their value is constantly fluctuating. They are considered as an emerging currency as they are yet to fulfil all of the determining currency factors, but they are on their way to becoming fully established.
At present the exchange rate to the pound is around 50 SweatCoins. Nevertheless, in previous times this figure has risen to 80 SweatCoins to the pound or dropped to 1 SweatCoin to the pound. As they grow, they expect to become more consistent. This will most certainly happen once the SweatCoins can be converted into real cash.
For users, Sweatcoin’s can be worth quite a lot, depending on their preferences. For some, they will be able to purchase new items they need or subscribe to various online subscriptions. This could be invaluable. It also allows users to focus on their health and really improve their daily steps through a cash motivator. This side of the app really excels its overall worth for the user.
What is in it for them?
Although they pride themselves on getting users up and about to increase their overall health one must ask, what is in it for them? They make most of their profits via partnership deals with may brands. They also usually supply them with the prizes that can be won too, making it an extremely lucrative deal for the site. They also can make a lot of money via adverts that run through the app too, like most other applications.
For some users they also have to pay for the service, this is heavily marketed via the app too. There are various different options that they can choose from –
Mover
The Mover membership is the free service that allows users to earn up to 5 sweatcoins a day. This equates to about 5,000 steps per day. This membership has a cap of 150 sweatcoins per month.
Shaker
The Mover membership is the free service that allows users to earn up to 5 sweatcoins a day. This equates to about 5,000 steps per day. This membership has a cap of 150 sweatcoins per month.
Quaker
The Quaker membership allows its users to earn 15 Sweatcoin’s a day, or 450 Sweatcoins per month. Once again, meaning that its adopters can gain certain prizes faster, but at the cost of 20 Sweatcoins per month.
Breaker
The breaker model is the one that allows users the opportunity to earn 20 sweatcoins per day, or 600 sweatcoins each month. Whilst this will increase your overall gain it costs 30 sweatcoins to redeem this membership.
Sweatcoin are also working to develop new memberships, next in the pipeline is the Trouble Maker model, however the pricing structure for this has yet to be revelled. It is expected to exceed that of the Breaker. Through having a membership, you can gain Sweatcoins on friend invites and various other bonuses too. This will come straight into your Sweatcoin wallet and can be used to redeem various prizes.
Conclusion
To conclude the overall Sweatcoin value is an abstract concept dependent on the user. For some it will be very useful and a really good concept to earn certain items for free. If you are already an active person, then you can pick up items and prizes for free. For others it can be a motivator to actually get up and out and improve your overall health. In monetary terms a Sweatcoins worth fluctuates, but stays around the £1 – 40/60 Sweatcoins as a standard. The true development of the coin will come when the Sweatcoins can be transferred into actual cash that can be deposited into your bank account.
