There is a growing interest in how to use Sweatcoin to earn cryptocurrencies and make a profit from our daily physical activity.
Using apps to get fit is an increasingly widespread phenomenon in our society, but some even offer benefits, causing many users to wonder how to use Sweatcoin to earn cryptocurrencies. The fact that this application transforms our steps during the day into a cryptocurrency, sweatcoins, which we can then exchange for items, has made it a very attractive alternative for those who need one more incentive to put on their sneakers and go for a walk or run.
The operation of Sweatcoin is quite simple, since when we install the application and create our user account, it will start to count our physical activity. We will even be able to convert steps indoors, something that not all pedometer apps take into account. The current step conversion rate on the platform is one sweatcoin per 1,000 steps, to which a 5% commission for processing the transfer must be subtracted.
Once sweated and obtained our sweatcoins, we can exchange them for items that are available by clicking on the icon with the shopping bags that we find in the bottom menu bar (see image). In that section, we can find not only the usual store, but also other tabs to donate (‘Donate’) or bid in the auctions that are open at that moment (‘Bid’).
How To Transform Sweatcoin Steps Into Crypto
The boom that cryptocurrencies are experiencing, however, makes many wonder if this application will answer the doubts about how to transform Sweatcoin steps into crypto. For them there is good news, as it is in the plans of the platform to have its own cryptocurrency starting this summer, sweat.
As announced in the app itself, sweat is a new cryptocurrency that can be exchanged for other currencies such as bitcoin, ethereum, etc. It can also be used outside the app, unlike sweatcoins, which are only useful in the app store. The company that developed Sweatcoin has set the exchange value to be one sweat for each sweatcoin (with the 5% commission already mentioned above).
To get ahead of Sweat’s upcoming launch, Sweatcoin is already allowing its users the ability to create their wallet in the app so that when they launch they are already at their disposal. To create the wallet, in the shopping section you have to go to the ‘Crypto’ subsection and click on ‘Sign up to claim’. There several informative texts will appear and we move the bar to the right until a screen appears where the button ‘Get your wallet’ appears. In this way we will be able to create the digital wallet for this cryptocurrency.
As announced in the application, the first 5,000 steps of the day will be used to mint (mint) your sweats. It also warns that, as time goes by -and as more users start to produce their own sweats in theory-, it will become more complicated to mine them, in the same way as it already happens with bitcoins.
For this to work, Sweatcoin will have to improve its user experience quite a bit so as not to frustrate users, as it crashes quite often. Another aspect that could be improved is the 10% of lost steps that they estimate with their algorithm, which may lead many people to consider that the reward system is not fair as the step count is not 100% faithful to their effort.