Is Sweatcoin a Scam? Can You Walk Your Way To Wealth?
Is Sweatcoin a scam? There has been lots of talk about this app that pays you cryptocurrencies just to get fit, but is this for real or not? It’s certainly something different, and I plan to dig right into it in this review to see what it’s all about.
But before we get fully into that, I just wanted to offer my congratulations for being here and reading this review. You’ve proven to me that you’re a smart person who does your research first before jumping on board with something, and that’s always a wise move.
The chances of you ever getting scammed or wasting your time are really low.
Now read on to discover the truth about the Sweatcoin app…
Company Name: Sweatcoin
Owners: Anton Derlyatka, Egor Khmelev and Oleg Fomenko
Price To Join: Free To Start
My Rating: 6.5/10
~ Sweatcoin App Reviews ~
A Quick Intro…
I always wanted a certain kind of freedom lifestyle when it came to how I make money, and these days I live that exact type of lifestyle; and it’s all thanks to the internet.
In the modern age it’s possible for everyone to make money online, part-time, fulltime and beyond. And because it’s a global market out there these days, it’s entirely possible to be making money at any time of the day or night.
There are just so many options that everyone seems to be searching online. It’s because of this statistic that so many of the world’s con artists are online as well, trying to make a quick buck out of people seeking new opportunities. We all have to be careful of what we get involved in because of that sad fact.
The act of reading product reviews just like this one is the best way to recognise and avoid the scams, as well as discover what is worthwhile and worth your time. I built this site to help people, so that’s precisely why you’ll find so many reviews of make money schemes and training programs on here.
When this new app called Sweatcoin came onto my radar recently, it really sparked my interest. I hadn’t come across anything like this before, so I decided to do some research and write a review on it.
So let’s now see if Sweatcoin is really worth your time or not.
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What Is Sweatcoin About?
I’m not a part of Sweatcoin in any way, so this is a totally independent review of the app and how you can potentially make money with it.
This app has been around since January 2015 and was devised and launched in the UK by 3 entrepreneurs named Anton Derlyatka, Egor Khmelev and Oleg Fomenko.
The app itself is a fitness app, but at the same time, it’s possible for users of the app to actually make some money while getting fit in the process. That’s the concept, anyway. Basically all you have to do is walk around and you can get fit and generate revenue.
Sweatcoin is actually also the name of a cryptocurrency, which really caught the attention of the media. So far reviews and responses to the app and the digital currency seem to be mostly positive, and Sweatcoin has even been featured on sites like The New York Times, Reuters, Forbes and The Daily Mail.
The difference between a cryptocurrency like Sweatcoin as compared to something like Bitcoin, is the way you build the currency. With Bitcoin it’s done through mining, whereas with Sweatcoin you effectively “mine” the coin through sweating.
The makers of the app believe that adding a monetary incentive for getting fit will help people be motivated to get outside and exercise more. It’s an interesting idea for sure.
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How Does Sweatcoin Really Work?
Sweatcoin is free. All you have to do is download the app for your smartphone, input a few details about yourself for your Sweatcoin account and away you go.
One very important thing to note is that you actually have to be moving around outdoors with the app or you don’t make any money. Sweatcoin will tap into your exact location at all times via GPS and can determine if you’re indoors or outdoors at any given time.
Simply pacing back and forth in your living room is not going to make you any currency at all. Everything must happen outdoors.
I don’t know why it has to be that way, it just is.
How the app works is that it tracks your steps just like any other modern day app that tracks how many steps you’ve taken during the day and how many mile you’ve effectively covered in doing so. It’ll only track your outdoor movements though.
You can check your fitness progress as well as how much Sweatcoin you’ve earned at any given time on the app, in real time.
For every 1000 steps you take outdoors, your account will be credited with 0.95 SWC (Sweatcoins). Not only that, every time you log into the app and watch an ad, you’ll earn additional coins.
Another way this differs from something like Bitcoin, is that you can redeem your Sweatcoins for rewards, including cash payouts.
It’s really as simple as a 3 step process to both get fit and earn with Sweatcoin:
- Download the app and create a Sweatcoin account
- Get outside and start walking
- Build up digital coin and redeem for cash or other rewards
Like I’ve mentioned a few times now, the incentive here is to get people outdoors and exercising, so you can’t jump on the treadmill at your local gym and rack up some Sweatcoins. It just won’t work that way.
How Much Money/Sweatcoin Can You Make?
You won’t be getting rich from this app, that’s for sure. Having said that though, you’re really being paid to do some exercise which you would likely do anyway for free, so it’s all a bonus.
I said earlier that you earn 0.95 Sweatcoins for every 1000 steps you take.
Now, this has to be noted that there are daily limits on how much you can earn, depending on your Sweatcoin account level, which I’ll get into in the next section.
With the free account you can only earn 5 Sweatcoins per day, which is a little over 5000 steps a day. If you were active every day, you could make yourself about 150 Sweatcoins a month.
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The Sweatcoin Account Plans
There are actually 4 different account options with Sweatcoin. It’s advertised as a free app and program, and it is, but there are other options that cost you, but allow you to earn more coin per month.
Let’s look at them briefly:
- Mover – This is the account that everyone is assigned when they first join, and we’ve already covered what you get with this one.
- Shaker – This will cost you 4.75 Sweatcoins a month, but that effectively doubles how many Sweatcoins you can earn per day compared to the free account.
- Quaker – With a cost of 20 Sweatcoins a month, with Quaker you can earn 15 Sweatcoins per day, which is triple the amount with Mover.
- Breaker – A cost of 30 monthly Sweatcoins enables you to make 20 Sweatcoins a day, but that’ll actually take a lot of walking to reach that many coins.
What Rewards Can You Redeem Sweatcoin For?
There are a number of options for redemption of your Sweatcoins, and probably the most popular one is cash paid to your PayPal account.
The minimum redemption amount is $50 cash, and you need 3650 Sweatcoins to swap for fifty bucks. If you want to make $1000, you’ll need to have amassed 20,000 digital coins.
Along with cash you can choose to use your Sweatcoins for purchasing products as well, like some rewards sites offer. Each day you’ll see new deals on the app, plus how much Sweatcoin it’ll cost you to buy the product. The offers change all the time, so what you can actually get when you do have enough coins will vary regularly.
Some of the offers actually require you to contribute some of your own money as well as Sweatcoins.
You Will Be Tracked Everywhere You Go
Whenever you have the Sweatcoin App running in the background, it’ll be tracking your every move and location.
Now this is great when it comes to earning coins, but not so good if you don’t want some app constantly gathering data on you and following you around like a CIA satellite.
This app could really suit just about anybody. If you want an extra incentive to get fit and don’t mind having your location constantly tracked, then this app might be a great fit for you.
It’s not something you’re going to make much money with, and it’ll likely take a lot of walking before you have amassed enough coin to redeem for some products, but it’s basically free money for doing something that you already do, or should be doing more of.
What I Do Like
- The app is available for IOS and Android
- It’s a very easy app to use
- Sweatcoin is free, even if you upgrade to a “paid” account, because you are paying for the upgrade with Sweatcoin you earn
- It can be a good exercise incentive to earn while getting fitter
- It’s something different to anything I’ve seen so far
What I Don’t Like and Red Flags
- It’ll take about 2 years of walking 5km per day to earn enough Sweatcoin to cash out for $50 through PayPal on the free account.
- While it’s a good idea in theory, the length of time it takes to make enough to redeem for rewards is kind of demotivating
- The potential to make any sort of real income in a reasonable timespan is extremely limited
- People have complained that the Sweatcoin App severely depletes your phone’s battery and increases your mobile data usage by quite a bit
- The app only counts the steps you take outdoors, so you can’t use it in the gym or for any indoor walking, such as strolling around a shopping mall
- Some of the offers you can redeem Sweatcoin for require you to contribute some of your own cash as well
How Much Does Sweatcoin Cost To Join?
Technically this app is free all the way through, no matter what account you opt for, because you’re paying for the upgrades with Sweatcoin you’ve earned. You’re never directly out of pocket.
Is Sweatcoin a Scam or Legit?
Sweatcoin is definitely not a scam in any way. In fact, it’s a pretty cool app and equally as cool an idea.
We should all strive to exercise regularly and keep ourselves fit and healthy, and this app adds more incentive to do just that.
Look, you’re not going to make much with it, and it’s going to take a long time and a lot of walking to get something worthwhile out of it (other than your health and fitness), but it’s probably worth using the app if you don’t mind being location tracked.
Overall a pretty decent app and good idea, but not really a viable way to make a regular income at all, if that’s the main goal.
How To Make Awesome Money Online!
While Sweatcoin and the app are an interesting concept, if you want to make some more solid and consistent money, doing it online like I do is the way to go.
I’ve been making more than a fulltime living from affiliate marketing for some time now, and I don’t even have to work fulltime hours to achieve that level of monthly income.
There’s no direct selling involved, no tech skills, and you don’t even need any money to get started. If you have a computer and the internet, you’re good to go. And to fast-track your success, some quality training is the way to do it.
Let’s check out a couple of key benefits of doing affiliate marketing online:
- It hardly costs anything to do it
- It’s as simple and recommending or promoting a product and earning commissions when someone buys
- It’s the perfect side hustle or even fulltime income earner
- You get to work for yourself from home and choose your own hours
- There’s no limit on what you might be able to earn
That’s just a very small snap shot of the benefits.
It’s possible to even get rich from affiliate marketing, if all goes well. I’m not on that level as yet, but I do make a nice, consistent monthly income out of it. What I like the most though, is the kind of lifestyle it allows me to live.
Let’s illustrate that with another short list:
- Over time you’ll build multiple income sources
- Much of your income will be residual or passive
- Live the laptop lifestyle and work from anywhere
- You’ll have both money and time together for more freedom
- You can make money while travelling
- Move and take your online business with you
- You can spend more valuable time with your loved ones
- And more…
Everyone can live a lifestyle of more abundance and freedom online, so if this appeals to you, make the decision to do something about it today and make it happen.
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Not everybody reading this post will know the processes of affiliate marketing and how you make money, so I talk about that in my guide. I also expand on the 2 lists of benefits I mentioned above.
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