The Next Big App - Sweatcoin

in #cryptocurrency7 years ago (edited)

What is Sweatcoin?

Sweatcoin is a new type of currency that is rewarded by exercising. If you're familiar with other cryptocurrencies, such as BitCoin or Ethereum, you will know that in order to access that currency, you have two options:

  1. Exchange a currency, such as USD, to the currency you want using a currency exchange
  2. Mine the currency you desire using mining equipment (ASIC hardware, GPUs, etc.)

Instead of mining or purchasing Sweatcoin, you exercise. This replaces the need for expensive equipment and serious risk factors, such as killing your GPU while mining overtime. All you need to gain Sweatcoin is some walking or running during your day. Not to mention, you won't have a ridiculous electric bill.

After you've acquired enough sweatcoins, you can exchange them for real items in the shop. (more on this later)

 We track & verify your outdoor steps using your phone’s accelerometers and GPS location. Those steps get converted into our currency — Sweatcoins.

Why do you predict this?

Sweatcoin is becoming increasingly popular due to their marketing methods. Once you have downloaded the app, you have an option to share an affiliate link to immediately gain 5 sweatcoins. (around 5000 steps worth) The reason that this method of marketing is successful is because the users want to share the app with as many people as they can to gain more sweatcoins. The other reason that Sweatcoin is growing - Businesses can list their products on the Sweatcoin Store. Once users have saved enough sweatcoins, they can exchange them for items listed in the store. This is a win-win situation for both sides because the businesses get free marketing in the store and the users get to purchase the products with sweatcoins.

Can I download it?

Yes, if you live in one of the supported countries. If your country isn't supported yet, give it some time. Their company is already rapidly expanding and many more countries should be supported in the future. If you do live in one of the supported countries, you can download the app using:

Conclusion

Sweatcoin is the next big thing in terms of rapidly growing popularity. I would strongly suggest downloading the app if it is supported in your country.

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thanks!! this is very exciting!! do they work with fitbit??

At the moment, no. Sweatcoin claims that the Fitbit wearables are too easy to hack. They’re very careful about these things, as they could make the currency not valuable if someone were to generate it without exercising. (Kind of like printing a bunch of US dollar bills; the currency’s value would decline) @OriginalWorks

got it, thanks!

Just an update: FitBits are now supported on Sweatcoin!

I'll have to look into that because they actually sell them in their store!

great news!!!! thanks for the update!!!!

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