SweatCoin, the crypto that Pays Users for their Sweat

A Sweat can fetch you Money after all...


Since the advent of crypto currency, a lot of them have popped up with usually funny ways of mining them, while some would request users to share them, SweatCoin requires its users to sweat it.

The company founded by Oleg Fomenko and Aston Derlyatka in 2016 had the idea of promoting health and fitness, and how better to do it than by getting to pay people to live healthy lives?

The Sweatcoin made its mark when it announced it was raising $13 million in a move backed by blockchain investors such as Electric Capital, Spartan Capital, GSR and the NEAR Foundation.

SweatCoin, the crypto that Pays Users for their Sweat

SweatCoin, the crypto that Pays Users for their Sweat

Recently, the platform’s token $SWT got listed as a major crypto exchange.

Its basic thrust is backed by the Move-to-earn concept which is an innovation that gets people to make passive income all by performing physical activities that encourage fitness.

For Sweatcoin, it designed an app that allows this concept to flow naturally, whereby it acts like a crypto currency or in other words lets users to convert its income streams into crypto currency all for the number of steps they take during exercise.

As users walk or run, they mint their sweat tokens and can swap the token on crypto exchanges.

So far, Sweatcoin reportedly has 110 million users in about 60 countries with over 25 billion sweatcoins been created as of this moment.

The App is available on App Store or the Google Play Store which can be installed on a smartphone or Apple Watch. Upon installation, the user is requested to enter their name, phone number and email before they are requested to let the app access the phone’s GPS location to enable tracking.

SweatCoin, the crypto that Pays Users for their Sweat

The application then gets to track the number of steps in a day the user takes and rewards them with sweat tokens according to their movements. Like all other crypto apps, it functions while the app is running on the phone.

Now, for users thinking they can cheat their way through it, the app has anti-cheat measures that notifies it when foul play is being played, like say the user decides to swing the phone up and about without engaging in the actual fitness routine.

Sweat tokens can be traded in-app for fitness gear, workout classes, gift cards and a number of other offerings, with the token now tradable on top crypto exchanges like BitFinex, FTX, Kucoin, Okx.

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