Sweatcoin is a digital fitness app like no other. By rewarding their users with Sweatcoins for every 1000 steps they walk, it incentivizes them to stay active. Founded in 2014 by Oleg Fomenko and Anton Derylatka, Sweatcoin has tracked 19.1 trillion steps. With over 300 partners worldwide, Sweatcoin has both physical and digital offerings for its users regardless of the country they are currently living in. If, however, you are unhappy with the offerings currently listed in the app, come back in a couple of days to see if their offerings have changed. In a study published in the British Journal of Sports Medicine, Sweatcoin resulted in a 20% increase in the activity level of its users.
Sweatcoin Company Information:
| Official Website: | Sweatcoin |
| Headquarters Location: | London, United Kingdom |
| Founded: | 2014 |
| Industry: | Digital Fitness |
| Ownership: | Oleg Fomenko and Anton Derlyatka |
| Contact: | support@sweatco.in |
| Trust Score: | Good |
| Social Media: | Facebook Twitter Instagram LinkedIn |
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What is Sweatcoin?
Sweatcoin is a digital fitness application created in 2014 by Oleg Fomenk and Anton Derylatka. It converts the steps of its users into a digital currency they have created called “Sweatcoins”. Getting started on the app is easy. Once you have an account created and have given the application the proper permissions, it will begin counting your steps right away. You will earn 1 Sweatcoin for every 1000 steps you take. After you have saved up some Sweatcoins, you will then be able to exchange these immediately for both physical and digital products. In addition to products you can buy, you can also choose to donate your Sweatcoins to various organizations.
If you are unhappy with the products currently listed on the app, you can check back in a couple more days to see what they have added or removed as products are regularly updated. Earbuds, shoes, fitness classes, and charities are all available options for spending your hard-earned Sweatcoins.
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Is Sweatcoin legal and safe or is it a scam?
Yes, Sweatcoin is entirely legal and safe to use. The only thing it asks for from its users is enough personal information to establish an account. Once this process is done, the app is perfectly safe to use. Operating in the background, Sweatcoin will continue to count your steps as you walk around. Except for Shipping information, products you purchase and donations you make through the app will be entirely anonymous.
Looking at the ratings online further reinforces our belief that this application is safe to use. Currently holding a 4.2/5 start review online, most of the complaints are related to the app’s performance rather than any significant privacy or reward concerns. Many users have reported that the app uses a lot of battery, which is typical for apps that rely on a GPS signal to operate correctly. The performance of your specific device will depend entirely on what you are using and whether or not you have a strong connection.
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Is Sweatcoin Reliable & Trustworthy?
Yes, Sweatcoin is entirely reliable and trustworthy to use. Having operated since 2014, Sweatcoin has counted over 19.1 trillion steps rewarding 18.2 billion Sweatcoins to their users. During this time, the application has maintained a 4.2 / 5 rating on the Google Play Store, which is pretty good for apps of this type.
Most of the issues that users of the app report are related to the app’s performance on their mobile device, including shortened battery life and inaccurate tracking of steps. While there is not a lot that you can do to reduce the battery consumption of the app without breaking functionality, you can improve the accuracy of recorded steps by ensuring that the app has all of the permissions it needs.
Reading their privacy policy, Sweatcoin does mention that your data is used to “perform market and consumer research”. Additionally, your information will be used by third-party advertisers to deliver what they consider to be relevant ads.
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The Pros & Cons of Sweatcoin
Pros:
- One of the few fitness apps that reward their users for exercising
- The app has a slick and clean design
- The app is easy to use
Cons:
- The rewards section is sometimes somewhat limiting depending on the country you live in
- It can take a lot of steps to exchange the Sweatcoins for a product you would be interested in
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How does Sweatcoin Make Money?
Sweatcoin makes its money primarily through advertisements. When users navigate through their app, there will be a few times when will be required to watch an ad. The first scenario where an ad will pop up is when a user elects to receive their daily reward, which gives them a Sweatcoin in exchange for watching an ad.
Additionally, when users decide to activate the doubled step counter, they will be required to watch an ad for this process.
Additionally, Sweatcoin may also make some of its money through product sponsorships.
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Best Sweatcoin Alternatives
While Sweatcoin is an excellent application with a modern design and pretty decent rewards, it may not always be what you are looking for. In this circumstance, these are some of the additional fitness apps you can check out. Each of these fitness apps also rewards its users for their activity.
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FAQ
How do I cash out my Sweatcoins?
You can exchange Sweatcoins that you earn for in-app rewards. These in-app rewards are widely varying, and change frequently. While these can not be withdrawn directly to a platform like PayPal, they do occasionally update their offerings to include PayPal withdrawals, as well as gift cards to various businesses.
Can I transfer my Sweatcoins to PayPal?
While Sweatcoin does not offer any direct withdrawal option for PayPal, they do occasionally have limited-time offers to exchange your Sweatcoins for a PayPal deposit. Offerings are updated every few days, so make sure to check back from time to time if you have your Sweatcoins saved up.
Can I trade Sweatcoin?
Sweatcoin is not currently a cryptocurrency, so there is no way to trade it for other “coins”.
Where is Sweatcoin available?
Sweatcoin is available in 100+ countries worldwide. For a complete list of available countries, please see this page: https://sweatco.in/select-your-country
Is Sweatcoin a Pyramid Scheme?
No, Sweatcoin is not a pyramid scheme. The only investment that users put forward when using the app is their time and sweat. Additionally, the rewards that are listed are all available for redemption, providing you have the prerequisite number of points.
Will Sweatcoin Become a Cryptocurrency?
Sweatcoin is not currently a publicly-traded cryptocurrency. As they state on their website, however, their long-term plan is to eventually make it a fully-fledged cryptocurrency, allowing people to trade their “sweat” on the open market.
Are Sweatcoin Offers Real?
Yes, all of the offers listed on the Sweatcoin app are real. While they may not always have offers that you will be interested in, they are routinely switched around and are redeemable by all users with enough Sweatcoins.