Sweatcoin Review: Scam Or Legit? Make Money Exercising!

Sweatcoin Review: Scam Or Legit? Make Money Exercising!

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Sweatcoin allows you to make money from walking or running. Get paid for your steps! #sweatcoin #sweatcoinreview #makemoney #savemoneySweatcoin is a pretty cool way of earning some extra money or prizes just for doing something you already do: walking, running, basically just getting your feet moving!

Sweatcoin is an awesome new app that pays you to walk, exercise and run. Basically, it pays you for taking steps!  If you’re into monetizing your steps, check them out to get paid for something you would’ve done anyway.

Make Money Walking With Sweatcoin!

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What Is Sweatcoin?

Sweatcoin was founded in 2105 by Anton Derlyatka, Egor Khmelev, and Oleg Fomenko. The company has received $6.3 Million in funding from venture capitalists like GoodWater Capital, which has invested in companies such as Facebook, Spotify, and Twitter.

Sweatcoin is an app that pays its users in a digital currency called Sweatcoins for rewards such as cash, gift cards, and product offers.

Is Sweatcoin A Scam Or Legit?

Sweatcoin is free to sign up for and use. It doesn’t require a credit card or any bank information at all. It’s legit and you make money for what you’re already doing — walking and getting your steps in! You can then cash out for Paypal, gift cards, or product offers.

You won’t be able to make hundreds of dollars a day here, but in my mind, monetizing things you’re already doing for free is one of my favorite things to find out about. Sweatcoin happens to be one of those things.

Here’s some press from well-known publications:

Sweatcoin has been reviewed in the press, it's legit.
Sweatcoin has been reviewed in the press, it’s legit.

Never pay for an app or website that requires you to pay money to them to start making money. The non-scammy ones are ones that will pay you.

Related: How To Monetize Your Weight Loss and Exercise Routine; Make Money Losing Weight!

What Are Sweatcoins – How Do You Earn Them?

Sweatcoins are cryptocurrency that you earn mostly from walking. Similar to how Bitcoin (BTC) is mined through guessing complex hashcodes, Sweatcoins are mined through your steps. Usually, cryptocurrency trades on exchanges, but Sweatcoin has yet to do that. The company has said they are working on a blockchain implementation so people can trade them with each other easily. For now, you can redeem your Sweatcoins for dollars through the app instead.

You can earn .95 Sweatcoins for every 1,000 steps you walk.

Indoor Sweatcoin Usage

Some online reviews say that you can only earn Sweatcoins when you’re outside, but I think the algorithm does something else. I’ve tested Sweatcoins twice when I was at home for the entire day and once when I sat in a park for the entire day. I don’t earn Sweatcoins from walking around work either. I suspect the algorithm doesn’t count steps when you’re moving back and forth in a very small range. This might be because someone could strap a smartphone to a dog and get steps that way.

Generally, your steps to Sweatcoins conversion ratio should be around 65 percent if your app is tracking correctly. This is because people walk inside 35 percent on average. Obviously, if you walk outside more, take this into account!

I definitely earn Sweatcoins when I’m out walking though!

Sweatcoin When Exercising

You can’t earn Sweatcoins when you’re running on a treadmill because the app is unable to tell you’re taking steps that way. Then again, a Fitbit doesn’t track steps on the treadmill either so I suppose it’s a software problem that hasn’t been solved with any app?

Sweatcoin Daily Bonus

Sweatcoin launched a daily bonus at the end of 2018. On the first day you get 1 SWC, then 2 SWC the second day, then 4 SWC the third day. Now you can collect 850 Sweatcoins per day just by clicking a button or watching a video.

Related: 20 Free Money Tools And Resources To Fix Your Finances

How Many Sweatcoins Will I Earn?

You can see your Sweatcoin details on the homepage.
You can see your Sweatcoin details on the homepage.

It depends on how many steps you take each day. It’s recommended you walk 10,000 steps a year to be healthy, but if you’re a long distance marathon runner, you’re going to be outearning me by miles.

Related: How To Monetize Your Life By Doing Things You Already Do

What Sweatcoin Levels Are There?

There are 5 levels of earning in Sweatcoin, depending on how many steps you take per day. Each level allows you to earn a maximum number of Sweatcoins per day. You can always try out a level for 30 days for free if you’re not sure of how much walking you do on a day to day basis, which is quite nice.

You can find the Sweatcoin settings in your profile section. Hit “change” to choose another level.

The first level is free, and the others cost a few Sweatcoins.

Level:                     Cost/Month:                   Earn Rate Per Day

Mover                     FREE                                 5 Sweatcoins

Shaker                    4.75 Sweatcoins          10 Sweatcoins

Quaker                   20 Sweatcoins             15 Sweatcoins

Breaker                  30 Sweatcoins              20 Sweatcoins

Trouble Maker    Coming Soon               Coming soon

If you’re a heavy walker or runner, you should consider upgrading levels. They are priced in Sweatcoins. Remember, the American Heart Association recommends 10,000 steps a day, which converts to approximately 10 Sweatcoins.

Related: How To Triple Dip On Cash Back Rewards

How Does Sweatcoin Pay You?

Cash Rewards

Sweatcoin offers redemptions for Paypal gift cards, which is basically cash.

They currently have 2 redemptions available. For 3,650 Sweatcoins you can redeem the $50 Paypal gift card.

Sweatcoin 20,000 reward for $1,000 in Paypal cash.
Sweatcoin 20,000 reward for $1,000 in Paypal cash.

For 20,000 Sweatcoins, you can redeem the $1,000 gift card.

Doing the math, you earn 365 percent more if you wait for the $1,000 gift card.

There are also redemptions for gift cards, but I don’t really see the point when you can just redeem for Paypal! More options to spend on!

We’re always skeptical of new apps until we actually get paid, but we did cash out via Sweatcoin and get paid!

Get Sweatcoin Here - Make $ Exercising!

Product Rewards

Every day there are new product offers on the Sweatcoin app.

Example of the Sweatcoin daily rewards. Here you have BeanBox and RocksBox.
Example of Sweatcoin daily rewards. Here you have BeanBox and RocksBox.

The 5 Sweatcoin offers are usually 1 month free of some kind of subscription box or small product rewards (worth $10-$20 retail).

Occasionally, there are Fitbit rewards, which are very fitting given the fact that Sweatcoins is a fitness app. The Fitbit Flex is 550 Sweatcoins, which is pretty awesome and definitely aligns their product with exercise and healthiness.

The high-cost redemptions are usually high-tech electronics such as an Apple watch, iPhone, GoPro cameras, etc. After comparing the retail cost of the electronics to the redemption rate for the $1,000 Paypal gift certificate, I’d recommend the Paypal gift certificate.

Sweatcoin Gamifys Walking

One of Sweatcoin’s main motives is to get people to walk more, so they sought to gamify walking. Having the thought that the more you walk, the more you’d get more Sweatcoins to trade in for rewards probably makes people subconsciously walk a little more.

This is a great thing though — it creates a better world if people are walking more because they’ll be healthier and more productive.

Sweatcoin’s Hidden Health Benefits

We’re a weird society that would rather play games on our cell phones that let us level up or collect fake currency that doesn’t translate to cash, than try to make money on the side. Sweatcoin lets you gamify your health. Now anytime I go anywhere, if it takes almost the same time to walk, bike, take the subway, or take some other kind of transportation, I try to walk.

I don’t consider Sweatcoin something that’s going to make me rich one day, but if you find a bunch of apps like this, they do add up every year! Plus, it’s great if it makes you exercise more.

Related: How to Make a 20+ Percent Return When Losing Weight: HealthyWage

Sweatcoins Steps Troubleshooting

Sweatcoin relies on the phones GPS and its algorithm to track steps. If you think your steps aren’t tracking correctly, try some of the below fixes:

  • In rare cases, certain phone cases might not track GPS as well. Try taking your phone out of the case and see if it works better.
  • Without a signal or in between extremely tall buildings all concentrated in one area, Sweatcoin might be not able to get GPS access to your location, and therefore might not be able to track your steps.
  • If you’ve turned on battery saver, Sweatcoin might be calculating locations at longer intervals. If you walk back and both to the same areas, it might only count the distance between two points. Consider turning off battery saver.

You can put the Sweatcoin app on battery saver mode.

Lastly, make sure the app is running in the background, or else it won’t be able to give you Sweatcoins because it won’t be able to track your steps.

Does Sweatcoin Have A Referral Program?

Sweatcoin doesn’t currently have a promo code or sign up bonus, but it does have a referral program.

Each referral earns you 5 Sweatcoins, which means you can get to earning rewards sooner.

Sweatcoin Influencer Program

Sweatcoin has a separate program for influencers. You join this program automatically when you have referred 30 people. There are multiple tiers of payouts, but at the lowest level, you’ll be paid $1 per referral. The lowest tiers have limits on how many times you can redeem them, with the $100 tier only being redeemable 10 times, but the $450 payout tier you can redeem an unlimited amount of times.

Sell Your Sweatcoins For Cash

If you don’t want to wait for one of the big prizes Sweatcoin offers, you can sell them for cash. Check out r/Sweatcoins for a thread detailing how to buy and sell Sweatcoins.

Does Sweatcoin Sell Your Data? Is Your Privacy Protected?

Sweatcoin has stated they do not sell location data — they only use it to track how many steps you’ve taken and pay you in Sweatcoin. If you’re interested, you can see this in their terms & conditions document.

Can I Send Sweatcoins To Friends Or Family?

You can send Sweatcoins to friends or family if you want. Most prizes allow for redemption if you’re sent the Sweatcoins, but a few marathon offers say that you must earn all Sweatcoins yourself.

The Future Of Sweatcoin

With some heavy hitting venture capitalists investing in Sweatcoin, they’ve got a lot of experience and money backing them. It could be possible they work with insurance companies to motivate people to get their steps in and get rewarded in dollars or other kinds of rewards.

Sweatcoin also has a growing marketplace of product offers. Companies pay Sweatcoin for their product offer to be featured, which means advertising. It’s a win-win-win for Sweatcoin, app users, and the company offering the product because users get a discount or bonus, Sweatcoin gets paid by advertisers, and the advertiser gets a ton of eyeballs to their product.

Sweatcoins Pros And Cons

Sweatcoins Pros

Sweatcoin is completely free and pays you for something you’re going to do anyway.

You can be paid in PayPal, gift cards, or product offers.

Lastly, the app is free and easy to use.

Sweatcoins Cons

One of the cons is that the app needs to run in the background in order for it to capture the number of steps you take. This means if you swipe up, you’ll exit the app and your steps won’t be counted.

Sweatcoin won’t make you rich, but every little bit adds up right?

It’s a slight drain on the battery, but I can get through the entire day without recharging. If you can’t, you can always put it on battery saver mode, but it doesn’t count as many steps sometimes. You can always take a phone charger to work and leave it on the charger during the day. Work electricity is free! I’m guessing that battery saver might track GPS vs the non-battery saver might track actual steps.

Make Money Walking With Sweatcoin!

Author: Olivia

Olivia worked in finance and wants you to learn the secrets of financial independence. She believes there are so many ways to monetize your life and make money doing the things you're already doing because so many companies offer free money.

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2 thoughts on “Sweatcoin Review: Scam Or Legit? Make Money Exercising!

  1. Your fitbit won’t count steps on a treadmill? That’s odd… Is it because you are holding onto the treadmill? Because mine counts.

    I have Sweatcoin installed, and I check the balance once in a while. But I don’t think it really counts it indoors. Might be Android vs Apple or something else like that.

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