Sweatcoin, the fastest growing fitness app in the App Store, allows you to earn cryptocurrency as you walk.
Imagine a world that you get paid to exercise! Sweatcoin rewards you for being active by paying you in its own currency and lets you choose what to do with this digital money.
While you can spend this money to purchase sport-related products or services in the app, you can also transfer this money to other users or donate it to charity as well.
Oleg Fomenko, co-founder of Sweatcoin shared:
We are out to fundamentally change the value ascribed to health and fitness and provide the motivation for people to lead better lives.
The process is simple. You first need to sign up and connect your smartphone’s health & fitness data and your GPS location to Sweatcoin.
After you completed the sign up process, the app starts to track your steps you take in a day and rewards you with “sweatcoin”s. However, in order to gain these coins, you need to walk outside rather than being inside or doing some physical activities at the gym.
Here is the calculation: Every 1,000 steps you take is equal to 0.95 sweatcoins.
Anton Derlyatka, co-founder of Sweatcoin, said:
We have a very bold plan to take the concept of fitness into the future which even includes the ability to pay taxes with sweatcoin.
Sweatcoin is only available in the UK, Ireland and the US for now but it’s planned to be rolled out in Europe and Asia in the future.
Currently, there are more than 2 million weekly active users on the app. However, it seems that this number will increase since we are already surrounded by the different versions of cryptocurrency and get used the idea of earning and spending digital coins.