There I was, standing in my bathroom getting ready to go to sleep, when all of a sudden, my brother yells to me, "I just downloaded this new app called Sweatcoin that gives you money just for walking!"
Just like any other person would think at first, the first thing I thought to myself was, "There is absolutely no way this can be real. It's probably a scam or something." Well, of course, with my lingering curiosity, I had to try it, and now I've never been more motivated to exercise in my life.
In only one week, I was able to accumulate over thirty-five dollars. Yes, I got money for just staying active. Being rewarded for every step you take has made losing weight and getting fit seem more like a fun activity than a chore or necessity, and that's the thinking behind the new Sweatcoin app.
What is Sweatcoin?
Here's how it works: the free app tracks the number of steps you make each day using the iPhone's built-in sensors and GPS location. For now, the app can only convert outdoor steps. Unfortantely, that means you cannot get coins from walking from your couch to the refridgerator.
Those steps get converted into Sweatcoins, the app's currency. Once you build up enough coins, you can actually buy tangible products. You can buy anything from goods, services, and experiences from anti-gravity yoga classes to high-tech shoes, to iPhones and Apple Watches.
You can also donate your Sweatcoins to some of their amazing partnering charities, making for an easy way to help others around the world.
Sweatcoin's popularity began to spike this past summer, and by early September, it had become the most downloaded health and fitness application in the United States on the iOS and Google Play stores combined, according to data from App Annie. It has retained that top ranking nearly every week since.
The app, developed by a startup in London called Sweatco, has raised about $1.6 million in financing. For one thing, Sweatcoin immediately shaves your earnings by five percent commission to keep themselves going. For every one thousand steps, the app rewards you one Sweatcoin. Just to put this into perspective, official guidelines encourage people to walk between 5,000 and 10,000 steps a day.
Though it may take a while to acquire enough Sweatcoins to obtain that Fitbit or iPhoneX you've always wanted, the app does offer an alternative quick and easy way to meet your goals: referrals. Each time friends sign for the app using the link you provided them with, you are rewarded with five Sweatcoins. So just think, if you refer one-hundred twelve people, you can get that Fitbit in no time!
Another perk: Sweatcoin offers its users is the chance to customize their rewards bazaar. When registering for the app, you will automatically be subscribed to notifications from the company via email, where they allow for you to select which lifestyle aspects interest you most. These can range from travel, pets, fitness, and even food.
But most importantly, Sweatcoin's "first premise is that physical movement has economic value," Anton Derlyatka, a Sweatcoin co-founder, told the New York Times.
Derlyatka said the app aims to overcome the human tendency to choose immediate gratification — like doughnuts or binge-watching Netflix — over activities like daily exercise that offer long-term benefits. By giving users points that can buy rewards, Sweatcoin hopes to provide couch potatoes with the incentive to become more active.
Competition is on the rise, as another British start-up, Bitwalking, is also seeking to launch its own digital currency. However, Sweatcoin is more than confident in its software, which is carefully calibrated to prevent slouchers from faking activity by strapping their phones to the back of their dogs or just running around in circles in the middle of their kitchens. Most rival apps rely simply on user-reported information.
If you are looking for a reliable, gratifying app, I highly suggest you take a step in the right direction by downloading Sweatcoin, Not only are you rewarded in the form of prizes, but you are also rewarded with the satisfaction of doing your body some good.