WHAT IS SWEATCOIN (SWC) ALL ABOUT?
Walking or running allows you to earn Sweatcoin, a type of virtual cash. Simply put, digital money supported by movement.
Through a smartphone app, which records your daily outdoor activity and awards you with around 1 SWC (1 Sweatcoin) for every 1,000 steps, you may earn SWCs. Spend these coins on presents like music downloads, digital watches, jogging shoes, and more. You can also use them to buy gifts like magazines and healthy energy drinks.
The idea is to provide you with incentives so that you will get up from the sofa, leave your work station, and begin to move around. Sweatcoin, in short, aims to put a little extra dollars in your pocket in addition to making you feel better, look better, and just be healthier.
In order to combat the obesity epidemic, which causes direct costs to the global economy of billions of dollars each year, Sweatcoin was developed with the goal of encouraging individuals to engage in greater physical activity.
Sweatcoin recognized the need to overcome “present bias,” a phrase used in behavioural economics to describe people’s propensity to dismiss things that don’t immediately affect us, in order to encourage people to exercise more. The answer, therefore, is a fitness application that turns outside steps into a digital money that can be used in the application’s market to purchase actual products and services (providing immediate gratification).
HOW DOES SWEATCOIN APP WORK?
Using the software, users may turn their physical activity into “Sweatcoin,” a type of virtual cash. On your Android or iPhone, it operates in the background.
It monitors your steps every time you run or stroll outside and rewards you with sweatcoins (SWC). You receive a little less than 1 SWC for every 1,000 steps you take.
Once you have a sufficient amount of SWC, you may exchange them for things like sports watches, Amazon credits, music downloads, e-Books, airline miles, or gift cards to other stores. Offers are continuously changing and mostly dependent on the agreements Sweatcoin has established with various businesses. The Sweatcoin app, which is accessible for free on both iOS and Android, allows you to observe all of these transactions, however you may subscribe to various membership tiers using your sweatcoins.
