How Does Sweatcoin Make Money?
Even fitness experts look for motivation to get them off their feet and start walking. Now, it’s not just about health or getting fit, but a ransom for walking and running outdoors. The Sweatcoin app pays you for getting out and going about your regular daily chores. It operates on Sweatcoin blockchain technology and pays for every step made outside the house.
Isn’t this a prime motivation? Sweatcoin is giving life to ‘get paid to walk’ idea and provides you with a great incentive to keep you walking every other day. Other than living a healthy life, walking also enhances body fitness. But how do you get paid for walking? Let’s dive into it.
So how does Sweatcoin make money?
How does Sweatcoin blockchain make money provided that the app is free to download and use? Of course, they also need revenue to sustain themselves. Sweatcoin has raised about $5.7 million, courtesy of Goodwater Capital in conjunction with Rubylight, SmartHub, Seedcamp and Greylock Partners.
Furthermore, Sweatcoin is working on perfecting a regular revenue model, making the most of engagements, partnerships, and network effects.
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Sweatcoin Plans
The Sweatcoin blockchain regulates the amount you can earn per day and charges you to upgrade so you can make more coins. This is one of the best business strategies which limits the number of users who become eligible for the marathon offers.
The following are the different Sweatcoin plans:
Mover: 5 SWC per day [Free]
Shaker: 10 SWC per day [Costs 4.75 SWC per month]
Quaker: 15 SWC per day [Costs 20 SWC per month]
Breaker: 20 SWC per day [Costs 30 SWC per month]
Trouble Maker: Soon to be announced
What’s exciting about these membership plans is that you cannot upload your cash to buy them, you only need to walk more every day to be able to upgrade. The company makes money, depending on how this app is used. Which is one of the answers to our original question, “How does Sweatcoin Make Money”.
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Partnership Revenue
The offers on Sweatcoin comes in two different categories, which are Marathon and Daily (partner) offers. What this means, users with sufficient of about 10-50 SWC can use them to buy daily offers, while those with 20000 SWC can use them to purchase marathon offers or actual products such as TV or mobile phones.
Sweatcoin partners with other brands to provide its customers with offers and discounts. These brands pay in SWC to be featured on the Sweatcoin app. With the limitation of the Sweatcoin plans as well as the referral strategy, marathon offers are completed within 24 months. This strategy helps to keep the user hooked to the app for a longer time.
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Ads Revenue
Other than commissions and fees paid by the featured brands, Sweatcoin also makes money through advertisements in the app. Like many apps today, Sweatcoin has integrated Google Ads into its revenue model as another source of revenue. They tap this by offering a bonus to the app user for watching ads.
So, what exactly is Sweatcoin?
It is an app that keeps track of your movement and rewards you for it. By movement, I mean steps you make when walking or running and the app pays in Sweatcoins (SWC) according to how many steps one makes.
Sweatcoins is a digital currency in a mobile app like the cash stored in a digital wallet or e-payment apps. SWC can be used in several ways and transactions.
Is Sweatcoin legit?
Sweatcoin has over 5 million users and has raised over 5.7 million from Goodwater Capital. Further, Sweatcoin has been featured in various prominent publications like Forbes, TechCrunch, and the New York Times. With these, I believe Sweatcoin is legit.
The only thing I noted with the Sweatcoin app is that a few people complained that it wasn’t accurate in tracking. However, this app has improved a great deal since its launch, and you definitely won’t experience any problems when using it.
How much money can you make from Sweatcoin?
I know you are eager to know how much you can make with the app of Sweatcoin blockchain, especially now that it’s confirmed the app is legit. The app is not a get rich quick scheme, but provided you enjoy moving around, the app pays you for it.
The app will pay you about 1 SWC for making up to 1000 steps. However, you do not earn anything when you’re inside your house. With 20000 SWC you get $1000 which translates into 1 SWC for $0.05. Even though this is not much, you can’t resist using the app because it pays you to walk and you’ve got nothing to lose but everything to gain.
How long can it take you to make $1000 with Sweatcoin app?
This question cannot be answered directly, but there is something noteworthy about earning Sweatcoin (SWC). There is always a 5% Sweatcoin commission charge for every 1000 steps, so after every 1000 steps, you’ll receive 0.95 SWC.
Earning with Sweatcoin app is regulated, and there are different levels of earning. With the basic plan, you can make a maximum of 5 SWC/day or 150SWC/month. The Breaker membership is the highest plan; it will earn you a maximum of 20 SWC/day or 600 SWC/month at a fee of 30 SWC monthly.
If you refer a friend to Sweatcoin, you earn yourself 5 SWC and 1 SWC extra per day for watching the ad.
Well, about earning $1000 from the Sweatcoin app, let take it that you are on the highest membership tier. In a year you will receive a maximum of 600 SWC/month and a total of 7200 SWC/year. Also, you can make the most of the daily bonus for watching ads and earn a clean 365 SWC/year. Assuming you refer two friends every month, you will receive 130 SWC (26×5 SWC). Out of all, you earn the membership fee stands at 30 SWC per month so you will pay a total of 360 SWC in a year.
The amount you earn in one year is (7200 + 365 + 130 – 360) = 7335 SWC per year, translating to 2.73 years for $1000.
Nevertheless, users of the Sweatcoin can make the most of the app by teaming up with their best friends and sharing points. Since the app allows you to send SWC, you could send your sweatcoins to reach the $1000 cash out even faster.
Further, there is even a quicker way to cash out your sweatcoins and turn it into money. Though it requires some extra effort, you can earn good money by becoming a Sweatcoin influencer.
Sweatcoin Influencer
When a regular user of the Sweatcoin app refers to 30 people, they automatically become an Influencer. Sweatcoin Influencers have access to other specialized markets with more exceptional deals where you can earn more money and even cash out faster.
By the end of November 2018, the minimum payout for Sweatcoin Influencer was 100USD, and they could also earn 100USD for referring up to 50 individuals. Now people with a broader network or influence on social media platforms or have a blog can make the most of the Sweatcoin blockchain compared to a regular user who can only run to earn the SWC.
What can you buy with Sweatcoins?
The Sweatcoin app has a marketplace where you can spend your SWC before it reaches the minimum payout limit. There are many things offered in the app market, including great apps membership plans, consumer goods, or travel items, some of them even for free. It’s upon the user to choose whether you want to wait and cash out your Sweatcoins or spend it on the items offered in the app marketplace.