READING TIME: 2 MINUTESSweatcoin is a non-traditional digital currency. You might be surprised to find out that it has no blockchain nor is it (currently) traded like other cryptocurrencies that are on an exchange platforms.
In January 2018, Sweatco Ltd. (creators) announced that Sweatcoin will eventually be listed on an exchange. They even mentioned that it will have a type of blockchain. Nothing further than that is known, nor is a buildmap available.
Why is Sweatcoin different than other blockchain cryptocurrencies?
There are no limits to Sweatcoins you can hold at once for the time being. Surely, there’s a limit to how many Sweatcoin can be generated in a day (5 SC/day with lowest plan, 20 SC/day with highest plan) through walking and running (and cycling, if it’s slow enough), but the coin has no capacity limit at the moment. Therefore, Sweatcoin is an inflationary currency. The more users that generate Sweatcoins, the less each is worth (or highest, because the more coins there are, higher the chances of it becoming a tradeable coin, therefore getting an actual value to the dollar).
However, as we’ve recently seen on blockchain forums and chat rooms, Sweatcoin is trading for increasingly higher prices day by day. That’s because its creators hinted at a blockchain cryptocurrency in the works.
I’m a cryptocurrency investor. What do I do?
Best thing for you to do right now, to get the most of your investment, is to wait for any big announcements regarding any potential launch on trading platforms OR buying up a few thousand coins since they are not that expensive atm (1 SC ~ 0.01$ at the time of writing this). Download the app. Buy Sweatcoin on Reddit or Discord, or buy Sweatcoins on this website.
Before you invest you should first decide that you think this coin will increase in value. Take into consideration that this is the first potential-cryptocurrency that incentivizes physical activity. There are absolutely no coins like it! All currencies as we know it are either pre-mined or require mining using your CPU or GPU. Sweatcoin requires no computer; it’s only requirement is a simple smart phone and a pair of running shoes.
This is exactly why I think this coin will become very popular in the near future; it’s accessible to nearly everybody. Any person can download the Sweatcoin app and within minutes start generating coins!