Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Sweatcoin, rival to STEPN, gives cryptocurrencies at every step taken by the user

2 min read


The newest fever on the market, the “move-to-earn” type games, has just gained a new boost. This is the Sweatcoin app, a rival to STEPN, which promises to reward users for every step taken, rather than daily runs.

Sweatcoin is an app, available for both Android and iOS, launched by a company based in London

Unlike STEPN, which requires you to buy a sneaker in NFT format before starting to pay in crypto, Sweatcoin does not need an initial investment.

The app uses Google integration to quantify user steps in the background. That is, you don’t have to keep the app open while moving for the steps to be counted.

Sweatcoin – Application that gives cryptocurrencies

Users who use Sweatcoin will be rewarded in the SWEAT token, built on the NEAR Protocol. As users walk or run, they mint SWEAT tokens, like mining. So, the more users are interacting with the app, the harder it is to get the token.

“While SWEAT is available for purchase, the main difference is that for everyday users, you invest your steps. We hope this encourages people around the world to be more active. We are investing in the future well-being of our users and literally letting them into the world of cryptocurrencies”, highlighted Oleg Fomenko, co-founder of Sweatcoin.

Earned crypto assets can also be converted into goods and services from app partners.

“Sweatcoin was founded with a vision to create a new economy of wealth through health. For every 1,000 steps you take, you earn a Sweatcoin that can be redeemed for in-app goods and services from brands like Sonos and Reebok. Or, you can donate to important charities like Save the Children via Sweatcoin for Good,” says Anton Derlyatka, co-founder of Sweatcoin.

Finally, the company revealed that, in the future, the Foundation will decentralize the movement verification process. This will allow other apps and wearables to check out new ways of moving.

That is, it will pave the way for users to earn crypto assets in activities such as swimming, cycling, walking, gymnastics, etc.

Can BTC break the $1 million mark?

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

More for Reading

What is Proof of Authority (PoA)? 2 min read
Tokenomics – Most popular models 3 min read
Inside Bitcoin: What are nodes actually? 2 min read

Leave a Reply

Your email address will not be published. Required fields are marked *