Sweatcoin: Monetize Your Steps
January 24, 2018
A mobile application called Sweatcoin has conquered App Store charts. How did it become so popular? Because it allows users to earn cryptocurrency with their steps.
Sweatcoin has more than 2 million active users per week, which makes it one of the fastest growing fitness apps in the App Store. In fact, app's revenue has increased by 266 percent in Q4 2017.
How does it work? Users install app and register there. Then they connect their health data with the app and give it a permission to track GPS location. After that, Sweatcoin starts to count how many steps you took during the day and rewards you with sweatcoins, amount of which depends on the distance you covered. For every 1000 steps, you will be paid 0.95 sweatcoins. One can spend these coins on fitness classes, gift card and some other offers.
Recently, the startup behind the app rose $5.7 million. Sweatcoin founders claim that they plan to use this funding on expanding beyond United States and United Kingdom markets to other English-speaking countries and then to mainland Europe and Asia.