Get our FREE Guide: 21 Days to a Better Financial Life!
I am always looking for new ways to earn passive income. Some passive income sources produce sizeable income, while others are only a few extra dollars in your pocket. However, even for the ones that only put a few bucks into your pocket, if they’re passive enough, I still think they’re worth considering. That’s why today I am sharing with you my Sweatcoin review, an app I recently tried, which rewards you for walking.
What is Sweatcoin?
If you’ve found your way to this Sweatcoin review, maybe you’ve never heard of Sweatcoin, or perhaps, you’re wondering if it’s right for you. In a nutshell, Sweatcoin is a free app that tracks your steps and then provides rewards for those steps.
One reason I like Sweatcoin is that you can earn rewards while also doing something good for yourself – exercising!
How Does Sweatcoin Work?
Sweatcoin works just like any other app. Start by downloading Sweatcoin on your Apple or Android phone and sign up.
Once you’re signed up, Sweatcoin will track your steps (when the app is running in the background).
It used to be that Sweatcoin didn’t track steps inside. The good news is, that is no longer the case! Sweatcoin tracks steps both inside and out! Again, the key is keeping the app open in the background.
The way it works is that as it tracks steps, it provides a reward called Sweatcoins. You can redeem Sweatcoins for experiences, charity, products, and more.
Where is Sweatcoin Available?
At the moment, Sweatcoin is available in approximately 50 countries (you can view the full list here).
It’s available in many countries all over the world!
How do I Signup for Sweatcoin?
Again, all you have to do is download the app from the app store to get started!
How Many Sweatcoins Can You Earn?
One common question I want to address in this Sweatcoin review is how many Sweatcoins you can earn. The way Sweatcoin works, you will earn approximately 1 Sweatcoin per 1,000 steps that you take. Think of these Sweatcoins a bit like a digital currency that allows you to redeem your earnings for rewards.
In concept, if you walk 10,000 steps per day, you’ll earn 10 Sweatcoins per day. However, there is a little bit of “spill” whereby Sweatcoin may not count a few steps here or there. But, generally, I have found the tracking to be pretty accurate.
One common question is how much money you can make using Sweatcoin. This is where things get a bit interesting. Sweatcoin offers different types of rewards that you can buy using your Sweatcoins.
While it has historically been possible to redeem Sweatcoins for cash (if you have a lot of them), at the time of this writing, there is not a reward option that is payable in cash. Most of the rewards tend to lean towards products and experiences (more on that in a minute).
Sweatcoin Subscription Levels
Sweatcoin does offer subscription levels that allow you to earn Sweatcoins faster. In other words, if you think you can log lots of steps, signing up for a subscription will enable you to earn rewards sooner.
The base tier (entirely free) is Sweatcoin Mover. This tier allows you to earn up to 5 Sweatcoins per day. For most people, it probably makes sense to stick with this unless you track a lot of steps (which I’ll get to below).
The next tier up is Sweatcoin Shaker, which allows you to earn up to 10 Sweatcoins per day. Sweatcoin Shaker is the first “paid” tier, but it is payable in Sweatcoins. You will pay 4.75 Sweatcoins per month for this level. In other words, if you think you’ll earn more than 4.75 additional Sweatcoins per month (based on the cap of 10/day), try out this level. For a lot of folks, if you plan on taking 10,000 steps per day, this can be a good option.
Quaker is the next level up, and it allows you to earn up to 15 Sweatcoins per day, costing 20 Sweatcoins per month.
Sweatcoin Breaker is the highest tier of Sweatcoin that is payable in Sweatcoin. For a total of 30 Sweatcoins per month, you can earn up to 20 Sweatcoins per day.
Sweatcoin Trouble Maker
Finally, Sweatcoin does offer one tier that is payable in cash at a rate of $0.99 per month (or $9.99 per year). This tier allows you to earn up to 50 Sweatcoins per day or up to 1,500 per month. It also doubles the rate at which you receive Sweatcoins, meaning that for every 1,000 steps, you will earn 2 Sweatcoins.
Unless you plan on logging a ton of steps, it probably doesn’t make sense to go down this path.
How to Spend Your Sweatcoins
Now to the fun part of this Sweatcoin review – spending your rewards! Sweatcoin has many different types of redemption options. There are many small redemption options (things like hats, knick nacks, etc.), but there are also more exciting options if you have lots of Sweatcoins saved.
Two of the more interesting types of rewards are Crowdfunding and Marathon offers.
Crowdfunding allows people to donate their Sweatcoins to charitable causes effectively. As an example, one current offer is to provide emergency aid to those suffering in Lebanon after the explosion in Beirut. I used this option myself today!
If you’re looking for something nicer for yourself, that’s where Marathon offers come into play. Marathon offers are typically expensive products that you can buy with Sweatcoins – things like Bose speakers, Dyson hairdryers, etc. Sweatcoin also offers “bucket list” experiences for things like seeing the Northern Lights in Finland, going to Disney World, etc.
While these sorts of offers do cost a lot of Sweatcoins, they can be an enticing long-term goal to work on spending more time moving.
Common Questions about Sweatcoin
To finish up this Sweatcoin review, I want to address some common questions I get about the app.
Can I Redeem Sweatcoins for Cash?
Again, on occasion, Sweatcoin has offered ways to convert your Sweatcoins to cash, but usually, this redemption option requires a lot of Sweatcoins.
At the moment, there is not an offer to redeem Sweatcoins for cash.
How does Sweatcoin Make Money?
Perhaps the biggest question I had when I started is, how does Sweatcoin make money. Similar to your credit card points, Sweatcoins are like a digital currency that allows you to redeem rewards.
The way this works is brand partners (like Bose, Dyson, etc.) pay Sweatcoin to be featured as a reward in their app. Brands have an avenue to connect with you, and you can get your hands on their product for FREE!
If you want to learn more, Sweatcoin has a whole post dedicated to how they make money.
Is Sweatcoin a Scam?
Many people ask if Sweatcoin is legit. Yes, it is, in fact, legit, and I know because I use the app myself. Again, Sweatcoin can be entirely free because brand partners pay Sweatcoin to be featured in the app.
There is no catch with Sweatcoin – simply walk (or run) and turn those steps into rewards. It is that easy.
Is Sweatcoin Safe?
Sweatcoin is very safe, in large part, because they collect little personal information about you. All of your data remains completely anonymous, and you don’t have to provide much more than a name and phone number.
The app does use GPS data when you are outdoors, but so do countless other apps.
I feel very comfortable using Sweatcoin myself.
Is Sweatcoin Worth It?
Wrapping up this Sweatcoin review, deciding if Sweatcoin is worth it is probably the hardest question to answer. Is Sweatcoin going to make you rich? No, it is not. Can Sweatcoin motivate you to move a bit more, and earn some rewards along the way? Absolutely.
Sweatcoin is a way to get moving more and earn some benefit in exchange for that. For me, that’s reason enough, even if it means it takes a long time before I can receive a reward that is of value to me.
Ready to Try Sweatcoin for Yourself?
If you’re ready to try Sweatcoin for yourself, download the app today! I hope you find it motivating to move a bit more and earn some rewards along the way!