I was actually using this walking app for the heck of it awhile ago as I always like to get free stuff for things that I do on a regular basis such as shopping at my favourite stores. In this case, I walk a lot and so I decided to try this Sweatcoin App a long time ago. Over the years I have accumulated a lot of sweatcoins but have never spent it. Originally about 20,000 sweatcoins could be redeemed for a $1000 Paypal fund exchange which sounded neat. But that offer seemed to have disappeared.
Overall, the rewards didn’t seem worth it. So, I actually just kept it all while using it as a fun tracker. But today I was surprised to hear that they are entering the Crypto market it seems and is giving an interesting offer. It would seem that with their new upcoming token you could potentially exchange it for other currencies such as Ethereum or Bitcoin by the sounds of it. As a launch special of sort, anyone who creates a wallet can have their Sweatcoin balance converted to these new tokens at a 1 to 1 ratio.
As they describe, as the currency goes on for longer it will take more time to generate one token. Right now it may be 1000 steps for one token but in the future as it continues it may be 1500 steps. So just like any other crypto currency the initial bulk offering will be valuable if the rates increase. Example, imagine having a cheap Bitcoin before that was worth pennies in the beginning but is now worth five figures.
There is no guarantees that the value will ever get that high of course as it heavily depends on market acceptance, but It’s interesting since I already have a large balance and this may as well be my introduction into the Crypto world. So while many of the other currencies rely on computers to process complex computational math problems to mine a token this will all be done with walking. It will be fascinating to see if it ever takes off.