Are you wondering whether Sweatcoin is legit?
Perhaps you’ve heard that with Sweatcoin you can earn money by simply walking outside and now you’re asking yourself: Is Sweatcoin legit?
We totally understand your skepticism but also bear in mind that people tend to have unrealistic expectations and are quick to dismiss something as a scam, even though it isn’t.
In this guide, you’ll find out whether Sweatcoin is actually legit or just another corporate scam.
So, let’s get started!
Key Points (tl;dr)
- Sweatcoin is a global movement of people who track their steps using the Sweatcoin app and earn Sweatcoin rewards in return for their physical activity.
- These Sweatcoins can then be exchanged for all sorts of goods and services, usually at a nice discount. It’s all very similar to airline miles, except that you earn for moving.
- Nowadays a lot of people are quick to question the legitimacy of such schemes and very often they will call them a scam as soon as they don’t deliver what they expected. However, the term “scam” is being used in an inflationary fashion.
- Sweatcoin is absolutely legit and considering that it doesn’t cost you a cent to participate, there’s so much upside for you.
- That being said, the upside may not be big enough to keep you interested and it’s true that you’re definitely not going to become rich using Sweatcoin. This is also beyond obvious because you can’t actually cash out your Sweatcoin for real money that easily.
- However, calling Sweatcoin a scam is just wrong. It’s not a scam. The fact that many people have unrealistic expectations of what such a program can deliver doesn’t mean that it’s automatically a scam.
- Those who do make such claims are confused people.
For a detailed analysis of whether Sweatcoin is a scam or actually legit, PLEASE READ THE FULL ARTICLE.
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The Truth: Is Sweatcoin Legit or Just Another Scam?www.tokenizedhq.com
Here’s the answer. Great article by @ChrisHeidorn from @Tokenized_HQ here: https://tokenizedhq.com/is-sweatcoin-legit/
What Is Sweatcoin?
Sweatcoin is currently the largest app-based fitness movement in the world and is currently in the process of launching its own blockchain Move-to-Earn platform.
Sweatcoin was founded back in 2016 and its objective has always been to incentivize people to be active and stay fit.
Let’s face it, we could all use more physical activity and walking is one of the most effective and accessible ways of doing so.
Sweatcoin built a mobile app that is effectively just another step tracker that rewards you with “Sweatcoins” for walking.
But here’s the deal. Sweatcoin partners with tons of companies who want to promote their products.
And this happens via the internal marketplace that was built into the Sweatcoin app.
Users can then spend their Sweatcoins in exchange for discounts on products and sometimes even gift cards.
It’s essentially like an airline or hotel rewards program, except that you’re receiving those points for physical activity.
That’s Sweatcoin in a nutshell.
Now, for some reason, a lot of people have been asking: “Is Sweatcoin legit?” or “Is Sweatcoin a scam?”.
We wondered why so many people have been asking this and why many people have continuously claimed that Sweatcoin is a scam.
Check out the next section to find out.
How Do You Define “Legit” or “Scam”?
The traditional meaning of “legit” is that something is legal and adheres to rules, while modern uses of the term can also mean that something is extremely good. Something is a “scam” when it involves misleading and defrauding someone on purpose.
We live in inflationary times and by that, I do not mean actual monetary inflation measured in the consumer price index.
No, I mean that social media has amplified so many voices, including many unreasonable and unintelligent ones, to the point where it’s becoming difficult to tell right from wrong.
We no longer live in a time where objective facts matter.
Everything is about perception and most of the outrage we see nowadays is driven by how people perceive things, not by how they actually are.
This is crucial to understand if we want to properly answer the question “Is Sweatcoin legit?”.
So what does “legit” even mean?
According to the dictionary, “legit” can mean one of two things:
- Something conforms to rules and is legal.
- Something is extremely good.
The former is the traditional (and legal) interpretation of the word, while the latter is an example of modern slang in the United States.
I’m going to stick to the legal definitions because they are more universally accepted and are objective.
However, this differentiation is important once we take a look at what the word “scam” means.
According to the dictionary, a “scam” is a dishonest scheme or an actual fraud.
In other words, something that is illegal.
Do we agree that many people believe that whenever something doesn’t turn out to be what they expected, they tend to think it’s illegal?
And do we agree that perception plays a big role in this?
Great, so let’s move on.
Can Sweatcoin Make You Rich?
No, Sweatcoin cannot make you rich and anyone who believes this is very gullible. Sweatcoin provides economic incentives to its users for pursuing a healthy and active lifestyle, but it is not meant to replace a regular income.
Let’s face it, this is the primary thing that a lot of people were thinking when they first got started with Sweatcoin.
They were told that you can earn rewards for simply walking every day.
But what they actually “heard” is that you can make some serious money by simply walking a few steps every day.
They seriously thought that they would be paid tons of cash prizes simply because they decided to live a healthier lifestyle.
And to a certain extent, I can’t even blame them.
As many companies do, Sweatcoin works with a bunch of influencers who are paid based on how many people they refer.
And influencers being who they are (i.e. just as greedy as everyone else), start to make bold claims about what you can or cannot achieve with Sweatcoin.
Some of them lie outright, while others avoid talking about the limitations of the program.
In other words, people who generally like to believe that there is such a thing as “easy money” came in with completely unrealistic expectations.
The primary motivation was NOT to exercise and get a few perks here and there.
They literally thought they could possibly turn something as basic as walking into a job.
And once they realized that there are limitations to this, they are very quick to dismiss something like Sweatcoin as a scam.
Is Sweatcoin Legit?
Yes, Sweatcoin is a legitimate platform that allows you to earn reward points (Sweatcoin) for physical activity. These rewards can then be exchanged for monetary benefits, such as discounts on products and services. It is the largest platform of its kind in the world.
Thanks for your patience because the groundwork I laid above is crucial in answering the question: Is Sweatcoin legit or not?
The simple answer is: Yes, Sweatcoin is legit.
But you’re not here for the simple answer, so let’s look at some of the reasons why I say that Sweatcoin is legit:
- Sweatcoin allows you to earn points for steps that it can track.
- Doing this doesn’t cost you anything and most people walk every day anyway.
- As you earn more Sweatcoin, you can start spending them on discounts for products and services.
- These discounts have real monetary value, which is confirmed by the implied Sweatcoin price at which many people trade them.
- In some cases, you can even convert your Sweatcoin to PayPal credit (though they are very limited).
- Sweatcoin incentivizes many people to be more physically active.
Looking at the above points, it’s hard for me to understand why anyone would answer the question “Is Sweatcoin legit?” with a simple no.
I can totally see how the above may not be an attractive proposition for everyone.
But that doesn’t mean they overpromised or that it’s even illegal.
The problem is that many people have completely unrealistic expectations.
And when they don’t get what they want, they pout like little children.
Is Sweatcoin a Scam?
No, Sweatcoin is by no means a scam. Some claim that it is a scam, simply because they had unrealistic expectations of how much money they could earn with Sweatcoin. This frustration leads them to believe that they were “cheated”, but objectively, they simply didn’t understand the rules of the program.
People calling Sweatcoin a scam is one of the most ridiculous things I’ve seen in a long time.
It’s totally fair to ask “Is Sweatcoin legit” before actually trying it out, but to go as far as saying Sweatcoin is a cam is a bit outlandish.
But let me put on my “empathy hat” for a moment.
People came in with completely unrealistic expectations, but I guess that’s the way they perceive the world.
So what exactly made them start calling it the “Sweatcoin scam”?
Here are some of the reasons why I believe they did:
- Only the first 5,000 steps per day go towards earning Sweatcoin.
- The step tracker sometimes doesn’t count indoor steps properly.
- Not all of the marketplace offers are attractive to everyone.
- In order to extract value from your Sweatcoin, you usually have to spend money to buy something.
- There’s no easy way to convert Sweatcoin to USD or EUR currency (only possible via gift cards).
So, in other words, people are upset because they’re not being paid in hard currency to do something as basic as walking.
They truly believe that there is some philanthropic higher instance that is willing to pay them cash just so that they’ll go for a walk.
That makes them ask questions like “Is Sweatcoin legit” or claim that Sweatcoin is a scam.
It’s absolutely ridiculous.
I genuinely believe that the majority of humanity is simply beyond repair.
This is literal “idiocracy” at its best.
Sorry for the rant, but this stuff really upsets me.
What is the Sweat Economy?
The Sweat Economy is Sweatcoin’s new blockchain Move-to-Earn platform that is scheduled to launch on September 12th, 2022. It is built on the Ethereum blockchain and uses the NEAR protocol.
I was actually surprised they didn’t launch something like this much earlier.
However, I suspect the future of the blockchain and cryptocurrency was still too uncertain at the time.
The total initial supply of $SWEAT will be determined by the total amount of Sweatcoin previously earned via the app.
Afterward, the objective is to create a true Move-to-Earn economy where $SWEAT can be traded on crypto exchanges.
This holds tremendous value because it opens up so many possibilities for people to finally “cash out” their Sweatcoin to something they actually value.
So is Sweatcoin legit? Of course, it is and it’s anything but a scam.
The problem is that people have become incredibly lazy and have been conditioned to have unrealistic expectations.
And as soon as things don’t turn out to be as easy as they had hoped, they are quick to dismiss it as a scam.
Here at Tokenized, we want to help you learn as much as possible about finance and cryptocurrency. We help you navigate the world of tech and the digitalization of our society at large, including the tokenization of assets and services.