You want to earn money off of Sweatcoin do you? Well, it is certainley doable.
Sweatcoin is the app that pays you to move and sweat, but, they pay you in Sweatcoins. And, those Sweatcoins could be worth some very good money both now and in the very near future.
Let me lay out an argument to all my Average Joes on why you MUST have this app in your arsenal.
Sweatcoin History
Oleg Fomenko and Anton Derlyatka founded Sweatcoin in 2016. The app was built on the idea of using human movement to mine and generate a digital currency. This Sweatcoin currency is more akin to gaming tokens found in a video game than an actual currency.
There appears to be an unlimited number of Sweatcoins available as opposed to other cryptocurrencies which limit the volumes of their respective currencies. For example, Bitcoin has a limit of 21 million coins; which are currently being mined at a rate of about 1,800 coins per day.
Ease of Use
I am not technological proficient. By any means. I am lucky to just have this blog up and running. But, I can download an app and sync it with my Fitbit. That I can do. Then to activate, you step outside and start moving your body.
The app does not care if you run, play soccer, walk, or go fishing. As long as you are moving your body, the app tracks your movement and converts that movement into Sweatcoins.
The conversion rate of your movement is 1,000 steps = .95 of Sweatcoin.
Indoor movement will not get you anything. No treadmill running here.
In comparison, cryptocurrency mining today for Bitcoin, Ethereum, Litecoin and others requires specialized computer hardware, massive amounts of electricity, internet connections and armed guards. Those computer banks are expensive.
This barrier of entry limits most Average Joes from setting up a bitcoin mining operation in their home to simply just mine cryptocurrency. However, there are those who do have home mining operations, as in the beginning, this was a feasible endeavor.
Adoption
With an estimated 20 million downloads (I could not find the exact numbers and this number was from another source) from the Apple app store, the Sweatcoin nation is now equivalent to many small countries.
Certainly, not all who have downloaded the app are as obsessed with it as I am. In fact, I would argue many have simply forgotten about it. But, a growing Sweatcoin population of zealots (me included) are moving forward and realizing the value and potential future value of the Sweatcoin currency. This group of zealots are what is propelling the app to worldwide adoption in my opinion. We saw this same effect with Bitcoin.
Not all countries currently have Sweatcoin available to them. But nations are being added at steady rate. The latest nation to get Sweatcoin was Italy and this was on November 1, 2018 which I noticed in my Instagram feed.
Monitoring Sweatcoin activity on Instagram, when a post appears from anyone that appears to be a Sweatcoin official, I see comments from people from such diverse countries as Iran, the Dominican Republic, Belgium, Peru and others begging the app be made available to their respective country. There is a growing demand for this app.
I posted a Sweatcoin related note on Instagram recently and a person from Africa messaged me encouraging me to bring the Sweatcoin app there (I have no control over that, I am just an Average Joe).
With a growing demand for the app, the natural evolution was a marketplace for Sweatcoin redemption and the eventual trading of Sweatcoin.
A Marketplace
“The propensity to truck, barter and exchange one thing for another…is common to all [people], and to be found in no other race of animals.”
Adam Smith
Currently within the app, users have the ability to trade Sweatcoin currency for goods. For example, at the time of this writing, an iPhone XS sells for 20,000 Sweatcoin; a $1,000.00 cash transfer sells for 20,000 Sweatcoin; and, a Starbucks $50.00 gift card trades for 3,648 Sweatcoin, among other things. Sweatcoin is advertising for more companies to participate within their marketplace and I would assume this is going to grow.
This marketplace allows for and incentives the Sweatcoin nation to work for something other than just good health. This radically separates the Sweatcoin app from most other fitness apps. By using instant gratification (earning Sweatcoin) with delayed gratification (the anticipation of earning something in the future), users keep coming back, earning ever more Sweatcoin.
A secondary market has also formed up for the informal trading of Sweatcoins among users. Whenever I post something about my Sweatcoin activity, I get numerous people offering to buy my Sweatcoins or to sell me their Sweatcoins. So far, I have declined.
I also began to wonder, why are all these people offering to buy my Sweatcoin? Had I missed a memo somewhere? Apparently, I had.
Cryptocurrency
During an informational summit in 2018, the Sweatcoin founder(s) revealed their interest in evolving the current status of Sweatcoin from an internal gaming rewards mechanism to an external cryptocurrency. This objective would be to eventually have Sweatcoin traded on the cryptocurrency exchanges and traded on the open market as readily and as easily as Bitcoin, Ripple or Litecoin is today. Now, any aficionado of cryptocurrency could buy, hold or sell Sweatcoin. Not just Sweatcoin users.
Think about those possibilities for just a one moment.
Exponential Potential
Around the world, 1.4 billion people earn less than $1.25 a day. Suddenly, armed with low costs activity trackers and a cell phone, these people could be earning Sweatcoin every day, then trade their earned Sweatcoins on the open market to a person sitting in a chair writing a blog (like me in Puerto Rico) who then uses that traded Sweatcoin to buy that IPhone XS that he has been coveting and is sold by a trader in California.
Suddenly, every human being in the world, now has the potential to be earning a currency which either supplements their existing income or could be their primary income. This playing field is even. It does not matter how what college you went to. It does not care who your parents are. The poorest of the poor are now on equal footing as the richest among us.
All that the Sweatcoin app cares about is if you move your body; each and every day.
Ahmed the goat herder in Afghanistan moves his herd to a new field, earns enough Sweatcoin to trade for a new winter coat. Augustine in Nairobi walks 10 miles to a fresh water source also earns enough Sweatcoins to trade for his sick child’s medicine. Jose in Venezuela runs a marathon and now has enough Sweatcoins to buy a gallon of milk for his hungry child.
Think about that; a currency that is universally accepted; that is not established or controlled by governments; that is generated by human physical activity and can be traded within moments of earning, to anyone in the world.
This is the true democratization of currency. Sweatcoin has created a universal playing field where we are equal to one another. This has never been done before. In the history of the world. Ever.
And, that sound you just heard, was the front door being shut.
Future Valuation of Sweatcoin
No one can predict the future values of cryptocurrency. People can speculate. They can pontificate. And, they may prognosticate. It is all just bunk. They do this in an effort to sell books, attract eyeballs to websites and to generate interest in the crypto coin they currently hold; but do not tell you.
But, we can make educated guesses about Sweatcoin based on the current market interests among the current users and adopters.
As mentioned earlier in this piece, within the Sweatcoin app marketplace (as of this writing) there is an offer currently for the exchanging of $1,000.00 cash for 20,000 Sweatcoin within the marketplace. This translates into an actual cash value for Sweatcoin of about $0.05 per coin ($1,000.00/20,000 = $.05 per coin).
In the open offers I have seen on the internet and received via Instagram, I see a valuation of between $0.02 and $0.05 per Sweatcoin.
That is a valuation just among the Sweatcoin enthusiasts among us and serves as a good benchmark for our educated guess; as an item traded is only worth what the market will bear.
In comparison, if we look at Bitcoin, which is our cryptocurrency gold standard and in finite supply, when it was first launched around 2009 to 2010 it was valued at between $.01 and $.08 per coin. Or, the price of a piece of candy.
By July 2010, Bitcoin began its climb upwards and would break $1.00 within a few months in February 2011. Here it reached parity with the US dollar. At that point, all bets were off as the roller coaster ride began and Bitcoin became the media darling. Currently, 28.5 million Bitcoin wallets are in existence and actual users may only number in the very low millions (1.5 to 2 million is one estimate).
Cryptocurrency is now tradeable worldwide although it has not gained universal acceptance and usage among all. This takes time. Just like in the 1980’s not everyone had a credit or debit card. Now, those cards are universal and ubiquitous among industrial nation’s populaces.
Over Saturation
With Bitcoin, it took about three years for market acceptance as the Bitcoin movement laid the foundation for future acceptance of cryptocurrency. Now, thousands of crypto currencies are in development. This is not good and most will fail. If we look at current currency trading we can see the future of cryptocurrency.
There are 194 countries in the world and 180 different currencies. Most use their own country centric currency. Most of these countries, even those who despise our political leanings, will accept US dollars, however, US merchants won’t accept currency from other countries. Some countries, cannot even give their currency away. For example, no one wants Venezuelan dollars (known as Bolivar Soberano).
History is awash with currency that is no longer accepted either due to changes in government administration, changes in thinking or changes in practice. But no one would pass up a shiny gold coin. Those are still universally acknowledged and coveted.
Bitcoin is the accepted gold standard of cryptocurrency at present. Litecoin, Bitcoin Cash, Ethereum and others are gaining reception and becoming more common for everyday transactions. Ripple is designed to address a specific industry niche. But, will other cryptocurrencies gain acceptance?
That is the billion dollar question.
Summary
Sweatcoins value may not rise to that of Bitcoin’s pinnacle of $19,783.21 on December 17, 2017. The ability of the Sweatcoin algorithms to continuously generate coins means there is an unlimited supply coming into the marketplace. History has demonstrated that items that are in unlimited supply, have never been known to escalate in value exponentially.
Take a bottle of water. A bottle of water is always going to trade for about the same price ($1.00). There is too much of it in circulation to increase its value. Unlike an ounce of gold, which is in very limited supply and thus far more valuable to the lay person (1,200.00).
Now, if we were lost in the desert, suddenly those valuations for an ounce of gold and bottle of water would suddenly switch. But, that is another story.
But, I argue that Sweatcoin does have an intrinsic value as is demonstrated by its current users and current speculators. This gives us a basis for our decision making going forward if we want to buy or sell.
We can earn Sweatcoin and we sell what we earn. We can add value to our bank accounts by being sellers. We can acquire Sweatcoin, store them up and then trade our Sweatcoins for goods and possibly even services in the near future. And, that gives me hope.
And, if nothing else, I have lost 30 pounds so far earning my Sweatcoin!
If you want to earn Sweatcoin, and be part of the nation that is willing to pay you for your activity, follow my link, and you will earn 5 Sweatcoin. Give Average Joe Arbitrage a shoutout and let me know you joined, and I will add something to your account. My gift to you!
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