Sweatcoin made a big announcement in April of 2022. They are launching a Cryptocurrency that gains its value from people taking actual steps. That’s right, you can earn a spendable, tradeable, sellable crypto token by simply taking a walk or going for a jog…but not in the USA.
According to Sweatcoin co-founder, Oleg Fomenko, SWEAT crypto will NOT be offered in the United States because of a “regulatory situation” Therefore, if you live in the United States and have been walking and running for years to collect these tokens, you are out of luck. You cannot “Opt-In” and you will have no access to the SWEAT Economy.
Obviously, this brings up many other questions. Some I can’t answer because I don’t have access to a SWEAT wallet, but I will try to answer some of them here, so read on my fellow walkers/joggers/runners…
Before I get to some of the questions about SWEAT and the SWEAT Economy, I would like to address the co-founder’s answer as to why United States users can’t participate.
Why Isn’t SWEAT Crypto available in the United States?
According to the co-founder of Sweatcoin, Oleg Fomenko, Sweat will not be available in the United States because of “regulatory reasons”
That obviously does not give a very precise reason for banning SWEAT Cryptocurrency in the United States. I have tried to get more information from Sweatcoin, but have been unsuccessful. I attended an online summit with Oleg and others from Sweatcoin and their answers as to why SWEAT is not allowed in the United States remain vague. It leads me to wonder if SWEAT is an actual cryptocurrency or just a ploy by Sweatcoin to collect more subscription fees for their Premium service.
What Is SWEAT Cryptocurrency?
Starting in the Summer of 2022, Sweatcoin will be giving all of its members an equal amount of SWEAT cryptocurrency for every Sweatcoin they have accumulated since the inception of Sweatcoin, about 7 years. I have been a member since 2019 and have earned about 21,000 Sweatcoins. When I first started, that amount of coins would be worth a week-long trip to Disney World for 4, or a 75-inch TV. Now it is worth less, much less, but you can read all about that here in the post I am writing later today, Is Sweatcoin a Scam? For now, let’s just stick with the new SWEAT cryptocurrency.
When Will SWEAT Cryptocurrency Be Available In The United States?
I asked this question during the online summit and was told that until the regulatory environment in the United States changes, SWEAT cryptocurrency will not be available. That’s it. It may have to do with how the coins are earned, or how they are valued. I don’t know. Those of us in the United States and the other countries where SWEAT Crypto is not available will just have to wait and see. I wish I could tell you more, but that is all the information I can get.
How Does SWEAT Cryptocurrency Affect The Value Of Earned Sweatcoins?
This is one question I have been asking and I seem to be getting the answer from the Sweatcoin store. It seems like the Sweatcoins you earn by walking will be turned into SWEAT crypto, but will also be available to spend in the Sweatcoin store. The problem is that the Sweatcoin store is ALWAYS sold out or the items are out of stock. Once Sweatcoin introduced SWEAT crypto, the value of a Sweatcoin, practically, went to zero, unless you are in a country where they can be converted to SWEAT. I have written an entire post about this devaluation of Sweatcoins in my post, Is Sweatcoin A Scam? I’m Afraid It Is.
I hate to call Sweatcoin a Scam because they seem to have been trying hard to make it work, but the truth is, If you pay money into Sweatcoin, you most likely will not receive anything of value in return. I haven’t.
When Will SWEAT Cryptocurrency Drop?
Sweatcoin has now said that SWEAT will drop on September 12, 2022. For those who have been walking and earning Sweatcoins, They will receive one SWEAT for every one Sweatcoin that has been earned. This will be a one-time drop and going forward, SWEAT will be earned alongside Sweatcoins. My personal opinion is that SWEAT will be even less valuable than Sweatcoins are right now. I may be wrong, but I doubt it.
How Much Is SWEAT Cryto Worth?
Like Sweatcoins, SWEAT cryptocurrency will convert walking and other physical activities into “spendable” currency. If Sweatcoin is an example of the fledgling SWEAT economy, I would have to say that SWEAT coins will be worth close to nothing. Sure, people may be able to take advantage of others and make a profit on this new cryptocurrency, but I think the only winners will be Sweatcoin and the influencers who tell stories about how wonderful Sweatcoin is.
How Does SWEAT Compare To Bitcoin?
It does’t. Well, I digress. It may compare, eventually. SWEAT is closer to equating to zero right now, but it seems that Bitcoin is on a similar track. At the typing of this post, Bitcoin is “worth,” trading, really at about $20,000. SWEAT, you’d be lucky to get 1 cent, not that SWEAT is worth that much. If you have any doubts, just download the Sweatcoin app and see for yourself how much you can actually spend. The answer is zip, (unless you count 50% off any item on the internet that already offers 50% off)
Final Thoughts On SWEAT Cryptocurrency
If you haven’t guessed by now, I don’t have a warm and fuzzy feeling about Sweatcoin. I used to, I really did, but they have shown me, over the past three years, that they cannot provide what they say they can. I have no doubt that SWEAT crypto will be as valuable as Sweatcoins are which is not very much. I only have one piece of advice; Stick with the FREE level and don’t give Sweatcoin one cent of your money because you will never see that penny again.
Now, go elsewhere and Earn What You’re Worth….and MORE
Anderson