Sweatcoin is a pretty good motivator to get people off the couch. It promises value for each step you take in the form of “Sweatcoins.” You earn about 1 Sweatcoin for every 1000 steps you take. You can even pay an annual fee to double that to earn 2 Sweatcoins for every 1000 steps you take and earn unlimited coins per day. Sweatcoin tells the truth when they say you can earn a lot of Sweatcoins by simply taking long walks, but where Sweatcoin falls short is giving you the ability to use those Sweatcoins for anything of value.
I have used the Sweatcoin app daily for over 3 years. I have been excited about its promise, yet disappointed time and time again. I have come to the conclusion that Sweatcoin is a scam. They take your money, and a lot of your time and provide nothing of value in return. You can earn all the Sweatcoins you want, but you just can’t spend any. Sweatcoin is a typical pyramid scheme. They can’t earn enough money to pay for what they promise so they focus on bringing new money from new users to try to provide token payouts to existing users. They are even failing at this. The problem is this…There is no monetary value in exercise. DO NOT PAY FOR THIS APP!
I have written several posts on Sweatcoin and my experiences with the app. You can read those here….
Sweatcoin Premium; Is It Really Worth It?
Sweatcoin Auctions! What You Can Expect
Sweatcoin TroubleMaker Is Here!
How Much Do You Make With Sweatcoin? My Real Life Results
I have had to go back and update each of these because what I wrote then does not apply now. Here are a few, sad examples…
Sweatcoin Was Free But Now Charges
In the beginning, Sweatcoin was FREE. They had a tier system where you could spend some of your sweatcoins (SC) in order to earn more at a higher tier. For instance, you could spend 30 SC per month, which would increase the amount of SC you could earn to 600 per month from 150 per month max. There were 4 of these tiers, 1 free, and 3 that cost sweatcoins, but then they added “Troublemaker.”
With Troublemaker, the scamming started to get ramped up. Now Sweatcoin was offering a way to earn 50 SC per day, but it would cost you $1.49 per month. Now, this would have been a good deal if you were able to earn the coins fast enough to buy some of the big prizes. For instance, there was a 5-day Disney trip that they were selling for 18,000 SC, but those “Sold Out.” Let me tell you, if you get involved with the sweatcoin app, you will see “Sold Out” several times daily. In fact, I have not seen an offer worth anything that has not been “sold out” in several months.
Now there are 3 levels of sweatcoin. 1) Free, 2)Troublemaker (0.99 per month now), and 3) Premium ($24.99 per year). These paid levels allow you to earn more worthless sweatcoins, but you still can’t spend them. DON’T SPEND MONEY ON SWEATCOIN!
There Are No Big Awards With Sweatcoin
Also, in the beginning, Sweatcoin created “Marathon” offers and “Bucket list” offers. This was way back in 2020. When I first started all I wanted to do was earn 8000 sweatcoins to buy a 4k action camera, but like the trips and the TV’s they all got sold out before I was able to even get half way. Now the biggest thing that sweatcoin puts up for sale is a $100 gift card which goes for about 2000 sweatcoins, but they are sold out or out of stock before I can open the app. I have 22k sweatcoins with no way to spend them.
But Sweatcoin introduced auctions. These seemed to be a good way to spend a lot of sweatcoins at one time, and for a few people, it was. The items up for auction were TV’s, $500 and $1000 gift cards, Pelaton Bikes, etc. The problem with the Auctions is that demand was very high, so the prices started to skyrocket. Soon one couldn’t win an auction without having at least 30,000 to 35,000 sweatcoins. And then Sweatcoin got rid of the Auctions.
Sweatcoin Auctions Have Been Discontinued
I think this was a big mistake for Sweatcoin because there is now nothing to “save up for,” even if you know it would take years. Now people are stuck tens of thousands of sweatcoins and all they see on the app is “Sold Out” or “Out of Stock.” I can’t be the only one who notices that there is NEVER anything to spend your sweatcoins on.
Sweatcoin Has Introduced SWEAT Cryptocurrency
In the summer of 2022, Sweatcoin SWEAT, which is a new cryptocurrency. I personally don’t know a whole lot about SWEAT because it is not available in the United States. I’m guessing it’s because it is even more scammy than sweatcoins and they don’t want to deal with United States regulators.
They say that there will be a whole new economy based on “movement” and “steps.” Very similar to sweatcoins, one would be able to walk, earn SWEAT crypto and spend that money on goods and services. Unlike Bitcoin, there would be unlimited coins available because new ones are made every second by people walking.
As for the scam-factor. Only people who get in early and with a lot of sweatcoins (The initial Drop of SWEAT allowed app users to receive 1 SWEAT for each of their sweatcoins.) then going forward you would earn a SWEAT for each 1000 steps, but they plan to double the amount of steps it takes to earn a SWEAT several times in the future. I personally don’t think SWEAT will be worth anything especially for people who have yet to start.
Final Thoughts
I have given Sweatcoin every benefit of the doubt for many years, but it has become clear that they offer me nothing of value. I was walking before them and will continue after them. Sweatcoin is a SCAM and you will most likely, unless you get extraordinarily lucky, lose every cent you pay for an upgraded level.
Just in case you think I’m exaggerating, just look at all the examples of “Out of Stock” and “Sold Out” in all of the screenshots. I could add 2 per day for the foreseeable future. Seriously, how the hell could I possibly spend 22k coins when NOTHING is ever in stock?
With sweatcoin you can earn all the coins you want, but you can’t spend them on anything worthwhile. Stay away, is my advice. Now…
Go Earn What You’re Worth…And MORE!
Anderson
SWEAT served it’s purpose which was/is to make the devs money. Like you I’ve inquired on the chat what are the issues behind the SEC action and there’s been NO response. It’s another typical crypto scam where the devs are just interested in the money
I’ll just continue to collect my free sweatcoin to add to all my other worthless free shitcoins.
Hi, what would you recommend instead?
I would suggest you stick to the free version of Sweatcoin. You will earn fewer sweatcoins, but you’ll still be able to spend the same ZERO. The Premium offers are ALWAYS sold out! No exception for the last 3 months.