How Much Is Sweatcoin to USD? (With Conversion Table)
Less than one month ago, Sweatcoin launched their new cryptocurrency, ‘$SWEAT,’ a cryptocurrency that is minted by walking. They created a move-to-earn blockchain that, in layman’s terms, pays people crypto to walk. Sounds crazy, right?
This crypto is causing intrigue not just in people interested in blockchain but people with all kinds of interests since they already have more than 100 million registered users.
Making the conversion from Sweatcoin to USD is easy. Right now, according to TradingView data from Bitfinex, the price of 1 $SWEAT equals $0.0278.
If you want to convert Sweatcoin to USD you must first know that it isn’t listed in any official crypto exchanges; what’s listed is $SWEAT (the crypto), and it’s only on Kucoin, Bitfinex, and FTX (not in the US).
So if you’re looking for an easy-to-read conversion table and more information about this project, this article will help you.
|USD ($)||Sweatcoin ($SWEAT)|
If you’re looking for a real-time updated price, you should go to TradingView and check their data from Bitfinex.
Is Sweatcoin a currency?
Sweatcoin is not just any regular currency, it’s a cryptocurrency created by Sweatcoin developers; minted or “created” by walking, meaning that the more you walk the more $SWEAT you will earn.
We are currently in the first of four phases of the project. Want to learn how it works? Stay with me.
It started with the TGE (token generation event). It provides services like:
- A Sweatcoin wallet to stake your $SWEAT
- A marketplace offering products and services to cash out your coins
- Rewards for staking your coins
It will be taking place at the end of this year. This phase will also have new features like:
- Sweatcoin NFTs
- The ability to buy $SWEAT with Fiat on their platform
- An inactivity fee
This phase is a leap forward, taking place next year. Every coin is harder to mint over time, meaning that you will have to walk more to earn the same amount of coins. Making it 3 times harder to mint 1 $SWEAT by next year, meaning that for 1,000 steps you’ll only win 0.33 $SWEAT instead of 1. The project will become a DAO (decentralized autonomous organization), which aligns with their Web3 and blockchain development vision.
This phase will have:
- An NFT marketplace
- A Crypto exchange
A more consolidated project to support and create an “economy of movement.” It will focus on:
- Providing movement data analysis
- New movement validators (swimming, cycling, etc)
How to use Sweatcoin
It’s super easy; you just have to download the app on their website and start using it to track your steps. Just leave the app open in the background, and it will track how many steps you walk daily to calculate how much $SWEAT it will pay you.
What is the price of one Sweatcoin?
Right now, according to TradingView data from Bitfinex, the price of 1 $SWEAT equals $0.0278. Of course, the price changes like any other asset, but what gives value to this project is the utility you get with it.
They are creating demand for the app by offering different products and services and incentivizing people to engage with their move-to-earn platform. The idea is for people to stake their coins and spend as much as possible in rewards.
How much can you make for 1,000 steps?
Sweatcoin offers 1 $SWEAT for every 1,000 steps, which means that, at the current price, you are making around $0.027 every time you walk 1,000 steps with the app on your phone.
This will change over time, as the developers have stated that it will be harder to mint $SWEAT in future phases. For example, in 2023, every 1,000 steps taken will grant you 0.33 $SWEAT.
Can you convert Sweatcoin to cash?
Since the TGE, you can make the conversion from Sweatcoin to USD by trading $SWEAT vs USD and other crypto pairs in Bitfinex and Kucoin. But you can also cash out your Sweatcoin for various products and services in their marketplace, including smartphones, shoes, yoga classes, and more.
So basically, the best way to cash out your Sweatcoin is by exploring their products and services and even converting Sweatcoin to USD.
Can you spend Sweatcoin on Amazon?
You can’t spend Sweatcoin to buy something on Amazon, but you can cash out your $SWEAT for Amazon gift cards on Sweatcoin’s marketplace.
It’s like getting special bonuses for tracking your daily steps!
As of this moment, 1 $SWEAT equals $0.0278. Making the conversion from Sweat to USD is easier since the TGE a few weeks ago.
If you’re looking for price conversion from Sweatcoin to USD, you can go to TradingView and check their data, but you can also see more visual information about the value of $SWEAT in the chart above.
This revolutionary move-to-earn platform leads the path to creating an “economy of movement.” Sweatcoin’s evolution will continue treading along the development phases while growing demand for products and services built with blockchain technology.