Finding the motivation to keep fit is a universal struggle, but what if you were paid to exercise?
That’s the idea behind Sweatcoin, a free app that turns your steps into digital currency.
Want a way to workout and earn some coin? Sweatcoin has risen to the top of the App Store for helping folks get something more than just a glow for taking those daily steps.
The startup says it has accumulated more than 5 million users in the past year and increased revenue by 266 percent in the last quarter. There are more than 2 million weekly active users on the app, and growing, making it one of the fastest-growing fitness apps in the App Store and second to the top in the free apps, next only to the Google Arts & Culture app that blew up over the weekend.
It works like this: users sign up and then hook up their smartphone’s health and fitness data and GPS location to the app. The app then tracks how many steps you take in a day and rewards you a monetary “sweat” value according to your movements. For every 1,000 steps recorded, the app will pay out .95 in “sweatcoins.” Users can later trade these coins in for fitness gear, workout classes, gift cards or trade it with a brand new iPhone X.
The app says you can only earn these coins by walking outside so it theoretically doesn’t count if you are walking on a treadmill at the gym, though the app on my phone seems to count steps inside my apartment, as well.
“We are out to fundamentally change the value ascribed to health and fitness and provide the motivation for people to lead better lives,” Fomenko said.
Those interested in checking out the app can download it on either iOS or on Google Play and start earning their sweat equity today.