Sweatcoin Review: Is Sweatcoin Legit or a Scam? How Much Did I Make?Make Money Fast
Money Done Right does not accept sponsorships to promote particular products or services. However, we may receive a commission if you purchase or sign up through links on this page. Here's more information about how we make money.
I’ll admit that I was skeptical that I could actually make money walking with the Sweatcoin app. Surely it must be a scam, right?
Something that pays you to do something as simple as walking can’t be legit, can it?
Is Sweatcoin Legit or a Scam?
Well, good news: Sweatcoin is not a scam.
You will get paid to walk, but you should not have unreasonable expectations.
You will make some money, but it’s not like you will be making hundreds of dollars a day simply by walking.
How Much Have I Made With Sweatcoin?
How much you can make with Sweatcoin depends on how active you are.
Now, I don’t know how active you are. I don’t know if you’re a marathon runner or someone who barely gets off the couch.
So I can’t tell you how much you’ll make with Sweatcoin, but hopefully you’ll be able to figure that out after you see how I break down how much I’ve made with Sweatcoin.
In 3 Months, I Made About 600 Sweatcoins.
One of my resolutions this year was to walk at least 5,000 steps a day.
This is when I downloaded Sweatcoin to inspire me to reach this goal.
Since the beginning of the year, I’ve actually averaged about 7,500 steps a day.
So as of the time of writing at the end of March, I’ve made 602.66 Sweatcoins and averaging about 7,500 steps a day.
Sweatcoin sounds like a scam but it's completely legit! The app allows you to earn free money out of something you are already doing and it helps you become healthier.
We earn a commission on this offer.
This Is Worth Either $30 or $8, Depending On When I Cash Out.
So how much are my 602.66 Sweatcoins worth?
Well, let’s do some quick math.
There are two ways to convert Sweatcoin into PayPal cash, and each of these ways yields a different value for Sweatcoin.
If I Cash Out Early, Then I’ve Made $8.
So if I wanted to cash my Sweatcoins out relatively quickly, I wait until I have 3,650 sweatcoins saved up, when I could exchange them for $50 cash via PayPal.
If you divide $50 by 3,650 Sweatcoins, this means that each Sweatcoin is worth about $0.0137 each.
If I multiply my 602.66 Sweatcoins by $0.0137, I get $8.26.
So if I’m planing on cashing out my Sweatcoins in the next year, you could say that I made $8.26 from Sweatcoin in a few months.
If I Wait to Cash Out, Then I’ve Made $30.
Have you ever heard the expression, “Good things come to those who wait”?
Well, it’s certainly true when it comes to Sweatcoins, because you can over triple the value of your Sweatcoins if you are willing to wait to cash out.
See, in addition to the 3,650 Sweatcoins for $50 option, there is also the option to exchange 20,000 Sweatcoins for $1,000.
If you divide $1,000 by 20,000 Sweatcoins, this means that each Sweatcoin is worth about $0.05 each.
If I multiply my 602.66 Sweatcoins by $0.05, I get $30.13.
So if I’m planing on waiting a few years to cash out my Sweatcoins — or just become a lot more active than I am today — you could say that I made $30.13 from Sweatcoin in a few months.
So Is Sweatcoin Worth It?
Yes, for me, Sweatcoin is certainly worth it.
I am getting paid to do something — walking — that I would do anyway.
You Really Do Make Money for Walking.
Believe it or not, you do get paid for walking with Sweatcoin.
In my opinion, this makes the Sweatcoin app definitely worth it!
You Also Become Healthier!
I know that Sweatcoin has helped me become healthier.
See, I’m really into personal finance. Money’s kind of my thing. I like making money, I like saving money, and I like investing money for passive income.
And my financial goals sometimes get in the way of my health goals. Lots of the time I would rather spend my time working on this blog or on other ways of making money than on my health by exercising.
But Sweatcoin has helped to inspire me to exercise more because I know that when I’m out walking or running, I am also in some small way making more money.
Logan is a practicing CPA, Certified Student Loan Professional, and founder of Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Learn more about Logan.