5 Reasons Why Cryptocurrency Launches Linked to Sweatcoin Will Revolutionize Fitness

5 Reasons Why Cryptocurrency Launches Linked to Sweatcoin Will Revolutionize Fitness

If you need the inspiration to boost your fitness, the launch of the official crypto linked to Sweatcoin might be what you need.

SWEAT officially launched on 13 September 2022, and $1 million worth of tokens were sold on Maker DAO prior to its market launch – marking a marked change from the platform’s initial in-app format.

The public sale involving SWEAT was attended by over 40,000 individuals, taking only 15 minutes to sell.

The accompanying SWEAT is a brand new sweat wallet app that offers advanced cryptocurrency wallet features involving NFT storage and staking. Importantly, the wallet has options for users to transfer, buy, grow and exchange the sweat accumulated.

5 Reasons Why Cryptocurrency Launches Linked to Sweatcoin Will Revolutionize Fitness
5 Reasons Why Cryptocurrency Launches Linked to Sweatcoin Will Revolutionize Fitness

What is the difference between Sweatcoin and SWEAT?

At its 2015 launch, Sweatcoin offered a concept ahead of its time. An app linked to the Health app to monitor actions taken by its owner throughout the day and rewarded in Sweatcoins, known as SWC within the app.

Back then it was not impossible to exchange SWCs for items listed on the Sweatcoin Marketplace, with discounts mostly for fitness products or durable goods.

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Even after growing its user base to around 110 million, Sweatcoin’s market often appeared somewhat limited in terms of the options available. However, the advent of SWEAT opens the door to much more functionality.

So, how can SWEAT help revolutionize fitness above the capabilities associated with its predecessor, Sweatcoin? Let’s take a look at the world’s most unique new crypto assets:

1. Building a Fitness Crypto Economy

Never before has run and walking been so rewarding. With this in mind, whoever makes a move using the Sweatcoin app is rewarded for their activity.

In the creation of a movement-based economy, Sweatcoin has decided to pay one Sweatcoin for every 1,000 steps. However, the company has taken some additional measures with the launch of its own cryptocurrency to protect the value associated with its coin by gradually increasing the level of work involved in claiming a new sweatcoin.

A breakdown of SWEAT payouts for 1,000 steps shows that rewards will drop significantly over the course of a year, with 1,000 steps being approximately 0.333 SWEAT by the year 2024, 0.19 SWEAT by 2025, and 0.02 SWEAT in 2031.

This means that although the number of steps associated with producing sweat will remain at 1,000 steps per sweat until 2024, the reward for steps will decrease over time.

This helps to ensure that markets are not flooded with SWEAT coins which helps to maintain their value, which is good news for the bustling digital market associated with Sweatcoin, where users can buy sports goods and health products. You can redeem your coins for diet plans.

2. Monetary Reward for Exercise

For the first time in Sweatcoin’s seven-year history, the arrival of a verified SWEAT cryptocurrency means that users have the ability to trade their earnings for other coins, which can eventually be redeemed under fiat money.

As we can see from CoinGecko’s chart for SWEAT, the asset launched in September 2022, briefly reaching an impressive opening price of just over $0.08, although it has dropped to around $0.027 at the time of writing.

While this may not represent a lot of return associated with the effort involved in taking 1,000 moves today, the coin’s increased functionality and underlying tokennomics mean that piling up more sweat could potentially prove to be an attractive investment.

Although the Sweat Wallet app has not yet enabled its built-in crypto exchange, it will eventually encourage users to use their SWEAT coins to exchange Bitcoin, Ethereum and various altcoins.

3. The value of your earnings is protected

Sweatcoin’s ambitions are made even more impressive given the ongoing downturn associated with the cryptocurrency market. Despite many altcoins losing their value, Fomenko believes that SWEAT will be immune to the volatility associated with similar levels.

One of the driving forces behind maintaining the value associated with SWEAT would be the burning of a coin, which is supposed to happen when cryptocurrencies are to be sent to a wallet that can receive coins but cannot spend them – effectively. removing them from the market.

With 137 million users and an estimated 26 million Sweatcoins on the day of the coin’s September 13 launch date, SWEAT will already be more able to circulate the supply than the likes associated with bitcoin, with approximately 19m BTC mined.

However, Sweatcoin committed to burning 4.5 million SWEAT at launch, helping to reduce the circulating supply. As of October 2022, Sweatcoin’s live counter shows that only 27.5m SWEATs were created, showing that more individuals are working to generate more Sweatcoins in this new cryptocurrency-based format.

Burning cryptocurrency can help ensure that a coin maintains sufficient scarcity to ensure that it maintains its value over time. To implement this form of tokenization, Sweatcoin can help maintain a stable value accumulation level for its assets over time.

4. Work your way into a thriving investment ecosystem

The platform offers a promise of 12% annual income for individuals who elect to label their SWEAT as a “Growth Jar” in the app.

Proof-of-Stake (PoS) blockchains use validators instead of miners, which help secure the network by staking a certain level of the original cryptocurrency on the chain.

This essentially helps lock them into cryptocurrency, which can then be used to validate transactions involving the blockchain.

Using the link to staking, Sweatcoin has opened its network to offer rewards to users who want to make investments linked to the coins they work to earn.

5. Embrace NFT and Crypto Donations

Another exciting development within the Sweatcoin Wallet app revolves around the optional functions the SWEAT service can offer – such as buying exclusive NFTs or donating to worthy causes.

Attached to the sweat wallet is its own dedicated section that can store non-fungible tokens, and the NEAR wallet functionality means that NFTs can be sent and received inside the app. In addition, Sweatcoin indicates that it is ready to adopt NFTs in the future by including non-fungible token reward draws in the app’s marketplace. Along with writing, Sweat Economy has partnered with Paras to offer users a whopping 888 NFTs in a special prize draw for users interested in betting their coins.

Alternatively, Sweatcoin has often given its community the opportunity to donate its earnings to charitable causes such as sustainability projects and humanitarian disaster appeals.

Sweatcoin: A Health Conscious Rewards Ecosystem

While the emergence of the newly dubbed “sweat economy” is still in its early stages, early signs point to a vibrant earning ecosystem with a growing range of investment and spending options for the 137 million-strong user base. Should SWEATs fulfill their potential, the work involved with adopting exercise has never been so rewarding.

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