So if your like me and I'm sure that you are and that it is why you are on Steemit. You will jump at the chance to make free or low cost cryptocurrencies. This is how I came to stumble upon Sweatcoin, that and the Blockfolio servers being down. It popped up in the Apple App Store when typing the word "crypto". They advertised that you can earn crypto for just walking! They have since changed the language that you will get paid in "their currency". A simple search however will show how it was advertised as a cryptocurrency.
I figured I would at least check it out, because I do try to walk at least an hour a day to keep active. Being into crypto I quickly went over to Coin Market Cap to check out what this coin has done recently. Not finding it there was my first clue this was not a real cryptocurrency. A quick check of their website and no white paper, although it did look trendy like most cryptocurrency websites.
Well maybe the App will be worth it and I can earn money to spend on real crypto? Also not the case! Like most money making Apps the time spent versus the reward is very high/low. Meaning meaning tons of time wasted and little reward.
They pay you .95 sweatcoin for every 1,000 steps taken. So an active person(based on my other walking app) who walks about 10,000 steps a day. You could earn 9.5 sweatcoins a day, but that's spending some sweatcoin to upgrade to be able to collect that much. Based on the current rewards this will pay you about $50 a year or $1,000 every six years. Yes this math is correct, as you can see here..... 
Overall this App is like most other Apps harvesting your personal data and giving you little to nothing in return. This is why I like the idea of Steemit and Tron so much. The idea of getting paid for content you create. I have heard Tron will pay people for internet searches. Which is currently given free to Google(by any user that uses it, I use DuckDuckGo) and then sold to marketers.
Also they are just taking advantage of the surge of interest in cryptocurrencies. One thing I can say in their defense is that they want to make a blockchain eventually and have their coin be traded on exchanges. My only question is what will happen to the current coins? If you make a blockchain but already have a coin supply, how would you integrate the old coins to the new blockchain?Here is a screen shot with the cofounder stating that. Interview is from TechCrunch linked below.
https://techcrunch.com/2018/01/17/sweatcoin-lets-you-earn-crypto-for-working-out/
Overall the App was a little deceiving and doesn't really pay out much so I will be deleting from my phone. This may not be the case for all use, more just my personal opinion. Maybe one day if they make a blockchain and become a real cryptocurrency I will re-download the App.....
That's pretty funny. I guess this is what happens when crypto gets big(ish). Things will pop up that prey on people who haven't done enough research.
Good post.
Right! People thinking they are making cryptos and they aren't!
hola! I like your post! Thanks for it! I went to jail because of cryptos... lets make steemit together to a better place with our content! I would like to read a bit more about you and maybe do you have some more pictures? I also just wrote a introduce yourself. Maybe you upvote me and follow me swell as I do? https://busy.org/introduceyourself/@mykarma/1-jail-review-bitcoins-3-years-ago
Jail for cryptos? Sounds Bad!
It definitely is a pain trying to collect sweatcoins consistently but i did some digging and found this on the app itself.
This review of kucoin features it's key function and other functionalities of kucoin. for more info just click the link and enjoy. https://blockonomi.com/kucoin-review/
Well, the idea of Sweatcoin is interesting. While mining of bitcoin requires great electricity capacity, Sweatcoin allows you mining when you are walking around. However, Sweatcoin isn’t cryptocurrency but a digital currency. It doesn’t have blockchain, but it’s possible to buy goods with the coins. The plans of developing a blockchain for Sweatcoin and its listing to the crypto exchanges are still the plans. They don’t even mention when it will happen. Although the app can motivate people to track the steps to convert into digital currencies, the fact that it collects the personal information and other disadvantages you mentioned don’t speak in favor of Sweatcoin.
I found a lot more info about Sweatcoins from this site
I was quite helpful