Last Updated on January 27, 2023 by Bitfinsider
If you are looking to strike off your new year resolution of keeping fit, why not do it with Sweatcoin and earn cryptocurrencies while you’re at it? For those who have not heard of Sweatcoin, it is a highly anticipated cryptocurrency from the Sweatcoin Application, commonly also known as SWEAT.
As of Jan 27, 2023, the global cryptocurrency market cap is $52.21M with a +10.60% change in the last 24 hours. Furthermore, more than 100 million users have already downloaded this app, and it is trending in numerous countries’ App Stores.
What is Sweatcoin?
Sweat Economy (SWEAT), a move-to-earn (M2E) cryptocurrency project that uses web3 technology to reward and motivate individuals for moving, is a web3 version of the Sweatcoin App.
The first SWEAT tokens were released on 13th September 2022, at the Token Generation Event (TGE), during which Sweatcoin token holders may exchange their sweatcoins for SWEAT while keeping their sweatcoins.
The Buy and Burn release design is the foundation of SWEAT supply. The project issued 21 billion SWEAT tokens and burned 4.8 billion SWEAT during the TGE in order to lower the total supply of sweatcoins, which initially had 25.8 million.
The minting complexity for SWEAT has been intentionally increased over time by Sweat Economy in order to limit the available supply. For instance, 1000 steps at launch produced 1 SWEAT; however, in 2023, the same amount of steps will produce 0.33 SWEAT.
Getting started on Sweatcoin
The app is very straightforward to use as it works like any other regular fitness tracker out there in the market.
Here are 5 simple steps to guide you:
- Go to the official website, click Download App and download the app for your device
- Sign in to the app
- In the settings, give permission to track your activity and show notifications
- Walk, run and earn SWEAT
- You can choose to hold and stake SWEAT tokens on the Sweat Wallet app
How to buy or trade Sweatcoin on ProEX
On ProEX, you can trade SWEAT as a spot pair (SWEAT/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade SWEAT/USDT at ProEX Spot
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.