SweatCoin (SweatCo.in) is a trending fitness app that allegedly compensates users to walk and stay active that was registered on June 28th, 2014 by an entity known as Oleg Fomenko.
Sweat Coin functions as an Android and Apple health app that autonomously tracks their users steps and activity and renders compensation in the form of their currency, SweatCoins, to their users.
According to the app, every 1,000 outdoor steps equates to a value of 0.95 sweat coins while a starting cap of $5 per day can be accrued with their free version. In addition, their app employs a disclaimer that states that users generally only receive 65% credit for their steps while an additional 5% fee is imposed on all the credit that is accumulated.
It should be noted that Sweat Coin is not an app that will deliver a user substantial profits, in fact, mathematically speaking, it typically takes a user several months to years to redeem a $50 gift card through their accumulated Sweat Coins.
A user example we found in the mobile marketplace is as follows:
A user can earn a max of 5 per day, capping towards an average of 150 sweat coins per month. Their gift cards start at 3,650 which equates to a period of just over 2 years to earn a gift card. Secondly, an iPhone X is set at 20,000 sweat coins, which equates to a time period of just under 11 years.
As mentioned, the Sweat Coins health app isn’t a great compensator for a users time, especially if they are going out of their way to try and maximize sweat coin earnings.
According to their domain, Sweat Coins is operated by a corporate entity known as SweatCo Ltd and reflects a company number of 09242159. As stated at CompaniesHouse, SweatCo Ltd has a registered office address of C/o Ohs Secretaries Limited, 9th Floor, 107 Cheapside, London, EC2V 6DN and was incorporated on September 30th, 2014.
Sweat Coin delivers an interesting and peculiar operation that has caught many consumers attention and gone viral. Functioning as a health app, Sweat Coin has a respectable concept but fails to deliver big for their users.
According to the online marketplace, Sweat Coin reflects a 3.8 average user rating out of over 15,000 ratings. Among the chief complaint filed against this app would be the exceptionally low compensation along with the inability to establish contact with their customer support team or receive their redemptions.
Rip-off reports have also started to trend against Sweat Coin creating the question of whether this app is worth it or not.
While Sweat Coin offers a unique and empowering concept, the turn around period is borderline outrageous, which we believe could be used more wisely to pursue more lucrative ventures.
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