Can You Monetize Your Fitness?
I briefly covered some ways social applications that work with blockchain technologies and how you can earn money from them, but today I want to get specific.
Where exactly should you go to earn money and the ways you can earn money when it comes to monetizing your fitness with cryptocurrency?
Sweatcoin - Own currency (not a real cryptocurrency though) 1,000 steps are worth 0.95 Sweatcoin. You can upgrade for 4.75 Sweatcoin a month which you could effectively earn in one day. It's not publicly traded so you have to redeem through their point redemption, you could earn $50 a year or $1000 every 6 six years. It's not really a cryptocurrency, but a way to earn if you're walking regardless. Requires phone verification.
Lifecoin - Own currency (not a real cryptocurrency though) Also rewards 0.95 Lifecoin per 1,000 steps and caps at 5 points per day. To upgrade how much you can earn it's $10 a month. Lifecoin earns steps faster than Sweatcoin and is also not publicly traded, thus not a legitimate cryptocurrency. Requires phone verification.
GYMRewards – This uses a real cryptocurrency on the EOS network though it requires you to buy an external third-party device that monitors your heartbeat for better-verified earnings. I’m sure it’s not that much different from Sweatcoin and Lifecoin in execution. I noticed they let you pay monthly in USD for the ability to earn more. The tokens are called GYMS, but unfortunately, they aren’t traded publicly on any exchanges. I don’t recommend this.
Lympo – This has a real cryptocurrency called LYM and it is tradeable on many exchanges. Currently, they are worth $0.0082 each in USD. Though it has its cryptocurrency in check, the app is full of issues. Half of the reviews claim they need to reinstall with every use, and it isn’t compatible with my phone for some reason.
Actifit https://actifit.io/ - This pays you in a real cryptocurrency you can instantly make money from; Steem. This is a decentralized application for Steem but is available on mobile under Actifit Fitness Tracker. To redeem your points, at the end of the day you just need to post on Steem via your account the number of steps you recorded for that day and the company will upvote your post to reward you in Steem which you will then receive 7 days later (that's how the Steem rewards model works).
There may be others, but I presume they would have similar issues the various application we have reviewed. It seems Actifit is the only viable solution though it is the most challenging to get started on. I do think putting in that time and effort is worth it though!
Share your thoughts and any similar dapps you use in the comments below!
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