Sweatcoin: The app that pays you to get fit
Finding the motivation to keep fit is a universal struggle, but what if you were paid to exercise? That’s the idea behind Sweatcoin, a free app that turns your steps into digital currency. Russian fitness fanatics Oleg Fomenko and Anton Derlyatka came up with the idea in 2015 when Fomenko had lost the motivation to work out after his previous startup went under. The London-based pair, both in their 40s, realized the problem with getting people to exercise is the human tendency to prioritize immediate pleasure over long-term gain. In 2016, they founded Sweatcoin. The app pays users 0.95 sweatcoins for every 1,000 steps they take outdoors. That digital currency can be traded for fitness gear, giftcards and workout classes in the app’s marketplace. About 20,000 sweatcoins — that’s just over 21 million steps — can be exchanged for an iPhone X. Some users have complained, though, that it can take a long time to accrue enough sweatcoins to purchase the more appealing items — and that sometimes the ones they’re really interested in have disappeared by the time they reach the required amount.
appealing – attractive or interesting
Remember to click “cc” to see the subtitles.
transferable – (especially of financial assets, liabilities, or legal rights) able to be transferred or made over to the possession of another person