Sweatcoin to US Dollar

Performance of Sweat Economy (SWEAT) since its launch:

• Launch Date: Sweat Economy launched on September 13, 20221.
• Initial Performance: It started trading at $0.05101, rose to a high of $0.09257, and then settled at $0.05629 on the launch day1. The price peaked at $0.09188 the following day but then experienced a decline1.
• Yearly Performance: 
  • 2022: The price dropped by -83.00% from $0.060058 to $0.0102112.
  • 2023: The price of SWEAT increased by 10.89% from $0.010211 to $0.0113232.
  • The average yearly growth over the last 3 years is -36.06% per year2.
• Current Price: As of the latest data, SWEAT is price at Kucoin
• Market Cap: The current market capitalization stands at $66,920,8903.
• Trading Volume: The 24-hour trading volume is reported to be $7,177,5203.
• Supply Details: 
  • Circulating Supply: 7,785,471,656 SWEAT tokens.
  • Total Supply: 21,539,898,437 SWEAT tokens.
• User Adoption: Sweat Economy has more than 10 million wallets created and has attracted 2.1 million monthly active wallet users, with 1 million carrying out on-chain activities4. In total, all users have minted more than 4.18 billion steps, earning 1.6 billion SWEAT tokens4.

Sweat Economy aims to incentivize physical activity by rewarding users with SWEAT tokens for their steps. It’s unique in that it requires no initial capital and is free to use, making it accessible to a broad audience.

Residents of 7 countries including the United States participated in a token distribution event and were rewarded Sweat crypto tokens proportionally with the Sweatcoin they have earned.  There is still a challenge trading Sweat to USD as a US citizen. You can always exchange your Sweat on a DEX but we will not be covering that. We will focus on Coinbase, Binance and Kucoin, which tend to be much more user friendly and more suited to our club member needs. Remember you are not trading Sweatcoin to US Dollar. Sweatcoin is a cybercurrency used exclusively in the Sweatcoin App. The trade-able cryptocurrency is the Sweat crypto token ($Sweat).

To participate in any Sweat trading the 1st thing you  must do is install Sweat Wallet and link your Sweatcoin App. From there you will need an account on a crypto exchange to turn your Sweatcoin to fiat currency. Most wallets will let you exchange Sweat for Etherium or other cryptos.

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(archive Aug. 23) US residents are still unable to earn Sweat tokens but can continue to earn Sweatcoin that are exchanged for offers in the app marketplace. Sweat to USD is enabled on exchanges outside of the United States. 

There is quite a bit of bad information online regarding SWEAT to USD conversion. Most of the bad information are the large crypto quoting sites that are all looking to get a jump on the competition as far as search results go. With 40 million wallets there are huge expectations for the launch of SWEAT on the NEAR blockchain will be a kickstart back to growth in blockchain and web3 usage.

Currently any instant quote you see offered online is a made-up number and you will most likely never see that price for a real SWEAT to US Dollar exchange. The reason being that the SWEAT token does not currently exist, it will not be distributed by the Sweat foundation until September 12, 2022. Once the coin is distributed and picked up by exchanges, only then can we get a true public market price. Since no one owns any SWEAT as of today, purchases and sales of Sweatcoin are the only transactions currently happening and those are private transactions like the ones we help connect at Sweatcoin Club. We can offer a Sweatcoin to US Dollar quote because of our experience in the crypto markets and with these private transactions. After the token distribution event of the SWEAT token we will be able to trade on an exchange and be given a proper liquid market quote.

Users outside the US should create a Sweat wallet in the app. You will be required to fill out a KYC (know your customer) form for the Sweat foundation to send you your new tokens. You must have this completed prior to the exchange date. After that date you will not receive your sweat tokens.

To convert crypto to US dollars, you will need to use a cryptocurrency exchange or trading platform that supports this type of transaction. These platforms allow users to buy and sell different types of cryptocurrencies, including Bitcoin and Ether, using various payment methods, including US dollars.

To convert crypto to US dollars, you will first need to create an account on a cryptocurrency exchange or trading platform. Once your account is set up, you can deposit funds in US dollars into your account. You can then use these funds to buy the cryptocurrency of your choice. Once the transaction is complete, the cryptocurrency will be added to your account, and you will be able to withdraw it or use it to make purchases.

It's important to note that the value of cryptocurrencies can fluctuate rapidly, so the value of your crypto may change between the time you buy it and the time you convert it back to US dollars. Be sure to carefully research the current market value of the cryptocurrency you're interested in before making a purchase. 

Sweatcoin is a digital currency that users earn by walking or engaging in physical activities, and it can be exchanged for various goods and services through the Sweatcoin app ecosystem. As such, trading strategies for Sweatcoin are somewhat limited compared to traditional cryptocurrencies like Bitcoin or Ethereum. However, here are some approaches users might consider within the context of Sweatcoin:

1. Accumulation Strategy: Instead of actively trading Sweatcoin, some users may choose to accumulate it over time by consistently engaging in physical activities tracked by the app. This strategy focuses on increasing the overall balance of Sweatcoin in one's account, which can later be redeemed for rewards or converted into other forms of value.
2. Strategic Redemption: Users can strategically redeem their Sweatcoin for rewards based on their preferences and needs. This could involve monitoring the available offers within the Sweatcoin app and selecting rewards that offer the highest value relative to the amount of Sweatcoin required. Timing redemption based on promotions or discounts may also enhance the value of Sweatcoin.
3. Arbitrage Opportunities: While less common, there may be opportunities to arbitrage Sweatcoin by exchanging it for goods or services within the Sweatcoin ecosystem and then reselling those items for a profit outside the platform. This strategy requires careful consideration of transaction costs, market demand, and the resale value of redeemed items.
4. Marketplace Trading: Some users may engage in peer-to-peer trading of Sweatcoin within online marketplaces or forums. This could involve buying Sweatcoin from other users at a discounted rate or selling it at a premium, depending on supply and demand dynamics. However, caution should be exercised to avoid scams or fraudulent transactions.
5. Investment in Partner Companies: Sweatcoin occasionally partners with other companies to offer exclusive rewards or promotions. Users may consider investing in these partner companies if they believe in their long-term potential, viewing Sweatcoin rewards as a form of equity or discounted access to products and services.
6. Community Engagement: Engaging with the Sweatcoin community can provide insights into new features, updates, and potential opportunities related to the platform. Users may participate in forums, social media groups, or official channels to stay informed and collaborate with other members on various initiatives.

Overall, while trading strategies for Sweatcoin are not as diverse or complex as those for traditional cryptocurrencies, users can still optimize their use of the platform by strategically earning, redeeming, and interacting with the Sweatcoin ecosystem.

Here’s a quick guide for you to transfer SWEAT (reprint from official Sweat Discord)
 

**Sending:**
• Simply open your app and head into the “transfers” button
• Here, you can enter a **NEAR (NEP-141) Wallet address**, or your friends @username!
 

•• You may want to transfer to an exchange. You should head to any of the  CEX’s that support SWEAT and NEAR, then create an account - they have  some nifty guides already!
• After this, simply copy the address they provide and head back to the Sweat Wallet app.
• Go to transfers, paste the address and send away!
**As always, make sure that it is the correct address… once you send SWEAT, we can’t get it back!**
 

**Receiving from exchange:**
• Open the Sweat wallet app and head into “transfers”
• Select “Receive”
• Copy the wallet address
• • This is **NEAR (NEP-141)** only!
• Paste this into your withdrawal section on the exchange
• •The exchange will have some guides for extra help!