The official arrival of the SWEAT cryptocurrency has made a large number of Sweatcoin users have landed in the crypto world for the first time, which generates quite a few doubts for neophytes. When will I be able to collect my sweatcoins transformed into SWEAT ? This is one of the most repeated questions since the token generation event took place this week, which has converted all the coins accumulated in recent months into cryptocurrencies.
When accessing the SWEAT Wallet, the ad hoc application that has been created to manage everything related to the SWEAT cryptocurrency regardless of the Sweatcoin environment, we can see that not all functions are active yet. In its main menu, we see how SWEAT cannot be added or exchanged yet, which means that until now users who have this cryptocurrency will not be able to transform them into real money (or into another cryptocurrency) to collect them.
On the SWEAT Economy website, which explains all the details of how the SWEAT cryptocurrency works , there is a roadmap showing the plans of the developers for the next few years. As can be seen, until the third phase it will not be possible to exchange crypto for crypto, which may be the first step to end up transforming the accumulated SWEAT first into other cryptocurrencies and later into real money. This third phase will not arrive until 2023, without further details.
What can be done before, specifically between September and December 2022, will be to exchange fiat money (real money), to acquire more SWEAT . This exchange of euros (or the currency of common use of each user) for more cryptocurrencies will arrive in the second phase of the implementation of SWEAT, and it is expected to be available in the coming weeks or, at the latest, before the end of the year.
The only way to get something similar to a payment for the SWEAT available is by participating in the rewards program, a tool that is already operational in the SWEAT Wallet application . By clicking on ‘Rewards’, the user will be able to access raffles for Amazon, Adidas or Apple gift vouchers, a dinner with the founders or obtain NFT, but they will have to have previously deposited SWEAT in the Growth Jars that offer interest after a while.
How to know how many SWEAT I have
At the time of token generation, users who had the SWEAT Wallet configured received one SWEAT for each sweatcoin accumulated in the Sweatcoin app. Even so, it is common for users who used only Sweatcoin to wonder how to know how many SWEAT I have . To do this, you must download the SWEAT Wallet application (available free on Google Play and the App Store), and when you enter, the SWEAT number you have will appear.
Below that figure you will see how many SWEAT can be used , since we will not be able to use all of it, but only a small percentage to invest or transfer. This measure has been taken by the developers of the application and the cryptocurrency to avoid a runaway inflationary phenomenon in the first days of operation.
How to convert more Sweatcoins into SWEAT
Interested in how to convert more sweatcoins to SWEAT ? Today, there are few alternatives to achieve it. The first 5,000 steps that we take in the day will be converted directly into SWEAT (and less and less will be obtained for these steps), while the rest will increase our sweatcoins account. The developers of the application do not rule out that in the future a new direct exchange of sweatcoins to SWEAT can be made to increase the number of cryptocurrencies of each user, but for the moment, this is no longer possible after the token generation event of the September 13th.