One of the most repeated questions from Sweatcoin users is how to withdraw and collect real money from SWEAT Wallet. The expected arrival of the SWEAT cryptocurrency has already become official and a large percentage of people who accumulated sweatcoins in recent months were able to convert the application’s own currency into a theoretically operational cryptocurrency, but after downloading the new SWEAT Wallet app many They are discouraged to see how the room for maneuver is rather scarce in this first contact with the crypto world.
At this time, it is not possible to withdraw our SWEAT balance to convert it into euros or other cryptocurrencies . Although this function was one of those that was announced at the time, it is not yet operational within SWEAT Wallet, an application that has already been downloaded by 13 million users if we look at the information collected on the SWEAT Economy website.
Within that website, the roadmap that will be followed with the new cryptocurrency is reflected. Users who have activated their wallet to convert sweatcoins into SWEAT or who want their steps to be converted into SWEAT will not be able to exchange them for other cryptocurrencies or other assets until at least 2023 , when the third phase of said plan has been reached. If we click on ‘Exchange’ today to exchange or withdraw SWEAT, we will find a message that promises that the time will soon come to exchange the cryptocurrency for other assets.
Where can I buy with SWEAT
But then, where can I buy with SWEAT ? At the moment the operability of the SWEAT Wallet application is quite limited, but it is possible to participate in the rewards system that is offered. By clicking on the ‘Rewards’ button found in the lower menu bar, you can see the different active draws (in no case can you make any purchase with SWEAT directly).
The rewards available are very varied , some with extremely sweet prizes and others more ‘earthly’. Among the most powerful, we can mention the possibility of getting tickets for the next World Cup that will be played in Qatar in November and December or the draw of an ethereum, a cryptocurrency valued at the time of writing this article at more than 1,300 euros. Of course, SWEAT’s payment to participate in these draws is more expensive than other more modest ones.
Those who don’t want or don’t have enough SWEAT to enter sweepstakes have the option to enter the sweepstakes for NFTs (the SWEAT Wallet app will add its digital art collection in the coming weeks) or $5 vouchers to spend on Amazon .
How much real money do I have in my SWEAT Wallet?
The large number of cryptocurrencies present in the market today makes it very confusing to know what the real value of each one is beyond bitcoin or the most popular ones. To know how much real money I have in my SWEAT Wallet we will have to use a web page that shows the current market value of the SWEAT cryptocurrency.
At the time of writing this article, the Coinbase portal reflects that the value of a SWEAT stands at 0.0487 euros, so a person who has 1,000 SWEAT accumulated will have 48.7 euros . Its official launch took place on September 13, and in its first week of life it has already suffered a devaluation of 39.27%. The limitations of users when it comes to using their entire SWEAT balance (measure to combat a potential inflation of the cryptocurrency, according to its developers) and the lack of activities that can be carried out in the app have generated some discouragement in those who trusted in being able to withdraw it and turn it into real money soon.