Sweetcoin is one of the fitness apps that let you earn money while doing exercises like walking, biking etc. However, when you've accumulated enough coins, you will want to transfer Sweatcoin money to your bank account.
As of now, there is no direct way to transfer Sweatcoin money to your bank account? However, there is an indirect way to transfer Sweatcoin money to you bank account. To do that, you will need to redeem your Sweatcoin to PayPal rewards and then transfer it to your bank account.
At a first sight, the process can be tricky but it is very easy if you follow the steps outlined in this guide.
That said, in this article, I will show you how to transfer Sweatcoin money to your bank account.
Table of Contents
What is Sweatcoin?
Sweatcoin is a fitness app that tracks your steps and rewards you with 'Sweatcoins,' a form of quasi-cryptocurrency, for every 1,000 steps you take.
Sweatcoins cannot be transferred to a bank or PayPal account. Sweatcoins, on the other hand, can be used to purchase goods, services, and experiences from partnered businesses through an in-app marketplace.
This marketplace's offers change at least once a day. They ranged from subscriptions to other wellness applications, such as Calm (14.99 Sweatcoins), to high-tech things, such as an iPhone XS and a curved Samsung TV, when I used the app (both 20,000 Sweatcoins).
You can donate your Sweatcoins to charitable crowdfunding efforts if you're feeling more generous.
Sweatcoin, for the time being, only counts your outdoor steps. This implies that any indoor steps you take won't count, such as at the gym, at work, or if you have to descend 22 flights of stairs during a fire drill, like I did last week.
Nonetheless, the app did pick up some of my steps when I was at home, which was a welcome addition to my overall step count.
Can You Transfer Sweatcoin to Your Bank Account?
Unfortunately, Sweatcoin cannot be transferred to a bank account at this moment. However, the company is working on a future solution that will allow users to do so.
In the mean time, the Sweatcoin money can be used in a variety of ways, including exchanging it for goods and services or donating it to charity.
However, you can indirectly transfer Sweatcoin money to your bank account by converting the Sweatcoins to gift cards, and then selling the gift cards for cash, which will be paid to your bank account.
How To Transfer Sweatcoin Money To Your Bank Account
As mentioned earlier, Sweatcoin does not allow users cashout their coins to their bank accounts.
However, there's an indirect way to transfer your Sweatcoins to your bank account, which include three simple steps.
- Purchase gift cards with your Sweatcoins.
- Sell the gift cards for cash.
- Get paid through bank transfer.
1. Purchase Gift Cards With Your Sweatcoins
While Sweatcoin does not let you cashout to your bank account directly, they, however, let you purchase gift cards or vouchers with your coins.
To purchase gift cards with your Sweatcoins:
- Go to Sweatcoin's marketplace
- Locate the option that lets you buy vouchers.
- Follow the on-screen instructions.
Keep in mind that vouchers aren't always available. If that's the case, I'll recommend checking its availability later.
2. Sell The Gift Cards For Cash
Once you've bought the vouchers, then its time to consider selling them for cash.
PayPal and Amazon gift cards are two popular options on the market, so it's a certainty that you won't lack who to sell it to.
Thankfully, there are many gift card exchanges that let you convert your gift cards into cash.
You can postulate the gift cards on forums like Reddit, Discord, and even Telegram to sell them even faster.
3. Get Paid Through Bank Transfer
When selling your gift cards, it is always good to specify your payment method, or check whether the platform or person buying the gift card can pay you through your preferred method.
With that said, since we're looking to transfer the funds to a bank account, it is crucial to check whether the platform that buys the gift card can pay through bank transfer.
Most gift card exchanges usually pay through bank transfer.
However, if you bought an Amazon gift card instead, here's a simple way to transfer Amazon gift card balance to a bank account.
How Long Does It Take To Transfer Sweatcoin Money To Bank Account?
The time it takes to transfer Sweatcoin money to bank account is usually between 1 to 3 business days, though it might take longer (up to 5 business days) in some cases depending on some factors, which include;
- Voucher availability.
- Gift card exchange availability.
- Bank availability.
Frequently Asked Questions
Can I transfer sweatcoin money to my bank?
You cannot directly transfer Sweatcoin money to your bank account, but you can transfer the funds indirectly.
How do I cash out my sweatcoin money?
The best way to cash out your Sweatcoin money is by redeeming it to PayPal.
How do I convert Sweatcoin to USD?
You can convert Sweatcoin to USD through some exchanges like BeInCrypto. The conversion value for 1 SWEAT to USD is 0.011 USD.
You can Cash out your Sweatcoin by purchasing goods and services or donating it to charity. You cannot directly transfer Sweatcoin to bank. The only way to transfer Sweatcoin to your bank account is by converting the coins to gift cards and selling them for cash.