▶ When will I be able to collect my sweatcoins transformed into SWEAT
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The official arrival of the SWEAT cryptocurrency has meant that a large number of Sweatcoin users have landed in the crypto world for the first time, which raises many doubts for neophytes. When can I redeem my sweatcoins transformed into SWEAT? This is one of the most frequently asked questions since the token generation event took place this week, converting all the coins accumulated in recent months into cryptocurrencies.
When accessing SWEAT Wallet, the ad hoc application that has been created to manage everything related to SWEAT cryptocurrency regardless of the Sweatcoin environment, we can see that not all the functions are active yet.In its main menu, we see how SWEAT cannot yet be added or exchanged, which means that so far users who have this cryptocurrency will not be able to transform them into real money(nor in another cryptocurrency) to collect them.
On the SWEAT Economy website, which explains all the ins and outs of how the SWEAT cryptocurrency works, there is a roadmap showing the developers' plans 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 earlier, specifically between September and December 2022, will be to exchange fiat money (real money), to acquire more SWEATThis 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 that it will be available in the coming weeks or, at the latest, before end of the year.
The only way to get something similar to a charge for the SWEAT available is by participating in the rewards program, a tool that is already operational in the SWEAT Wallet app. By clicking on 'Rewards', the user will be able to access draws for Amazon, Adidas or Apple gift vouchers, a dinner with the founders or obtain NFTs, but they will have to have previously deposited SWEAT in the Growth Jars that offer interest after a while.
How to know how much SWEAT I have
At the time of token generation, users who had configured the SWEAT Wallet received one SWEAT for each sweatcoin accumulated in the Sweatcoin app. Even so, it is common for users who only used Sweatcoin to wonder how to know how many SWEAT I have To do this, you have to download the SWEAT Wallet application (available for free on Google Play and the App Store), and upon entering the number of SWEAT available will appear.
Below that figure you will see how many SWEAT can be used, since we will not be able to use all of them, but only a small percentage to invest or transfer This measure has been taken by the developers of the application and of the cryptocurrency to avoid a runaway inflationary phenomenon in the first days of operation.
How to turn more Sweatcoins into SWEAT
Interested in how to turn more sweatcoins into SWEAT? Today, there are few alternatives to achieve it. The first 5,000 steps that we take in the day will be converted into SWEAT directly (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 carried out 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.
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