How To Transfer Sweatcoin Money To Your Bank Account? Turning Sweatcoin into a bank is tough. Learn how to transfer Sweatcoin money to a bank account without the hassle.
Sweetcoin is a fitness app that allows you to earn money while doing exercises like walking, cycling, etc. However, when you have accumulated enough coins, you will need to transfer the 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 your Sweatcoin money to your bank account. To do this, you will need to redeem your Sweatcoin into PayPal rewards and then transfer them to your bank account.
At first glance, the process may be difficult but it is very easy if you follow the steps outlined in this guide. Having said that, 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 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 partner companies through an in-app marketplace.
The offerings of this market change at least once a day. It ranged from subscriptions to other wellness apps, like Calm (14.99 Sweatcoins), to high-tech things, like an iPhone XS and a curved Samsung TV, when I used the app (both 20,000 Sweatcoins).
You can donate Sweatcoins to charitable crowdfunding efforts if you’re feeling extra generous.
Sweatcoin, for now, only counts your outdoor steps. This means any indoor steps you take won’t count, like in the gym or at work, or if you have to descend 22 flights of stairs during a fire drill like I did last week.
However, the app did capture some of my steps when I was at home, which was a welcome addition to my total step count.
Can you transfer Sweatcoin to your bank account?
Unfortunately, Sweatcoin cannot be transferred to a bank account at this time. However, the company is working on a future solution that will allow users to do so.
Meanwhile, 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 transfer Sweatcoin money indirectly to your bank account by converting your Sweatcoins into gift cards, and then selling the gift cards for cash, which will be paid into your bank account.
How To Transfer Sweatcoin Money To Your Bank Account?
As mentioned earlier, Sweatcoin does not allow users to cash out their coins to their bank accounts.
However, there is an indirect way how to transfer Sweatcoins to your bank account, which involves three simple steps.
- Buy Gift Cards with your Sweatcoins.
- Sell gift cards for cash.
- Get paid through bank transfer.
Buy Gift Cards with your Sweatcoins
Although Sweatcoin does not let you cash out to your bank account directly, it does allow you to purchase gift cards or vouchers with your coins.
However, the platform only allows you to buy PayPal or Amazon gift cards from the marketplace.
To purchase Gift Cards with your Sweatcoins:
- Go to the Sweatcoin Market
- Select the option that allows you to purchase vouchers.
- Follow the instructions that appear on the screen.
Keep in mind that coupons are not always available. If so, I will recommend checking for availability later.
Sell gift cards for cash
Once you have purchased the vouchers, it is time to consider selling them for cash.
PayPal and Amazon gift cards are two popular options on the market, so you certainly won’t be short of someone to sell them to.
Fortunately, there are several gift card exchanges that allow you to convert your gift cards into cash.
You can post gift cards on forums like Reddit, Discord, and even Telegram to sell them faster.
Get paid through a bank transfer
When selling your gift cards, it’s always a good idea to select your payment method or check if the platform or the person buying the gift card can pay you with your preferred method.
With that said, since we’re looking to transfer money to a bank account, it’s crucial to check if the platform that buys the gift card can pay through bank transfer.
Most gift card exchanges usually pay with bank transfers.
However, if you purchased an Amazon Gift Card instead, here is a simple way to transfer your Amazon Gift Card balance to a bank account.
FAQ – How To Transfer Sweatcoin Money To Your Bank Account
Can I transfer Sweatcoin money to my bank?
You cannot transfer Sweatcoin money directly to your bank account, but you can transfer money indirectly.
How long does it take to transfer Sweatcoin funds to a bank account?
Normally, the time it takes to transfer Sweatcoin funds to a bank account is between 1 to 3 business days, though it can take longer (up to 5 business days) in some cases depending on some factors, which include;
- Coupon availability.
- Availability of redeeming gift cards.
- Bank availability.
How can I cash out my distressed money?
The best way to cash out your Sweatcoin is to redeem it on PayPal.
How do I convert Sweatcoin to USD?
You can convert Sweatcoin to USD through some exchanges like BeInCrypto. The conversion value of 1 SWEAT to USD is 0.011 USD.
Conclusion – How To Transfer Sweatcoin Money To Your Bank Account?
You can cash out Sweatcoin by purchasing goods and services or donating them to charities. You cannot transfer Sweatcoin to the bank directly. The only way to transfer Sweatcoin to your bank account is by converting the coins into gift cards and selling them for cash.