Like most investors, I first became interested in cryptocurrency with the aim of earning some money. I hit the market in late 2017, when Bitcoin first hit $ 20,000, hoping to increase my savings. But, unlike my fellow investors at the time, I had a hard time giving up a ticket to buy cryptocurrencies.
Like many savers, I was extremely risk averse. Put simply, I had a hard time investing money to generate profit in return. To recover cryptocurrencies without risking losing my euros, I started looking for alternatives to traditional investments.
Also read: Paying for your car in cryptocurrency is now possible in France
Earn cryptocurrencies without investing money
First, I invested part of my savings in loan solutions. On platforms such as Crypto.com or Binance, it is possible to immobilize stablecoins, currencies whose price is stable, and collect profits. It is exactly like bank interest, although the rates offered are more attractive. During last year’s bull run, some services were able to earn more than 10% on some cryptocurrencies. Despite the collapse, rates remain well above bank rates. It is obviously more risky.
At the same time, I kept looking for other solutions to earn cryptocurrencies without losing euros. I was particularly interested in the progress of Play to earn (“Play to win” in French). Based on the blockchain, these video games offer to win cryptocurrencies by playing. Despite good discoveries, like Axie Infinity, I didn’t get hooked on blockchain games. Rather, I was looking for a more passive solution than an active one.
The move to gain trend
It was then that I heard about the Move to earn (“Move to Win” in French) a sports variant of Play to Earn. Specifically, these applications remunerate their users in cryptocurrencies according to the steps recorded through their smartphone. The more you walk, the more digital assets you will collect! These applications also aim to encourage physical exercise.
During the explosion in the value of cryptocurrencies last year, some users have earned astronomical sums thanks to Move to earn. One application was particularly successful in seducing internet users interested in cryptocurrencies, StepN. Some users on Twitter claimed to raise thousands of dollars just by walking or running. It’s tempting, right?
The Obligatory NFT Obstacle
After installing the StepN app, I quickly became disappointed. Because in order to be able to collect cryptocurrencies by walking, you must first invest. The application forces users to purchase … a virtual shoe in the form of a non-fungible token (NFT) on the blockchain.
The prices were also quite high. It took several hundred dollars to get a digital basketball. Of course, it all depended on the price of the cryptocurrencies at the time of purchase. Despite this obstacle, I have long thought about taking the plunge and investing in a sneaker. After all, many internet users have managed to pay off their investment in a few weeks by walking or running.
On Twitter, I even came across a plethora of investors who have designed dedicated repayment plans for StepN. The goal of these plans was to quickly generate enough cash to recoup its initial stake. Once this is done, the user could then start earning profits. As part of these strategies, it was enough to take into account the price of the chosen basket and the price of the cryptocurrencies offered (GST / GMT). The user thus discovered the number of steps he had to take each day to be reimbursed.
As expected, user profitability finally plummeted as the cryptocurrency market entered a new bearish phase. Suddenly, the astounding crops were reduced to dust. I had missed the target.
I started looking for other applications of the type Move to earn. In the wake of StepN, many projects had emerged. Unfortunately, purchasing an NFT has acted as a barrier to entry into many apps. This is the case, for example, of Fitmint or Step, clones of StepN.
Note that some apps use video game codes, with missions to complete and challenges provided by the community. If you are tempted, we advise you Dustland Runner. Often, these applications suffer from a cluttered interface and a wide range of unnecessary features. For my part, I was looking for simplicity.
App without initial investment
Eventually I came across Move to earn well designed, simple and that do not require the purchase of a pair of virtual sneakers. This is the case with Sweata project that existed long before the trend was born.
Like StepN, SweatCoin rewards its users based on the steps taken. Initially, the application paid its users with a token that can be exchanged for goods or services. An online store allows you to buy products or get discounts on others. The project had nothing to do with cryptocurrencies or blockchains.
Faced with the rise of cryptocurrencies, the SweatCoin teams launched their cryptocurrency, Sweat, in September 2022. All tokens earned by users can be converted to Sweat through a dedicated application, Sweat Wallet. On this digital wallet, you can earn interest by blocking your sweatshirts for a specific period. At the same time, it is always possible to exchange your earnings for items or discounts.
Don’t expect to make a fortune by collecting Sweatshirts, even if you run for several hours every day. We are far from the returns offered by StepN. However, your earnings allow you to enter contests whose prizes are sometimes attractive. The application offers for example to win more than 12,000 USDT, or 12,000 dollars.
Finally, I also discovered an application that allows you to earn Bitcoin directly, sMiles. Very simple, it rewards you with satoshi, the smallest fraction of Bitcoin, based on your steps. You can easily transfer your earnings to an external wallet. Again, don’t expect a fortune. In a week, sMiles makes me earn an average of 50 satoshi, that is… 0.00988 euros.
As you will have understood, it is in fact possible to earn some money just by walking. However, you will not raise a fortune in cryptocurrencies. Magic money does not exist, although some would have us believe.