Like most investors, I initially became interested in cryptocurrency with the aim of earning some pennies. It hit the market at the end of 2017, when bitcoin Hit $20,000 for the first time, hoping to boost my savings. But, unlike my fellow investors at the time, I had a hard time giving up a ticket to buy cryptocurrency.
Like many savers, I was very risk averse. Simply put, I had a hard time investing money to make a profit in return. To recover cryptocurrency without the risk of losing the euro, I started looking for alternative solutions to traditional investment.
Earn cryptocurrency without investing money
First, I invested part of my savings in lending solutions. On platforms like Crypto.com or Binance, it is possible to freeze stablecoins, coins whose price is stable and collect profits. It’s just like bank interest, although the rates offered are more attractive. During last year’s bull run, some services managed to gain more than 10% on some cryptocurrencies. Despite the crash, the rates are still much higher than those of the banks. It is clearly more dangerous.
At the same time, I continued to look for other solutions to earn cryptocurrency without losing euros. I was particularly interested in direction Play to win (“Play to win” in French). Based on the blockchain, these video games offer to win crypto assets through gameplay. Despite good discoveries, such as Axie Infinity, I have never been addicted to blockchain games. I was rather looking for a solution that would be more passive than effective.
move to gain direction
That’s when I heard about Move to earn (“Move to Win” in French) A sports variant of “Play” that you can win. Concretely, these applications reward their users with cryptocurrencies according to the steps recorded through their smartphone. The more you walk, the more digital assets you will collect! These apps also aim to encourage physical exercise.
During the explosion in the value of cryptocurrencies last year, some users earned astronomical amounts thanks to Move to earn. One application that has been remarkably successful in seducing netizens interested in crypto is StepN. On Twitter, some users claimed to have accumulated thousands of euros just by walking or running. It’s tempting, isn’t it?
Mandatory NFT hitch
After installing the StepN app, I quickly became disappointed. Because to be able to collect cryptocurrency while walking, you must first invest. The application forces users to purchase … a virtual shoe in the form of aNon-Fungible Token (NFT) on the blockchain.
Also, the prices were rather high. It took several hundred euros to get digital basketball. Obviously, everything depends on the price of the cryptocurrency at the time of purchase. Despite this hurdle, I’ve long considered taking the plunge by investing in a pair of sneakers. After all, many netizens have been able to pay off their investment in just a few weeks by walking or jogging.
On Twitter, I came across a plethora of investors who have tailored payment plans to StepN. The goal of these plans was to quickly generate enough money to recoup its initial stake. Once this is done, the user can start earning. As part of these strategies, it was enough to take into account the price of the chosen basketball and the price of the cryptocurrencies offered (GST / GMT). Thus, the user found out how many steps he had to take each day to be compensated.
As expected, user profitability finally collapsed as the cryptocurrency market entered a new bearish phase. Suddenly, the incredible yield turned to dust. I missed the mark.
I started looking for other apps of this type Move to earn. In the wake of StepN, several projects have sprung up. Unfortunately, purchasing NFTs has been a barrier to entry for many applications. This is for example the case of Fitmint or Step, a StepN clone.
Note that some apps use video game codes, with tasks to complete and challenges provided by the community. If you feel tempted, we advise you Rancher Runner. These apps often suffer from a cluttered interface and a wealth of unnecessary features. For my part, I was looking for simplicity.
Applications without initial investment
Finally I came across Move to earn Well-designed, simple, and doesn’t require buying a pair of virtual sneakers. It is for the Sweet Queena project that already existed long before the trend was born.
Like StepN, SweatCoin rewards its users based on the steps taken. Initially, the app rewarded its users with a token that could be exchanged for goods or services. The online store allows you to buy products or get discounts on others. The project has nothing to do with crypto or blockchain.
Faced with the rise of cryptocurrencies, SweatCoin teams launched their cryptocurrency, The Sweat, in September 2022. All tokens earned by users can be converted into Sweat through a dedicated app, the Sweat Wallet. On this digital wallet, you can earn interest by locking Sweats for a specified period. At the same time, it is always possible to exchange your winnings for items or discounts.
Don’t expect to make a fortune collecting sweatshirts, even if you run every day for several hours. We are far from the returns provided by StepN. However, your earnings allow you to participate in contests, the prizes of which are sometimes attractive. The app offers for example to win more than $12,000 USD, or $12,000.
Finally, I also discovered an app that allows you to earn Bitcoin directly, sMiles. Very basic, it rewards you with satoshis, the smallest part of Bitcoin, based on your steps. You can easily transfer your earnings to an external wallet. Again, don’t expect fortune. In one week, sMiles earns me an average of 50 satoshi, or…0.00988€.
As you understand, it is indeed possible to earn a little money just by walking. However, you will not make a fortune in cryptocurrency. Magic money does not exist, although some would have us believe it.