Topics GameFi
Bybit Learn
Bybit Learn
22 Th09 2022

How to Earn $SWEAT on Sweatcoin & Deposit $SWEAT on Bybit

The concept of Move-to-Earn has been growing in popularity ever since it was first introduced. The idea of being able to earn money simply by staying active has excited many and prompted users to try out apps such as Sweatcoin

If you’re also interested in earning crypto just by moving, follow our detailed guide to find out exactly how you can earn $SWEAT on Sweatcoin and deposit those $SWEAT tokens in your Bybit account for trading.

How to Earn on Sweatcoin

In order to earn on Sweatcoin, you would first need to register for an account. Once that is done, there are a few ways for you to earn $SWEAT or Sweatcoins.

Taking Steps

If you’re using your mobile device as your tracker, do ensure that you keep it with you in your pocket at all times, no matter where you go. This will help to track the number of steps you take and award you with $SWEAT or Sweatcoins in return. 

Sweatcoin will track your steps as long as it is running in the background. This means that your steps will be tracked as long as you don’t force-quit the app.

For every 1,000 steps that you take, 1 $SWEAT will be added to your Sweat Wallet. However, it is important to note that the $SWEAT token gets increasingly more difficult to mint as time passes. This means that it will require more steps, the next day to mint another $SWEAT. You can also only mint $SWEAT for the first 5,000 steps that you take each day. The subsequent 5,000 steps you take will earn you Sweatcoins instead. $SWEAT tokens can be used for trading, while Sweatcoins can be used to exchange for rewards on the Sweatcoin app.

Completing Daily Bonus Activities

Sweatcoin offers three daily rewards where you can try your luck and win up to 1,000 Sweatcoins each time you claim them. Of course, it isn’t that easy, and most people claim to usually receive between 0.9 and 2 Sweatcoins. All you do is watch an advert and you’ll see your wallet balance increase with Sweatcoins.

Joining Challenges

Sweatcoin will occasionally organize challenges for its users to earn more Sweatcoins. The latest challenge is a TikTok x Sweatcoin Challenge where users would have to complete the six steps mentioned in the TikTok video. If your video gets re-posted by the official Sweatcoin TikTok page, you will be able to earn up to 300 Sweatcoins! 

Alternatively, you can also check out the available Sweatcoin Races found under the Challenges tab on your mobile app. For this month, you will have to hit 250,000 steps in order to gain 25 Sweatcoins. Two lucky winners will also be selected at the end of the race to receive a $250 Airbnb gift card.

You can also earn more Sweatcoins by referring new friends or becoming a Sweatcoin influencer.

How to Start Earning

You have to first download both Sweatcoin and Sweat Wallet on the Apple App Store or on the Google Play Store. Once you sign up on Sweatcoin, open your Sweat Wallet and tap Log In with Sweatcoin

Once you tap on this, you will be redirected to your Sweatcoin app and prompted to Opt into Crypto. Read the instructions and tap on Get Your Wallet.

Confirm your email address and you will be sent a six-digit code. 

Do ensure that you keep this email with the six-digit code safe as it will be used to recover your account in the event that you lose it.

Open the Sweat Wallet app and Approve Login.

Once you’ve approved the login, follow the instructions and Open Your Wallet. You should see your $SWEAT tokens. From here, you’ll be able to exchange, trade, send, earn and get rewards.

If you face any errors, you can also head to the Help Centre on Sweatcoin for solutions.

How to Withdraw $SWEAT into Your NEAR Wallet

If you would like to trade on the open market, you need to first withdraw your $SWEAT tokens into your NEAR Wallet. You can choose to create a new wallet or import an existing one. Copy your NEAR Wallet address under Receive

On the Sweat Wallet app, tap on Transfer followed by Send. Paste your NEAR Wallet address into Username and tap Search on your keyboard. Follow the steps on the screen to complete the withdrawal of your $SWEAT tokens and you should see the balance in your NEAR Wallet after the transaction has been processed.

How to Deposit $SWEAT on Bybit

Now that we’ve covered how you can earn $SWEAT and withdraw $SWEAT tokens to your NEAR Wallet, let’s take a look at how you can deposit those tokens into your Bybit Spot account to trade. If you don’t already have an account, you can register for a Bybit account to get started. 

On Desktop

Step 1: Click on Assets on the top right-hand corner of the Bybit home page to be directed to the Assets Page under Spot Account

Step 2: Search for the $SWEAT token in the search column and click on Deposit

Step 3: On your NEAR Wallet, do ensure that you have selected $SWEAT tokens as your Asset before you click on Send

Step 4: On your Bybit account, ensure that the Chain Type is set to NEAR before copying the wallet address. Then, paste this address into your NEAR Wallet destination address field and click Send

Step 5: Wait for the $SWEAT to appear on your Bybit Spot account and then you can trade. To learn more about how you can make a deposit on Bybit, you can visit the Bybit Help Centre.

On Mobile

Step 1: Tap on the Assets button at the bottom right corner of the page. 

Step 2: Under Spot, tap on Deposit.

Step 3: Search for the $SWEAT token in the search bar.

Step 4: You’ll be directed to your Bybit wallet address. Ensure that the Chain Type is NEAR before copying this address and inputting it into your NEAR Wallet destination address field.

You can check out our guide video here.

How to Trade SWEAT/USDT on Bybit

Now that you have $SWEAT tokens in your Bybit Spot account, you can proceed to trade $SWEAT on the SWEAT/USDT Spot trading page. 

On Desktop

Step 1: Click on Trade and select Spot Trading. Then, select the SWEAT/USDT Spot Trading pair.

Step 2: You will be brought to the SWEAT/USDT Spot Trading page. On the right side of the page, select Market.

Step 3:

  • Buy: Enter the amount of USDT you would like to pay in exchange for $SWEAT.
  • Sell: Enter the amount of $SWEAT you would like to sell in exchange for USDT.

Step 4: Click Buy $SWEAT or Sell $SWEAT and your order will be filled. To learn more about how to trade on Spot, you can visit the Bybit Help Centre

On Mobile

Step 1: Tap on Assets and select $SWEAT.

Step 2: Tap on the SWEAT/USDT Spot Trading pair.

Step 3: Select Market.

Step 4:

  • Buy: Enter the amount of USDT you would like to pay in exchange for $SWEAT.
  • Sell: Enter the amount of $SWEAT you would like to sell in exchange for USDT.

Step 5: Click Buy $SWEAT or Sell $SWEAT and your order will be filled.

Do also take advantage of Bybit’s ongoing zero fees campaign for all spot trading pairs!

How to Trade SWEAT-PERP on Bybit

Other than trading the SWEAT/USDT spot pair, you can also trade $SWEAT perpetual contracts. It allows traders to enter long and short positions with leverage.

Step 1: Deposit USDC to your Spot Account and transfer it to your USDC Derivatives Account or Deposit USDT to your Spot Account, convert it to USDC and transfer it to your USDC Derivatives Account.

Step 2: Click on Derivatives and select USDC Perpetual. Then, select SWEAT-PERP

Step 3: On the right side of the trading page, you’ll see the Order Zone. Here’s where you can choose your desired leverage.

Step 4: Choose your order type: Limit, Market or Conditional.

Step 5: Enter the contract quantity that you would like to purchase. Alternatively, you can also use the percentage bar to set the contract quantity. 

Step 6: You can choose to Buy Long with TP/SL or Sell Short with TP/SL. This is optional, so skip this step if you decide not to choose either. 

Step 7: Place your order by clicking Buy/Long or Sell/Short

Step 8: Confirm your order.

The Bottom Line

With this guide, you will be equipped with all the knowledge you need to earn Sweatcoins and $SWEAT tokens and deposit $SWEAT into your Bybit account.

Join the Bybit x SWEAT: Walk Into Crypto event by completing simple tasks. For new Bybit users and $SWEAT holders, all you would have to do is sign up for the event, complete your identity verification and deposit $SWEAT into your Bybit Spot Account or trade SWEAT/USDT. This earns you 6 USDT! 

For existing Bybit users and $SWEAT holders, refer your friends to Bybit and both of you will be entitled to 4 USDT each. Make sure you invite your friends through the Bybit Referral Program to enjoy even more rewards.

So walk into Crypto with Bybit and Sweatcoin today and start Spot Trading or Derivatives Trading