They see me walking, they hating.
Thanks to the elements of incentives and gamification, legions of people have finally gotten out of their homes to either walk, jog, or run to earn cryptos and compete with friends and strangers. It appears that the advent of move-to-earn is finally here.
But “walk-to-earn,” the newest sub-niche in the move-to-earn space, may also be walking, or rather stepping closer into popularity. With a specific market that is less enthusiastic with intensive exercises and leaderboard rankings, this new service can be a potential hit for them.
If you’re one of these people and might be confused by all the available app choices in the market, we’ve picked one promising move-to-earn application that may meet your simple preference.
What is Step?
Step is a walk-to-earn application that lets users earn STEP tokens by simply walking every day. It runs on the BNB Chain.
The app has a minimum daily requirement of 4,000 steps and a 30,000 limit each day. Its focus on walking makes it an ideal application for beginners, whether you prefer light exercises or moderately intensive walks. Since running and jogging may potentially be exhausting for many people planning to try a move-to-earn app, its focus on walking could position itself to attract more users in the future.
Moreover, it also focuses on rewarding users with cryptocurrencies alone instead of giving mediocre products, a couple of fiat money, and coupons like what other fitness apps are offering. This would help non-crypto natives experience how to handle and interact with cryptos, which will eventually become necessary knowledge in the near future as the world evolves to a more decentralized financial economy.
To sum it up, it aims to deliver four main benefits:
- Aid in developing a healthier physique,
- Improve self-confidence and mental health,
- Increase financial opportunities, and
- Reduce carbon footprint.
Furthermore, it’s interesting to see a fitness app with clear intentions of protecting users’ privacy, which other move-to-earn apps barely (and vaguely) mention. Step highlights that it is a “privacy-focused app,” assuring users (at least on paper) that it has existing standards to prevent data leaks and misuse.
How Does Step Work?
Let’s get this workout up and running by answering your most important questions about the Step.
Can I trust Step’s accuracy?
Yes. Step’s Android version uses the mobile OS’ integrated accelerometer and Google Fit data to deliver accurate and real-time fitness data to users. It can also measure users’ distance from their phones if they are using a smartwatch. Apart from steps, the move-to-earn app also measures the users’ heartbeat and calories, aspects that can also affect their internal score.
The app’s iOS version also has the same features, only that it uses ‘Apple Health’ in generating accurate fitness data.
Can I use Step right away?
Investments are initially required before using the app. If you want to use the platform, you must first purchase and hold either a Step NFT or at least 22,000 $STEP tokens, which don’t really cost much today but could change at any time due to price fluctuations. Check out STEP price here. The same number of tokens previously cost more than $100, and this slump in price lowers the barrier for many users planning to try this move-to-earn app.
Once either the NFT or the required tokens have been purchased, Step will start tracking and logging users’ steps and convert them into tokens.
Can I claim my rewards immediately?
A specific token balance is required before withdrawing rewards. Users need at least 22,000 STEP tokens or a STEP NFT before they can claim their rewards.
Step charges 5% on each purchase and 15% on every selling transaction.
How can I plan my daily walking routine?
Step has a built-in calculator to measure how many tokens you can earn from your preferred level of exercise. This way, you can establish a clear plan for your daily routine and prevent yourself from burning out or overexercising.
Is there anything I can do with my STEP tokens?
Users can stake their purchased or earned $STEP on the Step staking page, allowing them to earn passive income. While there are no lock-in periods, users who choose to withdraw their yields within 72 hours will be charged an additional 1% fee on top of the standard 5%.
Moreover, they may also put their STEP tokens on the website’s farm and health pools to leverage their high annual percentage yield (APY) and annual percentage rate (APR), but these come with new sets of risks. Those with lower risk appetites may simply HOLD their hard-earned tokens and wait for STEP’s value to increase so they can cash out effectively.
Does STEP have physical merchandise?
The fitness app has a dedicated online shop for high-quality physical merchandise, which offers global shipping.
Is It Worth It? How Much Can You Earn?
If you are someone who is either in dire need of getting in shape or regularly goes for a walk or run, then sure, it will be worth your while. It can function as an incentive for you to exercise, and the health benefits that come along with it are immense, worth far more than the monetary rewards. But if you think you can get rich by just running around every day, you’re in for a rude awakening.
STEP won’t lift you out of poverty, that much is guaranteed. You need to think of the monetary rewards as a bonus while working on your physical (and mental) health. Billions of people are forced to walk many miles a day without getting paid. This is already a step (pun intended) in the right direction.
Don’t get us wrong, you can definitely earn some extra cash daily, but they would be far less compared to the average job. Also, it matters what country you live in. If you live in an area with a low cost of living, there might be a chance that you could earn enough to feed yourself, but that’s rarely going to be the case.
We can’t give you exact numbers because earnings would depend on the price of $STEP at any given time. In 2022, we are in a bear market so earnings will likely remain low for a while. There was a time when users earned around $20 every three days, but that was six months ago.
Earnings today would probably not be as much.
Getting Started with the Step App
- Download Step
- Top Up You Wallet
There are two options to activate the app: Buy and hold a minimum of 22,000 $STEP or purchase 1 STEP NFT. Note: Step won’t measure and log your daily walks until you finish this requirement.
The platform recommends purchasing STEP tokens at Flooz decentralized exchange. But if you prefer buying an NFT instead, you can check them out on OpenSea.
- Start Earning!
You can now hit your daily step goals and earn your first batch of STEP tokens! Reminder: Step requires a minimum of 4,000 steps each day (with 30,000 steps as the maximum) to unlock your rewards.
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