Fitcoin: Work Out and Get Paid for It

fitcoin cryptocurrency

If you have a computer and internet at your place it’s likely that you’ve had a day where you just wasted most of your time surfing the net. Only after the sun has settled down and your eyes growing heavier as the stars wheeled outside will you regret not doing something productive that day.

You could’ve exercise. Try and stay in shape, right? But you opted to look at cat pictures on the internet and watch Netflix and Youtube videos instead. And you hate yourself for it.

Fitcoin

What if I told you that someone out there is going to pay you money if you start working out? All you need doing is straight up putting your running shoes on, hitting the gym, and start sweating those calories out.

Well, I’m not kidding. There is really someone out there who’s going to pay you to get and stay in shape.

Enter Fitcoin. Created by Chaotic Moon Studios, Fitcoin is a new cryptocurrency designed to award people Bitcoin whenever they’re working out. It works like so.

First, create an account where your Bitcoin can be stored, download the Fitcoin iOS app, place your basic information, and sync it to your fitness tracker. Next step is you head over the gym or start running. As you exercise the app will then start recording your length and level of activity. The applications algorithm then calculates the amount of energy you’re generating and convert it to Bitcoin accordingly.

Before the how, let’s get the what out of the way. The what is your fitness tracker. Currently, Fitcoin is only accessible to fitness trackers which measures heart rate and allows the public free access to their software. These conditions narrow your choices down to three devices: the Mio heart rate monitor, the upcoming Jawbone UP3, and Atlas, a new fitness tracker on the market that is based on Austin.

The payment

Now comes the how. How much? How much does Fitcoin pay you for working out? During the app’s demonstration, Grant Nicol, one of the cryptocurrency’s designers, went for a run on a treadmill wearing a Mio heart rate monitor.

After three minutes and forty seconds, the Fitcoin app on his phone calculated the overall activity and spat out a sum of five cents. These five cents is taken from Moon Studios’ own Bitcoin stash for test runs of the app.

But what exactly do the creators get with this? Well, Chad Derbyshire, Chaotic Moon Studios marketing director, is hoping that this will lead to a new kind of cryptocurrency which large fitness companies will then adapt.

One of the companies that they’re hoping would take interest is Adidas. Derbyshire went on to suggest that Adidas could offer customers special bargains on certain products that could be only be bought using cryptocurrency that they’ve earned during workouts.

Another idea is for Adidas to allow people to slash prices down with Fitcoin, sort of like a discount.

However, Fitcoin is still a work in progress. Developers are still fixing bugs and other issues of the app. But it is quite an interesting concept. With the growing health problems around the globe, this might potentially encourage people to live a healthier lifestyle. And you’ll have a rocking body to boot. Sweet!

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