Reading: Bitwalking Wants to Pay you Cryptocurrency for Walking Every Day


Bitwalking Wants to Pay you Cryptocurrency for Walking Every Day

Nick Marinoff | Dec 17, 2015 | 08:00

Walk Before You Run Altcoins

Bitwalking Wants to Pay you Cryptocurrency for Walking Every Day

Nick Marinoff | Dec 17, 2015 | 08:00

Walking is fun. There’s nothing like hiking the trails near one’s house, surrounded by nature and the breeze blowing gently through your hair. It’s also an efficient and productive means of getting around. It gets us where we need to go, especially those who don’t possess vehicles or who just need to make a little stop at the corner. Finally, let’s not forget how efficient walking is regarding exercise. It keeps us thin, healthy and in shape. Yup, walking is a fun and resourceful aspect of life, and we do it every day, so who wouldn’t want to earn a little money here and there doing it?

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A new startup is releasing an app called “Bitwalking.” What does it do? It pays iOS and Android users in the U.K. and select parts of Asia to walk.

The cryptocurrency that the app uses is known as “Bitwalking Dollars.” To earn the money, users must walk approximately 10,000 steps a day, which is equivalent to five miles. It may seem a lot, but when one considers how many steps it takes just to get from our cars to our front doors or to work, it doesn’t seem like much. Users can earn up to three Bitwalking dollars a day. From there, they can either use the money in the company marketplace, or they can exchange it for regular, fiat currency. It’s as simple as that.

The company is presently trying to advertise the product to several developing countries, where workers typically earn less than a $1 a day, and where transportation leaves a lot to be desired. The app has the potential to greatly expand their earnings over time.

The website explains:

“We believe that everyone should have the freedom, the ability, to make money… A step is worth the same value for everyone – no matter who you are, or where you are. What matters is how much you walk… With Bitwalking, you simply generate money by walking… The free app converts steps to Bitwalking dollars (BW$) that you can manage and use as you wish. The money you generate accumulates each day and remains in your account until transferred or spent… The Bitwalking Dollar is real money. This is not a rewarding system, points system, mileage system, game, or fitness app.”

The company is also looking to partner with various sports brands, health services, insurance firms and environmental groups. Thus far, the app has managed to garner over $10 million in funds from investors in Japan, which currently houses the bank responsible for the company’s money transfers, and a bank in the U.K. has recently announced plans to partner with Bitwalking in a major music festival next year. Various shoe brands have also shown interest, but the names of such brands have not yet been released.

In the end, however, the app is all about promoting a healthy way of living and environmental conservation. Walking keeps us strong and the air clean. What more could we possibly ask for?

Does this sound like a useful app? Post your comments below!

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