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If the idea of earning money while you move sounds exciting, you might be interested in programs like Step App. Step App combines social interaction, exercise, token mining and NFT trading to create a unique experience. Does this app actually live up to its promise to let users make money while playing fun games and getting fit? Explore our guide to see how Step App works and learn if it's right for you.
Step App is a move-to-earn (M2E) app designed to revolutionize the way people manage their personal health. Available on both iOS and Android, the app lets you convert physical activity into token rewards with real-world value.
Step App allows you to sign up for an account and download the app onto your phone. Once you're logged in, it passively counts your steps and converts each step into a fraction of a token. These tokens are based on Avalanche and come in a few different forms. You can then exchange these tokens for cash or use them to buy SNEAK NFTs that may potentially have a higher value. The app has a complex ecosystem that combines a lot of opportunities for fitness, fun and finance.
FITFI is the governance token for the whole Step ecosystem. This token's name is short for the company's motto of "Fitness Finance." In an attempt to make the app as decentralized as possible, FITFI was evenly distributed among all users at the time of the token generation event. People can use FITFI to participate in community decisions. All FITFI holders are allowed to vote on any changes to the ecosystem. FITFI can also be used for purchasing some booster items in the app. In addition to gaining FITFI by signing up for the program, you can also purchase it through various crypto exchanges.
KCAL tokens are the internal currency of the app. These are the tokens that most users need to earn money. KCAL tokens are earned by running or walking while holding a phone that contains the Step App. As you move, you rack up KCAL tokens, and then you can use these tokens to mint new SNEAK NFTs that can be quite valuable. Like FITFI, you can buy and sell KCAL in return for other tokens like ETH and USDT.
Step App is a relatively new M2E project, but it has very lofty ambitions. Currently run by Kirill Volgin, the company aims to bring web3 concepts to the fitness industry. Their hope is to create a blockchain project that can become part of people's everyday lives. The founders' main aim was to create a network where people can interact with each other while combining interests in fitness and decentralized finance (DeFi). They first launched their initial coin offering (ICO) in April 2022, and since then, the app has attracted a huge number of users.
The founders were inspired by past M2E apps while also wanting to fix potential vulnerabilities they saw with other projects. Unlike most other similar apps, Step App is built to allow third-party collaboration. The Step Protocol can be used by others to build projects with the Step ecosystem. Another big difference is that Step App is more decentralized. Instead of being governed by a set of developers or executives, the app is governed by the community itself.
Earning money with Step App seems fairly simple at first. At the most basic level, the more you move, the more money you earn. This concept is usually easy enough to follow when you first sign up, and then you'll slowly discover some more complex mechanisms that add extra fun to the app.
There are several different rewards associated with Step App. Users can get KCAL tokens by walking, jogging or running. The amount of KCAL tokens you will earn depends on what sort of boosts you have applied to your account. However, before you can start earning crypto, you will have to first purchase SNEAK NFTs. All Step App users can purchase SNEAKs.
Unlike some other move-to-earn apps, Step App has a lot of different things going on. Their detailed design includes everything from player marketplaces to token staking. Here are the many different types of features you can access by downloading the app on your iOS or Android device.
SNEAKs, which are called sneakers by many Step App players, are a type of NFT available within the game. You can mint these NFTs yourself by staking tokens, received through various loot boxes or you can purchase them on the marketplace. SNEAKs come in a variety of styles and boost types. Different sneakers can increase your KCAL earn rate, give you bonuses for moving at certain speeds or reduce the rate at which your sneakers require repair since they get worn down over time. You can use KCAL to repair them and level them up. SNEAKs are also categorized into different qualities — Common, Uncommon, Rare, Epic and Legendary.
There are a total of four types of SNEAKs you can get — Walker, Hiker, Racer and Coach.
Here's a quick rundown of some common SNEAK attributes:
SNEAKs are one of the most important parts of the app, so it's a good idea to check out the marketplace. On this market, you can buy and sell SNEAK NFTs. The right sneaker can increase your KCAL earning rate by quite a lot, so they can sell for a lot more money on the marketplace. Some players also purchase SNEAKs solely for collectibility. Rare items are very popular among players who want to display unusual SNEAKs on their Step App shelf.
Each time you level up your SNEAK, stats get randomly added to the sneaker. This can be a huge perk if you get something good, but it can also mean your SNEAK ends up looking a little lackluster. Fortunately, if you end up encountering this problem, Step App allows you to reroll your stats. When this happens, your sneaker's attributes are set to zero and then leveled back up to their current level. Essentially, this means you get a brand new stat assignment for each level your SNEAK had. The only downside is that this requires you to pay FITFI tokens. Higher-level sneakers with more rerolls in the past cost more to reroll again. The minimum price for a reroll is 0.6 FITFI, but it can go as high as 1,335.1 FITFI.
To help maintain FITFI value, Step App also encourages users to stake their FITFI tokens. This involves temporarily locking a set number of tokens so that they can't be traded or otherwise used. You can do this by simply going to the Staking page on the Step App website. This site will guide you through the process of connecting your wallet and choosing how much FITFI you want to stake. There are currently three different pools you can join which let you lock your tokens for two months, six months or 12 months. If you need your FITFI early, you can withdraw them from the pool, but do note that this will incur a penalty of 16%.
Why is staking such an exciting feature of Step App? First, it rewards users based on how long you stake your tokens. All the FITFI tokens that Step App charges users who withdraw early are evenly distributed among stakers based on the number of tokens they have staked. In addition to these token rewards, you also enter a lottery to win loot boxes. If you win the lottery, which is drawn twice a month, you can get free SNEAKs, skins, avatar badges and tags.
Keep in mind that Step App is just one small part of a much larger ecosystem. The Step ecosystem is a whole collection of functions and programs that run through the Step network. This network consists of all products that launch on the mainnet of the Step blockchain. One especially exciting function is Step Launchpad which lets users stake tokens to support new startups that will run on Step. Another useful part of the ecosystem is Step Ex which lets people exchange their FITFI for popular tokens such as USDT and USDC.
Step App is just one small part of the company's goals for a financial fitness organization based on web3 concepts. The next area the Step team is tackling is the world of artificial intelligence (AI). Step 2.0 is the company's project that uses a proprietary AI to manage a vast selection of user data and provide financial rewards for those who stay fit. The Step App can track your activity and then use its AI system to identify users who are committed to staying healthy. Step 2.0 then lets qualifying users get discounted healthcare insurance through the Step marketplace. This insurance rebate program is still in its early stages, but it provides yet another way for users to earn money while getting fit.
If all of these perks sound exciting to you, it's probably worthwhile to try out Step App for yourself. To get started and earn crypto, you just need to follow these steps.
Of course, anyone interested in Step App will most likely end up comparing it to STEPN and Sweatcoin. These two play-to-earn games were some of the first games to refine the concept of providing crypto to people who take part in physical activity. However, though all three of these apps are in the same genre, they're not identical. There are several things that make Step App stand out.
Both Sweatcoin and Step App are M2E apps that focus on personal fitness and health. However, Sweatcoin doesn't let you adjust your earning rate. At launch, every 1,000 steps earned you a SWEAT token, no matter what you do, but as time passes, SWEAT tokens get increasingly more difficult to mint. This means that more steps are required the next day to mint another SWEAT token. Meanwhile, with Step App, you can strategize and find ways to maximize your KCAL earnings. Furthermore, Sweatcoin makes it a bit trickier to cash out your earnings. You can use your Sweatcoins (in-game currency) to purchase products in the Sweatcoin shop, or you can use them to buy Paypal and Amazon gift cards.
Meanwhile, STEPN's approach is a little closer to Step App. STEPN is also a gamified app where you can earn and buy NFT sneakers to alter your STEPN earn rate. It also offers a lot of crypto trading options, so you can cash out your rewards directly. There are some differences on the practical side, such as STEPN using the Solana blockchain while Step App uses the Avalanche blockchain, but there are also dissimilarities in how the games are played. Step App gives you more chances to earn crypto by staking tokens or doing other community projects. This lets you begin earning money without having to first invest in pricey NFTs.
Step App stands out from many other move-to-earn apps because it is part of a thoughtful, carefully-designed project. The company was only founded in 2022, but it has already managed to complete and fully launch the Step App. They've run several successful promotions and have plans to do more Step App community events in the future. So far, the company has done an excellent job of keeping community members updated and sticking to the deadlines they set for themselves.
Keep in mind that Step App is just one part of what the company has set out to do. The app is built on the Step Protocol which can also run a variety of other fitness-related decentralized apps. In the future, the team hopes to add more gamified fitness projects to the metaverse, so users can also get fit and earn tokens with augmented reality. The company also hopes to collaborate with more third parties, such as healthcare insurance companies, to offer a broader range of services to its communities.
FITFI is a crypto token based on the Avalanche C-Chain blockchain. It has a total supply of 5 billion and a current circulating supply of more than 1.33 billion. At the time of the Step App launch, millions of FITFI tokens were generated. 14% went up for public sale while 15% were given to the team as compensation for their efforts. A further 20% of tokens were reserved for staking, liquidity and incentives, and 30% were allocated to Step App miners. 15% was allocated to marketing, acquisitions and licenses, and the remaining 6% was reserved for partners, advisors and consultants.
FITFI has many uses within both the Step App game and the Step ecosystem. Holders can vote for various updates and invest in new programs. They can also use FITFI to purchase SNEAK NFTs.
During its initial DEX offering (IDO) which started on Apr 11, 2022, FITFI was sold for around $0.0049. Buzz about the app and the fact that Usain Bolt would be its spokesperson generated a lot of interest. In May 2022, FITFI reached an all-time high of $0.73. Since this peak, FITFI price has dropped a lot. However, once Step App officially launched on the mainnet on Dec 1, 2022, FITFI price started to recover. Since then, the price has been mostly stable at around $0.02 with some slight peaks.
All of this movement has caused some disagreement among crypto investors. Though most don't expect the coin to reach its all-time high again, some think it could rise a little more. CoinArbitrageBot has a positive outlook, with reports that prices could reach $0.0879 by 2025 and $0.122 by 2028. Meanwhile, WalletInvestor has a more bearish outlook. It estimates that prices will reach $0.002 by 2024 and decline further in the future. Ultimately, most experts agree that the price will depend greatly on how well Step App does. FITFI doesn't have much staying power on its own, so it will only do well if a lot of people continue to use the app or the Step ecosystem.
FITFI is Step App's most publicly-traded token. In fact, FITFI is on all the big cryptocurrency exchange sites. Options like Bybit let you purchase and hold FITFI whether you use Step App or not. Purchasing FITFI on Bybit is fast and easy. Simply sign up for a Bybit account to start trading the FITFI/USDT Spot Trading pair.
Other than trading FITFI, you can also purchase KCAL tokens on crypto exchanges such as Bybit. Likewise, simply create a Bybit account to start trading the KCAL/USDT Spot Trading pair.
FITFI was definitely a hot investment last year, but for 2023, a more cautious approach is a good idea. The project FITFI is based on is definitely a very promising one with a lot of potential to outcompete other M2E apps. This may ensure that FITFI remains a useful token for thousands of players. If this is the case, these players are likely to buy FITFI regularly, resulting in more trading volume and a higher price. Price spikes are especially likely to occur when the app runs new community events that attract interest from players and investors.
However, despite being a neat short-term trade, FITFI doesn't have an extremely positive outlook as a long-term crypto investment. Investors who like playing around with M2E tokens have moved on to buzzier games, and there are a lot of other similar products on the market. There's certainly a chance that this crypto might surprise investors, but it's not the type of token that a wise investor would pool all of their money in. As such, it’s important that you do your own research before investing.
Step App is a neat way to earn crypto through exercise. Not only does it help you improve your finances, but you also get the motivation to stay healthy with physical activity. Though the app's KCAL and FITFI tokens aren't likely to skyrocket in price any time soon, they have some unique perks that make them a good choice for creative investors.