FitCoin has stepped into the spotlight, pairing the two industries i.e. Bitcoin and fitness together in a new and unique project
By: HBI Desk
Gone are the days when staying fit and healthy just meant having an expensive gym membership with a personal trainer to keep tabs on your workout routine. Now, personal fitness trainers have gone hi-tech and reside inside apps with workout stats monitored on wearable devices and smartphones!
But, before you go into fitness frenzy and decide to download a whole host of apps with similar features, take a look at this unique fitness app that promises not only physical rewards that come with the workout, but also financial rewards and much more to motivate you further on your goal towards fitness all year round.
FitCoin has stepped into the spotlight, pairing the two industries i.e. Bitcoin and fitness together in a new and unique project. Bitcoin has become the currency of choice for FitCoin developers as fitness meets physical performance in an experiment attempted never before. FitCoin allows the customer to be rewarded in Bitcoin for their physical exertion. The unique coin works on a Proof of Human Work algorithm, which essentially allows user to earn while they burn (calories). The FitCoin App allows users to monitor the intensity of their exercises with payments being made depending on the intensity of them.
About the App
For some, just the idea of tracking steps and calories is enough to make them exercise – but many of us need much more of an incentive. The idea behind the Fitcoin app is actually quite simple. Everyone wants to get fit, but they often need an extra motivation to do so. That’s where Fitcoin comes in. The app lets groups of friends set challenges and then buy into them. The first person to hit the set goal wins the money. The FitCoin technology syncs with fitness trackers to monitor how much energy is being used and this energy is converted into Bitcoins. The concept app created by Chaotic Moon Studios, a technology studio in Austin, Texas rewards you for working out by turning your heart rate data into virtual currency.
The app only works with fitness trackers that monitor heart rate and have open source software, which includes the Jawbone UP3 and Mio. The fitness tracker sends the heart rate data and length of activity to the app as the wearer exercises, which then determines how much energy is being used. This energy is then converted by an algorithm in ‘computer processing time on a Bitcoin mining rig’ – or how much computer power would be needed to mine the virtual coins. Users can choose a virtual wallet to receive the money and can then trade coins with other users or with retailers who accept them, such as eBay and Microsoft. FitCoin gives users real-time notifications and earnings updates as well as a dashboard to track how both their body and their bank account are progressing.
Why Fitness Coins?
Anyone who sets goals can enjoy the “Fit Coin” App. No matter what age or level of experience, anyone can earn up to 50 coins a day for practicing the program of their choice. What makes Fitcoin a universal app is the simplicity of the user being in control of their own daily account.
The user can customise any program for any goals that will also change throughout their lifetime as they progress. Every day is a new day for the user to try their best. This App is perfect for healthcare professionals to keep their clients on track with their programs by creating specific goals and assigning a value for the daily activities that are being suggested by the professional. Some healthcare companies also offer rewards for earning fitness coins and for staying accountable. The user can always have total control of their own personal account but it is always helpful and encouraging to share with friends who support and professionals who can advise.