Cult Of Money

Intersection Of Personal Finance And Cryptocurrency

Games

Stepn: Earn Crypto For Walking

•

At The Cult of Money, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners who compensate us. This doesn’t influence our evaluations or reviews. Our opinions are our own. Any investing information provided on this page is for educational purposes only. We do not offer investment advisor or brokerage services, nor does it recommend buying or selling particular stocks, securities, or other investments. Investing in cryptocurrency and crypto assets is high risk. Don’t invest unless you’re prepared to lose all the money you invest. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. CultOfMoney.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.
Stepn Review

Web 3.0 has found a way to combine exercise with a complex gaming strategy.

As move2earn games rise in popularity, Stepn has found a way to utilize the blockchain to create a complex game – involving NFTs and crypto – and encourage exercising as well. 

And yes, you can use Stepn to earn crypto for walking and more!

Table of Contents
About Stepn
What It Offers
Stepn Features
Stepn Pricing and Fees
Stepn Alternatives
Account Opening Process
Safety And Security
Customer Service
Pros and Cons
Bottom Line

About Stepn

Stepn is more than an exercise app. It’s a complex gaming system that encourages staying active. Using levels, NFTs, cryptocurrency, and more, this “move2earn” game gets gamers to enjoy exercising their brains and bodies. Players can walk, jog, and run to level up in the game and earn crypto. As players learn the game, they develop a strategy to optimize crypto earnings and unlock more levels.

The Stepn website shows real-time stats on distance players have run, carbon offset amounts, calories burned, Discord members, and Twitter followers. The site also hosts a few YouTube videos to help new members get started playing the game and teaches strategies on how to earn more crypto. 

What It Offers

Stepn uses Solana (SOL) to purchase NFTs required to play the game. These NFT sneakers — bought with Solana coins — offer different attributes and gems that may boost your crypto earnings. Available exercise earning time or energy can also determine how much crypto you earn at a time. 

It includes many factors that determine the amount of crypto you earn, so crafting a strategy is essential. Since sneakers are tradeable NFTs with an expensive buy-in, you’ll want to determine how to utilize your purchase to earn the most crypto over time.

Although sneakers are bought using Solana, earnings are paid out in Stepn’s utility token, called Green Satoshi Tokens (GST). These tokens can later be exchanged for USD Coin.

Stepn Features

Types Of Sneakers

Start by choosing a sneaker that coincides with your fitness level.

  • Walker: Earns 4 GST per energy spent and is suitable for users moving 1- 6 km/hr
  • Jogger: Earns 5 GST per energy spent and is suitable for users moving 4 - 10 km/hr
  • Runner: Earns 6 GST per energy spent and is suitable for users moving 8 - 20 km/hr
  • Trainer: Earns 4 - 6.25 GST per energy spent and is suitable for users moving 1 - 20 km/hr
Stepn Types of Sneakers Screenshot

Find A Sneaker In The Marketplace

Once you’ve decided which sneaker type best fits your fitness goals, you can choose the one you like from the in-app marketplace. If you want a higher energy level to earn more crypto, you can purchase multiple sneakers. Stepn’s marketplace also offers a ‘shoebox’ for sale containing a mystery sneaker with random type and quality for the adventurous user.

Stepn Sneaker Marketplace

Sneaker Details

  • Gems & sockets: There are four gems with differing attributes, including efficiency, luck, comfort, and resilience. Each gem has a corresponding socket, and whenever a gem is inserted into a socket, that attribute is enhanced in the sneaker.
  • Repair: Sneakers lose their durability when used in gameplay and require GST to repair.
  • Attributes: Efficiency allows for higher GST earnings, luck improves the quality of Mystery Boxes, resilience reduces the amount of repair needed, and comfort (which is currently still under development) improves Stepn’s governance token earnings, called Green Metaverse Tokens (GMT).
  • Quality: Each sneaker’s quality is determined by its attributes' minimum and maximum value. 
Sneaker Detail

Stepn Pricing and Fees

Stepn earns profits by charging fees for selected in-app activities. Many of these fees profit the NFT creators and the app users themselves. There are various fees throughout the game, ranging from 2% to 8% from each purchase:

  • Marketplace Trading Fee: 2%
  • Marketplace Royalty Fee: 4%
  • Shoe-Minting: 6%
  • Sneaker Rental: 8%

Stepn Alternatives

Not sure if Stepn is right for you? Here are a couple of alternatives in the move2earn sphere to explore. 

Sweatcoin offers a more simple move2earn approach. Simply walk or jog to earn Sweatcoins, which can be donated, used to purchase select goods, or converted into SWEAT, a brand new cryptocurrency. There is also a premium subscription service – paid in SWEAT – to access NFTs, markets, social media, and more.

If you’re looking to earn crypto with other forms of exercise, perhaps try the DOSE token. DOSE gamifies several different fitness experiences as “missions,” so you can earn tokens while doing more than just walking or jogging. DOSE even has an upcoming game format where you can earn tokens for cycling. Players can get started for free and use their earned tokens to buy NFTs, unlock items or participate in unique events.

Account Opening Process

Opening an account at Stepn is as simple as downloading the app, signing in with your email address, then verifying the account with a code. Once you’ve signed up, you'll have to create a new wallet if you don’t already have one.

You’ll receive a secret 12-word phrase that you need to access your wallet if you forget your password, so keep a physical copy of the phrase in a safe place. After that, simply place SOL in your wallet to purchase your first NFT sneakers. 

Stepn uses the Binance exchange. Crypto exchanges have KYC or “know your customer” requirements to verify a user’s identity. These requirements are mandatory to comply with crypto regulations and typically take a few minutes to complete after registering with an exchange. 

Binance’s KYC process requires various documents for verification, depending on which country you live in, including a government ID, facial verification, proof of residence, and other personal information. 

Safety And Security

Stepn developers worked hand-in-hand with Verilog to discuss potential vulnerabilities with the app. Verilog also provided an in-depth audit of the finished code to search for any security problems. 

To secure user transaction and log-in information, Stepn uses Google two-factor authentication. Stepn also makes a point of following Google and Apple privacy requirements.

Stepn’s privacy policy states that cryptographic protocols protect users’ personal information. Although reasonable precautions are taken, Stepn cannot guarantee security, and users acknowledge this at their own risk.

Customer Service

Stepn’s website has little contact information listed. However, you can reach their customer service via email. Customer service options are limited, though it is unlikely you’ll need anything extremely urgent from this app.

Pros and Cons

Pros

  • Interesting way to learn about crypto, NFTs & Web3
  • Incentives exercises
  • Complex strategies for those who like level up/achievement games

Cons

  • Hundreds of dollars in upfront costs
  • Steep learning curve
  • Minimal earnings when starting

Bottom Line

Stepn is more than just a move2earn app. It takes exercise as a game to the next level. Not only can players use attributes and movement to earn crypto, but they can also trade sneakers and cash out their earnings for real money. The game combines exercise and crypto trading in a way that could pay you to get off the couch. That’s a win-win for your waistline and your wallet.

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

Subscribe
Notify of

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments