Celsius Network: A P2P Crypto Platform Enhancing Lending and Borrowing

Blockchain technology has emerged as the ultimate savior that could help enhance financial inclusivity around the world. As it stands, over 1 billion adults worldwide remain unbanked, without an account at any financial institution. Founded in 2017, Celsius Network is a peer to peer network seeking to harness the ledger technology and provide unprecedented financial freedom to millions of people round the globe.

Many people have shied away from opening accounts with financial institutions around the world on fear of losing their hard earned money, let alone unethical practices propagated by some of the institutions. Celsius Network is looking to change all this by replacing the current financial system with a new model that acts in the community's best interest while harnessing the capabilities and benefits of blockchain technology.

In a bid to solve the world's unbanked problem, Celsius Network has already started providing curated services unavailable through traditional institutions. Through its peer to peer platform, the blockchain-powered network is seeking to act as catalysts for financial disruption in a global scale. The ultimate goal is to bring the next 100 million people into cryptocurrency.

About Celsius Network

Celsius Network is simply a decentralized interest income and lending platform. The platform provides access to curated financial services not available through the traditional financial system via mobile app.

In addition, it boasts of Celsius platform that allows members to deposit, lend, and borrow digital currencies. The Celsius Token is the native token powering the Celsius network and platform.

Members can use their CEL tokens holdings to secure access to loans in dollars in the network while using their crypto holdings as collateral. Similarly, people who deposit coins in their Celsius wallet can earn CEL Tokens as reward for enhancing lending in the network.

Being the backbone of the Celsius Network, Celsius Token accords users:

• The ability to become a member in the Celsius platform and community

• Ability to deposit cryptocurrencies in the Celsius wallet

• Ability to apply for loans while using cryptocurrencies as collateral

• Ability to pay

• Interest on loans borrowed in the network at a discount

• Ability to lend cryptocurrencies and gain interest in return

• Ability to get interest rewards on lending cryptocurrencies

In addition, network users get rewards in the form of CEL utility token as interest on their coins in the network. In this case, interest is generated from fees in CEL tokens collected from institutional traders .

Celsius Network Loan Borrowing

Celsius wallet is at the heart of lending and borrowing in the Celsius Network. The crypto wallet allows members to use their crypto holdings to get loans in dollars. In addition, it is through the wallet that lenders earn interest on all deposited coins in the network.

The crypto wallet allows users in the Celsius Network to borrow loans in the US. Dollars using their crypto holdings in the network as collate. Unlike other cryptocurrency platforms, people can borrow and gain easy access to cash within the Celsius platform without selling crypto holdings.

In addition, all cryptocurrencies deposited in the Celsius wallet entitle users to PSO fees. Likewise, the tokens would be available on the network for immediate borrowing as well as shorting for a fee. Any coin lent from member’s wallet or used as collateral will continue to accrue interest in the form of Celsius token, thus allowing users to earn up to 9% in annual interest.

How Celsius Network is Enhancing Banking

One of the biggest undoings of cryptocurrencies is that they are yet to go mainstream Thus, holders can't leverage the true monetary value of their crypto holdings. Even with vast holdings of Bitcoin or Etherium, it is difficult for people to use the same holdings to buy a car or a home directly. The fact that most businesses don’t accept cryptocurrencies as a legal tender has significantly affected their transition to the mainstream financial sector.

Celsius Network is seeking to change all this by making it possible and easy for crypto holders to leverage the true value of their crypto holdings with ease. The crypto powered network is already making it possible for crypto holders to use their crypto holdings as collateral and secure low interest loans in dollars in the network.

How Celsius Network Makes Money

Being a peer -2-peer lending platform, Celsius Network makes a good chunk of its money from the lending and borrowing that takes place in the network. The lending platform takes in a variable fee on providing the most competitive rates for dollar borrowers in the network.

Conversely, Celsius Network makes money in the form of fees from each interest charged on each borrowing transaction in the P2P platform. Borrowers only have to contend with a minimum of at least 5% in annual interest on borrowings in the network.

As hedge funds, family offices, and crypto funds move to participate in the crypto trading business; Celsius Network is also looking to strengthen its revenue stream. Any entity seeking to participate in the crypto trading business will have to pay high fees to do so and participate in the market.

Celsius Network is working on its platform to make the most out of any trading that takes place eventually. For instance, the platform will take up to 50% of cash deposits and charge them interest whenever hedging occurs. In return, the Celsius network is to pass to the community any fees generated from the crypto trading business in the platform.

Bottom Line

Celsius Network is simply a cryptocurrency-powered network that lets users earn interest on their crypto holdings invested in the network. Similarly, it accords crypto holders the ability to borrow against their holdings and get cash in the form of U.S dollars. It also allows network users to borrow at the lowest interest rates in the market with cash and stablecoin loans starting at 3.47% .

In addition, Celsius Network being a community network, shares at least 80% of its revenues with clients who have invested in the network in the form of weekly interest payments. Users can earn up to 10% in interest payments .

Join Celsius Network using my referral code 103514fb27 when signing up and earn $10 in BTC with your first deposit of $200 or more! #UnbankYourself

CLICK HERE TO USE MY REFERRAL CODE

Coil subscribers find out what I think of Celcius based on my personal experience...

Crypto.com Ultimate MCO Visa Cards For Cryptocurrency Spending

Crypto.com's array of solutions and products continue to bridge the gap between blockchain technology and the mainstream financial sector. Four years into the game, the crypto investment and wallet app has made impressive strides in accelerating the adoption and use of cryptocurrencies. Its products and solutions continue to fuel cryptocurrency mainstream adoption.

MCO is the native altcoin powering the Crypto.com network. A number of exchanges offer support to the native coins, including Bithumb, Upbit, as well as Binance, and OKex. Being an ERC-20 token, MCO can be stored in any wallet that supports ERC tokens.

MCO Cryptocurrency cannot be mined. Instead, the coins are issued depending on one’s deposit in the Crypto.com app. MCO coins stored in the mobile app count towards staking benefits that determine the kind of MCO Visa Card one can apply.

MCO Visa Cards

Crypto.com has unveiled MCO Visa Cards, and Crypto Earn Interest accounts to focus on accelerating the world's transition to cryptocurrency. MCO Visa Cards are at the heart of Crypto.com push to link Visa cards and cryptocurrency accounts in various exchanges. Likewise, the array of MCO cards on offer are designed to make it easy for people to spend their cryptocurrency holdings on everyday purchases.

By pairing various MCO Visa Cards with the network’s wallet, users can spend their cryptocurrency holdings at over 40 million retailers around the world as long as they support Visa cards. The lists of benefits that come with MCO cards rival even the best of Visa rewards cards.

MCO Visa Cards are designed to offer users a wide range of benefits while using cryptocurrencies. With a simple swipe, users can access MCO tokens and use them to pay bills and do other things. The card's primary goal is to ensure consumers have increased accessibility to various cryptocurrency accounts.

The MCO Visa cards come packaged in tiers with varying features and benefits. Some of the general benefits that every cardholder stands to enjoy include

• Ease of use in 49 states across the U.S as well as Singapore

• Ability to use the card overseas in foreign currencies

• Competitive interbank exchange rates

• Free shipping and up to 5% cashback on purchases

The MCO Visa cards come in different shapes and designs with varying capabilities. The Midnight Blue card, for instance, requires no stake to acquire. The Obsidian Black Crypto.com Card, on the other hand, is ideal for people with mountains of cryptocurrencies that they would wish to spend on a number of things.

Midnight Blue MCO Visa Card

The Midnight Blue MCO Visa card is the most popular MCO Visa card for people getting started in cryptocurrencies. The crypto card stands out in part because its MCO Rewards stands at 1% on the card being used to pay for items. However, its limit when it comes to monthly withdrawals stands at $200 complimented by a $2000 interbank exchange rate limit.

Ruby Steel MCO Visa Card

For people looking to enjoy the benefits that The Ruby Steel MCO Visa card has to offer, they must have at least 50 stakes in the Crypto.com network. Likewise, the card accords users a 2% MCO reward whenever the card is used. Card users must contend with a $400 a month ATM withdrawal limit with a $4000 interbank exchange rate limit.

Royal Indigo MCO Visa Card

The Crypto.com card accords users 3% MCO rewards whenever the card is used. However, it requires 500 worth of stakes on application. Some for the added perks that the card comes with include LoungeKey Airport Lounge Access for cardholders. Its limit when it comes to ATM withdrawal stands at $800 a month as well as an interbank exchange monthly rate of $10,000.

Rose Gold MCO Visa Card

The Rose Gold, MCO Visa card, requires 5,000 in stakes on application. Likewise, users enjoy 4% of MCO rewards in all card spending and LoungeKey Airport Lounge Access. The Crypto.com card comes with a monthly withdrawal limit of $1,000 backed by an interbank exchange monthly limit of $20,000.

The card also comes with rebates on entertainment services such as Spottify, Netflix, Expedia, and Airbnb.

Obsidian Black MCO Visa Card

Obsidian Black MCO Visa card is a Crypto.com card for high spenders. For access, potential users must have a 50,000 in stakes. In return, the card offers 5% as MCO rewards on a person using the card to pay. It also comes with LoungeKey Airport access. It’s no fee ATM monthly withdrawal limits are pegged at $1,000. Unlike the other MCO Visa Card, it comes with an unlimited interbank exchange monthly rate.

MCO Private Feature

MCO Private is the latest addition to the MC Visa Obsidian Black card and icy Rose Gold cardholders. Launched in March 2020, the new service seeks to address the needs of high net worth cryptocurrency holders.

The concierge service accords card holder’s access to exclusive blockchain industry events. Likewise, cardholders enjoy advice to digital asset custody services as well as competitive investment opportunities. Users will also enjoy over the counter transactions and dedicated customer support with the addition of the new feature.

MCO Cardholders with the MCO Private feature enjoy an added 2% bonus interest for coins held in the crypto earn program. The feature also entitles cardholders to free Amazon Prime memberships and enhanced credit limits.

MCO Crypto Invest

Crypto.com has also unveiled MCO Crypto Invest, a new service that provides people a way of investing and trading cryptocurrencies. With the service, people can create customizable portfolios and trade cryptocurrencies in market signals. Crypto Invest also comes with a set of trading strategies that can be used in an array of markets.

Bottom Line

MCO Visa Cards has been one of Crypto.com's cornerstones in its bid to bridge the gap between cryptocurrencies and the mainstream financial sector. Its portfolio includes an array of cards offering a range of top-line benefits. The list of benefits on offer by the MCO Visa cards is sure to rival any of the best Visa reward cards.

Use my referral link by CLICKING HERE to sign up for Crypto.com and we both get $50 USD

Coil subscribers find out what I think of my Crypto.com Debit Card...

Mirror: A Fitness Startup That Might Be The Next Big Thing

The startup landscape has seen some major successes with companies such as Uber and Airbnb providing great rewards for investors that believed in them from the very beginning. It is thus no surprise that investors are always on the lookout for the big thing. Enter Mirror, a startup that is currently valued close to $300 million thanks to its unique product. But will this company be the next big startup? Let’s dive deeper.

What is Mirror?

Mirror is a new tech startup based in New York that mainly targets the fitness segment. The company sells full-length mirrors; thus, the product resonates with the name of the company. However, they are not the regular mirrors that you can pick up at the mall. It is a smart piece of technology that doubles up as a gym instructor and fitness tracker.

The Mirror features an avatar that is designed to provide fitness instructions and motivation. It can easily be used in the comfort of home, allowing the user to keep up with their fitness training and it even keeps track of data such as the calories burned during each workout. The Mirror also contains various fitness classes that users can follow, and they are optimized to make sure that they help the user optimize their fitness training.

The Mirror looks like the type of product that you would find in a SCI-FI film. The product retails for $1,495. The product features yoga exercises, cardio exercises, and even boxing exercises. This makes it an effective all-around tool that people can use to eliminate the need to go to a gym. It is particularly suited for individuals that prefer the privacy of working out from home, but they still want to get the most out of their home workouts.

Why investors are so interested in Mirror

Mirror managed to raise $38 million from its first round of funding, thanks to major shareholders such as BoxGroup, Lerer Hippeau, First Round Capital and Spark Capital, among others. It managed to raise more money through other funding rounds, and the closing round is expected to rake in around $36 million, thus pushing its valuation closer to $300 million. This ability to attract investors is not a fluke. It is because investors have realized that there is a largely underserved fitness market that has a strong demand for smart internet-connected fitness equipment.

This realization is thanks to Peloton, another startup that sells exercise bikes that are connected to the internet. The company is currently valued at $4 billion, and the bikes go for $2,245 per unit. With that kind of success and valuation, investors are looking for the next startup to invest in so that they can ride that wave of success. Many of them are confident that Mirror presents such an opportunity with its unique product, and thus jumping on board.

Another reason why investors are so excited about Mirror is that its product has attracted the attention of celebrities. Some of the celebs that have publicly talked about the Mirror include Gwyneth Paltrow, Jennifer Aniston, Reese Witherspoon, and Alicia Keys. This is exciting for the company and investors because recognition by A-listers usually boosts sales. It is also strong feedback and should thus work in favor of the company’s growth.

The business strategy

It takes a compelling business plan to attract investors. Simply having a product that has a high price tag and celebrity backing might not be enough. A business needs to prove to investors that it will continue to generate strong revenue even in the future. That is why Mirror's business strategy is not about just selling the smart mirrors, but it also features a subscription service through which users can access on-demand and live workouts.

The subscription service is expected to help provide a more engaging experience, and it is a pretty nice way of keeping users excited about using the product. This highlights the ongoing trend where there is a crossover between technology and fitness thanks to the internet. It would not be surprising if the Mirror has a social feature where an individual can keep track of their friends' workout progress and match it with theirs.

The company has not yet revealed how much it plans to charge for the monthly subscriptions. However, it does have a good edge for charging an attractive monthly subscription since the content can be tailored to the user’s preferences. The monthly subscription fee will likely aim to undercut the subscription fees charged by gyms and fitness centers.

Improving the fitness experience and moving beyond fitness

Mirror’s founder Brynn Putnam came up with the idea after realizing that there was a need to make fitness more exciting through the power of technology and the internet. The startup's founder pointed out that Mirror's goalMirror is to provide an enhanced human touch instead of replacing it.

A look at the Mirror and one cannot help but imagine it in a fashion boutique setting where shoppers use it to see how they will look in various attires. Interestingly, Putnam also had something similar in mind when developing the product. The founder also noted that they plan to extend the content provided on their product beyond the fitness segment. Some of the other areas where the company will focus on include education, beauty, fashion, and physical therapy.

Putnam stated that Mirror can develop personalized content in a variety of areas. They choose to start with fitness because it is one of the areas where the product is well-poised to gain traction.

So far, a notable number of startups have garnered success by introducing a fitness product or services that tap into technology to deliver an exciting take on fitness. Mirror has joined the list of such companies, and its Mirror product is definitely a robust offering. Therefore, it is no surprise that investors and users are excited about the product, and that is a great start for the company.

Coil Subscribers find out what this means to you...

Web Monetization: A Modern Take On Monetizing Web Platforms

The concept of website monetization has been around for quite some time, but it has mainly been implemented through ads and platforms such as Google’s AdSense. This is the monetization method that has largely prevailed, where websites generate revenue through ad placement. However, this approach is highly inefficient, especially for content creators who only get a small proportion of the generated ad revenue.

The shortcomings of the old systems have encouraged developers to go back to the drawing board to reimagine the concept of monetization with a more modern and efficient take. Enter Web Monetization, the result of the revised pursuit. Web Monetization is a JavaScript-based browser API that is designed to facilitate micropayments on a website, thus enabling a better monetization approach.

Why is Web Monetization a big deal?

Websites have, for the past few decades, existed without microtransaction features, which means that there was no way for content creators and website owners to earn, other than advertising. Web Monetization provides an alternative approach that will have the microtransaction API integrated within a website. This will provide content creators with an efficient means of being compensated for their content. If executed well, they might earn significantly more than they earn through ads.

This approach is particularly ideal for platforms where content creators can publish their content similar to how they would post content on YouTube. Imagine a platform where content creators post their content and users on the platform pay a small subscription fee on a monthly basis to view the wide range of content. The amount paid by viewers can be used to pay the content creators, and this would also eliminate the need to use pesky ads or at least to use ads in moderation.

For example, imagine a scenario where a regular subscription on such a platform is $5, which gives audiences access to the sea of content, but there are still some ads here and there. However, if you pay an extra amount for the premium package, you can access the ad-free version. This approach would be a win for everyone. Additionally, since Web Monetization is an API, and that means it can be implemented on different websites or online platforms.

Why is the approach making sense now?

Interestingly, Web Monetization’s existence is thanks to the existence of blockchain technology and cryptocurrencies. Monetizing content in a similar manner in the past would not have been possible due to the lack of a viable digital money option. However, about a decade ago, blockchain technology and cryptocurrencies were created, thus paving the way for new possibilities.

Cryptocurrencies make it significantly easier, cheaper, and faster to transact on the internet. They thus make a lot of sense as the viable means to facilitate the transfer of value or payments for content through tokenization. One of the major factors that are expected to facilitate Web Monetization’s success is Interledger. This blockchain-based platform facilitates the interaction and communication of different networks, thus solving the fragmentation problem.

The web monetization process

Now, because Web Monetization is tied into the interledger protocol, it will leverage various blockchain and cryptocurrency features. This includes web monetization wallets such as Stronghold, GATEHUB, and XRP Tipbot, which are designed to hold the digital currencies that will be used to monetize websites and digital platforms.

Web monetization also involves monetization services, and currently, the most common is known as Coil, which also has the Interledger Protocol as its underpinnings. The platform aims to help individuals and businesses shift from the traditional monetization practice of using ads to create an avenue where content creators get more value for their content. There are also monetization tools such as the Hugo web monetization component, which are designed to facilitate easier web monetization.

The different components in the monetization process, as mentioned above, are all important towards achieving the ultimate goal, which is to help websites and other online platforms to achieve maximum benefits.

User options

The fact that the Web Monetization is designed as a browser API is great because it means that the API can be integrated into any browser. It is also designed such that it is compatible with existing interledger protocols. The back end will not require any interaction with users, and the front end will allow users flexibility by providing options such as deciding which websites to support or how much to spend.

What this means for users is that Web Monetization will allow them to contribute to the content provider. Platforms like Coil are designed to allow subscriptions where users can pay as little as $5 to access a variety of content. This type of subscription fee would then be distributed to the content creators that publish their content on the platform. This allows the user to appreciate the content at a higher level.

Blockchain technology’s role in the fabric of events

As noted earlier, the Web Monetization API will be powered by the interledger protocol, which is underpinned by blockchain technology. This means that blockchain technology will be the engine powering the shift towards the changes in how we consume content in the future. This aligns with the expectations that blockchain technology has the potential to improve many aspects of technology.

It was previously not possible to create a system that would allow content creators to benefit in a more direct manner as opposed to the ads approach. However, thanks to blockchain and cryptocurrencies, such goals are closer to becoming a reality than ever before. Web Monetization is yet another development that aims to demonstrate just how useful blockchain decentralized ledgers can be.

Coil Subscribers find out what this means to you...

The Interledger Protocol And Its Role In Distributed Finance

The interledger protocol or the ILP that was developed the Ripple Foundation to facilitate cross-network payments. The idea to develop such a platform was inspired by the challenges that existed, especially when sending money from one platform to another. However, we must first go back a little bit further to understand why Interledger exists.

The early days of the cryptocurrency world and blockchain technology were quite exciting because they promised to usher in a new digital age. The goal was to deliver more convenience in transactions and a better money experience compared to what we are used to. The new technology also showed a lot of promise, and thus many companies jumped on board, each with their own version of a blockchain-based network.

Eventually, multiple decentralized ledgers from different blockchain-based developments came into existence. This was great for the creation of diversified products and projects aimed at tackling various existing challenges. For example, the traditional banking system is slow by today’s standard and thus the need for faster solutions. One bank may use a solution from one blockchain project while a different bank may use a product from a different blockchain startup. This type of defragmentation presented another problem.

Ripple developed the Interledger Protocol as an open protocol that would be used to link independent networks and enable cross-ledger payments. In other words, the protocol was created to enable interoperability between different blockchain networks.

Why interledger makes sense in the banking and remittance industry

Banking and remittance are two of the most sensitive sectors in the finance industry. However, the systems that they use are considered old and slow by today’s standards. As noted earlier, different banks have embraced different blockchain-based digital ledgers to facilitate transactions. However, the process of communicating from one ledger to another through connectors and also going through different protocols ends up being lengthy and expensive due to the complexities involved.

The Interledger Protocol is designed such that it leverages cryptographic escrow to facilitate the movement of funds across connectors. The cryptographic escrow allows funds to be locked when a transaction is involved between two parties. The funds are only released upon the fulfillment of various stipulated conditions. The system even facilitates a cryptographic receipt that the sender receives from the recipient. The money is sent back to the sender if the transaction conditions are not met.

The interledger protocol may also feature notaries that are used to validate or verify a transaction, and this type of implementation is called atomic mode. There is also a universal mode which does not feature notaries.

The best way to think of the interledger protocol is more like a station and the different blockchain networks as trains that go to different destinations. Banks and other blockchain projects benefit from the ILP because it allows them to communicate and facilitate transactions with other parties with less friction.

In a way, the interledger protocol was a great idea to eliminate some of the problems that emerged from the development of blockchain-based solutions. The need for efficient payments was one of the major drivers behind the project, while the need for transaction privacy and scalability were two key points of focus when Ripple started developing the ILP project.

The introduction of the Interledger Protocol allows banks to take advantage of the faster transaction speeds, scalability, and transaction privacy for customers. That is where the theme of cross-currency liquidity comes in, with the help of digital currencies.

XRP’s role in facilitating cross-currency liquidity

XRP is Ripple's native digital currency, and it happens to be among the top cryptocurrencies in the world. Unlike Bitcoin, which has no special use case other than speculation, XRP is used as a bridge between currencies on the Interledger Protocol. For example, when a bank uses Interledger to facilitate a cross border transaction, the money will first be converted to XRP before it is converted to the currency that the recipient expects to receive.

XRP thus plays a role in introducing speedy delivery into the mix. Banks would traditionally have to go through clearinghouses for transactions to be handed and reconciled. This made the process expensive and time-consuming. The same can be applied for cryptocurrency-based transactions where one blockchain platform is sending a particular type of digital currency to another blockchain platform. In such a scenario, the one cryptocurrency can be converted to XRP on the ledger for standardization purposes, and then it is converted into another digital currency before it is sent to the recipient.

The benefits of the Interledger Protocol go beyond banking and remittance

The beauty of blockchain technology is that it has many use cases. For example, the technology can be used to facilitate the issuance of certificates, governments can use them to create a system through which they can manage projects and ensure accountability. The possibilities are endless as far as the use cases are concerned.

However, where the governments or organizations using blockchain technology also need to interact with other parties, especially when conducting transactions. This interaction is not possible if each party has its own unique blockchain system. This is where the Interledger Protocol comes in the save the day by enabling the involved parties to interact. This might drastically improve how we use the internet because it will enable features that were previously not possible to achieve.

Summary

The idea of creating a ledger to create interoperability is one of the most significant breakthroughs in the relatively short history of blockchain technology. It means that businesses no longer have to worry about having to worry about being locked into one ecosystem or not being able to interact with supplies or other parties that might be on a different blockchain network.

The Interledger Protocol is certainly a positive step forward, and many projects recognize its potential. Some platforms such as StrataLabs and Coin have been launched on ILP underpinnings. For example, the two mentioned platforms use micropayments on Interledger, and these are just a few of the many other platforms that are already tapping into the Interledger Protocol's potential.

Subscribers find out what this means to you...

Earn Money While You Walk

For someone seeking motivation to work out or someone who is already fit but will wish rewards when exercising, then you should try Sweatcoin. The Sweatcoin app offers ways one can earn perk while working out or even when walking or climbing steps. The most intriguing aspect of Sweatcoin is that it lets you earn out of what you love doing and even encourages you to do more.

What is Sweatcoin?

Sweatcoin is a cryptocurrency that one can earn while running or walking through n app. You will need to download the Sweatcoin app and ensure it is running on your phone always to keep track of your steps so that you can earn sweatcoins (SWC). The apps will track all your outdoor steps, and for every 1,000 steps, you will receive 1 SWC.

The concept behind Sweatcoin is to incentivize you to start working out and convert your steps in SWC. Besides becoming fitter and healthier, you will make some coins that you can redeem for gifts. The Sweatcoin is on Android and iOS smartphones, as well as wearables.

What can you use Sweatcoins for?

As you walk or run, you will add more SWCs, and the interesting part is that they are redeemable. You can immediately spend your coins on offers that please you, such as magazine subscriptions or music download. Alternatively, you can accumulate the coins and redeem them for items such as shoes, watches, game consoles, airline miles Amazon credits, and many more.

The app has been adding several new offers in recent times, which include Amazon cards, food boxes, PayPal, and many more. The offers keep changing depending on the deals that Sweatcoin has brokered with retailers. You can see all these offers on the Sweatcoin app.

How Sweatcoin works

The first step in your journey to earning SWC is downloading the app, and then you embark on walking to accumulate the coins. The app has to be running in the background so that it can register the number of steps you make to reward you. The app rewards you 0.95 sweat coins per 1000 steps. The app tracks only walking and running, so other activities such as swimming and bike riding will not earn SWC.

Most importantly, the app keeps track of outdoor steps, which means that if you are doing steps in a gym or you run on a treadmill, that will not count. However, there are reports that the app can record steps in the house. The main reason for the restriction of earning of SWC to outdoor activity is to avoid hacking the system. However, the company indicates that it is creating an algorithm that will address this issue.

How to earn more SWC

You can earn SWC through walking, daily rewards, or through referring friends. After you sign up, you receive the free Mover account that you can use freely forever. The Mover account is limited to only 5 SWC per day, which means you can only make around 150 SWV monthly. Always keep in mind that there is a 5% conversion commission on the SWC you earn.

However, you can have more than 5,000 steps per day and earn more SWC, but this is only for a paid membership. The app makes money through the paid subscription through which users can make more steps and earn more.

Shaker Level: After the Mover account, there is the Shaker account that costs 4.75 SWC per month. With this account, you can make up to 10,000 steps a day and earn 10 SWC/day, which is 300 SWC/month.

Quaker Level: For only 4.75 SWC per month, you can earn 15SWC/day for making 15,000 steps and around 450 SWC every month.

Breaker level: This is the extreme level for people who work out more, making more than 20,000 steps a day will earn you 20 SWC and around 600SWC each month.

Besides walking or running, you can make money through daily rewards by watching ads on the app. It is easy to get the reward you will go to the marketplace on the app and click “Claim Reward” under the reward module and then watch an ad from start to finish. After completing watching the ad, you earn 1 SWC. Also, there is a referral program where you can invite a friend and get rewarded with 5 SWC, and there is no limit on the number of friends you can invite.

Limitations to earning SWCs

The biggest drawback of the Sweatcoin App is that you have to turn on your GPS so that it can track your movement. This can impact your battery because the app is always running on the background. Sweatcoin warns you that your battery life will be adversely impacted by the app when you allow it to track your movements. Although the app has a saver mode for the battery that it defaults on, download users indicted that the app consumes much of the battery power.

Since it tracks outdoor steps, you have to be with your device if you forget it you are unlucky, and you won't earn. Also, for people who like going for runs without a phone, there is no way currently that they can sync the Sweatcoin App with fitness trackers or smartwatches.

Also, the motivation to earn Sweatcoins can turn into an obsession where you want to quantify every aspect of your life, especially in terms of health. People will become obsessed about earning more Sweatcoins as indicated by a 2015 study that showed 200 women who were using Fitbit were influenced in decision making by the activity trackers. According to the study, around 95% of the participants had to increase the amount of physical activity per week.

There is also the thorny issue of tracking, so if you are someone who doesn't want to be tracked, you are better off with your GPS turned off. This means you cannot earn Sweatcoins because the app will not be able to track your steps.

Coil Subscribers find out what this means to you...

Benefits-Based Wellness Programs Benefits All

Benefit based wellness programs are incentivized initiatives that employers implement to promote the maintenance of health and well-being among their employees. Some employers incentivize physical activity to workout or use pedometer, offering fruit baskets or healthy lunches, provision of preventive health screenings, on-site fitness, and gym services as well as giving employees wearable physical activity trackers. It is important to keep employees healthy and having a corporate wellness program can help employers in improving the work environment.

Wellness programs in the workplace are relatively new trends considering up to the 1970s such programs were non-existent. There is a lot of skepticism on the benefits of a wellness program industry but as it turns out there are several benefits with the company and the individual standing out to gain from such a program. If implemented correctly the programs can offer employees social support, tools, incentives, as well as strategies to help them in adopting to work environment and maintaining healthy lifestyles.

Despite starting as employee incentives in large companies, wellness programs have grown to be popular for small-sized, medium, and large companies. Currently, wellness programs in organizations are popular than ever. A study by the Society for Human Resource Management indicated that around 75% of organizations offer some form of wellness program to employees. Interestingly the question that is often raised are the wellness programs funded especially in a demanding economic environment.

How benefit-based wellness programs funded

Increasing the contributions of employees to healthcare programs and then offering them a chance to earn incentives for taking part in a health and wellness program is one-way companies can fund the program. Through this strategy, employers can make upfront savings on healthcare expenses through an increase in the amount employees pay in premium. As a result, employees exercising regularly and having healthy lifestyles could pay less and those who don't will bear the financial burden.

Alternatively, an employer can offer employees an affordable consumer-based health plan besides HAS or HRA. According to statistics around 54% of organizations offer this kind of plan where the employer will take some of the savings from the plan and contribute to HAS and part of the amount can go into funding the wellness program. With this sort of plan employers offer employees an opportunity to earn benefits on their good behavior which is deposited into their HAS accounts.

Also, a company can have a highly-deductible plan that is accompanied by a HAS. The organization will contribute to the account and employees have an opportunity to earn an extra $1,000 to the account by taking part in the Virgin HealthMiles Program. Employees constantly keeping healthy and exercising gets the chance to earn a considerable amount to their deductible.

Benefits of wellness programs to the company

Minimizing Health costs

Having a wellness program in a company can help reduce healthcare costs. Normally employers will subsidize the health insurance of its employees and since a wellness program will lead result in healthier employees then the costs of paying for healthcare will be reduced. An analysis of studies looking at the correlation of wellness programs and healthcare costs established that there is an average ROI of 3.27. This means that a company will save $3.27 on every dollar used in a wellness program because of lowered healthcare expenses.

Enhanced productivity

Wellness programs can result in higher productivity and according to research published in the Journal of Occupational and Environmental Medicine people who engage in wellness programs end up saving the company around $353 annually in recouped productivity. Similarly, several studies have shown that organizations that encourage employees to engage in wellness programs increase productivity.

Employee retention and easier recruitment

Having a wellness program can help a company deal with issues of employee turnover as companies with such programs are unlikely to experience leaving of employees compared to those without. According to a study by the American Psychological Association, only 25% of employees in organizations with wellness programs indicated they could leave their job compared to 51% in those that don’t have a wellness program.

Also having a wellness program helps an organization to be competitive when it comes to recruitment because it enhances the company brand. A Virgin HealthMiles study established that 87% of employees considered organizations having a wellness program when picking an employer.

Enhancing organization culture

Implementing a wellness program can positively influence the culture of the company. A study by Workforce Management Magazine and Virgin HealthMiles established that 77% of employees feel that wellness programs can influence organizational culture. This is because employees can come together and enhance their relationships and also they will feel that the company cares about them.

Benefits of wellness programs to employees

Increasing adaptability

According to Gallup researchers, wellness programs can enhance adaptability in employees by up to 45%. The work environment is constantly changing and that requires employees to adapt to changes and therefore programs that will enhance adaptability will benefit the company. With wellness programs employees can be more engaged and can adapt to changes and thus increase their productivity.

Enhanced engagement

Evidence shows that wellness programs can enhance employee engagement which can lead to improved productivity and enhanced retention. Having a wellness program will engage and benefit employees beyond their workstations and this will easily feel that the job is important in their lives. This means that the employees are likely to hold unto one job over the long term.

Reduction of depression and stress

A wellness health program could lead to reduced depression because the social interaction among employees can enhance positive feelings. Similarly, a wellness program that emphasizes meditation can reduce workplace stress. Stress is a major occurrence and it does not affect the individual only negatively but also the company.

Minimizes absenteeism

When there is a wellness program in a company, employees will enjoy coming to work to get the feel of interacting with friends and co-workers. Physically healthy employees tend to be happier and that translates to an increase in productivity. Such employees are less likely to miss work without a valid reason.

Coil Subscribers find out what this means to you...

What is Conditioning?

In behavioral psychology, Conditioning is a concept whereby a response can be reformed through an iterative feedback process. Conditioning can have two effects on a response, either the given stimulus can efficiently induce a response, or the response can occur with growing regularity in a steady environment. The response depends on the kind of reinforcement used. Conditioning is of two types: Classical conditioning and Operant conditioning (McLeod, 2015). Operant and classical conditioning are the basis of behaviorism.

Classical conditioning involves associating an involuntary response and a stimulus, while operant conditioning is about associating a voluntary behavior and a consequence. Operant conditioning can feasibly work if the respective behavior can be disciplined through rewards or punishments. Classical conditioning works better when an association can be formed from a naturally occurring incident. It had an significant impact on psychological therapy and understanding animal behavior (Grant,1964). Presently, both classical and operant conditioning are used by psychologists, parents, teachers etc.

Classical Conditioning

Classical conditioning is the base of the learning process. Ivan Pavlov conducted an experiment on the salivation response in dogs. A conditioned stimulus is linked to an unconnected unconditioned stimulus, to illicit a conditioned response. The key principles of Classical Conditioning include all these elements encompassing the initial formation or disappearance of a response. These principles are essential to understand the classical conditioning process (Goemezano & Moore,1966):

1. Acquisition

Acquisition is first stage of learning when a response is first recognized and slowly reinforced. In the acquisition phase, the neutral stimulus is constantly linked to an unconditioned stimulus. The unconditioned stimulus which was naturally activating a response without learning. When a link is established, the subject will start to produce a behavior as a result of the previously neutral stimulus. Also, termed as the conditioned stimulus. Hence, a response has been acquired.

2. Extinction

Extinction is when the incidences of a conditioned response declines or completely disappears. It occurs when a conditioned stimulus is not paired with an unconditioned stimulus anymore.

3. Spontaneous Recovery

When a learned response can abruptly recur even after extinction. It is the re-emergence of the conditioned response after a break.

4. Stimulus Generalization

Stimulus generalization is the possibility that a conditioned stimulus can induce similar responses for unconnected objects. For instance, a child that fears a white mouse, may also fear other similar white fuzzy objects.

5. Stimulus Discrimination

The Stimulus Discrimination is the capacity to distinguish between a conditioned stimulus and other stimuli which are not paired with unconditioned stimulus. For instance, understanding the difference between bell tone and other comparable sounds.

Operant conditioning

Operant conditioning is a technique of learning that is reinforced through a feedback loop by rewarding or punishing a behavior. Operation Conditioning connects an association between a specific behavior and a negative or positive reaction. This conditioning is a kind of associative learning process used to modify behavior (Honig & Staddon,1977).

Operant conditioning has five basic processes (Honig & Staddon,1977):

1. Positive Reinforcement

The Positive Reinforcement positively affects in strengthening a behavior. A positive stimulus is used, and positive reinforcer is added. A positive reinforcer is supplementary which grows the frequency of the response.

2. Negative Reinforcement

The negative reinforcement strengthens a behavior through an aversive stimulus with reinforcer being detracted. There are two kinds of negative reinforcement: Avoidance and Escape. Avoidance can be learnt when escape has already been practiced.

3. Response Cost

Response cost is when a behavior is weakened by removing a positive stimulus. It deteriorates the occurrence of the response.

4. Extinction

The lessening of the frequency of the response causes the behavior to fade away completely causing extinction.

History

Ivan Pavlov’s work on Classical conditioning was published in 1897. He was working on digestion when he accidentally found the phenomena of “psychic reflexes.” He studied conditioning by experimenting with dogs. Pavlov detected that the dogs drooled whenever they were given meat. In separate gastric tests, he found that the dogs salivated not only when they were given meat powder but also if the person feeding them came into close proximity with them. It was a clear case of classical conditioning as the dogs had been unintentionally trained to link the person feeding them with the food. It was termed as a stimulus-response (McLeoad,2007)
.

John B. Watson also used Pavlov’s research work and used it on humans. In 1921, he used an 11-month-old baby and conditioned him to become scared of a white rat by coupling it with a loud, noise. The repeatedly pairing not only developed a fear of rats in the baby but also the experiment proposed that classical conditioning can induce phobias in humans (Watson,1957). His theory also influenced Edward Thorndike who found law of effect that actions which have desirable results are repeated in comparison to the ones with undesirable results (Galef,1998).

These behavior psychology theories were followed by B.F. Skinner concept of Operant conditioning, which was based on Stimulus-Reinforcing concepts. He explained that reinforcing actions, makes them stronger and more probable to happen in the future (Skinner,1971).

Positive Reinforcement

Positive reinforcement occurs when a behavior has desirable outcomes; such actions will be strengthened. For instance, if a rat presses a button and gets a treat in return; he will start pressing the button more; hence the term Positive Reinforcement (Baron & Galizio, 2005).

Negative reinforcement

Negative reinforcement occurs when an unwanted behavior is punished; weakening it, so that it won’t take place again. Negative reinforcement takes places when a stimulus is removed or results in undesirable effects. The subject unconsciously perceives the effect produced by the stimulus. For instance, when students are told that they won’t get a break if they don’t complete their work, they treat this threat as a negative reinforcer eliciting the desired bahvaioral effect (Baron & Galizio, 2005).

Application in real life

Positive and negative reinforcement is used in daily lives to modify human behavior. For example, positive reinforcement is used to reward children helping them behave better or using praise as encouragement for students to help them perform better in class. Similarly, Negative Reinforcement is used when a child does his chores to avoid nagging (aversive stimulus). Or when John stops touching hot iron after burning his hand. Joe presses a button (behavior) that turns off a loud alarm (aversive stimulus).
Coil Subscribers find out why this matters to you..........

Leading And Lagging Indicators: Understanding Their Importance, Characteristics, and Differences

Every business or organization uses various performance measurements to determine its performance in various segments of its operations, as well as its overall performance. In the business world, those metrics are divided into two categories, namely leading and lagging indicators.

What is a leading indicator?

This is any type of measurement in business operations that is expressed in the form of an estimate or prediction. In other words, this type of measurement is all about making estimates of future performance and that is why leading indicators are performance estimates. The fact that these types of measurements are estimates means that they are difficult to measure. Leading indicators are ideal especially in cyclical markets where most of the factors especially both internal and external are known, therefore allowing for a high degree of predictability.

Companies like Apple or Samsung use leading indicators to estimate smartphone sales based on market share, historical performance, and other factors. Note that often times the actual outcome usually comes close to the estimated figure either by a slightly lower or higher margin. This highlights the focus on predictive measurement.

This type of information allows a company to decide whether to distribute more of its products or less depending on the anticipated level of demand. This means that a leading indicator allows for the change of behavior in the observed aspect of a business or organization. This also means that it somehow facilitates some flexibility.

What is a lagging indicator?

Lagging indicators are typically any type of measurement in an organization or business that provides information on something that already happened. This type of metric is ideally used to measure or compare the performance of one organization or its product with other rival organizations. This is the type of indicator that is used to measure a company’s output.

One of the most notable things about the lagging indicator is that it is can easily be measured. The fact that it measures things that have already taken place means that it is a more accurate measure of the organization or business’s performance. On the downside, since it measures past events, this means that a lagging indicator does not allow for a behavioral change. This means that the outcome of the measurement is fixed and cannot be changed since it already took place, thus I cannot be changed to fit particular criteria.

Why are lagging and leading indicators important?

Both lagging and leading indicators are important metrics for most businesses out there and for good reasons despite some of their individual shortcomings. The two indicators are important measurements because they help the management to understand how the business is really performing. This also helps them to develop strategies through which they can improve the performance of the business in the future.

It makes sense to use both the leading and lagging indicators when planning on future improvements. This is because you need to look at the past performance to determine whether it was a good performance or a lacking one, thus the need for lagging indicators. You also need the leading indicators so that you can project the future performance based on various input adjustments.

A business that is able to integrate leading and lagging indicators is better positioned to achieve success. Note that some indicators can be both lagging and leading indicators. A good example of such is where a company’s human resources department is able to hire highly skilled individuals. In this case, it would be considered a good lagging indicator because the HR department managed to secure the top talent.

On the other hand, it is a leading indicator because it is a step aimed at facilitating better success in the future. Hiring the best manpower means that the company is on the right path for cost efficiency especially relative to the value or quality of work that the employees deliver, assuming they perform as expected.

The two indicators are ideal for anyone that is building a strategy for business performance management. The latter should focus on a variety of aspects for it to reach peak efficiency levels. For example, cost efficiency and customer satisfaction are two important aspects of any business and leading indicators happen to be the best indicators when aiming to achieve those two aspects. However, leading indicators do not show how the business will achieve its objectives or warnings that the strategy is deviating from the objectives. This is why it is important to combine both indicators for the optimal view.

Both lagging and leading indicators are important when picking the measures that will help the business owners to keep track of their business objectives. Each has a cause and effect and this helps to achieve some balance. Often times people choose lagging indicators because they are measurable and they act as a good reference point since they highlight the past performance. However, the leading indicators are just as important and thus the need to make sure that both indicators are considered in the business management process.

Coil subscribers find out why this matters to you...