Move to Earn would like to introduce “STEP”, an application that allows BNB to earn money at the same time as the standard STEPN.
How is it different from STEPN? How much money can be earned? We will explain how STEPN compares to STEPN.
Of course, even people who haven’t done STEPN can do it.
- “STEP” is a super simple move to earn application.
- What is the difference between STEPN and ”STEP”?
- Risks in starting STEP
- About STEP’s Rewards
“STEP” is a super simple move to earn application.
The way to earn money with STEP is insanely simple.
The following three steps will get you ready to earn.
②Works with Google fit (android) or healthcare (iOS)
③Works with wallets containing more than 20,000 STEP tokens
What is the difference between STEPN and ”STEP”?
How to use the application
STEPN requires you to start the app, press the START button, and then press the STOP button when you are done.
It is also complicated by various factors, such as shoe level up or mint.
On the other hand, “STEP” counts the number of steps in the background as long as the initial settings are completed, so there is no need to start the app.
Therefore, as long as you always have your smartphone with you in your daily life, all your steps will be counted and you will be eligible for rewards.
Amount of money earned
Here are the reward amounts for April 13-17, 2022.
1 BNB is about 48,000 yen, so I earned 238-528 yen per day.
And since this can be earned at the same time as STEPN, it’s a tasty reward if you think you’re earning along the way.
It may be a small amount, but it is enough to cover the fees for using the BEP20 chain for DEX and blockchain games such as pancake swaps.
If you are a frequent user, I recommend you to buy a small amount of BNB and send it back so you don’t have to go through the trouble of transferring money.
Risks in starting STEP
I will explain the possible risks if we were to start STEP.
Risk of STEP token crash
Well, this is not limited to STEP, but there is a risk that the value of the currency will fall.
It has soared in the last few days and as of April 18, 2022, it was at $0,01944.
(Seems to be due to the declaration of advertising on all New York City subways.)
So, to buy 20,000 STEPs, you need about $49,000.
Compare this to the amount of money you can earn from the STEP app and you have to deal with the risk of a price drop.
The STEP application itself is rubbish.
If the application is no longer operating successfully, the rewards would decrease.
If the rewards decrease, users who hold on to their STEP will start selling it, increasing the risk that the price of STEP will drop.
Currently, STEP is on the upswing, but the amount of compensation paid overall does not seem to be profitable, even though it is being adjusted, so I look forward to future developments based on this point.
About STEP’s Rewards
The STEP rewards are a bit complicated and I will try to explain the mechanics.
Conditions for becoming eligible to receive rewards
First of all, here are the conditions to receive the reward. Official announcement (translated from Japanese)
Perhaps it is around 5 or 7 that those who are not receiving rewards seem to be tripping up.
First, you need to walk at least 4,000 steps per day to receive rewards.
Also, you do not need to run the app in your daily life, but you do need to sync the Move data stored in your health care or Googl Fit to STEP.
Therefore, it is necessary to launch the app once a day for the data to be compiled (around 23:00 pm Japan time).
Synchronization is automatic when you start the app.
If you forget to do this, you will not be paid, so we recommend that you start the app once when you think you will not walk anymore today.
Is the amount of compensation decreasing?
Sometimes the actual amount of rewards received is less than what was confirmed when the synchronization was done.
This happens because all STEP users share the reward pool that STEP has prepared for the day.
For example, if you see a reward of $10 when you look at it in the morning, but many people move in the afternoon and meet the reward requirements, your share will be relatively reduced.
Similarly, if you walk the same number of steps every day, your reward will change from day to day.
Please be assured that this does not mean that the management is reducing the amount of reward on its own.
How is the amount of compensation determined?
STEP has not revealed clear criteria for determining compensation, but they did disclose data related to compensation decisions.
Here it is (Japanese translation of STEP’s official TEREGRAM announcement)
My personal experience is that I was rewarded more on the day I ran than when I walked, so I expect that “the longer the distance, the better, and the higher the heart rate, the better”.
This is my introduction to STEP.
I think it is a good idea to start if you have money left over after earning from STEPN.