Where and how to buy Stepn (GMT)
Stepn is a unique game in which each player earns tokens for moving around outdoors – as verified by their smartphone GPS system.
It starts when you download the Stepn app for iOS or Android. To start playing, you must use the app to create a Stepn wallet and transfer some Solana SOL coins to it – enough to purchase a virtual sneaker representing your fitness level and ambition plus gas fees. Once you’ve got SOL in your account, you can visit the Stepn marketplace and purchase a Sneaker.
Each sneaker has different attributes: durability, speed, repairability, luck, comfort, resilience, and so on.
Once your account is established, you’re ready to start earning in-game tokens for being active. You’ll earn one Green Satoshi Token (GST) for every five minutes of activity. Once you have reached level 30 within the game, you can switch to earning Green Metaverse tokens, or GMT.
The game has anti-cheating features, randomly awarded prizes, integration with social media, and many more features to encourage players to earn more tokens and be more active.
STEPN guide
Learn how the move-to-earn game works and how to get a STEPN activation code.
Navigate Nfts
STEPN is a lifestyle app that combines real-life activity and Web3 technology to create an interactive gamified experience. Users earn rewards by walking, jogging or running outdoors. But first you’ll need to purchase a suitable NFT Sneaker. The app aims to incentivize people to live healthier lifestyles by rewarding them for movement through its utility token, GST.
Highlights
- Move and earn rewards
- Sneaker marketplace open — rental coming soon
- Shoe-minting events
- Invite-only game
What is STEPN?
STEPN is a relatively new lifestyle app using Web3 technology and the blockchain to create a game experience where users are rewarded for movement. Users purchase NFTs in the form of sneakers and record their movement outdoors to earn the in-game currency, Green Satoshi Token (GST).
At present, STEPN is invitation-only. You need an activation code in order to play the game. Activation codes are limited in number and can be hard to come by.
There’s a high cost to getting started. In order to play the game, you have to purchase a suitable NFT sneaker to earn rewards. Players need to combine their preferred method of movement — walking, jogging or running — with the right NFT sneaker in order to maximize returns.
NFT sneakers can only be purchased using Solana (SOL). Prices vary depending on market conditions and sneaker type.
Players must record their movement using GPS and hit the optimal speed range for their sneaker type in order to earn GST. The utility token can be used to level up the sneaker to make it more efficient, mint a new sneaker or swap to the stablecoin USDC.
STEPN also has a marketplace where users can buy or sell NFT Sneakers. Eventually, the marketplace will offer sneaker rentals, which will open the game to new users.
How to get started with STEPN
Getting started with STEPN requires some knowledge of Web3 and how cryptocurrency works. You’re required to use SOL to purchase a sneaker, and you’ll need to be set up with a crypto exchange to transfer cryptocurrency to your in-app Wallet.
Here are steps you need to take to start earning:
- Download the STEPN app from the Apple App Store or Google Play Store.
- Sign up for STEPN using your email address.
- Key in the verification code sent to your email.
- Enter your STEPN activation code.
- Create a new wallet by selecting the wallet icon in the top right-hand corner of the screen.
- Transfer SOL to your in-app wallet.
- Purchase a Sneaker via the Marketplace using the SOL in your in-app Wallet.
- Wait for your first 25% energy restoration, which happens every six hours.
How to get a STEPN activation code
STEPN limits how many people can join its ecosystem each day. It does this by requiring new users to have an activation code in order to join. But these are relatively tricky to get.
Due to overwhelming demand, there are only a limited number of activation codes released each day. Existing users can earn one activation code for every 10 Energy spent, but they can only hold one at a time.
Here are the best ways to get a STEPN activation code:
- Ask an existing user. If you know someone who’s already using the game, ask them to send you an activation code.
- Get a daily code on Discord. 1,000 Activation Codes are available via Discord each day.
- Get a daily code on Telegram. 1,000 Activation Codes are available on Telegram each day.
- Search for codes on social media. People share their activation codes on social media sites like Twitter, Instagram or Facebook. Sign up to community groups in order to keep an eye on the discussion channels.
- Apply via the influencer code generator form. If you have a large following on social media, you may be eligible to apply via the influencer code generator form. You can receive 10 codes for every 1,000 people who follow you.
What is the STEPN token?
STEPN has two tokens: GST (Green Satoshi Token) and GMT (Green Metaverse Token).
GST has an unlimited supply and is earned when a user completes a movement using the app. You can use GST to repair your Sneaker, «level it up» or mint a new Sneaker. You can also swap your GST for USDC, which can then be converted into fiat currency.
GMT is STEPN’s governance token. It has a total supply of six billion. It’s mainly required for upgrades in the game, but it requires you to reach a level of at least 30 before you can earn it.
It looks like GST may not be available to purchase on an exchange in the US.
You can still purchase GST by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.
Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you’re unfamiliar.
How to purchase GST using a decentralized exchange.
- Find GST on a decentralized exchange and make sure GST can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for GST using an exchange like Gemini. You will need to purchase enough ETH to swap for GST as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for GST on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalize and the GST tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
How does move-to-earn work with STEPN?
The main attraction of STEPN is its move-to-earn game. Similar to play-to-earn, it gives users the opportunity to earn crypto through movement.
In order to earn, users must first purchase an NFT Sneaker that fits their fitness level. Choose from Walker, Jogger, Runner or Trainer. The Sneaker you opt for affects how much you can earn through movement.
There are several ways you can earn in the game:
- Movement. The main way to earn is through walking, jogging or running. Every one Energy equals five minutes of movement.
- Owning multiple Sneakers. You’re able to purchase and own multiple Sneakers in order to boost your earning potential.
- Purchasing better shoes. There are multiple Sneaker types. Higher quality sneakers enable you to earn additional energy.
- Leveling up your existing Sneakers. If you want to improve your existing Sneaker, you can use GST to level up its quality.
Once you choose your NFT Sneaker, you can get moving and earn rewards. However, there are a few things that may affect how much you can earn:
- You need a strong GPS signal. If your GPS signal drops out or is low, you won’t earn anything for your movement.
- There are caps on earning. There are daily energy caps (20/20) and daily token caps (300 GST and 15 GMT) in place that restrict the amount of Energy and tokens you can earn each day.
- You must stay in the optimal speed range. If you go above or below the range for your chosen Sneaker, your earning could be reduced up to 90% depending on the speed discrepancy.
Mystery boxes
There is an added element to the game where users can use Gems to unlock Sockets and enhance their Sneaker Attributes — in turn increasing their Sneaker’s earning potential.
A Mystery Box could be randomly dropped while you’re completing your movement. It contains Gems, but there’s a small base cost in GST to open it. So it’s up to you whether you see value in using your GST to access Gems.
What are STEPN NFTs?
The game is based on the purchase of an NFT Sneaker. Sneakers vary by quality and earning potential. Plus, each Sneaker has a limited lifetime before requiring repair, so take maintenance costs into consideration.
Sneaker Qualities
Within the game, each NFT Sneaker has a quality or rarity level. When a Sneaker is minted it’s randomly attributed minimum and maximum values which determine its quality status:
- Common: minimum 1, maximum 10
- Uncommon: minimum 8, maximum 18
- Rare: minimum 15, maximum 35
- Epic: minimum 28, maximum 63
- Legendary: minimum 50, maximum 112
Level up your Sneakers by burning GST. At level-up, users attain four to 12 additional Attribute points to assign according to their Sneaker quality.
Sneaker Attributes
Alongside quality, each Sneaker has a set of Attributes that influence the earning potential of that NFT. They are broken down into four categories:
- Efficiency. Having a higher Efficiency Attribute results in better GST earning per Energy spent.
- Luck. This determines the frequency and quality of a Mystery Box drop.
- Comfort. This attribute boosts GMT earning.
- Resilience. Focused on the Sneaker’s durability, a higher Resilience Attribute results in a slower Durability decay.
How to get NFTs on STEPN
At present, you can get a Sneaker NFT through STEPN’s in-app marketplace. But there are a few costs to consider:
- Cost of the NFT Sneaker. How much the Sneaker costs depends on the quality of Sneaker you purchase. For one regular Sneaker with good basic parameters, the cost is around 10 SOL. So it’s not cheap.
- Fees. STEPN calls it a «tax,» but there are fees attached to in-app activities, including: a marketplace trading fee, marketplace royalty fee and shoe minting.
- Repair costs. Each NFT Sneaker has a limited lifetime. As you move, your Sneaker’s durability decreases, which means your earning potential drops. You can use GST to pay for repairs on your Sneaker.
Rental system
STEPN plans to introduce a rental system that allows users to lease their Sneakers out. Those looking to get started with the game would then be able to rent a Sneaker from the in-app Marketplace. Each rental contract will last 24 hours and earnings will be split 70/30 in favor of the owner.
How to mint STEPN shoes
Users of the game are able to mint STEPN shoes, also known as a Shoe-Minting Event (SME). You can use two Sneakers to «breed» and produce a Shoebox, which opens to reveal a Sneaker.
There are costs associated with Shoe Minting, with the price of GST dictating the amount of the utility token and the subsequent amount of GMT needed for minting. How many times a Sneaker has been used for mining influences how much GST/GMT it costs to mint.
How to sell or lease STEPN NFTs
Sell your STEPN Sneakers through the game’s in-app Marketplace. Sellers set the price, and are charged a 2% trading fee and a 4% royalty fee that goes to STEPN. All transactions are conducted in SOL.
You can change the list price of your NFT Sneaker after it’s been listed to give yourself the best possible selling opportunity.
About STEPN developers
STEPN by Find Satoshi Lab emerged from the Solana Ignition Hackathon in 2021, finishing 4th out of over 500 projects. Its cofounders are Jerry Huang — who brings a decade of game development experience — and Yawn Rong, a crypto angel investor and entrepreneur.
It also has experienced advisors on board, including Adidas VP Scott Dunlap, and William Robinson, Head of Accelerator at Alliance.
Compare marketplaces to buy and sell game NFTs
Bottom line
STEPN takes the Play-to-Earn concept one step further with its Move-to-Earn model. For those who like to be active, it offers a way to earn simply by setting out on your daily jog.
However, the price to get involved is high. STEPN’s NFT Sneakers aren’t cheap, starting at around 11 SOL. Players would need to do a lot of running to make back the initial investment. There are also repair costs to consider and fees attached to trading on the marketplace.
Overall, STEPN is an interesting concept. But with a high monetary value attached to getting started and a complicated onboarding process, it’s probably best left to experienced GameFi enthusiasts looking for a new challenge.
Sources
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Step: Build Credit Get Rewards 4+
Ok so .. I was in need of a credit card because I hated carrying cash because sometimes I never knew how much to bring and I never want to bring it all because I don’t want to lose all my cash and I started looking for banking for teens .. I came across green light but it didn’t work for me .. I came across step from Charli Damelios tiktok and I checked it out .. it literally took me 10 minutes to sign up and get my mom on board with it .. u can hook it up to your Apple Pay & etc .. I’ve been buying door dash , shein & etc with this card .. even though my card hasn’t came in yet .. the catch it you get a virtual card to use until your physical card comes in .. and this was extremely helpful .. so since all the adults I get money don’t have step .. they cash app it to me & then I cash it out & it deposits it straight to my step account even thought I don’t have a bank account .. so yea I recommend this app I’m in love !!
appleoly , 03/10/2022
I need help logging in
Hello step! Recently I started to use this app and I love it, but my main concern is the log in options. I just want to know why there is only one option for logging in. Recently I had to reset my Apple ID which caused me to have to log into everything, and yes even though it’s quite irresponsible of me, I used the opposite of my main gmail to log in just in case it wasn’t legit. When my phone got reset, my gmail accounts did also. The account I signed in with, I can’t remember the password or name of the account. I’m currently experiencing money problems and if I can’t log into my account, I’d just have to go to another app. Im honestly really worried because I currently have money on there. I don’t know if you can but I was wondering if you guys could change my email. I tried to do it from the outside but even then it wasn’t working. I’m seriously concerned and really worried because now and days no one really carries cash which means I have to adapt. Btw, my phone number to the account is my actual phone number but the gmail isn’t. I thought that I could find some sort of way to get a verification sent to my phone number but I just couldn’t.
Developer Response ,
Hi there, we’re sorry to hear you’re having trouble with getting back into your Step account. We can check into this with you! Please send us a message via your Step App, or through email at hello@step.com. We look forward to getting you logged in with Step again! ������
brklyn. , 04/28/2022
My Money Was Stolen
I have been banking with Step for nearly a year now. I loved this bank until recently. A couple of weeks ago, I don’t know how but my virtual card information was stolen and used to make a $40 purchase with a company located on the other side of America from me. I opened a dispute, which was closed after a “thorough investigation” concluded that the transaction was “fully authorized” by me. I made several complaints pressuring the dispute to be reopened. I am a high school student-athlete, and a graduating senior. I am already very tight on money having to prepare for prom and graduation, and I do not have a job or source of income considering I am a full-time athlete. An internal transfer for “Account Recoupment” led to the $23 and change of my remaining balance being taken from me by Step. My balance is now $0.00. Apparently Step contacted the company the unknown transaction was made with and got me a refund. The refund is $25 and change, not the full $40 amount. I am extremely upset. I don’t even know where the refund will be sent to, if not my account sponsor’s card. I hope my experience helps any of you make a decision before downloading this app and begin banking with Step.
Developer Response ,
Hi brklyn., we appreciate you taking the time to write a review. We are happy to take a look into the dispute that you’ve filed and see what exactly is going on with the charge along with the $23 account recoupment transfer you’re seeing in your app. Please send us a chat in your Step app or write to hello@step.com so that we can take a further look into this with you.
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How to Get a Credit Card: A Step-by-Step Guide for Beginners
“How do I apply for a credit card?” Even with the widespread use of digital payment methods, this question remains extremely common. In addition to convenience, credit cards offer several advantages compared to cash. If used smartly, a credit card can be used to improve your credit score, and you can also earn rewards for making purchases with it. What is more, it is a more secure way to keep money compared to always carrying cash with you.
Here, we discuss how to get a credit card, some tips to choose the right one for you, and the importance of a credit score.
What Are Credit Cards, and What Types Are Available?
Before we discuss how to apply for a credit card, let’s focus on the definition. Credit cards are financial products that allow their owners to borrow money from banks that issue them within a certain credit limit. In this way, credit cards are different from debit ones, as the latter are designed solely for spending your own money.
One thing to note is that not all credit cards are made equal or offer the same conditions. Such cards can be divided into a few main categories:
- Secured credit cards When you apply for this card, you have to make a security deposit, which will be used as your credit line. The advantage is that you don’t need to worry about reaching a higher credit score to get this card.
- Travel rewards credit cards In the case of this card, you will earn points for various purchases that can later be redeemed for travel-related purposes.
- Cashback credit cards Rewards of credit cards also come in the form of cashback. With some credit cards, you will get a certain percentage back from the selected categories of purchases, so it’s a great way to save money.
- Student credit cards This card is tailored to students and their needs. A student credit card is easier to qualify for, helps build a credit history, and may offer relevant advantages, such as cashback or discounts on learning platforms.
- Business credit cards As the name suggests, such credit cards are for those opening their businesses. Typically, these cards offer higher credit limits and may also have reward programs. Some business credit cards may have additional benefits, such as emergency assistance and spending tracking.
How to Get a Credit Card for Beginners: Factors to Consider
You might be asking, “How can I get a credit card that will suit my needs?” There are a few things that you should consider, including credit score requirements, fees, interest rates, and rewards.
- Fees You should first look up if a credit card charges annual fees and decide whether it will be worth it. Also, it’s a good idea to see whether there are any fees for late payments.
- Credit score requirements Some credit cards require a 680+ score, so if you have anything under this number, then you should consider other options.
- Points or cashback You can either collect points when you pay for goods or services and redeem them for other purchases or get cash back depending on the card you choose. When you look up cards, you should pay attention, as rewards can be more brand-specific or more general, which is often a better option.
- 0% APR or low interest It is a good idea to look into cards that offer introductory 0% APR, which is a great option for making large purchases. There are also low-interest cards available for those who expect to carry a balance on them.
Importance of Your Credit Score and How to Improve It
When you apply for a credit card, a bank will closely examine your score and decide whether you are trustworthy enough to use this financial product. It is a good idea for you to look up your credit score before you apply for any card. This value is affected by everything from your outstanding balances to your credit line history.
You have an opportunity to view your credit report from reputable credit bureaus (Equifax, Experian, and TransUnion) either online or by sending a request directly to their addresses. You can ask for a free report at least once a year and more frequently if you send an online request.
If your credit score is not in the good range, your priority should be not how to get a new credit card but rather how to improve your credit score. Here are a few tips that can help:
- Make sure to pay your bills on time You should ensure that your monthly payments are performed without any delays every single time. This will be the largest contributor to having a good credit score.
- Don’t overuse your credit You should stick to the minimum credit usage to improve your score. If your maximum credit limit is $5,000, you should not charge more than 30% of this sum, which is $1,500.
- Use a secured credit card responsibly You can use a credit card as a way to improve your credit score, but this can go the other way easily, so it’s important to avoid any debt or late payments. Even if your credit score is not the best, you can get a secured credit card and start improving it from there.
Final Thoughts
These are the basic things you should know about how to select the right card and how to apply for a credit card in the USA for beginners. It is essential to consider everything from fees and rewards rates to the credit score requirements before you apply for a card. If you avoid late payments, a credit card will not only be convenient to use, but it can become a useful tool to improve your credit history and get some other benefits.
FAQ
What is a credit card, and why does a newbie need one?
A credit card allows you to borrow money from a bank whenever you need and it offers a convenient way to pay for your purchases. It offers a high level of security and additional cash back or rewards that allow you to save money.
How do I assess my financial situation to determine if I’m ready for a credit card?
Firstly, it’s a good idea to assess your income and decide whether you will be able to pay off any credit you take. Secondly, you should look up your credit score to know what type of cards you will be eligible for.
What factors should I consider when researching and comparing credit card options?
If you wonder how to sign up for a credit card, it’s a good idea to compare your options first. The main factors that you should consider include credit score requirements, absence/presence of annual fees, rewards rate, APR, any welcome bonuses, and penalty fees.
How do I open a credit card if my credit score is not great?
The only solution is to improve your credit score. You can do this with a secured credit card that requires you to make an initial deposit and has less strict requirements for credit scores. By avoiding late payments and paying your bills in time with such a card, you can build a good credit history and then opt for options with better conditions.