They’re not very accurate but can provide baselines to track your progress.
The more you spend usually will give you better sensors with more accuracy, but for practical use many of the less expensive ones are good enough for amateur use. Do you need to spend 3x the price for 5 or 10% better accuracy?
I wore a top of the line FitBit on one wrist and a much cheaper Xiaomi Mi Band on the other wrist for a month, switching wrists every week. The results were nearly the same. I returned the FitBit.
Tracking progress is a good motivator, so a usable fitness tracker is a good investment.
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