Self-tracking (ST) technologies offer an unlimited number of opportunities to improve human life, especially health and well-being. Many scholars have been interested in this technology because of its worldwide spread but have not emphasized the benefits versus ST practices risks. This paper presents a literature review of the benefits and risks of ST practices to close this gap. It also develops a multidisciplinary research model based on the extended valence framework. This model offers five hypotheses highlighting the importance of considering technological, social, and health factors when measuring ST adoption. The results show that the perceived benefits outweigh the risks. Health is paramount in the perception of benefits. These results lead us to make a few recommendations for practitioners.