CryptoCurrency News - June 28, 2022

Cryptocurrencies are gaining traction, and many people constantly search for ways to benefit from them. Trading and hodling are some of the most common ways to make money in the crypto space, but those looking to earn passive income can do so through staking and cashback for purchasing items online.

Online shopping cashback rewards have long been used by banks and card companies to incentivize customers to utilize their services. But these days, crypto platforms such as StormX now provide similar opportunities through the Shop-to-Earn model. This way, anyone can earn cryptocurrencies without directly purchasing them.

About StormX

StormX is a decentralized Ethereum-based platform that is pushing the Shop-to-Earn model. This approach allows users to receive crypto rewards while purchasing flights, hotels, and goods at partnered stores on the platform, including eBay, Nike, Foot Locker, Samsung, and Groupon.

The platform works towards boosting the adoption of cryptocurrencies by offering crypto cashback to everyday shoppers. Users can earn and accumulate crypto in popular cryptocurrencies like BTC, ETH, DAI, and StormX’s native token, STMX.

StormX works as a Chrome browser extension and a mobile application. The extension operates in the background seamlessly, accruing cashback rewards as the user shops on desktop, together with over 4M downloads across Android and iOS on mobile, StormX has paid out over $5M in crypto to date.

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How Does it Work?

StormX users can earn between 0.5% and over 85% in crypto rewards when they use the platform’s Crypto Cashback app or Chrome extension whenever they shop online. It’s free for anyone to use and earn Crypto Cashback at the base rewards percentage.

The percentage of crypto rewards depends on several factors, including users’ membership levels. The membership levels are determined by the number of STMX tokens users have in their wallets.

There are six membership tiers, with Purple being the first. StormX users automatically level up to the Purple tier after connecting their mobile wallet to the app. This first tier does not require users to hold STMX tokens. Essentially, the more STMX they hold, the more they earn.

STMX, capped at 10 billion units, is an ERC-20 token that powers the activities on the StormX ecosystem. The cryptocurrency also serves as the platform’s governance token, allowing holders to vote on decisions that can affect the project’s future.

The StormX Referral Program

Now, in addition to crypto cashback, membership bonuses, and staking, StormX users can earn through referrals. Users can share their referral link with friends and family to earn 10% of their shopping and staking base rewards.

Users can learn more about the referral program here.

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Bitnews

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