What is StormX?
Launched in 2015 by Simon Yu, StormX is a free app available on Android, iOS, and as a Chrome or Microsoft Edge extension. Unlike many crypto apps, StormX doesn't focus solely on buying and selling. Instead, it offers four main features: cashback, buying, playing, and staking.
Cashback Feature
StormX's cashback feature rewards users for online shopping in various stores, providing a percentage of their spending in cryptocurrency. With over seven hundred online stores participating, users can earn cashback on purchases ranging from clothing and food to tech.
Easy Withdrawals in Multiple Cryptos
Users can withdraw their StormX funds in various cryptocurrencies once their balance hits $25. Supported cryptocurrencies include Bitcoin, Ethereum, Litecoin, KeeperDAO, and StormX's native token (STMX). Connecting an ERC-20 wallet to the app facilitates withdrawals.
Membership Levels and STMX Rewards
StormX encourages users to hold its native token, STMX, to advance through membership levels ranging from Purple to Diamond. However, the perks, including a 3.5x cashback increase at the Diamond level, may not justify the effort for some users.
Staking STMX on StormX
While StormX allows staking only of its native token, STMX, it offers a robust 7.5% reward rate. Users need to connect an ERC-20 wallet, and rewards are distributed every Sunday.
Buying and Swapping Cryptos
StormX facilitates buying various cryptocurrencies, including Bitcoin and Ethereum, by connecting to supported exchanges like Binance, KuCoin, and Bittrex. Additionally, users can swap crypto through UniSwap or KyberSwap.
Playing Games for Crypto
StormX offers a unique feature—playing games for cryptocurrency. This diversifies the ways users can earn within the app.
In conclusion, StormX provides a multifaceted platform for crypto enthusiasts, offering diverse earning opportunities beyond traditional buying and selling. While some features may not match competitors in terms of rates, StormX's focus on crypto rewards sets it apart in the evolving landscape of cryptocurrency apps.