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StormX (STMX) operates as a freelance marketplace and crypto cashback rewards ecosystem. The network combines the convenience of a mobile app and browser extension, with the security blockchain networks provide. Notably, StormX is among the first protocols to enable users to earn rewards and cashback for fiat purchases.
StormX has become popular in the market due to its combination of features and benefits, with the protocol currently listing 75,000 monthly active users. The platform has also managed to secure some notable investors including Blockfolio, Litecoin Foundation, and Kyber Network. Additionally, StormX has strategic partnerships in place with major firms like Samsung, Nike, and Lego.
StormX was designed to solve some serious issues faced by crypto users. For one, the protocol provides a more secure alternative to centralized cash back protocols and freelance markets. The network operates in a decentralized and transparent manner.
Another major concern for StormX development was lost returns due to high fees. Freelance networks like UpWork can charge up to 20% of our earnings. This rate strips freelancers of massive amounts of their profits. StormX introduces a more affordable alternative that removes the middleman and replaces them with smart contracts.
Inflation has hit 40-year highs in 2022, resulting in the Federal Reserve raising interest rates. Each of these actions cost the average consumer and saver. At the current rate of inflation, savers are losing money when keeping their holdings in traditional bank accounts. StormX users can leverage the crypto cash back app to help offset the rising prices in the market.
StormX provides its services to a global audience. Fiat shoppers have often found their purchases blocked due to their location. StormX opens the door for true international eCommerce on the blockchain. The protocol is free to sign up/use, and does not require previous experience with crypto as the developers removed all technical barriers via the helpful interface.
There are a lot of benefits that StormX brings to the table. For one, the network gamified the cashback experience which makes it more fun for users. Freelancers can complete small tasks that take under five minutes on their mobile devices and receive crypto for their actions. These incentives make the network a valuable addition to users.
The StormX shopping rewards are one of the biggest benefits of the network, with users earning cashback on most online purchases – although, the cashback rebate does vary based on the product. Notably, some products offer cashback up to 87.5%, far surpassing the current 9% inflation rate.
StormX users can secure returns even when making purchases in fiat currency. This feature makes the platform unique compared to many other cashback offers in the market. When you combine these options with the large network of vendors and growth prospects, it’s easy to see why so many people continue to give StormX a try.
Anyone can secure passive income simply by staking their STMX tokens. The network has a simplistic staking protocol. You can use the staking calculator to see exactly what your returns will be before you start the process. As such, staking is ideal for new users seeking consistent returns.
There are two main components to the StormX protocol. The cashback protocol enables users called Storm Players to operate as freelancers. They receive rewards for completing microtasks. The more tasks you complete and the more you get paid. Users can earn level-ups for their actions.
You earn more when you level up to Bronze, Silver, Gold, Platinum, and finally Diamond. This strategy is ideal because it further incentives participation. It also provides those seeking reputable freelancers a chance to see the history of the user. The higher their level, the more reliable and responsive.
StormX currently supports 1000+ popular online stores. The developers continually expand this list to include new products and manufacturers. Currently, the list includes big names like the electronics conglomerate Samsung. The network has inked these partnerships as part of its larger strategy to one day be accepted by tens of thousands of online merchants.
StormX is an Ethereum 2.0-based protocol. The network leverages Ethereum’s Proof-of-Stake (PoS) consensus mechanism to provide validation and scalability. PoS protocols are considered by many of the natural evolution of the crypto space as they require a fraction of the electricity needed by those that use PoW.
Eliminating the need to use miners helps to improve network participation. In a PoS network users stake their tokens to validate the network. StormX leverages Ethereum’s 2.0s advanced technical structure to provide scalability and security to users. This decision also means that StormX users enjoy high interoperability within the market.
The StormX market is where users register and find players to complete their microtasks. These users are called Storm Makers, and have the ability to place any small task that can be completed from a mobile device and the network will find users ready to secure returns for their help.
STMX is the main utility and governance token for the protocol. This ERC-20 compliant digital asset can be used to access StormX features and services. The token is used to reward players and secure gigs. It can also be staked to secure passive returns. STMX can be sent internationally in a frictionless manner. There are currently 10,000,000,000 slated for issuance over the entire life of the project.
StormX was founded in 2015. At that time, the network went by the name BitMaker. StormX is based out of Seattle, WA. The network lists Simon Yu as its CEO and co-founder. The platform rebranded to StormX and even changed its token from STORM to STMX in 2020.
Currently, StormX (STMX) is available for purchase on the following exchanges.
Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from purchasing most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
Gate.io – This exchange was established in 2013, and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia & the UK. USA & Canada residents are prohibited.
StormX uses gamification to improve the microtask freelance experience for everyone. The network continues to secure more users due to its security and overall helpfulness. Now, anyone can start earning crypto just by shopping at their favorite online retailers.
How to Buy StormX (STMX)
David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com
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