My two favorite crypto cashback platforms join forces to make you mo' fake internet money!! Released today on the Twitter accounts of StormX and Shopping.io is news of allowing the STMX token to make purchases on the Shopping.io network and receive an additional 2% discount for doing so.
So who are these two and why should you care?
StormX is a smartphone-based app with over 750 shopping affiliates that gives you a percentage of your fiat purchase back in the form of crypto. Ebay, AliExpress, Zulily, Wish, Kroger, Hotels.com, Lenovo, Sam's Club, DHgate... these are just a few of the places you can seamlessly shop with and earn a portion back. Each affiliate sets their crypto back reward, so they all differ. The app offers you the ability to stake your STMX within it via your MetaMask wallet and earn an additional 12.5%. They do have tiered accounts so the more STMX you stake, the higher your crypto rewards. They also offer the ability to purchase crypto directly from the app. Their CEO has recently been talking about lowering tier pricing levels to allow for more people to take advantage of higher crypto back returns. StormX has been around since 2013 and continually works toward providing value to their underlying business through adding shopping affiliates, large active marketing presence, and community involvement.
Shopping.io (SPI) has a little bit different model in which you can use over 100 different cryptos to make everyday purchases from places like Amazon, Wal-Mart, and Ebay. You receive an immediate discount up to 10% by using their platform, but it is based on your tiered membership according to your SPI holdings. Their tiered pricing can seem a bit expensive but if you conduct most of your shopping at Amazon and WalMart (which I do) the discount makes up for the upfront cost fairly quickly. They recently launched their utility token GSPI in which you can stake directly on KuCoin. If you want to know more about Shopping.io I would suggest watching Sheldon Evans on YouTube- he has been talking about this company since the token was around $9.
Both of these tokens are in the online shopping sector and reward their users through discounts or crypto cash back. They are important because they are helping bridge the crypto gap between normies & retailers making usage & adoption more widespread. And who doesn't like getting rewarded for buying crap they are already going to buy?
Both tokens are trading about 50% off their all-time highs, so you can still pick up a nice position at a great discount. They are smaller gems with STMX holding a $443M Market Cap and Shopping.io coming in at $130M. I recently wrote how I purchased more STMX on last month's dip when it was trading in the $.03s. I may have to add to my Shopping.io bag as I have been neglecting it for the past few months as she sat in the back of the class bleeding out previous gains. The past week has seen Shopping.io go from a low of $89 to to a current price of $137 offering a 64% return for savvy buyers.
These two tokens are in my long term hodl category as their use cases will only continue to grow as online shopping continues to dominate our shopping trends. They are well positioned to take advantage of the continued increase in adoption of crypto-as-currency and this announced partnership just makes sense (also cents).
Thank you for Reading and have a great weekend!
disclosure: I own STMX and SPI positions
Cover photo courtesy of Shopping.io twitter