Rewards programs are a huge part of many classic passive income opportunities out there. The traditional route is credit card rewards systems, where you use credit cards for all your purchases and pay them off immediately and reap the rewards! After all, retailers worldwide charge higher prices because of all the credit card company fees they pay anyways. So really when you use a rewards system to make your purchase you're really just getting the money back from the general jacked-up prices!
In my day to day life I make use of these credit card rewards systems heavily but now that many of us are stuck doing a lot of our shopping online there exists a significant potential to double dip on various rewards systems. StormX is one of these that operates in the crypto-sphere and I've been using them for about a year now, but very heavily these last two months. StormX has many ways of earning but most lucratively, they offer crypto-back when you use their portal to initially access various online shopping sites. Once you click to the retailers website from their application you merely make a purchase like normal. The StormX application is available on both Android and IOS.
The list of retailers available is substantial so I will not list every one here but I will throw down a few retailers I think you may be interested in.
Gamestop (Up to 6% crypto-back), Lenovo (Up to 2%), The Home Depot (Up to 2%), Bloomingdales (Up to 2%), Cabela's (Up to 3%)
This crypto-back is nice enough for regular smaller purchases. But when it comes to potentially larger purchases it can become very substantial. If you're doing home renovations, or buying a new gaming console or computer you can end up with a solid amount of crypto!
Alright you've made a purchase and received your crypto cash-back in your account! Now it's time to redeem it for your choice of currency and withdraw. StormX only offers Coinbase withdrawals via your email address for Bitcoin, Ethereum, Litecoin, and Dai.
This is a big drawback for me, I was quite disappointed they don't offer direct-to-wallet withdrawals. I have a strong feeling this is to make it easier on their side of things. They merely need to email you the equivalent crypto rather than deal with users submitting addresses and possible errors occurring. However this means that virtually all StormX users will need to have Coinbase accounts. However there are actually benefits to doing withdrawals directly to Coinbase. The primary benefit I use is that Coinbase allows for you to easily convert one crypto into another. And thanks to this the 4 coins that StormX offers essentially turns into a lot more. Lately once I withdraw to Coinbase I convert my coins into Tezos, or BAT to combine with my Publish0x earnings in a hardware wallet. The withdrawal minimum is relatively low also. Its hard for me to tell if it varies, I believe it may be based on the value of their StormX token somehow....currently the minimum is in the range of $.75 USD.
Now StormX DOES offer direct-to-wallet withdrawal for one method. And that is if you choose to withdraw with THEIR ecosystems ERC-20 token on the Ethereum blockchain.
This token is called STORM and has a current value of $.0011 USD as of this writing. Honestly the token has little value and I wouldn't withdraw as Storm if it were me. The only value it holds is within the StormX sphere. Holding the token in various quantities allows you to receive an increased % of rewards when shopping via StormX as follows.
3k STORM allows you 25% more crypto-back. 31k is 50% back, 310k is 100% extra crypto-back, 3.1million is 150%, and 6.2million is 250%.
These higher tiers also allow you to receive your crypto rewards in a quicker manner.
I find any tier above the first to not be worth the investment unless you're actively aware you'll be making massive use out of a specific retailer for a short period of time. Anything other than that and I personally wouldn't risk holding STORM as it doesn't have much of a reason for long term value increase. It's only real use is within StormX.
Shopping isn't the only way to earn crypto through StormX, but it's the method that is passive and potentially the highest earning and that's why i chose to focus on it. I do use the other methods myself though, they include watching a short 20 second video roughly every 30 minutes and completing a captcha. This gives you what seems like the equivalent .0025$ of crypto each time you do so. You won't earn much doing this but I find it easy to do as a little faucet on bathroom breaks or when I have a moment to spare. And it does add up over time!
The second best earning method on StormX is the available tasks. These generally involve downloading a phone game and reaching a certain level while dodging in app purchases and advertisements, answering surveys, or signing up for free trials. I have completed a few of these but find the ones offering you $10+ of crypto are generally going to be impossible to complete in the timeframe given without spending money. You need to be careful selecting these tasks based on if you'll actually manage to complete them within 15 or 30 days. Otherwise you could end up wasting a bunch of time and falling just short of earning your rewards!
Firstly the referral isn't a link, it is a code, which makes it not efficient to use. You can't embed the referral in your Publish0x post, or any other media as a linked word or phrase! This makes it less likely to be used by your readers. Also the incentive is weak on both sides of the coin, the referrer and the referree. The reward is roughly a few cents for both persons which is barely worth it. You may receive a better reward if the user referred makes purchases via the StormShop (the higher earning rewards methods we discussed earlier). That reward is $5 for the referrer when the user earns at least $1 in rewards from purchases. And what can I say, if you're interested in joining feel free to use my code for a small bonus (WQ2QC9TD), you can also use it after signing up if you missed out earlier!
In the end StormX is a functional passive income tool. After all, if you're going to be shopping online, you might as well be earning crypto-back for your purchases so I do recommend it. I also personally enjoy using the video faucet throughout the day. Keep in mind that general personal finance advice dictates that you save money rather than spend it. You should be using services like this when you are going to be spending money anyways, such as doing a home reno or Christmas shopping. Or if your wife wants to order sushi and you know you will not be able to get out of it!
I don't recommend getting involved with their token they will try to sell you, on as the benefits aren't really worth it. Get your money and get out if you ask me!
If you decide to join Publish0x after reading my article, the platform where Readers can tip Authors FOR FREE - Consider using my referral link here.