Founded in 2015, StormX is one of the first global cryptocurrency-based solutions to reach worldwide markets. As a mobile app and browser extension, StormX aims to bring users cashback in crypto for most of their online purchases. With enterprise partners like Samsung, Nike and Lego. StormX also allows users to stake the native STMX token to boost their rewards.
The company has already attracted investments from Blockfolio, Litecoin Foundation and Kyber Network. StormX Cryptocurrency has successfully developed its product and has become an industry leader in the crypto cashback community. The company is also catching users’ attention by offering cashback of up to 87.5% for some purchases.
Simon Yu is the CEO and co-founder of StormX. Yu graduated from the University of Washington in 2014 and then participated in a Berkley Blockchain Xcelerator held by the University of California in 2020. His professional career began a couple of years before he graduated, with the founding of a company called Penguin Delivery — aimed at delivering Korean barbecue tacos to students across campus. After graduating, Simon Yu became a financial analyst intern for Amazon and then became a senior credit risk analyst for KeyBank. In 2015, Yu and his team founded StormX.
Calvin Hsieh is the CTO and co-founder of the company. He graduated with a degree in computer science and software engineering from the University of Washington and was also part of the Berkley Blockchain Xcelerator held by the University of California in 2020. In April 2015, Hsieh joined Bomba Fusion LLC as a manager and web developer, and in 2017, he became a co-owner of the company. In 2015, he co-founded StormX with Simon Yu.
How STMX works with StormX.
StormX Cryptocurrency members use the crypto cash back app or Chrome button whenever they buy stuff online. The Button operates in the background seamlessly and gets users anywhere between 0.5% to over 85% in crypto rewards depending on the store and their membership level. StormX members automatically level up to the Purple tier when they connect a wallet within the app, but the real magic begins when they level up to Bronze, Silver, Gold, Platinum and finally Diamond.
Each tier provides increased Crypto Cash Back, so for people who are shopping online anyway, it makes sense to buy STMX, deposit it in the app and then earn even more crypto cash back every time they make a purchase at one of their favorite stores. The unique token model provides real incentives for members to not just purchase STMX tokens but to also USE them.
What Makes StormX Unique?
StormX is the first crypto cashback solution that allows users to earn rewards and cashback for their fiat purchases. By seamlessly integrating their blockchain platform with the everyday purchases people make, StormX essentially makes crypto enter the mainstream financial system.
By extending the capabilities of the StormX platform beyond cashback, the company also captures the interest of crypto enthusiasts who are looking to boost their profit by staking native tokens and performing everyday tasks. The STMX token allows users to lock staking contracts and earn interest on their investment. With more than 750 online stores part of the StormX cashback program, customers can easily stack up cashback rewards. Not only that, some of the online shops offer cashback of up to 87.5% in crypto, which is an unprecedented rate for traditional cashback programs. Finally, StormX has attracted the attention of several big names in the industry and has secured over $30 million in funding.
So what’s the big deal?
They have about 75,000 monthly active users every month (more than most DAPPs out there). We’re a real company with a real team that’s been grinding for over 6 years to help crypto reach critical mass and truly drive mass adoption. StormX is the easiest and safest way for anyone new to crypto to get in on the action. Just make the same online purchases you normally do, and start earning.
Exploding Online Sales
StormX Cryptocurrency Online sales have been exploding while people are doing most things from home. – eCommerce sales in the US are up 76% compared to last year.
The online communities have grown to tens of thousands of die hard StormX loving cash backers. Uber strong communities have enabled us to spread our message organically and at lower costs.
Conquering the World
We’re all about scale – while Rakuten and Honey are only in a handful of countries, we’ve already got a global footprint from the US to Asia to Europe.
2.5x Higher Rewards
The token model lets us pay out higher rewards (up to 2.5x more) to our members than our competitors ever could in dollars.
How Is the StormX Network Secured?
As an ERC-20 token, STMX is secured by Ethereum’s proof-of-stake (PoS) consensus mechanism. The PoS consensus mechanism relies on stakeholders to become transaction validators. This is what differentiates this consensus from the proof-of-work (PoW) utilized by Bitcoin.
The PoS consensus mechanism is extremely versatile, as it does not require vast amounts of electrical or computing power, unlike PoW. Not only that, as STMX is an ERC-20 token, this makes the cryptocurrency widely distributable and exchangeable. Ethereum-based tokens can be integrated into DApps and smart contracts on the Ethereum blockchain.
Where Can You Buy StormX (STMX)?
As an established cashback application since 2015, StormX has secured a top place among crypto enthusiasts. This is why the STMX token is widely available on a number of exchanges. If you are looking to purchase STMX tokens, one option is Binance. Other exchanges where STMX is available include:
STMX or STORM tokens, what’s the difference?
StormX Cryptocurrency originally minted 10 billion STORM tokens back in 2017.
In the summer of 2020 StormX did a ‘token swap’ and changed the ticker from STORM to STMX.
The new smart contract has 2 main benefits: improved security by removing “god mode” and the ability for us to allow members to stake their STMX tokens. The token swap period took place from 8th June 2020 until 8th November 2020.
As voted by the community, we decided to re-open the token swap.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.