When people ask me what my favorite dish is, I usually say; free food.
Today we’re talking about something else. Something even better than food in 2021.
At least according to some people. More exact some private investors. Aka retail investors. That’s willing to put their food money on the line by investing in the volatile crypto market. But that’s another story…
The good news is, that you don’t have to risk anything to earn crypto. Welcome to the future of the future.
So before you spend any more money on flight tickets, hostels or “otels”. Let me show you step-by-step, how you can earn free crypto in the progress (and a good amount of travel dough as well).
- 1. Sign Up for StormX
- 1. Use Stormx Mobile App or Browser Extension While Buying
- 2. How to Withdraw STMX to Your Bank Account
- 3. Huraaay! I’m Rich! But What About Taxes?
- Bonus: How to Gain a 25% Higher Cashback Rate or More
- Disclaimer: If You’re Considering Investing in Crypto
1. Sign Up for StormX
Offering a mobile app and a browser extension, StormX’s goal is to help you get the most bang for your buck.
And we’re also talking about huge websites like Agoda, Wish, AliExpress, ASOS, etc.
With Agoda being one of the juiciest ones for us travelers. Giving up to 7% cashback on the day of writing – for example, compared to the 5% on Quidco).
TIP: Did you know that 1. you can book your flight tickets (like Momondo), and 2. long-term stays as well (like Airbnb) with Agoda?
- 7% – Completed hotel booking (accommodation)
- 3% – Completed package booking
- 1.5% – Completed flight booking
1.5% doesn’t sound like much. But looking at the future potential of the crypto market as a whole and the StormX coin STMX itself. Things start to get interesting.
TIP: Many have vowed their lives, investments, and careers to cryptocurrency. One of the bigger events was Tesla's investing $1.5 bio USD in Bitcoin back in February 2021.
StormX (STMX) Market Cap ($/USD)
Total Crypto Market Cap ($/USD)
1. Use Stormx Mobile App or Browser Extension While Buying
To my big surprise, I recently found this listing on Agoda. An apartment on Chaweng Beach in Koh Samui (Thailand). The reason I was surprised is that I’ve previously booked this place through Airbnb. Which I stayed in for around a month back in 2018.
TIP: Though Airbnb does seems to be cheaper for this particular example. $347 USD on Airbnb vs. $378 USD on Agoda for 29 nights.
2. How to Withdraw STMX to Your Bank Account
Yeah, it all sounds good, but will it get me a good old cold-heart-made sandwich at the airport? How do I turn STMX into “actual” money aka FIAT currency?
For that my friend, you need to create a user/wallet at a crypto exchange.
Top Recommended Crypto Exchanges
I use Binance myself and have no first-hand experience with Voyager. But I’m very familiar with Voyager from the Crypto space in general.
If you’re considering more than exchanging your STMX coins. Like investing with one of the platforms. I’d suggest that do some more research based on your individual needs.
TIP: Please see the last chapter in this article. "Disclaimer: If you're considering investing in crypto". Before you start investing in crypto.
Transferring STMX to Your Exchange Wallet
If you’re looking to cash out your cashback as soon as possible. I would recommend you to look for a more traditional cashback site over StormX. Like Quidco, where you can transfer your earnings straight to your bank account or PayPal.
There are two reasons for that:
- At the moment it’s expensive to transfer STMX due to high transfer fees. Also known as “gas fees” aka the computing power which you pay for doing your transaction.
Though there are a lot of fancy and cool terms within the Crypto universe. I’ve kept the technical aspect minimal since it isn’t super relevant for this guide. But if you’re more curious about understanding how gas fees work. Then I recommend this “straight to the point” resource.
- While the crypto market is volatile at the moment and could result in good short-term profits. There’s even a better potential long term.
I can refer to the graphs earlier in this article as well.
And with StormX being a so-called altcoin, with a much smaller market cap compared to the #1 Bitcoin. This means that the velocity is also higher and so is the risk. But the higher the risk, the higher reward.
|Crypto cashback (STMX)||Traditional FIAT cashback ($, €, etc.)|
|– Flat rate % crypto return|
– Dynamic asset (high-velocity)
– High-risk and high-reward
– Longer withdrawal process with fees
– Consider it an investment
|– Flat rate % cash return|
– Stable asset (low-velocity)
– Minimal-risk and minimal reward
– Simple withdrawal process
– Consider it cash
TIP: The best model is a personal choice since both are optimal for each of their purposes. Go with the option that's most suitable for you. There's no right or wrong.
How to Do a Crypto Wallet Transfer
When you’ve earned more than $5 USD cashback you’re eligible to make a transfer to a wallet of your own choice.
- Open the StormX app on your phone, or the extension on your desktop
- Click “Rewards”
- Click “Withdraw“
- Add your withdrawal address (if you’re in doubt about where to find it see next step)
- Enter the amount of STMX you wish to withdraw
- Click “Review withdraw”
- Confirm the withdrawal address
- Confirm the withdrawal address. I added this step twice on purpose. Since withdrawing to an incorrect address might result in an irreversible loss of funds!
TIP: I recommend doing it on a desktop since your withdrawal address is quite long. It looks like a very angry Russian gamer wrote them all
How to Find Your Wallet’s Withdrawal Address
- Voyager (since I’m from outside of the US and can’t access Voyager yet, I’ve linked to their official FAQ)
- Binance (this link should take you to your wallet – gotta love links!)
3. Huraaay! I’m Rich! But What About Taxes?
With that said, crypto shouldn’t be considered an easy or safe way to get rich. Your only way to achieve that is either by 1. becoming a crypto expert, 2. running a high-risk, 3. making a big upfront investment, or 4. holding your investments for years. Most likely a combination of all four in a lesser and higher degree.
Now that we have that out of the way.
Let me introduce you to Koinly.
They’ve done their part of making it easier to trade crypto more than ever.
It’s so damn easy that accountants around the world should be shaking their pants. If they aren’t already.
By either connecting your wallet(s) with an API. Or uploading your transaction history CSV files. Then it will do your taxes for you.
Everything is so smooth, from the creating of an account, and to do the actual taxes. It takes no time.
It supports +20 countries. And respect each country’s taxing systems when it comes to crypto. Even including Denmark with us not having a population of 6 Mio. people.
And one of the best things about it is, that it’s free. At least up until you have created your actual tax report. You only have to pay when you wish to generate and download the final report for a given year.
If you have less than 100 transactions, it’s only $49 USD.
There’s not much more to say about it.
Go to their website and click that big “Calculate my taxes” button on their homepage and you’re almost there.
Bonus: How to Gain a 25% Higher Cashback Rate or More
If you see yourself shopping a fair amount through StormX. Or if you’re interested in doing an investment in the project. Then you might consider upgrading your membership by holding 3000 STMX or more. This will give you the “Bronze” membership which I’ve done.
Whether it also makes sense to you comes down to:
- How much do you believe in the future value of the project/coin (most important)
- The current price of STMX
- How much you’re going to buy through StormX
Current STMX Rate
- You buy 3000 STMX for the price of $0.05 = $150 (including exchange fees) + approx. $25 (gas fees for transferring to your external wallet)
- On Agoda, this will give you an extra +1,25% cashback rate on accommodation (8,75% in total)
- You for example would have to spend approx. $10000 or more on accommodation through Agoda. To earn back your initial 3000 STMX investment from the extra 25% cashback rate (subject to STMX costing $0.05)
TIP: Spending $10000 on accommodation is a lot for most people. Especially if you're a low-budget backpacker. My advice is to only buy the 3000 STMX if you see it as an investment regardless (long-term).
How to Buy STMX
There are a few options to choose from. But the cheapest and easiest way I’ve found is doing it through your crypto exchange of choice.
Let’s assume you’ve already created an account. That means they’re likely only one or more of the following steps left to do.
- Link your bank account
- Fund your account
- Buy STMX
That’s pretty much it. If you feel like getting to know more, Voyager has an official guide on how to buy STMX.
- Buy BTC (Bitcoin) equal to 3000 STMX – here’s a link directly to the current rate
- The easiest way is to buy directly with your credit card here. But do notice there’s a little 2% fee compared to bank transfers
- Once you’ve bought your BTC, go to the trading screen for BTC/STMX. If you’ve never seen one of these before, it might seem overwhelming. The good thing is you only need to focus on very few things
- Follow the below steps to trade your BTC into STMX
Binance trading (step 1)
Binance trading (step 2)
TIP: No matter what choice you go with, you'll need approx. an extra $25 for the transaction (gas) fees at the time of writing. This is for the final transfer to your external crypto wallet. You'll connect to StormX to confirm your membership in real-time. But more on that in the next and final step.
How to Connect Your Crypto Wallet to Stormx to Confirm Your Membership
For this, you need to set up an external wallet.
Setting up your external wallet
I use MetaMask and I’ve found it super smooth and reliable. It’s also the wallet recommended by StormX.
Like StormX they both offer an app and browser extension.
The setup process is pretty forward, so I won’t bother you with that.
But make sure to save and secure your seed words given. Protect this like you would protect your ordinary physical wallet.
Suggestions on how to store your seed words
- Write it down on paper, and hide it somewhere safe
- Take a photo of the screen (not a screenshot with your phone)
- Copy the image to your desktop, and give the file a random name like “24th birthday invite”. Something non-related to crypto or passwords
- Store the image somewhere safe as well. With a trusted cloud backup in a place like iCloud Drive, Google Drive or Dropbox as well.
Syncing StormX with your MetaMask wallet:
- Open the StormX app on your phone, or the extension on your desktop. As said earlier, I recommend doing it on a desktop
- Click “Rewards”
- Click “Join now for free“
- Choose “MetaMask” as your wallet of choice
- Click “Verify wallet”
- MetaMask should now open
- In the MetMask notification window/popup click on “Sign”
- You should now see a confirmation page on StormX.io saying “Your wallet has been verified!”
Voila! When opening StormX you'll see a message congratulating you on your new membership.
Disclaimer: If You’re Considering Investing in Crypto
Rule #1: Invest only what you can afford to lose. Period.
The crypto market is volatile.
There are a lot of good arguments that there are a lot of overvalued coins/projects in the market right now.
And don’t get high on the “hopium”. Understand that money doesn’t fall from the sky. A certain cryptocurrency’s market cap would need to do a certain X growth. For your investment to do a certain X return as well.
My suggestion is that you either:
- Educate yourself to become a crypto expert so you can take your own decisions
- Only invest a smaller percentage of your portfolio in crypto (5-15% for example), and are willing to hold for a min. 5-15 years.
TIP: No matter the amount you'd invest. Then make sure to use all your exchange's security features. 2-step verification, etc. And if you're considering investing a larger amount in crypto. Then getting a cold aka hardware wallet like Ledger or Trezor might be a more secure and better option.