As of recent, many individuals and businesses have been venturing into cryptocurrency cash back reward programs. A number of these offers or programs are considered crypto mining apps. Which can be downloaded and used on your iPhone or Android smartphone / tablet device.
With the current state of the blockchain. There are many ways to get involved into the cryptocurrency space. Some enjoy analyzing the markets and trading. While others prefer a less risky approach, such as mining or earning through rewards. Investing into the cryptocurrency space is not easy for a beginner. Although, viewing content or making purchases through online merchants, you are already accustomed to using. Can greatly reduce your level of entry, without the need to trade and learn technical analysis (TA).
Imagine opening an app, shopping through eBay or Best buy. Then receiving a percentage of your sale sent back to you in the form of cryptocurrency. At that point, your only real concern is how you will transfer these earnings into fiat currency. Which can be cashed out / used in the real world or stored in your bank account.
Shop and Earn vs. Crypto Cash Back Credit Cards
Cryptocurrency reward credit cards can operate similar in terms of how you receive compensation. Although they do differ slightly. Similar to a traditional credit card, where you receive air miles or other similar cash equivalent rewards. With a crypto credit card, you can be rewarded with Bitcoin, Ethereum, XRP, Cardano etc. Some crypto credit card processors may even allow you the option to redeem the earnings you receive in exchange for cryptocurrency. (1)
SocialGood
SocialGood is a foundation located in Tokyo, Japan. It is a crypto reward / cryptoasset that anybody can receive for free. By simply performing a task that you probably already perform every day. Online shopping, or as SocialGood calls it, Shopping Mining™.
Currently the rewards that you can receive are quite high when compared to similar apps that also offer rewards. For example, at AliExpress. You can receive 100% of your purchase back in cryptocurrency. At Home Depot and eBay, you can receive 50%. *reward percentages seem to vary from time to time.
There are some limitations however. For example, SocialGood may not be received for shipping or taxes. It also may not be received if you purchase two or more of the same item (or bulk orders).
The benefit of downloading the SocialGood app at this moment in time, is the sign up bonus you receive. Previously at $25 USD. If you sign up from now until December 25th, you will receive $100 USD for free in SG tokens. Just for signing up. Not only that, however anybody that you refer, you will also receive $100 USD in SG tokens. (2)
To sign up or to learn more info about the SocialGood app. Be sure to click the following button below.
StormX
Founded in 2015, StormX appears to be an American / Singapore based company. So far, it is mostly recognized for their shop and earn crypto mining app. Centered on bringing users cash back rewards in the form of cryptocurrency for their online purchases. While very similar to SocialGood, StormX also provides its clientele with the ability to obtain a cryptocurrency debit card. The interesting thing about the debit card from StormX. Is that your funds are stored in crypto, although only converted into fiat once you make a purchase.
The rewards you receive from StormX appear to be less when compared to SocialGood. However, that could also be because our reward membership level is not very high. As per the company’s website. You can earn anywhere from 0.5% all the way up to 87.5% crypto cashback rewards. Depending on your membership level.
At this moment in time, there is no sign up bonus for when you download the StormX application in the app store. Although there is an affiliate program where you can earn a referral. It is still a great “shop and earn” money app to use and receive rewards. Although it might not have the initial reward benefits, when compared to SocialGood. (3)
In Conclusion
Shop & earn crypto cash back rewards programs. Are quite an interesting way to get involved in the blockchain world, and don’t seem to be fading away any time soon. With the job market consistently changing and evolving. Finding alternative ways to earn an income are becoming more and more important as time moves on.
We figure, that if you regularly shop online. It only makes sense to download an app. That allows you the opportunity to gain a percentage of your purchase back. Through cryptocurrency, earning rewards or both. If you are already going to make the purchase on your phone or tablet, why not make the transaction but profit with almost little to no financial risk at the same time?
Additional Information
- To prevent fraud. To receive your referral rewards with SocialGood. Your referral must spend at least $30 through the app, once they have signed up and registered.
- The $100 USD worth of SG received through one of your purchases. May only be withdrawn after approx 30 days. As per SocialGood, this mostly depends on the store you purchased from and their return / cancellation policy. Each store’s duration can be located in the description found in the app.
- The SG token value works in such a way that the more users it has within its ecosystem, the more the assets value increases.
- The StormX affiliate / referral program is active. Although, it requires a certain amount of STMX to be held in the app. This amount must be held for 90 days, before you can start earning a referral commission. (4)
Disclaimer:
By no means are we recommending for you to go on an exchange and put a buy order in to purchase the SG token. All we are recommending for you to do is download the app for free, receive your rewards and shop with the app to receive more. If you choose. We have done so and are currently in the 30 day waiting period.
To read more abut the Internet of Things, click here. To learn about hardware mining devices, click here.
References
1. Forbes Advisor, Are Crypto Rewards Credit Cards A Good Idea?, retrieved from: https://www.forbes.com/advisor/credit-cards/are-crypto-rewards-credit-cards-a-good-idea/
2. SocialGood, Whitepaper retrieved from: https://socialgood-whitepaper.com/
3. StormX, Revolutionizing how you earn crypto (About Page), retrieved from: https://stormx.io/about
4. StormX, How does the referral program work?, retrieved from: https://help.stormx.io/hc/en-us/articles/360063689073-How-does-the-referral-program-work-