StormX: Shop and Earn Cryptolatest release: 8.12.3 ( 3rd November 2021 ) last analysed 1st November 2021 Not a wallet
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Do your own research!
Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.
The Analysis ¶
Shop at your favorite stores and earn Crypto Cashback. StormX is the easiest and safest way to start earning cryptocurrency without any of the hassles. It’s time to stack sats! Simply download the app, choose your favorite online stores, buy stuff, and earn shopping rewards.
From a webpage on the site concerning StormX’s token:
How does StormX make money? StormX receives discounts from brands all over the world and passes on those savings to users when they make a purchase. Users receive the discounts in crypto and StormX gets a small transaction fee.
StormX may at any time and without liability to, terminate, suspend, or limit your use of StormX Staking (including freezing the Digital Assets in your account or closing your Digital Asset Wallet, refusing to process any transaction, or wholly or partially reversing any transactions that you have effected[…]
This confirms that users can hold digital assets in this app.
The official homepage says that it is possible for users to withdraw rewards to an external wallet:
Once you’ve earned $10 or more you can withdraw your rewards to any compliant crypto wallet.
We tried the app. There was a tab that allowed users to view the account balance. There was an option to withdraw, with 5.00 USD worth of funds as the minimum for the withdrawal limit. Users are also allowed to connect to an existing wallet such as MetaMask or CoinBase.
The app uses a third-party wallet that connects to the service. We reached out to their support via email and posted a screenshot of the conversation.
This app does not have a bitcoin wallet and makes use of third party wallet providers.
This appears to not be a product to receive and send money.
As part of our Methodology, we ask:Is it a wallet? If not, we tag it No Wallet
If it’s called “wallet” but is actually only a portfolio tracker, we don’t look any deeper, assuming it is not meant to control funds. What has no funds, can’t lose your coins. It might still leak your financial history!
If you can buy Bitcoins with this app but only into another wallet, it’s not a wallet itself.
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