DRIP Network: How to Get Started Making Passive Income Today!
Note: nothing in this article should be considered financial advice. Always do your own research before investing in any project, and keep in mind that the world of crypto is risky — though, especially with Drip, the reward can be well worth it.
Drip has gained a lot of popularity in the cryptocurrency space due to its ability to consistently offer a daily 1% return that amounts to 365% every year. The network is based on the Binance blockchain and has its own native token (DRIP) that can be staked. Furthermore, it has mechanisms built into it that prevent the price of its token from being too volatile, such that its price remains stable most of the time. This is due to the network putting a 10% tax on all transactions, which discourages holders from selling too much DRIP. It also has an anti-whale mechanism where those considered to be whales can be taxed up to a maximum of 50% depending on the number of tokens they have in relation to the total supply of Drip tokens. This prevents whales from causing the price to drop, which is particularly helpful as whales’ dropping token values have been quite a concern in the cryptocurrency space. Keeping all that in mind, here is a step-by-step guide to investing in Drip.
Note: in order to invest in DRIP, you’ll need a “buddy code.” By following this link, my buddy code will automatically populate, getting you up and running right away:
drip.community/faucet?buddy=0xEC4C4c17831f2dc402fDF0752412aEc06A50a933
What is DRIP?
According to their site (drip.community), “DRIP Network is the latest project developed by Forex_Shark, BB and team.
The official token of the DRIP Network is DRIP (BEP-20) on the Binance Smart blockchain (BSC) that captures value by being scarce, deflationary, censorship resistant, and by being built on a robust, truly decentralized blockchain.”
What does this mean for you and me?
Well, it means that DRIP contract essentially acts like a high-yield certificate of deposit. In return for staking your DRIP in the “faucet” (more on that in a moment), you’ll be rewarded with a 1% daily return on that DRIP investment.
That’s 365% per year!
The best part, though, is that you always have the option of compounding your rewards (“Hydrating”) rather than withdrawing them (“Claiming”). This allows you to grow your initial investment much faster, and over time, can produce exponentially higher rewards.
For more information, be sure to read DRIP’s whitepaper at this link.
Before Getting Started
Before we get started, let’s go over some of the features that you should be aware of before investing in Drip.
Drip Faucet
The faucet is where your DRIP is deposited. According to the Drip Network site, “The DRIP Network’s Faucet is a low-risk, high reward contract that operates similarly to a high yield certificate of deposit by paying out 1% daily return on investment up to 365%.”
Swap
In order to obtain Drip’s token ($DRIP), you’ll first need to obtain $BNB. While BNB can be swapped for Drip tokens on exchanges like Pancakeswap, the Drip network has integrated a feature on its site that lets users swap BNB for DRIP without paying the 10%.
So, before beginning, you’ll need to set up an account with an exchange like Crypto.com, Binance, KuCoin, or anywhere else that allows the purchase of BNB.
Once you’ve purchased BNB, you’re ready to send it to your MetaMask wallet.
Connecting MetaMask to the Binance Smart Chain
Before investing in DRIP, you should have a secure crypto wallet, and since the Binance Smart Chain is compatible with Ethereum, you might want to check out MetaMask. Years of development have gone into it, making it a vital tool for anybody working with decentralized apps.
First, you can download MetaMask by going to their site and following the setup instructions. Once you have written down your backup seed phrase somewhere safe, you’ll have to “point” your wallet towards the Binance Smart Chain (BSC). If you don’t, you might end up losing your funds by sending them to addresses that aren’t usable yet.
So, to point your wallet, you have to select the settings option in the dropdown menu:
Next, search for the Networks menu in the settings page:
Once you have found it, click on the Add Network option. Here, you can manually add the BSC chain by filling in the parameters for the “mainnet.” The parameters that you should write out are listed as follows:
Mainnet
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Chain ID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
When you return to the main page after saving the network, you’ll discover that the network has been automatically adjusted to the one you just entered and that the units have been denominated in BNB. From here on out, you can make transactions in BNB.
Investing in Drip
Now that you have added the BSC to your MetaMask wallet, you should start off by buying some BNB.
Note: when you transfer BNB from an exchange, make sure you indicate that you want to transfer on the BEP-20 network (or, on Crypto.com, the “BSC” chain). If you’re using Binance, don’t worry; it does this automatically.
After you’ve received some BNB, transfer it to your MetaMask wallet and make sure to send it to the BSC. The next thing you would want to do is swap your BNB for DRIP.
To do this, go to the Drip Network site and click on the Connect Wallet option. Upon connecting your wallet, head over to the swap page by clicking Swap and enter the amount you want to swap in the Buy Drip section.
Now that you have acquired some DRIP, you can deposit it by going to the faucet page. However, you need to have a “Buddy Referral” first if you want to deposit DRIP.
If you’d like, you can use my buddy code: 0xEC4C4c17831f2dc402fDF0752412aEc06A50a933
Once you have got your buddy referral, add it to the buddy field that is located below the deposit field. Then click the update button, and now you can deposit your DRIP.
Before you add the amount that you are willing to deposit, you should know that there will be a 10% tax on this amount, and that you cannot get your deposit back. Also, you have to approve the transaction by checking your wallet.
After you are done with the depositing process, a bunch of states will be visible. For instance, the available stat displays the total amount you have earned, while the max payout stat shows the maximum amount you can claim as rewards. The rewarded stat, on the other hand, shows the total amount of DRIP that you have been rewarded for team member referrals.
Hydrating
You can also “hydrate,” which entails reinvesting your rewards. This will increase your max payout along with your cash flow. Furthermore, there is a 5% tax on hydrating that goes towards rewarding users. These rewards will then be put into your deposit and cannot be claimed back. You can do this periodically if you are looking to benefit from hydrating.
Buddy Referrals
Although referrals are not required to run the Drip Network, they can be a good way to earn more rewards. Also, in order to deposit, you must first join someone’s team. After that, you must have BR34P in your wallet in order to collect referral rewards from individuals that refer to you as a “buddy.”
Frequently-Asked Questions
Is DRIP Network a Ponzi Scheme?
That’s a phrase that gets thrown around a lot. When people think of a “Ponzi scheme,” they think of a scheme that requires the constant addition of new investors in order to pay out older investors.
Certainly, new investments can benefit the “buddy” that let the new investor know about DRIP.
I always make this point: if it is a Ponzi scheme, but it is consistently making you money, is that a problem? Personally, I’ve seen the returns on my initial investment steadily grow, so I’ve certainly had no complaints whatsoever.
But there’s far more to DRIP than a Ponzi scheme. The founder of the protocol, F0r3x Shark, has been actively building on this network, with things like the Animal Farm, and a slew of upcoming partnerships. In the end, DRIP is meant to be the beginning of an ecosystem — not a get-rich-quick Ponzi scheme.
So while certain aspects may appear similar, the fact is that it’s working — and this is likely only the beginning!
Is DRIP Network a Scam?
Full disclosure: no one can say anything with complete, 100% certainty — especially in the crypto space. With that said, DRIP Network has been consistently producing rewards for many, many people for nearly a year (a lifetime in the crypto space), and shows no signs of stopping any time soon.
While it’s easy to dismiss things that seem too good to be true, and while nothing in this article should be taken as financial advice, I can personally say that I completely trust the legitimacy of this project.
Do I need a Buddy Code to Invest in DRIP?
Yes! This feature allows DRIP to be effectively marketed through word of mouth, which helps to strengthen the protocol. You can use my buddy code (0xEC4C4c17831f2dc402fDF0752412aEc06A50a933), or click this link to automatically populate it.
Can I Withdraw My Initial DRIP Deposit at Any Time?
No. Your initial deposit (and any amount you hydrate) is staked and cannot be withdrawn. You can, however, withdraw your rewards at any time, allowing you to break even and then gain profit.
