Yes, I am earning $200 per month while sleeping on a $300 DRIP investment that I started two months ago.
If you’re curious about how it all began, read the story below. If not, the short version is that the faucet offers you 1% of your daily deposits, which you may claim or compound.
How can you earn your first million dollars using DRIP investments?
My present circumstance: At the time of writing, the cost of DRIP is $7.
Current investing condition
I began with a tiny sum of 11 tokens, and after compounding every day for two months, I am now generating 15.93 DRIP per day.
Here are three different approaches:
• Claim every day for 365 days till I reach a total of $22,000 ($60 * 365) in a year.
• Compound every day until I achieve the account’s maximum payment of 100,000 TOKENS (roughly two years) and begin claiming around 273 DRIP PER DAY!
• My other option is to see it weekly, which means that by hydrating six days a week and claiming one day a week, I’ll be withdrawing $60 from the contract each week while growing my deposits six times a week.
To enhance my investment returns, I utilize this calculator from my Buddy. According to this calculator, which has worked flawlessly, I have the following plans for the future months.
• In January, I will withdraw a total of 212$.
• In February, I will earn a total of $557 while increasing my deposits.
• By June, I will have tripled my money and will still be able to take $1,000 every month.
My approach is not one-size-fits-all, but it works for me. It provides me with some income while still allowing me to pursue my larger goal of retiring early and working for joy rather than money.
I’m wondering whether you’re running late. No, the DRIP pricing was 18$ when I began. It was formerly priced at $6. It is now at 70$, but projections anticipate a consistent base price of 100$ for each DRIP, making it still acceptable for modest investors like us.
What happens if the cost falls? I will win less money but still win, thus I will purchase and invest more DRIP in other wallets, so a lower price does not imply I will lose money.
• Indexed investments: These are very secure investments that offer at least 2% APY, depending on the variable interest rate (risk). More risk equates to a higher APY. This will not allow you to retire until you have millions of dollars saved and a 2-4 % annual return of roughly $50,000.
• Shares: While shares are a great way to make money, your chances of obtaining a nice piece of the cake are little unless you’re an expert (which I’m not). The stakes are large, and in order to make a decent profit, you must virtually remain here all day.
Enough of the scenery; let’s get to work.
We’ll look at how to make your first million dollars in the title. DeFi (Decentralized Finance), often known as DRIP, is the solution.
DeFi is an umbrella word for all types of digital financial activities, including blockchain tokens.
DRIP, and their team’s most recent initiative is DRIP.
DRIP on the Binance Smart blockchain (BSC) is the official token of the DRIP, which captures value by being scarce, deflationary, censorship-resistant, and constructed on a solid, entirely decentralized blockchain.
there are basically two options:
• Faucet: By adding liquidity to DRIP, the network ensures a daily return of 1%. This equates to a 365 % yearly percentage return. The important thing to remember is that you will never be able to collect your investment, but you will be able to claim or hydrate (recompound) your daily interest.
Because of how the contract is constructed, this is conceivable; it discourages greedy behaviour by applying a whale tax and a maximum payment per account of $100,000 DRIP, which can only be earned if you claim/hydrate correctly.
• Reservoir: If you’re a whale with hundreds of DRIP, you may deposit them here to provide the contract liquidity in return for drops. Because I am not yet a whale, I am unaware of this.