Wanna know how drip works….?
This is the place to start if you want to know how drip network works and a lot more specifics about starting started with Drip (and crypto in general). I go into further depth than most Drip introductory posts.
Guide; There are several articles about Drip investing, and the most of them assume the reader has some prior understanding. According to the majority of articles:
Specifics to know how drip network works and buying drip
1. Purchase BNB
2. Make a Metamask wallet.
3. Copy BNB to Metamask
4. Visit https://drip.community/swap, link your Metamask wallet, and purchase Drip using your BNB balance. A minimum of 1.12 Drip is required.
5. Navigate to the Drip Faucet page and insert Drip into the faucet.
6. You need a friend, so use my buddy address below (mine is 0x644c3F88f2d32842f60C4CC3247116AAbF959514 if this TLDR is sufficient 🙂 See below for information on how to join our Discord server.
7. Hydrate! Alternatively, you may claim after you have enough Drip.
OK, I can understand it since I am already familiar with the subject, but if you are new to Drip (or even basic Crypto trading), there are a LOT of things lacking. This includes the critical step of protecting your cryptoassets.
This essay has turned out to be pretty lengthy, which reflects how much work is really required in getting started with Drip. Please let me know in the comments if any of these or other points need more clarification. Alternatively, get rid of everything that is simply taking up space.
Drip — by the number
Disclaimer: This is not trading or financial advice. This material is provided for amusement purposes only and reflects the author’s OPINION. All trading and investment, whether in real estate, equities, or cryptocurrency, has the risk of loss, which may be larger than 100%. Do not trade or invest with money you cannot afford to lose.
Even if you are a member of my DRIP Team, I am not liable for your trading mistakes, losses, or missed opportunities. Please do your own investigation and double-check facts. Any mention of an investment’s past or projected performance is not, and should not be interpreted as, a recommendation or a guarantee of any certain result or profit.
If you want to know how drip network works this is what you need to take into consideration, Drip is a Binance Smart Chain (Blockchain) Defi project that pays 1% per day and may be compounded to offer you an APY of 3,053.61%. In a year, a $1,000 investment might be worth $30,536! Even better, you may keep increasing your money in this manner for almost four years. Your deposit will be worth $999,525 after two years. Your bank may pay you 1% every year. After a year with them, the $1000 becomes $1010. Down, young man!
There is more to it, but these data provide an indication of the conclusion.
Please keep in mind that any deposits you make are non-refundable. All money comes from claiming instead of hydrating – you may choose to hydrate or claim every day.
To investors used to conventional equities such as shares, having your investment “burned” is rare. This is one of the risks associated with Drip. Invest just what you can afford to lose, as with everything else.
The concept of having to wait for an asset’s development is widely established. Traditional investors, however, would consider an APY of 3053.61% to be completely ridiculous. Given this, and despite losing your investment, claiming for the first 124 days will be required to recover the original deposit. Alternatively, hydrate for 18 months and receive your investment in 1 day. Alternatively, alternate between hydrating and collecting your investment back after 6 months! In each of these scenarios, the remainder is profit.
This showcases one of the Drip network’s gaming features. There are several techniques that may be used.
Many people that want to find out how drip network works also are concerned if Drip Is a hoax?
You may be wondering how the Drip network pays customers 1% every day. In a future post, I will go into further depth about this. For the time being, just know that everything is legal. It operates by levying taxes inside the network. 10% on both deposits and withdrawals. And 5% for hydration. Once the ‘whales’ start claiming, the network might be paying up to 50% tax.
Is it a scam? Everything I’ve read suggests that it’s not. Of course, if you want to know how drip network works, there are dangers with any kind of investment. Is this a rugpull? — a deceptive product that will steal all of your money? No, according to what I’ve read. But don’t take it from me.
Examine the Drip charts and analysis made available by
Drip analysis screenshot displaying the number of investors as well as other Drip network statistics
That equates to 81,000 persons who are persuaded. And, as can be seen, this project has been going for ten months. The developer is not hidden and may be reached at any time. Forex Shark, the principal developer, is upfront about the Drip product and the others he is behind or creating – https://twitter.com/F0r3x Shark.
Is it profitable? See all those blue lines after around the fourth item along the bottom graph’s horizontal axes? (number of players with number of deposits). 1200 Drip is the third entry. Those players have most certainly begun to claim, at least on alternate days, and are getting at least 12 drips per day, or 180 drips each month. At $100 every drip, it equates to $18,000 USD per month.
The bigger holders in the center of the horizontal axis have deposits worth 10,000 Drip — that’s 100 Drip a day in interest – $10,000 per day or $150,000 per month. Look to the right for the obese cats with 27,000 Drip deposits. They are receiving 270 Drip, which amounts to US$27,000 per day – US$405,000 per month. I’m claiming and hydrating in different ways here. When you reach these higher levels of holding, you will be claiming every day, for a total of US$810,000 every month. For nine months (depending on how much you claimed along the way).
And this is for each wallet. I have ten wallets (really twelve now that I’m writing these posts). So when I get there, I’ll be making $8 million every month! If the cost per drip is $100.
Is this a pyramid scheme?
Everyone in the Drip network receives the same 1% commission. The sole benefit that early investors have is the ability to develop a ‘downline’ team. I’ve just been in the network for seven weeks, but I already have one team with five downlines. Everyone has the same chances.
My wallets are located on the left side of the graph shown and mentioned above. Except for one (11 of them), they are all in the far left bar — fewer than 100 Drip. The 12th wallet may be found in the second bar.
I’ll be able to start claiming shortly. If I began today, I would earn little less than $400 USD every day (before my countries tax is paid).
The information provided here on Drip not being a Scam or Ponzi scheme is minimal. I’ll write more about this in a future post, and all you have to do now is trust me and the other 81,226 individuals.
Let’s get this party started.
Review the instructions mentioned at the start of this page and duplicated here before reading the specifics. I’ve interspersed the missing new stages.
1. Purchase a hardware wallet — NEW
2. Configure your hardware wallet and accounts — NEW
3. Establish a cryptocurrency exchange account
4. Make a Metamask wallet
5. Deposit money into an exchange account — NEW
6. Purchase BNB
7. Copy BNB to Metamask
8. Visit https://drip.community/swap, link your Metamask wallet, and purchase Drip using your BNB balance. A minimum of 1.12 Drip is required.
9. Navigate to the Drip Faucet page and insert Drip into the faucet.
10. You need a friend, so use my buddy address below (mine is 0x644c3F88f2d32842f60C4CC3247116AAbF959514 if this TLDR is sufficient 🙂 See below for information on how to join our Discord server.
11. Hydrate! Alternatively, claim when you’ve had enough Drip.
Before we can acquire BNB and begin our Crypto adventure, we must first lay the framework.
I am a mechanical engineer who has been dabbling in cryptocurrency trading for 5 years. The information offered here is based on my experience during that period, and especially over the past 8 weeks as I’ve put in tremendous effort to comprehend and participate in the Drip network.
Please wait at least a week for everything to be straightened out when you begin to read this. Prepare yourself so you don’t get agitated and upset when Ethereum drops 10%!
The first rule of crypto trading is that it is full of frauds and scammers because to its decentralized structure and absence of ‘policing’ via a central authority like a bank or even a country’s reserve bank. Simple criteria must be followed to avoid virtually all conceivable assaults. The most important thing to avoid falling victim to a scam. Drip, as previously said, is not one:).
Use a hardware wallet at all times.
(Cold) Hardware Wallet
Order a hardware wallet – the main brands in this sector are Leger and Trezor. There is also a new entrant, Lattice, which is endorsed by Metamask. Hardware wallets are used to store your private keys in “cold storage” that is not linked to the internet. One should be used for all cryptocurrency transactions (not just Drip).
We utilize one of the Hot software wallets (Metamask). They are, however, heated since they are linked to the internet. There are several attack vectors available against a machine connected to the internet. Because crypto is such a popular target, it is not worth the risk. Store your private keys in a cold hardware wallet.
Private keys are similar to bank account login information in that they may be taken with NO RESULT. There is no ‘bank’ where you may go to put things right. You will be on the drip for more than three years, which is a long period to be at danger.
You may be thinking that you can set up your Cold Wallet later. Unfortunately, it is not possible with Drip since you do not own your deposits. Before you begin, you must make all of this operational.
I’m sorry to report that your trip will have to be placed on hold until this and the following stage are finished.
Make certain that you get your hardware wallet straight from the manufacturer:
• https://www.ledger.com/
• https://trezor.io/
• https://gridplus.io/products/grid-lattice1
I use a Ledger Nano X (with a backup Nano S) and will exclusively discuss its usage in my writings. I’d heard a lot of excellent things about the Trezor, so I went with Ledger. I’m not familiar with the Lattice.
Return here after you’ve received a cold wallet and set it up according to the manufacturer’s instructions. Proceed to the following step to create a Crypto Exchange account.
Configure accounts in Ledger Live.
Accounts must be created in Ledger Live. It *can* be done with Metamask, but I’ve made errors and find it’s preferable to do it this way:
1. To begin, download and install the Binance Smart Chain app on your Ledger device.
2. Create a Binance Smart Chain (BNB) account or accounts in Ledger Live.
I have many Drip wallets that I have labeled ‘Drip 1’, ‘Drip 2′, etc. because you need to move between them in the Metamask wallet to make it simpler to monitor In a future essay, I’ll go through how to manage several wallets.
In addition, you must install the Etherium program on your hardware wallet.
Create a Cryptocurrency Exchange Account
Create an account with a reputable cryptocurrency exchange that deals in BNB, such as Binance, Binance.us (*1), Coinbase (*2), Coinify, or BTCMarkets. Every day, new exchanges are launched. Just be careful to choose a trustworthy one (do your own research — dyor).
(*1) It seems that Binance.us is not accessible to residents of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont.
(*2) US citizens are unable to acquire BNB using Coinbase.
The BNB trading pairs are listed on Coinmaketcap.
Which one you use is also determined by your country. Apart from that, there isn’t much difference between them, so I wouldn’t get too worked up about it. Unless you want to purchase coins or tokens that aren’t accessible on the exchange you’ve selected. Remember that you may participate in more than one trade.
When you sign up for an account, each exchange will need to go through Know Your Customer (KYC) requirements to authenticate who you are. This is one of the actions being taken to combat fraud, scams, and money laundering. It also informs your country’s tax agency of your (intention to) trade in cryptocurrency. Most nations recognize capital gains from crypto currency trading and require you to pay taxes on them. As a result, maintain your own records. I’ll write another article on it.
KYC may take a day or two to configure.
Set up authentication security for your account. Email, Phone, Authenticator, and YubiKey provide the highest level of security. Because you are unlikely to withdraw often, it is wise to set up numerous of them, one of which should be Authenticator or YubiKey. I communicate by email, phone, and authenticator.
Screen for configuring Binance security authentication
Wait until you’ve set up a Cold Wallet and Crypto Exchange account(s).
Create a Hot Wallet
Drip activities need the use of a soft wallet.
Hot Wallets save your private keys in software that runs on your PC, mobile device, or on a Crypto Exchange server like as Binance. They are handy and simple to use. On the downside, they are vulnerable to being taken over by malware, hacked, or exposed by some other breach since they are connected to the internet.
Yes, the premise is frightening. However, the hot wallet may be used in combination with your cold wallet, which stores your private keys. As a result, you get the best of both worlds: ease and security. All transactions made using the easy hot wallet must pass through the cold wallet, which houses the private keys.
The Drip network now supports the following:
• Metamask is available as a browser plugin in Chromium (Chrome, Brave, Edge) and Firefox.
• Wallet Connect is a hot wallet used to link mobile wallets to decentralized apps.
• Binance Smart Chain Wallet – This wallet is intimately connected with the Binance Exchange and is also available as a browser plugin for Chromium (Chrome, Brave, Edge) and Firefox.
Metamask is one of the most popular, thus I use it. I’ll explain how to use this wallet.
• Download and install the Metamask wallet from https://metamask.io/.
• Configure it for trading on the Binance Smart Chain.
I configured it on Chrome and just use Chrome for Crypto trading. All other web browsing takes place in various browsers. I do this as an extra layer of protection and recommend that you do the same (you may consider this to be overly paranoid, however this approach removes one more attack vector). It is not necessary to use Chrome for cryptography and Firefox for anything else. Just use one browser for Crypto. And never, ever mix and match in either.
To link your hot and cold wallets, do one of the following:
• The most secure method to utilize Metamask with a Ledger wallet.
• Metamask Trezor integration
• Lattice1 — MetaMask connection
After you’ve finished those procedures, your Metamask accounts should be identified as hardware wallet secured. You may now utilize the convenience of the hot wallet in the browser while knowing your private data is safely saved in the cold wallet.
Metamask wallet displaying accounts controlled by a Hardware wallet
Transfer Funds
Transfer a little amount from your bank account to your Crypto Exchange account as a test. I use Binance and go to the Buy Crypto menu and choose Buy with Bank
Deposit.
Binance screen for depositing fiat via PayID / Osko
My bank account supports OSKO / PayId, and you’ll need to open a new account if your present one doesn’t (mine didn’t, so I had to do this — it only took about an hour since I already had accounts with them).
Binance PayID screen to use in your bank’s ‘pay by PayId’ screen.
Hiding my PayID in this screenshot is unnecessary and adds another degree of suspicion.
In Binance, choose ‘OSKO / PayId’ and it will provide you with an address to use (most likely an email address with a ‘@’ in it). Transfer funds from your bank account to this account.
It’s worth noting that when I did this, the test deposit failed. I had to phone my bank, and after ten calls and an hour of waiting, I was finally connected with the Fraud team, who asked me a number of questions and cautioned me about frauds. They have to do this as part of their due diligence and as a disclaimer so I can’t sue them if my cryptocurrency trading fails.
It’s also clear that they make it tough enough to dissuade everyone except the most tenacious. I hope banks notice the writing on the wall and begin to connect their operations with the no longer-so-new crypto trading environment.
Do not proceed unless you have accomplished the preceding stages – you have a hardware wallet, a software wallet (with both linked), and an account on a cryptocurrency exchange to which you can quickly transfer money. Allow at least a week, so get started right now!
Purchase BNB
Buy BNB from a reputable cryptocurrency exchange.
BNB is the currency that drives the Binance ecosystem, and Drip is powered by the Binance Smart Chain – the arm that powers DEFI.
The quantity you purchase is determined by the price of DRIP (paid for with BNB), and you must purchase a minimum of 1.12 (1.0 after 10% deposit tax). The current price per Drip is 0.25 BNB, therefore 1 BNB (AU$553.09 or US$396.90 at current pricing) gets you 3.5 Drip. Enough to start with three wallets. You should have some BNB in your pocket for gas costs. Purchase more over time (and as I say, the markets are still off after recent highs so now is actually a really really really good time).
This may seem to be a reasonable sum of money, but keep in mind that 3 wallets and 3 drip (1 Drip in each) would generate more than US$11 million in 5 years (assuming the price stays same). The sole benefit of a larger deposit is that it gives you more time since it matures quicker (3 Drip in 1 wallet will mature faster but will “only” reach US$4 million).
If you can raise the deposit to $50 and split it among four wallets, you would be able to receive $15 million in five years, and the $50 Drip deposit will be paid off in six months (if you alternate days of Hydrate and Claim).
In my other essay, I go into further depth about similar scenarios:
• DRIP — The five phases of bereavement
BNB should be transferred to Metamask.
The BNB you purchased will be stored in your Binance hot wallet. You must import it into your Metamask wallet (https://drip.community demands it).
Navigate to Metamask in your browser. Log in by clicking the Metamask fox symbol in the browser’s tab bar.
Browser bar button for Metamask
When Metamask is a dropdown, you may open it as a window by clicking the (vertical)… & View Expanded
Insert the Metamask drop down menu into a browser tab.
Select the account by clicking the ’round button’ above the vertical ‘…’ button.
Metamask wallet displaying accounts controlled by a Hardware wallet
Select the appropriate account and the wallet address, such as 0x965…53A8 in the picture below. This copies it to the clipboard.
Metamask displaying the wallet address
Log in to Binance and then go to Wallet > Overview.
Overview of the Binance Wallet
Then click withdraw and input BNB as well as your wallet address. Check that the Binance Smart Chain was automatically chosen. Select MAX or the amount of BNB to be sent to your Metamask wallet. Each transfer costs ‘gas,’ so only transfer what you need. If you have many wallets, think about it more thoroughly (remember 1.12 minimum).
Before clicking Withdraw, double-check the wallet address and give any mandatory authentication inputs (phone, email and authentication code in my case).
Binance screen showing wallet address, BSC network and amount in wallet” class=”wp-image-4777″/>Withdraw BNB from Binance screen
Within a minute or two, the BNB will appear in your Metamask wallet.
Metamask now displays BNB in your wallet Connect wallet to Drip.community Go to
https://drip.community/swap and click Connect wallet.
A ‘connect wallet’ option is available on the Drip Swap page.
If you need to manage numerous wallets, you must first remove the current one in Metamask before picking the next one and connecting to it from inside the Drip community. Connected Sites was selected from the vertical… menu:
Metamask Connected sites menu item
And disconnect:
A site is being disconnected from the wallet by Metamask.
From the circular menu, choose the next account.
Of course, only do this when it’s time to switch to a new wallet.
Purchase Drip
Drip Fountain, where you may exchange BND for Drip
Let me simply remark that the price has drastically risen in recent days. Rest certain, it will return to new highs during the course of 2022, with Bitcoin driving the crypto markets. As well as by global events such as Russia’s invasion of Ukraine. Drip also reacts to other initiatives undertaken by Forex Shark’s development team, such as Animal Farm.
Although the beginning price is significant in any trade, it is less crucial in Drip since a Drip investment rises at 1% every day (0.95% after hydration tax) independent of what the rest of the market does. See my other post for more information on the consequences I anticipate from my Drip investment.
DRIP — The five phases of grief
Now, use the BNB in your wallet to purchase Drip. You must leave some BNB to cover the Gas expenses. I want to leave 0.1 BNB, which should be plenty for two months of hydrating and claiming. If the price is right, buy more immediately.
You will be informed of the number of Drip you will get.
Drip may be purchased with BNB.
You must launch the Ethereum app on your hardware wallet. Metamask will provide you a dialog with the transaction details, including the predicted gas costs. Please confirm.
Your Hardware Wallet will flash “Review transaction.” Navigate through the displays and click “Accept and Send.”
Ledger Wallet — Review Transaction Approval
Ledger Wallet — Fees
Ledger Wallet — Accept and Send transaction
- I maintain records for all important transactions, particularly because I never know what our tax agency may need. So I mark the transactions in BSCScan.com’s private note box.
- • Make sure you have a BSCScan account and are logged in to the https://bscscan.com website.
- • After the transaction completion window appears, click on the Link.
- • Fill out the private note box with information.
Transaction on BSCScan.com, with a Private Note I inserted.
Now I can view a transaction history in an easy-to-read manner. This is also a fantastic thing for me to do since I have many wallets (12 currently).
Transaction history in an easy-to-read format
Please keep in mind that in certain circumstances, such as this one (where it is new to me and there are unknowns), I err on the side of caution and may provide too much information. Do what seems natural to you.
You need a companion.
You’ll need a partner before you can deposit drip. They are your direct supervisors. Their friend will be two levels above you, and so on. The depth of your upline matters when you set up a parent wallet and have another wallet as a child of this (the parent is the buddy of the child). This topic is addressed in:
• DRIP — The five phases of bereavement
In that piece, I also explain why certain mates are superior than others. Buddies earn a modest incentive, which is intended to motivate more individuals to Drip.
Use the following buddy link:
drip.community/faucet?buddy=0x644c3F88f2d32842f60C4CC3247116AAbF959514
Then, to join up as my Buddy, enter my wallet address:
0x644c3F88f2d32842f60C4CC3247116AAbF959514
Deposit Drip Get a Buddy conversation on the Faucet page
You should also notice a Drip Balance on the deposit dialog on the Faucet page (see below). Select MAX or enter the amount of Drip you want to deposit (at least 1.12 Drip) and click Deposit.
You must first confirm using Metamask and then verify with the hardware wallet. While depositing, any Drips available (from earlier deposits) are moved into the Deposits. This is done as a single transaction, and you will be charged one one gas cost. Gas costs are really insignificant in the grand scheme of things, as I shall discuss more in a future essay.
Faucet page on Drip.community for depositing, hydrating, and claiming
Hydrate! Furthermore, claim
Every day, 1% of your deposit becomes accessible. There are buttons on the Faucet page to Hydrate (compound) and Claim.
Given the taxes and petrol prices, when should you begin? You guessed it – a future article subject!
As the name implies, the purpose of hydrate (compound) is to add the available to the Deposits and so compound the interest. After pressing the button, you must confirm using Metamask and verify on the hardware wallet.
Visit https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php to see compound interest in action. and pick your initial Drip number (I chose 100 below), 0.95% daily interest rate for 4 years compounded daily (365). It is 0.95 since there is a 5% tax on hydration. For deposits, it is 10%. This will be explained later (basically, these taxes enable the 1% interest to be paid).
Wow, 99 million drips from 100 drips in four years.
It will never reach 95 million – this was a demonstration of compound interest’s power. However, it will reach over 30,000 drips, which is 3 million dollars at $100 each drip. However, this is not the case since you gain your money by claiming interest. The answer is that a single wallet will pay out roughly $4,000,000 after all of the money is claimed (assuming Drip‘s price stays at $100, which it will not and should rise over time).
Payouts are discussed in my essay DRIP — The Five Stages of Grief.
Claiming will deposit the available funds into your Drip account. On the Fountain page, you may sell the Drip for BNB.
Depending on your demands, there are many ways for hydrating and claiming. The amount you deposit also has an impact on the result. These are prospective article topics.
That’s all there is to it, albeit I skipped over a lot of specifics. More information is available at:
• Whitepaper on Drip
• Smart contract DRIP
• Check out my essay DRIP: The Five Stages of Grief.
• As well as my piece on Drip security.
• I’ll also be publishing additional articles. So stick with me and remain tuned.