How Do I Join the DRIP Network?
The simplest way to get started investing in the DRIP Network.
UPDATE: Since publishing this article, the price of DRIP (and every single other crypto has changed). View DRIP’s current price on CoinGecko.com. I still believe in DRIP and it’s the only project I’m focused on.
Yes, the price of DRIP has dropped significantly over the last year but, it’s the only crypto project I’m invested in that has actually lasted OVER a year (and has a huge amount of promise). That’s saying something in the DeFi (decentralized finance) world.
DRIP’s creator, Forex Shark, must be somewhat of a genius because these types of results are unheard of. Yet, many people still doubt DRIP because of the price decline over the last year and because, to an outsider’s perspective, it looks to be a Ponzi scheme — you can only join DRIP using someone’s referral link/Buddy ID.
My best advice: don’t invest in DRIP if you think it’s a Ponzi. I won’t invest in projects I don’t believe in either.
What’s the Point of DRIP?
If you’re getting started with DRIP, your main goal should probably be to reach “Max Payout” as soon as possible (and the good news is that every single DRIP account can reach this number)!
DRIP’s Max Payout is 100,000 DRIP tokens. A single wallet can attain this amount by either depositing more DRIP tokens to their existing Faucet OR by Hydrating daily.
Hydrating/Compounding is the cheaper way but takes more time if you’re starting with a lower amount of DRIP. As of November 28, 2022, the price of DRIP is $1.56 so the cost of entry is quite low —pleast note: the price of DRIP has probably changed since writing this article!
If you joined DRIP today, here are 2 examples to consider:
- Account #1 deposits 1,110 DRIP tokens. After 358 days of Hydrating/Compounding once a day, they’d reach their Max Payout.
- Account #2 deposits 5 DRIP tokens. After 918 days of Hydrating/Compounding once a day, they’d reach their Max Payout.
Once an account reaches Max Payout, the ONLY thing that account should be doing every day is Claiming! That’s because the Max Payout of 100,000 DRIP tokens is the most every wallet can earn. Once you reach it, stop depositing/Hydrating and only claim until you’ve claimed 100,000 DRIP.
There are other strategies that include getting your initial investment back instead of waiting until reaching Max Payout before taking profit:
- Hydrate-to-Claim ratio of 5:2. Using a 1,110 DRIP deposit today would get you to Max Payout in 509 days. At this point, your Total Claimed balance would be 42,301 DRIP and you would put 9,833 DRIP tokens back into your wallet. You’d have 57,699 left to Claim.
- Hydrate-to-Claim ratio of 6:1. Using a 1,110 DRIP deposit today would get you to Max Payout in 420 days. At this point, your Total Claimed balance would be 34,418 DRIP and you would put 4,040 DRIP tokens back into your wallet. You’d have 65,582 left to Claim.
- Hydrate-to-Claim ratio of 13:1. Using a 1,110 DRIP deposit today would get you to Max Payout in 387 days. At this point, your Total Claimed balance would be 31,699 DRIP and you would put 1,894 DRIP tokens back into your wallet. You’d have 68,301 left to Claim.
With all these numbers, there will be a 10% tax on ALL sells (converting DRIP back into BNB, tax paid in the form of your DRIP earnings).
Using the current price of DRIP ($1.56), an initial investment of $1,731
How DRIP Works in 3 Easy Steps
- You buy DRIP tokens using BNB (on the Binance Smart Chain). Buying DRIP directly from https://drip.community will save you 10% in purchase fees.
- You visit the Faucet page and add a Buddy ID under the “Get a Buddy” section. Normally, I’d post my Buddy ID but I’d like to keep this article as information only :) Once you add a Buddy ID, you’ll deposit those DRIP tokens into the Faucet contract. Once you deposit your DRIP, your funds are locked but since it’s an immutable contract, it’s obligated to pay you a daily 1% back in the form of DRIP tokens.
- Return daily, and: Hydrate (Compound) or Claim profits. You could also spread these actions out every other day, every week, every month/year to save the $0.45 BNB fee that’s charged on these transactions.
The DRIP Network runs on taxes. Here’s a breakdown of the taxes you can expect to pay on the lifetime of your account/wallet. All of these taxes are paid in the form of DRIP tokens only!
- 10% deposit
- 10% claim
- 5% hydrate
- 10% sell
- 5–50% whale (once your claimed amount is higher than 10k DRIP tokens)
How to Get Started With DRIP
I’ve spent a great deal of time writing articles and making simple videos on how to get started with DRIP. Included below are my beginner tutorials including my step-by-step DRIP guide (video). I hope they help!
- How to Install the Wallet Needed for DRIP: https://coder828.medium.com/how-to-install-metamask-or-walletconnect-for-drip-dd3dd5c5a3a4
- How to Buy BNB for DRIP: https://coder828.medium.com/how-to-buy-bnb-for-drip-investing-6ffaf1ac5996
- How to Add a Buddy ID in DRIP: https://cryptozoa.com/how-to-add-a-buddy-id-in-drip-network-4e16944fec69
- How to Buy DRIP Tokens (and save 10% in fees): https://coder828.medium.com/how-to-buy-drip-tokens-and-save-10-percent-in-fees-9621a8c30453
- How to Hydrate DRIP (re-compound): https://coder828.medium.com/how-to-hydrate-drip-15979c562389
- How to Claim DRIP (allows you to sell/send DRIP): https://coder828.medium.com/how-to-claim-drip-tokens-32d7b48fe53c
- How to Sell DRIP (from DRIP to BNB to Cash): https://coder828.medium.com/how-to-sell-drip-tokens-back-into-bnb-3ad91c916597
Comment below if you have any questions!