Is DRIP Network Worth It? A Quick Look Into My $6,400 Investment.
I’ve been invested in DRIP for 10 months. When I got started in January 2022, I had no idea what my future held but now that I’m here, I’m really happy with the results.
UPDATE: Since publishing this article, the price of DRIP and every single other mainstream crypto has changed. View current DRIP price on CoinGecko.com. I still believe in DRIP and it’s currently the only project I’m invested in.
In 2016, a guy I worked with said in 2015 he bought $8,000 worth of ETH and that his investment had turned into $60,000. I thought, “wow, that’s great. I should start investing in crypto!” and then did nothing about it for over 2 years 😂
My Crypto / Financial Journey
Seeing how far I’ve come and the things I’ve learned over the years is a really neat thing. I’ve made SO many investment (and life) mistakes that I’d like to share what I’ve gone through in order to land where I am now.
I think there’s value in sharing life’s ups-and-downs. The timeline may be slightly off but this is what I remember:
- 2018 — April: Quit my web development job making $84k/yr and filed for divorce. I moved out of state to live with my parents. I started working for the family business making ~$7/hr.
- 2018 — May: Learned about XRP through my dad & brother (who had invested a few hundred bucks). They lost 2/3 of their investment and said they’d never invest in crypto again. At the same time, I also bought 171 XRP but HODLed… mainly because of the lawsuit. To this day, I haven’t sold the tokens and they’re worth about what I originally paid.
- 2018 — June: Met my (now) wife. Yes, I did move quickly back into dating but it was because I met the right person. She is my absolute LIFE and we’re pregnant now! More on that here: https://coder828.medium.com/why-i-cashed-out-my-retirement-funds-and-going-all-in-on-this-one-investment-38d075d03dc0
- 2020 — August: Learned about Bitcoin, Ethereum, Brave browser (earning BAT), TIME Wonderland, and OHM. I purchased a little of everything and from those, the only ones that made me any money (just a little) were BTC and ETH. However, I sold most of them to pay for medical bills (previous bullet point) and it was TOTALLY worth it!!
- 2021 — January: Heard through the grapevine about WallStreetBets and how they were going to force-increase the stock price for AMC/GME. I threw in $600 and slowly watched my investment disappear. I should become a magician!
- 2021 — September: I discovered Helium Hotspots and spent $750 on one (with some antenna upgrades). After which I learned about the PlanetWatch token and how to mine them using this setup. At this point, I was making a few hundred dollars every month and I’d say it was from here, my crypto journey really started blossoming. I also started getting more comfortable buying/withdrawing/moving crypto from wallet to wallet. On a non-crypto related note, I joined forces with a company that wanted to pay me to promote their product (aka affiliate marketing) so I stopped all my crypto pursuits and put 100% of my free time into trying to sell these products. And wow, all my hard work started paying off!
- 2021 — December: Learned about DRIP but did nothing about it. I thought it sounded too good to be true. I mean, 1% a day? Really?
- 2022 — January: Revisited DRIP and decided to give it a go. Deposited an initial $4,100. Later on (Nov 2022), I added another $2,400.
I’m sure more things happened from 2017 to January 2022 that led me to this point but you get the gist. I have tried many, many, many things to make money online but one of the only investments I’ve made that has set me up for a great financial future is DRIP.
Right now, my DRIP Deposits balance is sitting at 2,469 tokens. The value of this amount is roughly $15,000 with the current price of DRIP sitting at $6.15.
Now, that doesn’t mean I can remove all $15,000 at once. However, every single day, I get to log into my account and do whatever I want with the 1% in daily rewards (which is $151.84/day). With those rewards, I can do 1 of 3 things:
- Claim my available DRIP.
- Hydrate/Compound that available DRIP.
- Do nothing and let my 1% continue to grow on my existing Deposits balance.
The only reason I’d choose #2 above the others is that it increases my total balance and thus, allows me to earn a higher 1% every day.
A few things to keep in mind with DRIP:
- A wallet can earn a Max Payout of 100,000 DRIP tokens. Once your wallet hits this number, it cannot earn anything more.
- There are taxes (in the form of DRIP) on all transactions except for buying DRIP directly from drip.community/fountain.
- There’s a 10% tax on deposits, 10% tax on sells, 10% tax on claims, 5% tax on hydrates/compounds, and a few other taxes for accounts with a ton of money.
- In order to join, you must use an existing user’s referral link and/or Buddy ID.
- Once you make a deposit, you can’t withdraw that money in a lump sum. It’s locked/burned. But you’re depositing into a contract so it’s guaranteed to pay you that 1% daily.
- Every transaction will cost a small amount of BNB (on the Binance Smart Chain).
So, as you can see, there are some things with DRIP I was worried about — mainly all those taxes. But in the grand scheme of things, those taxes mean nothing; they’re in place to keep the ecosystem growing and paying out 1% daily.
The beauty of DRIP is that anyone can make a deposit and watch their Deposit balances grow over time. Depending on how much you deposit will determine how long your wallet takes to reach that Max Payout.
There are other methods to growing your DRIP Deposits balance (without investing your own money) such as Team Building. I won’t cover that in detail today but you can watch my video on what’s required:
My Ultimate List of DRIP Tutorials
I’ve spent a lot of time coming up with Medium articles, YouTube videos, and even built a website, to help people get started with DRIP. In reality, it’s a simple process to start but most people don’t have a clue where to begin. That’s why I’ve created these simple, step-by-step guides on getting started!
- How to Install a 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/drip-network-buddy-id-drip-crypto-c38978e71478
- 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
And that’s it! Everything I’ve mentioned in this article is NOT financial advice.
If you are interested in joining DRIP, feel free to use my information to get started:
- Sign Up URL: drip.community
- Buddy ID: 0xC45B2dF781c1d011532eF5676591226Cd16e16A1
Thanks for reading!