My YouTube Video (OPTIONAL)

If you don't want to read this post, I have put the link for the video below so feel free to check this out. This way you might understand it a bit better than just reading. Personally, I think it is better to read my posts here and to watch my videos on my YouTube channel as this gives you 100% understanding of the platform. I always like to give an option to my followers, thanks for the continued support.

DRIP Network Guide: https://youtu.be/BWEcd1wN8zs

Intro

Hey everyone, I am really excited to show you this DeFi platform and hope this tutorial post will help to decide if it’s the right opportunity for you or not. Today I will be talking about DRIP Network. But before I get started,  if you are interested in earning crypto online by playing games, running apps, watching videos and investing into DeFi platforms then please take one second to follow my channel. This really means a lot to me and thank you so much for the support.

My name is Ryan and welcome to my channel “Crypto Earnings 101 where I help you make extra crypto online.

What is DRIP

DRIP Network officially launched in July 2021 and has built up a huge reputation and audience since its release. I first heard about this last year but never actually properly looked into it until now. This is my guide on what DRIP network is, how to get set up and how you can potentially earn from it, so keep on watching to find out.

So what is DRIP Network? This is a low risk, high reward contract platform which pays you 1% daily return on your investment. The protocol is built on the Binance Smart Chain (BSC) and the native token for this platform is called DRIP. The project was created by “Forex Shark”, he is a well known developer in the crypto space and currently has a couple of other platforms in development, one of them being “Animal Farm” which I will go over in future posts. It is important to note that he hasn’t publicly doxxed himself, however his identity has been privately verified through a KYC process.

To get to DRIP Network, type drip.community into your browser and you will land on this page (see pic below). It tells you here that DRIP is the official token of the network and it runs on Binance Smart chain.

DRIP CHART

Just before I show you around the dashboard, I just wanted to quickly show you the chart for DRIP (see pic below). You can see here what DRIP is currently trading at and if we go over here, you can see that the ATH (all time high) was just over $160 back in January 2022. Will we see this price again? Who knows, if you have any predictions, comment below as I would love to hear them.

How Does DRIP Work

Before you invest into any platform, please be aware that I am not a financial advisor and this isn’t financial advice, This is purely for educational and training purposes, always do your own research and only invest what you can afford to lose. How does Drip actually work? So this works by investors depositing DRIP tokens into the “Faucet” and then they start earning 1% daily return on their investment, this is capped at 365% for each deposit. So you are probably wondering how they can sustain this platform paying every investor 1% daily? So in order to create a DeFi platform that can pay out 1% daily, it needs to have a really solid system to maintain these payouts. So how they do this is by taxing transactions to create profits, this might sound a bit weird at first but this is what makes DRIP Network so great.

Taxation

As I just mentioned about DRIP network taxing all transactions, I will try and break this down a bit better for you so you understand this a bit more. As far as I am aware, everytime you deposit DRIP into the faucet, you are taxed 10% of the total amount. Let’s say you deposit 1 DRIP, 0.1 DRIP will be taxed and you are only depositing 0.9 DRIP, this taxed amount then goes into the DRIP Network to pay for running of the Network, creating profits to pay everyone and probably paying staff too but don’t quote me on that. When you sell DRIP to BNB, you are also taxed 10% for this and every time you Hydrate (Re-invest) this also taxes you 5%. These are all just littles things to keep in mind if you decide to invest into DRIP Network.

How To Buy DRIP

I will now show you how to buy DRIP. If you go to DRIP Network, I mentioned earlier it was drip.community. Since DRIP is on Binance Smart Chain, you will need BNB in your Metamask to be able to buy DRIP so you can then deposit and start earning 1% daily interest. If you are not sure how to buy BNB I will put a link below for my Binance Tutorial video, this will explain everything you need to know. Also, if you aren’t sure how to install Metamask onto your browser or add Binance Smart Chain to Metamask, I will put the link in the description for this as well, so feel free to check these out.

Link for Binance Tutorial - https://youtu.be/v18UKz_3xlg

Link for adding BSC to Metamask - https://youtu.be/whCaqIz4w8w

To connect your Metamask Wallet, simply go to the “Connect” button in the top right, select Metamask from the list and make sure you are on Binance Smart Chain. If it is your first time connecting to DRIP Network you will receive a notification in your Metamask extension to approve this transaction. After you have approved this, your wallet will now be connected to DRIP Network.

The first thing you need to do is go to where it says “Swap”, click on this and it will take you to this screen (see pic).

I believe if you buy DRIP through the swap section, there isn’t a 10% taxation on it so this is the best place to buy your DRIP. As I mentioned earlier you will need to have BNB in your Metamask wallet to be able to buy DRIP. To get started on DRIP Network, you need to deposit a minimum of 1 DRIP, take into account the taxation fee as well so this is something to be aware of when you come to depositing.

Once you have funded your Metamask with BNB and decided how much DRIP you want to invest, if you click on this box and type in the BNB amount, below you will then see an estimated amount of DRIP you will receive (see pic below).

For example if I wanted to invest 0.1 BNB, you can see here how much DRIP I will receive. After you have done this, click on buy and you will receive a notification from Metamask. You might have to approve this first, this is only a one time thing you need to do and usually costs around 10 cents. After you have approved this, you will get another notification from Metamask for your BNB  to DRIP transaction, all you have to do here is click on “confirm” and in less than 1 minute you should have DRIP in your wallet. Usually the fees are around $0.30 for this, however this depends on time of the day and how busy the network is.

How To Add DRIP To Metamask

Now that you have bought DRIP, this won’t show up in your Metamask Wallet until you have imported the token. This is a very simple process, head over to CoinMarketCap and search for DRIP. It will bring up this page, you can add it directly to Metamask by clicking here or you can copy the address and add it manually (see pic).

To do this go back to your Metamask, make sure you are on BSC, at the bottom click on “Import Tokens” and then in the contract address box, paste the address in here and it automatically fills all the information out for you. Click on save and you should now be able to see your DRIP tokens you just bought. (See pic below)

How To Deposit DRIP Tokens

Now we need to deposit DRIP into the faucet to start earning that daily 1%, if you go to the “Faucet” tab the first thing you need to do is make sure you have a buddy. Without a buddy I don’t think it is possible to deposit your DRIP tokens into the Faucet, however I could be wrong. So if you want to use my buddy address, I have put this below and all you have to do is put the address into the box here (see pic). 

Buddy Address: 0x79B394076A89DAbE96061A3E166156398f9e2d8A

How To Hydrate

I will now show you how to Hydrate. So you can see here that there are 2 buttons, “Hydrate” and “Claim” (see pic below).

Hydrate is just another word for compound or reinvest, so this works by reinvesting your available DRIP back into your deposited DRIP. So you are basically getting interest on top of interest and in the long term you will earn so much more, this is how compounding works. To hydrate, it is a pretty simple process. Click on “Hydrate”, a notification appears from Metamask, make sure you have enough BNB to pay for the fee and click on confirm. Your available balance will now be added to your total deposits. Remember to take note that there is a 5% taxation fee whenever you Hydrate.

How To Claim DRIP

Claiming DRIP is the same process as Hydrate, click on claim and you receive a notification from Metamask, confirm this and within 1-2 minutes you should see your DRIP tokens in your Metamask Wallet if you have imported them correctly. To then swap your DRIP tokens to BNB, go back to the “Swap” tab and this time head over to the sell DRIP section here. In this box type in how many tokens you want to sell and then click “Approve DRIP”. Metamask will ask you to confirm this, again this is only a one time transaction and will cost around $0.10 in BNB. After this has been confirmed you can now sell your DRIP by confirming it in Metamask. Your DRIP will then be converted to BNB which you can easily transfer from Metamask to an Exchange such as Binance.

Different Strategies

There isn’t a right or wrong way to go about an investing strategy. Some people like to compound to build up their deposit balance quickly so they are earning more per day. Others like to be more conservative and get their capital out first and then compound to build up their balance for profits. So it really depends on your own situation what strategy you choose as everyone's circumstance is different.

My Strategy

I will go over my investment strategy, again this might work for some and not for others. I am personally doing a 70/30 strategy which means that I will Hydrate 7 times and then withdraw 3 times. I am Hydrating every time my available balance reaches 0.45 DRIP, this is just a number I wanted to hydrate at. You can hydrate as little or as often as you want, just remember that there is a 5% taxation fee when you do this. I am keeping track of my investment through a spreadsheet I made, as you can see I started on 19th September 2022 and deposited 4.927 DRIP, I then reached my 0.45 DRIP target on the 28th September and I hydrated this. So now my total deposit for DRIP is sitting at 5.358. (See pic)

I have put formulas in my spreadsheet to give me live market prices so this is what you can see here in these 2 rows, this is so I know how much BNB and USDT I have paid in fees so far. This is more from a personal preference point of view, so you don’t need to do anything like this if you don’t want to.

Summary

I hope this DRIP Network Beginners Guide has helped you understand what DRIP Network is and how to get started on this great DeFi platform. There is a referral system on DRIP Network but I just wanted to touch on the basics of getting set up and depositing to earn daily DRIP, so keep an eye out for future posts as I will be doing regular updates showing you my current investment and how it is going, along with any updates. If you have any questions, then please comment below and I will try to get back to you as quickly as I can. If you think DRIP Network is for you, I have left the link in the description below along with my Tutorial video (at the top of this post) if you wish to watch this for a better understanding. Thanks for reading and I will see you in the next one.

DRIP Network link: drip.community/faucet?buddy=0x79B394076A89DAbE96061A3E166156398f9e2d8A