I’ve had a lot of people in my real life starting to pick up on the things I’m doing in the DeFi space, and always want in when they find out that I’m making $7500+ per month with minimal effort and a low initial investment.
Photo by Shubham Dhage on Unsplash
Yep — that is correct, as of the writing time of this article I have the potential to earn about $7500/mo from DRIP alone if I wanted to claim it out every day.
But this article isn’t about my incredible success in the DeFi world (#humblebrag) — it’s about how I think that YOU should put your $500 to work for you today, and do it in the most stable project that I am a part of in this space.
That project is DRIP. What is DRIP you ask? The short version is: DRIP is a DeFi project that can provide passive income. You purchase your DRIP and deposit it into the Faucet, then the Faucet pays you 1% per day every single day in new DRIP tokens. You can choose to Hydrate (compound) your daily 1% back into your deposit so you receive more tomorrow, or you can choose to claim your earnings back out. That is an extremely simplified version, but hits the highlights.
Now I’m going to do something that I don’t typically do in my articles, I’m going to spell out exactly what $500 put into DRIP today will look like in 1 year.
I’ll be using the price on the DRIP Swap page for converting BNB to DRIP for this, and the current DRIP price there is: $41.50, with the Current price of BNB at $568, we’re going to convert .88 BNB ($500) to DRIP in the Swap page.
We’ll receive 11.78 DRIP for that — that’s perfect, it will leave us with just over 10 DRIP in our deposits after the deposit tax is taken out.
We’re also going to implement a strategy of hydrating only for the first 30 days.
So you start with 10 DRIP, then at the end of 30 days of Hydrating, you have 13.155 DRIP, and if the price stays at $41.50 (it won’t, it will most likely increase) you will be earning $5.46 per day (before taxes). That will get you about $165/mo — just from putting that initial $500 in.
From there, we’re going to switch to a strategy of alternating claiming and compounding for the rest of 1 year.
Following exactly what I laid out above, hydrating every day for 30 days — then alternating claim/hydrate every other day — on Day 365 you will have 63.803 DRIP in your deposits. Your daily rewards would be: .63 DRIP, or $26.23 if the price is still $41.50.
Since you are alternating Claiming and Hydrating, you would have claimed a dollar value of $1700 (that is after all taxes taken out, and assuming that $41.50 price), and then you’re earning that $26.23 per day on top of that.
After a year, you could switch to claim more often — if you claimed every day for 1 month you would make just under $800 for that month at this point.
In these examples, I used $41.50 for the DRIP price because that’s today’s number on the Swap page. The price won’t be $41.50 — but that’s a good place to keep things reasonable. The DRIP community is calling for $75+ price for DRIP, and I’ve even seen the developer say that he can make a case for a DRIP price over $3,000.
.63 DRIP/day @ $3000 is $1890/day. Not bad for a quick easy $500 start is it?
So there it is — my simple straight forward plan for you to turn $500 into a lot more than $500 within a year.
Want to read a bit more about DRIP before getting started? Here is a better rundown of what DRIP is: How I Could Buy All of My Christmas Presents This Year with Crypto, If I Wanted To!
I will admit — I was a bit freaked out in the beginning about having to make my deposit, and only claim it out through the hydrate/claim method — as opposed to being able to pull my initial deposit back out at any time — but as I’ve gotten more comfortable with the DRIP Network, and look at the future projects getting ready to come out I wonder what would have happened if I had gone even bigger on my initial deposit.
Read a bit more about my DRIP Journey here: Crypto Retirement Update — 60 Days in DRIP, how does an extra $5,500/mo sound to you?
I am part of the Cryptozoa DRIP team. We are a global community of DRIP enthusiasts who are welcoming and helpful. We converse on our own private Telegram group where we share DRIP tips, strategies, breaking news, and more. If you would like to join in the conversation, please join the Cryptozoa team (by getting into DRIP and using my Buddy address above), and then head over to my Personal Telegram Gateway. I can help you get going with DRIP if you need it, or answer any questions you have as well (to the best of my ability!)
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links.