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Crypto Strategy #6 - DRIP - How I make $1500/month in completely passive income on a $5k investment
In this video, I walk through my #6 crypto strategy, which is DRIP.
I currently have $5k invested in this project and am making $1500 (1%/day). My plan is to pocket half of that, and reinvest the other half to compound.
Please use my referral link if you sign up for drip! http://drip.community/faucet?buddy=0x4DDe991518F617bcB5d2399Bc5d7CeB82eafC65D
Here are the steps to getting started with DRIP
1) For DRIP, you need BNB (Binance coin), so head over to Binance.us and purchase as much as you are going to want to deposit into DRIP
2) Wait for your purchase to clear and then withdraw your BNB to your MetaMask. Make sure to deposit to the BSC Network (Binance Smart Chain)
3) Go to the drip fountain (https://drip.community/fountain?buddy=0x4DDe991518F617bcB5d2399Bc5d7CeB82eafC65D).
4) Approve Drip to use your MetaMask wallet, then enter how much BNB you want to turn into DRIP
5) Next, go to the faucet page (http://drip.community/faucet?buddy=0x4DDe991518F617bcB5d2399Bc5d7CeB82eafC65D)
6) Again, approve for Drip to use your metamask account, and then deposit max. I believe they will make you choose a "buddy", so please enter my address (0x4DDe991518F617bcB5d2399Bc5d7CeB82eafC65D)
7) Now, every day, you can go to the faucet and either "Hydrate" (compound) or "Claim" to get your reward drip.
A couple of dislaimers:
-This is not financial advice, just showing you what I did. Please do your own research.
-Whatever you deposit into DRIP is GONE. You get 1% of your deposit daily, but you can never "withdraw" your DRIP. That means if you withdraw every day, it will take you 100 days to get your initial deposit back. This is actually a good thing, because it keeps the price of coin high, because no one can make a run on it (since you can at most withdraw 1% per day)
-Here is the spreadsheet if you would like to make a copy and mess with the numbers: https://docs.google.com/spreadsheets/d/15Ey7en70vmizzBQpvPHBC4NTTgFBwQF7FRJx88xN2tk/edit?usp=sharing
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