Frequently asked questions about cryptocurrency DRIP

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Frequently asked questions about cryptocurrency DRIP

DRIP is a cryptocurrency token that runs on the Binance smart chain. The DRIP Faucet is a smart contract that pays out 1% per day for 365 days on the DRIP that was put on the contract. Each new deposit or compounding earnings also earns 365%, paid out at 1% per day.

How much is DRIP?

Drip was launched in April 2021 and has since hit a high of $32 and a low of $6, but it’s best to check the actual token price here:

https://coinmarketcap.com/currencies/drip-network/

How can I get my money from DRIP?

You will receive your 1% daily until you reach 365 payouts. You can choose to withdraw the DRIP in your “Available” balance to your wallet. Or you can go to the “Exchange” page and exchange them for BNB, which you can then withdraw to your wallet. You can do whatever you want with your wallet, such as sell it for fiat, bet it for interest, or reinvest it in other cryptocurrencies. You can also “hydrate” to compound interest payments, increasing your investment over time.

How long does it take to make money with DRIP?

Well, it depends on how much you invest initially, how often you hydrate or withdraw, and whether you want to build a team or prefer to go it alone.

Where the interest payments come from?

There are several factors to consider. There are a number of taxes of 10% on DRIP escrow and filing, while there is only a 5% tax on DRIP compounding/dehydration. This tax goes into the tax vault and is ready for interest.

It is important to note that the interest does not become tokens until it is claimed from the tax vault.

Over 85% is currently held in tax vault and another 8.5% is held in a swap contract (so we can buy more DRIP). 85% is not a bad reserve. How much does your bank have in reserve in case of a massive withdrawal of currency? (Hint: well capitalized bank holds at least 5% of its capital in reserve, and it is considered good if a U.S. bank holds 6.4%!)

Do you have to exchange BEP2 for BEP20 on Pancake Swap to buy Drip. Or you can just exchange BNB for Drip on the Drip platform?

You don’t need to go to Pancake Swap at all if you don’t want to buy BR34P for referral bonuses.

You only need BNB to buy Drip, which you can get on Binance, etc., and as long as your MetaMask wallet is connected to Binance Smart Chain, it will automatically change BEP2 tokens to BEP20.

Then you can simply exchange them for Drip on the Drip platform.

Is Drip multi-level marketing?

The short answer is no, Drip is NOT multi-level marketing, although there is an optional referral aspect if you decide to go that route.

The core of the DRIP network will always work to pay 1% per day on your deposits, for 365 days. This works whether or not you attract someone else to the Drip network. To join the Drip community, you MUST have a buddy code. You can connect directly to a developer account, thus avoiding being part of the team, but I personally enjoy interacting with the community that has grown around Drip.

The principle of MLM is that you usually need to buy and sell a certain amount of “product” per month in order to maintain commission and membership levels, with most of the profits going to your upline. The cost of the products also includes these commissions, which doesn’t make them any cheaper than a standard product that pays for advertising.

The cost of Drip is no different if you are on a team or connected directly to a Dev account (I don’t know the Dev wallet address, but presumably you can find it by searching online), but you will miss all airdrops from your team leader if you connect directly to a Dev account. The same taxes that the Drip network supports will apply to all transactions, regardless of who you are connected to. It’s similar to clicking on an affiliate product code in an online store. The cost of the product is the same, but a small amount of commission goes to whoever referred you to that product.

How often should I hydrate (fill) the dropper?

This is a very good question, and it depends on the amount of Drip on your deposit and the amount you want to spend on transaction fees.

Daily interest charges will increase your deposit the fastest, where you will earn interest on your interest every day. Nevertheless, transaction fees go up. This is normal if your deposit is significant and you may be requesting and selling Drip from time to time to offset the cost of these fees.

For small deposits, you can wait until a significant amount of Drip has accumulated to minimize these fees. Then spend your savings on Drip instead of transaction fees!

DRIP was launched in April 2021, so no one has been able to claim anything yet?

Yes, DRIP launched in April 2021, but the 1% is paid daily, so you can claim at any time.

I’m mostly just hoarding at the moment, but I’ve already claimed and sold a few DRIPs to buy other crypto-tokens.

I have found that some people make a small deposit to test the ground and then invest more when they understand how it works.

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