Compounding Crypto

Compounding Crypto

How to Use a Defi Platform to Earn Passive Income – Step by Step Guide to +$100K

Many people dream of the day when they can comfortably live off their investments and not rely on their job.

Do you know what it takes?

$100,000 a year seems like it will take care of all the necessities. Compounding crypto is your route to $100K. I thought it was going to be hard until I read about Drip. I kept wondering if it could be done and with a small investment.

What is Drip?

Drip Network is a decentralized platform on the Binance Smart Chain that gives you 1% rewards in Drip tokens each day. You can either sell your Drip tokens to get cash, or invest them back into your initial deposit to receive more Drip rewards. Follow this:

  1. You have 100 Drip in you deposit account
  2. Every day, you earn 1 Drip (1%)
  3. You can choose to claim that 1 Drip and sell it into something else (BNB, USD, EUR, …)
  4. Or you can compound – reinvest – it into your deposit, which will now hold 101 Drip. You will now be earning 1% of 101 drip every day, or 1.01 Drip.

So how is this sustainable you might be thinking?

Well, every buy, sell, transfer, deposit and so on is taxed 10%. It is these taxes that pay for the 1% rewards that are pushed out to all of us with Drip in our deposit accounts. Only exception to this is buying Drip on the Drip platform (0% tax) or reinvesting your deposit (5%).

Alright, ready to start on the journey toward $100K per year?

image showing graphs and candlesticks
1) Buy Drip on the Drip Platform

So, for this you need $2112 to spend. You can of course start with less or more, results will just come later/earlier.

Now you are ready to get started on the path to building a stream of passive income. The first thing you’ll need to do is convert your USD or other currency to BNB on the Binance Smart Chain and buy Drip within the ‘Fountain’ on the Drip platform (https://drip.community/fountain). Because we’re buying it on the platform, we do not have to pay a tax. At the current price (approx. $13), you now have 162.462 Drip.

2) Deposit Drip into the Faucet

The Faucet? undecided

You will probably get the water theme terms by now, so the faucet is the staking rewards deposit account on the platform. 1% a day is what you will receive once your Drip is in the faucet. As a result of the 10% tax, your balance will now show 146.215 drips. I will share my address if you need a buddy address: drip.community/faucet?buddy=0x41F7edc6ACe7652EA0E5Aee518556286c392D498

3) Receive your first Drip and Hydrate

I imagine coming up with all this was like a hike through the desert. Anyway, time to hydrate.

Once your Drip is in the Faucet, it will immediately start to generate the 1% daily rewards. About 24 hours later, it is time to make your first reinvestment into the Faucet, or ‘hydrate’ — which is what it is called on this platform ( 1% of 146.215 is 1.462 drip, but we also pay a 5% tax for ‘hydrating’, which puts our new balance in the faucet at 147.604 Drip. (146.215 + 1.462*0.95).

4) Hydrate Daily for a Year

You’ll continue to hydrate every day for 364 days. On the 364th day, we will have 4,567.67 Drip in our ‘Faucet’ account ($59,379 at the current price of $13), which means that we are earning roughly 43 Drip per day ($562 at the current price of $13). You’re now making enough to retire on a +100k salary!

5) Claim 4 Days a Week and Hydrate the Other 3 Days of the Week

So why not just claim your 1% every day and live off of that?

First of all, we need to keep in mind that the Faucet has a Max Payout of 3.65 times the deposit amount!

This Max Payout is the maximum amount that can be claimed (taken out of the Faucet) based on the current deposit amount. So our Max Payout at a deposit amount of 4,567 Drip is  16,671 Drip. This means that if we claimed every day, our Max Payout would stay the same, and we would stop getting our 1% reward once we hit 16,671 Drip (when ‘Claimed’ = ‘Max Payout’). But if we hydrated some days and claimed others, our deposit amount would continue to grow as well as our Max Payout amount. What we need to know is — what is the maximum amount of times we can claim a week so that we do not hit our Max Payout? The answer: if we claim 4 days a week and hydrate 3, we will not hit our Max Payout amount (until we hit the maximum-Max Payout amount of 100k Drip).

6) Retire or work less or ...

Regardless if you understand the last step, we now know that we should hydrate 3 days a week and can claim the other 4. So how does this math workout to a +100k salary? Let’s look at it:

  1. 4,567 Drip in the Faucet rewards 1% a day or 45.67 drip per day
  2. 45.67 Drip per day works out to $593.79 per day at the current price of $13
  3. There’s a 10% tax to claim Drip out of the Faucet, so $593.79 * 0.9 = $534.41 per day
  4. There’s another 10% tax to sell Drip, so $534.41 * 0.9 = $480.97 per day
  5. We’re claiming 4 days a week (as explained above), which works out to $480.97 * 4 = $1923.90 per week
  6. And with 52 weeks in a year, 52 * $1923.90= $100,042.94 a year → you’ve made it!

Note: To perform this exercise, we had to assume that the current price of $13 would stay the same over the course of the year. There has been a low of $2 and a high of $54 since the launch, so the price could fluctuate. After the 12 months, we would still be hydrating 3 times a week, increasing our deposit in the Faucet, so our salary would continue to increase over time. I mentioned that there is a maximum-Max Payout of Drip at 100k. If we add more to our deposit, the Max Payout in our Deposit will no longer grow, even if we add more. We will want to claim every day and transfer our money to another wallet in order to continue getting the 1% rewards.

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.

Set To Go?

I hope you’re now about as excited as I was when I discovered Drip. It’s a revolutionary platform that provides a sustainable source of passive income. With a little patience and a little persistence (connect each day to click the hydrate button!) you can also realize your financial goal utilizing crypto compounding.

How to get started with DRIP

1. Go to https://drip.community/fountain and exchange BNB for DRIP using your Meta Mask wallet or Binance Smart Chain wallet. You’ll need at least 1.2 DRIP if you want to deposit it later to earn the rewards.

2. Go to https://drip.community/faucet to deposit the DRIP that you purchased. You’ll need to enter a buddy address in the Referral section in order to make a deposit (clicking the ‘Buddy Detected’ button will automatically populate my buddy address in the field).

Consider joining using my buddy address: 0x41F7edc6ACe7652EA0E5Aee518556286c392D498

3. Deposit at least 1.12 DRIP to receive 1 DRIP in your faucet (Note: Make sure you have enough BNB to pay for the gas fees which are typically ~0.01 or less per transaction. I suggest you leave 0.1 BNB)

4. Once deposited you’ll start to receive 1% daily. Every 24 hours compound by clicking the HYDRATE (re-compound) button.

Invest In Your Future

Invest In Your Future

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The Who, What, Why, and How of Forex trading | Gains and Profit

The Who, What, Why, and How of Forex trading | Gains and Profit

The forex market (also known as the foreign exchange market, forex, FX, and currency market) is the worldwide market for the trading of currencies. It has been estimated that $1.5 trillion worth of foreign exchange takes place every day, making it the largest market in the world.

The currency of a country is the unit in which money values are expressed. Currency trading involves the buying and selling of currencies for profit or to hedge against adverse movements, such as a drop in value due to inflation. Forex (foreign-exchange) markets are those that deal only in foreign exchange; these may be thought of as the casino of the financial world.

If you want to be a successful trader, then take note of a few simple, yet important tips:

·          Patience is key – You should stay calm and composed even if things are not going according to plan. It will take some time until you get used to your trading pattern.

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·          Leave Your Emotions Behind – Thou shall not trade on emotions! As a trader, your goal is to stay as cool as possible and never let your hopes or fears get in the way of your trading.

·          Have a Trading Plan – Before entering the market, you should have set rules for entry and exit points. Make sure that you stick to these rules at all times. You should never bend your trading rules no matter how much money you are making.

·                Stay Focused – Be in the present and don’t let your mind wander. You have to focus on the market at all times and not get distracted by other things that may come up during a trade.

·          Accept Losses – You should realize from the very start that losses are part of trading. There are ways to keep them to a minimum, though. The best way is to risk only 1% of your trading capital on each trade and have the proper stop-loss in place.

·          Don’t let Emotions take over – You should never deviate from your plan; rather than risking everything you make, you should aim for consistent growth.

·          Don’t trade too much – You should never open more than three trades at a time. It is very risky to be trading with many positions at the same time. If you want to do it, then keep your risks down by not risking more than 1% of your capital on each trade.