Don’t Go Down the Drain Trying to DRIP!

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You read stories on the Internet about people that lost their crypto in the 1’s and 0’s of the blockchain universe and think “oh, that won’t happen to me, I’ll be careful.” I had a pretty good run until, you guessed it, I sent some BNB coins out into the void trying to buy DRIP. I hope to see them again one day, but I am not holding my breath. Luckily I was still able to invest in DRIP, and look to supercharge my retirement income. I have a lot of traveling planned when I retire in a few years!

Photo by Asad Photo Maldives from Pexels

I always tell my students (I teach high school math) that the learning process can not take place without making mistakes. Mistakes are an integral part of learning in everyone’s life. Well, hopefully I can share my mistake to help someone out there not make the same one.

This all started when I tried to get BNB coin to my Metamask wallet in order to invest in some DRIP. If you have not heard of DRIP, I have a description of it at the end of this article. One way to buy DRIP is to send BNB to your Metamask wallet. Then you can exchange it for DRIP on the Fountain page on the DRIP community website (link and further direction at end!)

So I bought USDT coin on Coinbase Pro and sent it over to my Kucoin account to buy BNB since you can not buy it on Coinbase Pro. All good so far. I’ve got my BNB coin and started the process of withdrawing it from Kucoin, and sending it over to my Metamask wallet. This is where things went awry.

Take a look at the withdraw form. That first box is the key to my entire mishap. Notice that it indicates Binance Chain Native Token. This is on the BEP2 network. This form of BNB is NOT the form you need for the Binance Smart Chain. This is very confusing when doing a transfer for the first time. Binance Chain Native token is on the Binance Chain — the BEP2 Network. What I needed was BNB on the Binance Smart Chain Network — the BEP20 Network. From the dropdown it looks like you can send your BNB to the BEP20 network, but… you can not.

So I sent off my BEP2 token to the BEP20 network. I’m sure you can already guess what happen. Poof! Gone. Panic ensues. Googling begins to find a solution, help tickets sent off to Kucoin, and so on. So after crying over my spilled milk for a bit I set out to figure out what happened and how to prevent it from happening again. You already know the “what” so I will describe the “how.”

As a disclaimer, there may very well be other ways to accomplish getting BNB from Kucoin to your Metamask Binance Smart Chain wallet, but this is what worked for me based on the tools I am used to.

For this process you are going to need to download Trust Wallet on your phone. They do not have an online app. You can actually do this whole process on your phone if you have the Kucoin app and either of the Coinbase apps

Here is my process:

  1. Download and set up your Trust wallet. This will be the place you swap your BEP2 BNB for BEP20 BNB. Make sure you write down your seed phrase and keep it somewhere safe.
  2. Buy USDT on Coinbase Pro. You could buy this on Coinbase as well. I started my crypto journey using Coinbase and Coinbase Pro so I just stick with it.
  3. Withdraw your USDT from Coinbase (or Coinbase Pro), and send it to the USDT address on Kucoin. This part is important. You need to get the deposit address for USDT on Kucoin. From your ASSETS page click DEPOSIT. Then search for USDT coin in the search bar. I like to put it in my Trading Account since I am going to convert it to BNB anyway, and it needs to be in there to do that. Copy the Tether address by click the little icon that looks like two pieces of paper.

4. Paste the copied address into the appropriate spot in the app you are sending the USDT from. In Coinbase, you will click SEND, find the USDT coin, choose the amount you want to send, CONTINUE and paste the copied address in the “TO” field. In Coinbase Pro, go to your portfolio, click on USDT, then Withdraw. Choose send to Crypto Address. Paste the Kucoin address in the appropriate spot, and fill out the rest of the information. Click Withdraw USDT. Then wait patiently for your funds to arrive in Kucoin.

5a. Now that your USDT is in Kucoin you can trade it for BEP2 BNB. Once you have your BEP2 BNB, you will WITHDRAW it and send to your Trust Wallet. You need to get the BEP2 BNB address from your trust wallet.

Notice the bottom two coins on the left. You are sending BNB. Tap that one to get address!

5b. Notice in the first panel above there is BNB and Smart Chain. You need to click on BNB and get that address, and paste into Kucoin and complete the withdraw in Kucoin. DO NOT get the Smart Chain address.

6. After a few minutes of holding your breath, your BNB will arrive in your Trust Wallet. Once here you need to SWAP it for Smart Chain BNB. Click “SWAP” and the “Swap to Smart Chain.” This part changes it from BEP2 to BEP20. Almost done!

7. Now that your BNB is Smart Chain BNB (BEP20 Network) you can send to your Metamask Wallet. Just head over to your Metamask Wallet and copy the address from there and paste into Trust Wallet. Congrats! You did it!

It seems overly complicated, but once you do it a few times, it becomes much easier. Most swapping between exchanges, and wallets does not need this complicated procedure. This particular issue is created on the Kucoin site. Hopefully this tutorial will keep you crypto safe while it travels through the blockchain. Now you are ready to invest in DRIP.

How to get started with DRIP

  1. Go to the SWAP page, https://drip.community/fountain, and exchange BNB for DRIP. Make sure you get at least 1.12 DRIP and leave 0.05–0.1 BNB in your wallet to cover this, and future, transactions.
  2. Go to the FAUCET page, and enter a Buddy address in the Referral section. Consider adding me as your buddy with my address:
    Buddy: 0xF99220eBC04de3488E4d3BC1b104e83A75bB137a
  3. Deposit at least 1.12 DRIP. Make sure you do not click the MAX button. You want to ensure you have 0.05–0.1 BNB for transaction fees.
  4. These last steps are optional, but I highly recommend them!
    a. Download this spreadsheet and create your own copy in order to edit. It was developed by Kelly Snook, who is a NASA scientist. There is a YouTube video that explains everything as well. It will give guidance on when to hydrate/recompound your DRIP.
    b. For help getting started join the Cryptozoa Telegram group (https://t.me/joinchat/PbTulqLoCmAzZmQx) and tell them that Shawn sent you.

You’re set up on DRIP. Get ready to receive 1% daily!

Here are a few more link to information on the DRIP ecosystem.

DRIP Lightpaper https://www.docdroid.net/0i3RJTu/drip-lightpaper-pdf

DRIP Contract https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333

Buy BR34P: https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xa86d305A36cDB815af991834B46aD3d7FbB38523

NOTE: The amount Deposited is not withdrawable. In exchange you receive 1% of that staked amount on a 24 hr basis for the next 365 days, which can be rehydrated/recompounded, or claimed.

Contract References

New Contract (“v4”): https://bscscan.com/address/0xa38e0b7da56227bd9ba1ccf1ff7d23aba4807158#code

Note that this article should not be counted as financial advice. Please do your own research before investing in anything, including DRIP.