How I’m Making $25,165 a Month from an $1,800 Crypto Investment
During the Summer of 2021, I was on a hunt to find ways to generate passive income. This eventually led me down the road of affiliate marketing via YouTube, Pinterest, etc., but I soon realized that there was nothing passive about it. The constant requirement to create and publish new content to attract viewers was in itself a fulltime job. At the same time, I was also dabbling into higher volatility (riskier) assets in a search of alpha.
I’ve traded options and futures for quite a few years now, but it was my brother’s recent success in penny stocks that put riskier, higher volatility assets on my radar. After a short period of trading penny stocks, where the play was to basically identify companies that had pending binary events that would offer a 50/50 shot to either skyrocket or crash the stock price. Usually however, the binary event was months, if not a year or two in the future, and often would get postponed or pushed out to some other future date. That didn’t fit my timeline for returns.
This was the scenario that led me to crypto currencies. In my mind, they offered the same amount of risk/volatility as penny stocks, but the timeline for seeing returns was much shorter. I applied the same philosophy that I do to my options trades, which was to trade small and trade often (thank you tastytrade). I would invest small amounts into different projects, thereby limiting my notional risk, knowing that it would only take one or two investments to explode in order to achieve the hyperbolic returns I was looking for.
So How Did I Start Generating So Much Money Each Month?
Enter DRIP. This was the first crypto project I invested in. And true to my trading philosophy, I started small with a $365 investment to purchase and stake 17.8 DRIP tokens on August 30, 2021. And then through September 27, 2021, I made 3 subsequent deposits totaling 105.7 DRIP tokens. All in, I deposited 123.5 DRIP, at an average price of $14.54, totaling $1,796.
Through a strategy of simply reinvesting my earnings every day, I’m now at a DRIP balance of 614.314 DRIP, which at the time of this article is worth $82,736. This generates a daily return of $827, which equates to a monthly income stream of $25,165! Not bad for a $1,796 investment!
Over the lifetime of my DRIP account, the price of DRIP has appreciated significantly and accounts for a good portion of my returns. However, even if DRIP had remained at my entry price, I would still be making $2,717 per month, which is great passive income.
So How Does DRIP Work?
When people come to me saying they’re interested in getting started in crypto and want to know where they should put their money, I always say DRIP. Essentially, it operates similar to a CD, where you deposit your funds and receive a 1% daily return on that deposited balance, thereby generating a 365% APR. If you increase your deposits, then you earn 1% on that new balance. It will continue to pay until you’ve reached a maximum of 3.65 time your deposit balance. And every time your deposits increase, your maximum payout also increases to 3.65 times your new balance.
There are basically 3 ways to increase your DRIP balance: 1) Purchase more DRIP and deposit it into your account, 2) Get DRIP airdropped to you by another account, 3) “Hydrate” your daily earnings. Hydrating simply means reinvesting the 1% you’ve earned, thus compounding and improving your 365% APR to a 3,678% APY.
It’s important to note that all accounts have a hard cap of 100,000 DRIP that you can claim during the life of your account. So, once you’ve reached that threshold, your account will no longer generate a 1% return on your deposited balance.
DRIP offers the chance to achieve 6 to 7-figure returns with a small investment. On one hand it could be considered high risk because worst-case scenario, however unlikely, you lose your investment. But that’s true for any investment. You could also consider DRIP a low-risk investment though, because you control the amount you want to risk and can keep your exposure small. For those who strive to actually become a millionaire, this is the easiest and fastest way you could ever achieve that. DRIP has the potential to be truly lifechanging.
How To Get Started With DRIP
1) You’ll need to purchase BNB to exchange for DRIP tokens. If you’re in the US, you can purchase some through crypto.com or Binance.US.
2) If you don’t already have one, create a MetaMask wallet that you will use to connect to the DRIP network.
3) Transfer your BNB to your MetaMask wallet — make sure you’re on the Binance Smart Chain (BEP20) for your network. If you need it, here are instructions to setup the Binance Smart Chain on your MetaMask wallet — https://email@example.com/how-to-withdraw-bnb-on-binance-us-to-metamask-for-bakeryswap-7916807772f7
4) Go to the DRIP SWAP page and connect your MetaMask wallet to exchange your BNB for DRIP tokens. Be sure to leave behind a little BNB to cover gas (0.05–0.1 BNB).
5) Next head to the DRIP Faucet and deposit at least 1.12 DRIP tokens into the Faucet.
You’ll need a Buddy in order to get into DRIP. Consider using my Buddy address in the Referral section: 0x8014D214b75570c77cB9E994f6E8155a95fD2E89
6) After you’ve deposited your DRIP into the Faucet, you’re all set. Just remember to come back daily to hydrate!