Simple, inexpensive ways to transfer funds for Drip
PSA: Never give your wallet seed phrase or private keys to anyone, especially if they are offering to help you work out a technical issue and just need you to enter your seed phrase into a web site to connect your wallet. That is a scam. Once you give them your seed phrase, they can get access to any funds in your wallet and drain everything. You should keep your seed phrase in a safe place and only use it for yourself to restore your wallet to a new computer or new browser.
What is Drip?
The DRIP Network’s Faucet is a low-risk, high reward contract that operates similarly to a high yield certificate of deposit by paying out 1% daily return on investment up to 365%. Players can compound and extend their earnings through deposits, hydrating (compounding) rewards as well as through team based referrals.
In order to buy Drip, you need to have a compatible wallet with BNB available, the native token of the Binance Smart Chain. Funding your wallet with BNB can be a bit confusing and daunting if you aren’t already familiar with the process.
So, how do you get money from your bank, or maybe other cryptocurrencies you have on an exchange, convert it to BNB, and send it to your wallet?
I have tried and used several pathways, some of which included multiple steps and apps, each step an opportunity to make a mistake and lose my funds.
Over time, I have found a couple of options that I find to be very simple and require the least amount of steps and fees.
I live in Texas, so I can’t use Binance.US, which is a favorite of some. I’ll only be discussing options that work for me. Your experience may vary depending on your location.
I’ll focus on my favorites:
Crypto.com, and Changelly.
Crypto.com
This is a cryptocurrency exchange, as well as offering a debit card you can load with funds from your available tokens. I can buy tokens directly from my bank account or bank debit/credit card.
One of the best things about it is that I can buy BNB directly using my fiat account. Once I have BNB, I can send it directly to my MetaMask wallet, including converting it to the Binance Smart Chain version of BNB (BSC or BEP-20)
Buy -> Send as BNB-BSC. Done.
You can open a Crypto.com account, which will require you to upload your ID for KYC (Know Your Customer). Then you can link your bank account and after a verification step that may take a day or two, you can start purchasing BNB.
You can also reverse the process. Sell your Drip from the Swap page to get BNB in your wallet. Send your BNB to your Crypto.com BNB/BSC address. Then you can sell it as fiat currency, then withdraw it (cash out) to your connected bank account. The only caveat is that they only offer a standard bank transfer (ACH) which can take a couple of days to process. No instant option.
NOTE: Always make sure when sending BNB to/from Crypto.com, that you are using the BSC (BEP-20) option, as that is the format required for MetaMask and Drip.
Changelly
Changelly allows you to send a cryptocurrency, such as BTC, and have it automatically converted to another token, such as BNB-Bep20, and sent to the final destination, your MetaMask wallet.
Using the phone app or changelly.com, you select your input token, then your output token. It will provide you with an address to send your input token. Then it will handle the conversion and sending to your destination address.
The fees are .25% of the amount, as well as a flat network fee, depending on the token type being converted. I have found that converting BTC, ADA, or other tokens have very low fees. Example:
I want to transfer BTC to my MetaMask wallet and receive about 1BNB. Again, take note: always make sure you select BNBBSC to get the Bep-20 version of BNB.
In this case, the fees are based in BNB as that is the target token. At the moment, BNB is about $445, so the fees are:
Exchange fee: 0.0025168 bnb * 445 = $1.119
Network fee: 0.000525 bnb * 445 = $0.233
Total fees: $1.35
That’s pretty good. Interestingly, a couple of weeks ago when I looked, the fees were showing higher, so it seems to have improved.
This is a good option if you’re using Coinbase or trying to convert some existing tokens you have to use for Drip. Again, you can also do this in reverse. Sell Drip for BNB, then use changelly to convert it from BNBBSC to a token you can use in Coinbase.
When converting from BNB, the fees tend to be higher. If you want to convert to USDC, the exchange fee for that same 1 BNB is only $1.10, but the Network fee, due to ETH gas costs, is $36.
You can get much lower fees if you convert your BNB to something other than an ERC-20 (Ethereum) token. ADA or XLM, for example, have much lower fees. That same 1BNB converted to XLM (Stellar) would only cost $2.11 total to convert. You still may have sell fees on Coinbase, so check the cash out fees for different token types.
So, there you go…a couple of quick, simple, and inexpensive ways to transfter funds back and forth for Drip. I’m sure there are others that may work better for you.
Ok, back to Drip.
How to Start
- Create a MetaMask wallet and add the Binance Smart Chain network.
- Send some BNB BEP20 to it.
- Google or ask me at https://t.me/rpearce63
- Go to https://drip.community/fountain and exchange BNB for DRIP.
- Click on the Faucet link and enter a Buddy address in the Referral section. Consider adding me as your buddy: 0xB066550524E791c41672178975febb4E7038a3f8
- Deposit at least 1.12 DRIP (The .12 covers the deposit tax. Ensure you have enough BNB to pay for the gas fees. Leaving about .1 bnb will last a long time.)
You’re setup on DRIP. Get ready to receive 1% daily!
- Join our Telegram group. Everyone is very helpful and will do their best to answer all your questions. We each succeed when we all succeed.
- Cryptozoa Telegram — https://t.me/joinchat/PbTulqLoCmAzZmQx
- DRIP Wiki: https://dripcommunity.wiki/
- DRIP CONTRACT LINK — https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333
- Buy bR34P: https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xa86d305a36cdb815af991834b46ad3d7fbb38523
- The Manor Farm: https://themanor.farm
BR34P is very important for receiving referral rewards from people that join your team. See the Lightpaper for details.
NOTE: The amount compounded goes into your Deposits, 90% which are locked, and not withdrawable. The remaining 10% goes to the Tax Vault. In exchange you receive 1% of that staked amount which is claimable on a 24 hr basis.
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.
