DRIP is an emerging cryptocurrency, and it holds a lot of potentials. You can buy DRIP with BNB tokens – BEP-20 tokens – but you need first to buy BNB with bitcoin.
After changing BNB (BEP-2 to BEP-20), you’ll have to purchase DRIP, and then you can deposit it on the drip.community site. When you deposit DRIPs, you can get rewards such as drip airdrop (more DRIPS,) and you can receive more DRIPs if you invite your friends to the drip.community with your buddy referral id. When your invited friends invite their other friends, you get even more DRIPS.
Before taking advantage of everything DRIP can offer you, you need to understand how to purchase DRIP via BNB and deposit DRIP on the drip.community/faucet.
Relation Between Fiat and BNB
You can buy BNB with fiat or trade it with other cryptocurrencies on exchanges such as Binance.US, Binance.com, Bithumb, Kucoin and FTX. To sign up for most of these exchanges, you’ll need to verify KYC (Know Your Customer) terms and register the required documents.
After you’ve created an account on any of the exchanges, you can purchase BNB or another cryptocurrency using your card (either credit or debit card) or with bank transfer and even trade it.
Why You Need DRIP Compatible Wallets
Before converting your BEP-2 to BEP-20, you need to customize a compatible wallet with the DRIP Network Dapp (decentralized application). Three compatible wallets that DRIP works with are:
MetaMask (a browser extension that works with Google Chrome, Firefox, Microsoft Edge and Brave);
WalletConnect (a type of protocol that you can use to connect any mobile wallet to decentralized applications);
Binance Smart Chain Wallet (supports Firefox, Brave and Chrome)
After finding the right wallet, you’ll have to add the BSC (Binance Smart Chain Network) to your wallet. You need to connect your wallet to Binance Smart Chain because the wallets, for example, MetaMask, usually give ERC-20 tokens – Ethereum tokens – and not BNB tokens, and DRIP operates on BSC. So, to exchange BEP-2 with BEP-20 of BNB, you need to add BSC to your wallet before converting BNB BEP-2 to BNB BEP-20.
You can use TrustWallet – a mobile crypto wallet – to swap the BEP-2 with BEP-20 tokens or use the Binance Chain Wallet.
Transfer BNB BEP-20 to Your Compatible Wallet
After you have BNB BEP-20 tokens in hand, you need to send them to your compatible wallet so that you can buy DRIP. The process here is relatively simple; you need to click on ‘Send’ in your wallet (the one containing the BNB tokens) and provide the requested information.
You need to provide the type of token. For example, we’re talking about BNB BEP-20 and then specify the quantity you want to transfer to your DRIP compatible wallet. Finally, you need to add the address of your compatible wallet so that the tokens can be transferred there.
Purchase DRIP
You can use the DRIP Swap Page on the DRIP Fountain to buy DRIP. First of all, connect or add your DRIP compatible wallet, then choose your wallet type from the three options they give (MetaMask, WalletConnect and Binance Chain Wallet).
If there are no problems – if you’ve configured BSC (Binance Smart Chain) for your wallet -, your wallet address will be displayed when you choose the ‘Connect Wallet’ option. Next, you need to enter the number of BNB you wish to spend using the ‘Buy DRIP’ option on the site.
You can’t buy DRIPS lower than 1 DRIP, so you need to enter a sufficient amount. Add a bit more BNB than necessary in the ‘Buy DRIP’ option because you also need to cover the transaction or gas charges for the DRIP purchase. Click buy and wait for the transaction to be done.
Using Faucet to Deposit DRIP
After purchasing, you need to deposit DRIP in the Faucet page on the https://drip.community/faucet page. Your wallet address should automatically appear there but check to make sure it’s there.
First of all, add a buddy there. You’ll have to paste the address of your buddy – whoever invited you to DRIP, or you can use an address from people who offer them to you (You can use my buddy id: 0xD557c26793758F88053D9988C27aD980d6d87289). Click on update, and then you’ll need to approve this. This process requires a bit of BNB tokens – keep extra in your wallet. It’s a good idea to keep $30 or so worth BNB there.
Then you need to enter the number of DRIP tokens you wish to deposit, and the minimum is 1 DRIP. A 10% tax is charged on your deposit, so it’s a good idea to have more tokens in your wallet than you want to deposit. Press the ‘Deposit’ button, and then you have to approve the transaction. After you’ve made the deposit, your DRIP tokens are ready to earn you 1% a day or 365% a year!