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Here’s How I Would Put $500 to Work in DeFi, and How Much It Would Earn

Here’s How I Would Put $500 to Work in DeFi, and How Much It Would Earn

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Now I’m going to do something that I don’t typically do in my articles, I’m going to spell out exactly what $500 put into DRIP today will look like in 1 year.

I’ll be using the price on the DRIP Swap page for converting BNB to DRIP for this, and the current DRIP price there is: $41.50, with the Current price of BNB at $568, we’re going to convert .88 BNB ($500) to DRIP in the Swap page.

We’ll receive 11.78 DRIP for that — that’s perfect, it will leave us with just over 10 DRIP in our deposits after the deposit tax is taken out.

We’re also going to implement a strategy of hydrating only for the first 30 days.

So you start with 10 DRIP, then at the end of 30 days of Hydrating, you have 13.155 DRIP, and if the price stays at $41.50 (it won’t, it will most likely increase) you will be earning $5.46 per day (before taxes). That will get you about $165/mo — just from putting that initial $500 in.

From there, we’re going to switch to a strategy of alternating claiming and compounding for the rest of 1 year.

Following exactly what I laid out above, hydrating every day for 30 days — then alternating claim/hydrate every other day — on Day 365 you will have 63.803 DRIP in your deposits. Your daily rewards would be: .63 DRIP, or $26.23 if the price is still $41.50.

Since you are alternating Claiming and Hydrating, you would have claimed a dollar value of $1700 (that is after all taxes taken out, and assuming that $41.50 price), and then you’re earning that $26.23 per day on top of that.

After a year, you could switch to claim more often — if you claimed every day for 1 month you would make just under $800 for that month at this point.

In these examples, I used $41.50 for the DRIP price because that’s today’s number on the Swap page. The price won’t be $41.50 — but that’s a good place to keep things reasonable. The DRIP community is calling for $75+ price for DRIP, and I’ve even seen the developer say that he can make a case for a DRIP price over $3,000.

.63 DRIP/day @ $3000 is $1890/day. Not bad for a quick easy $500 start is it?

So there it is — my simple straight forward plan for you to turn $500 into a lot more than $500 within a year.

Want to read a bit more about DRIP before getting started? Here is a better rundown of what DRIP is: How I Could Buy All of My Christmas Presents This Year with Crypto, If I Wanted To!

Now I’m going to do something that I don’t typically do in my articles, I’m going to spell out exactly what $500 put into DRIP today will look like in 1 year.

I’ll be using the price on the DRIP Swap page for converting BNB to DRIP for this, and the current DRIP price there is: $41.50, with the Current price of BNB at $568, we’re going to convert .88 BNB ($500) to DRIP in the Swap page.

We’ll receive 11.78 DRIP for that — that’s perfect, it will leave us with just over 10 DRIP in our deposits after the deposit tax is taken out.

We’re also going to implement a strategy of hydrating only for the first 30 days.

So you start with 10 DRIP, then at the end of 30 days of Hydrating, you have 13.155 DRIP, and if the price stays at $41.50 (it won’t, it will most likely increase) you will be earning $5.46 per day (before taxes). That will get you about $165/mo — just from putting that initial $500 in.

From there, we’re going to switch to a strategy of alternating claiming and compounding for the rest of 1 year.

Following exactly what I laid out above, hydrating every day for 30 days — then alternating claim/hydrate every other day — on Day 365 you will have 63.803 DRIP in your deposits. Your daily rewards would be: .63 DRIP, or $26.23 if the price is still $41.50.

Since you are alternating Claiming and Hydrating, you would have claimed a dollar value of $1700 (that is after all taxes taken out, and assuming that $41.50 price), and then you’re earning that $26.23 per day on top of that.

After a year, you could switch to claim more often — if you claimed every day for 1 month you would make just under $800 for that month at this point.

In these examples, I used $41.50 for the DRIP price because that’s today’s number on the Swap page. The price won’t be $41.50 — but that’s a good place to keep things reasonable. The DRIP community is calling for $75+ price for DRIP, and I’ve even seen the developer say that he can make a case for a DRIP price over $3,000.

.63 DRIP/day @ $3000 is $1890/day. Not bad for a quick easy $500 start is it?

So there it is — my simple straight forward plan for you to turn $500 into a lot more than $500 within a year.

Want to read a bit more about DRIP before getting started? Here is a better rundown of what DRIP is: How I Could Buy All of My Christmas Presents This Year with Crypto, If I Wanted To!