I was monitoring my Blockfolio the other day when I came across an interesting project called Dropil. By the way, Blockfolio means (blockchain portfolio). Dropil caught my eye because, in the midst of a bear market, Dropil was doing rather fine.
Initially, I thought Dropil was a Blockchain project related to clean water. However, upon some digging and Youtube videos, I realized what potential Dropil holds especially in a bear Ethereum market.
How Does Dropil Work?
In simple terms, Dropil uses some really awesome bots to earn some sweet cryptocurrency. First up is Arthur which is a bot that compiles all the best arbitrage opportunities for you to make a profit. Arbitrage basically gets you to buy a particular cryptocurrency from one exchange and sells it at another for a profit.
As cool as that is, I find that it takes some effort on my end to accomplish it. It’s not that Arthur is bad, its just my schedule. As such, I would prefer the second bot on Dropil which is Dex.
Dex works as a trading bot. In order to use Dex, you would first have to buy up at least $50 worth of Drops from any of the exchanges that trades it. This includes IDAX, Tidex, Idex and fatbtc. After that, you can deposit it into your account on Dropil and the bot would trade it for you.
Meet Dex (Image source)
Results Thus Far…
The results thus far has been great. Dex has three modes of trading, ranging from safe, moderate to aggressive. Personally, I prefer aggressive since the Dropil team has been making Dex into one mean trader, I thought I might as well give it a shot at how Dex performed at its most aggressive setting. You know what they say, go big or go home =)
Dex indeed did not disappoint at all. I was able to get about 9% returns every month, which is not bad really. with my $50 investment, I was able to get back about 5$ a month, which is not all bad considering that it is only $50. Imagine if this was scaled and I have ten times the amount I have now in there. I would be making a lot more.
The returns are paid in Drops and not other cryptocurrencies. Personally, I am fine with that seeing that I could just easily trade it for something else later. Furthermore, you will be required to ‘stake’ or ‘lock’ your tokens in for Dex to trade for 15 days. You could, however, take out the funds whenever you want. But, I would just leave it to run unless you absolutely need the cash.
Why I am HODLing
One simple reason, free bots that work. There is a saying from where I am from and do try to say the following statement with a Chinese slang:
Good things no cheap, cheap things no good.
As funny and as true that statement may be, this does not apply to Dropil. Even in this current bear market, Dropil is still doing pretty well because of its utility. As far as I know, there is no other cryptocurrency like Dropil and I believe that once more people find out about this, they would happily come aboard. I am personally using Dex for two periods (about 30 days) thus far and I am more than pleased. Attached is a picture of my dashboard.
Not too shabby eh? Well, if you are keen to use your eth at the moment and grow it through Dropil, can I request that you use my referral code? You will be doing me a solid and if you do, I really appreciate it.
My referral code to Dropil
Many of the findings here are researched but are based on my own opinion. I welcome any debate and discussion but I am no financial adviser. As such, always do your own due diligence before selling your kidney to invest in anything.