wALLETS

[Sisserou]

What is the difference in the Drip BTC and High Yield wallets? Should someone use both? Is it beneficial to use both, if so why?

[mistaPhi]

Hi Sisserou,

Please see answers to your questions below:

What is the difference in the Drip BTC and High Yield wallets?

Each site is a white labeled copy of our wallet interface. In regards to features & functionality, there is no difference.

Should someone use both? Is it beneficial to use both, if so why?

Yes, I would recommend using any or all of the sites available, and there are currently 3 in operation: High Yield BTC, Drip2BTC, and Sovereign BitForge.

Why? The quick answer is that users can use multiple wallets to speed up their daily conversion rates, which results in higher overall APYs. I dropped a video on this a couple months ago, so feel free to take a look:




This is why I encourage all users to understand how the wallets work and to be aware of all the available features. The more you understand, the easier it'll be to devise strategies for faster returns.

Now here's a little information that you should be aware of, if you're not already aware:

1) An email address used to register for a wallet can only be used once per website. The same email address can be used to register on each of the sites, but can only be used once per site.

2) Each user/household is permitted to have up to 10 wallets per website, so anyone can currently have up to 30 wallets without incurring any penalties (up to 10 on High Yield BTC, 10 on Drip2BTC, and 10 on Sovereign BitForge). If a user creates more than 10 wallets on a single site, the credit conversions for all of their wallets will decrease to the degree of the number of wallets exceeding the 10 that are permitted. This mechanism was implemented to prevent manipulation by whales that would attempt to exploit the ecosystem through a multi-wallet strategy.

So while the wallets were designed to be whale proof, there are whale tactics that can be used to speed up everyone's conversions if these techniques are used. There are just limits that a single individual or household are permitted when using such techniques, yet these techniques are available to everyone. Most users just aren't aware of them.

But like I always say, the more you understand, the better you'll be at devising strategies to maximize the benefits of these wallets.

Hope this bit of info helps and feel free to inquire if you have more questions :)