Make $400/day with RING Nodes (2600% APY) Is this it LEGIT?

hey friends andy here how you doing good to see you in this video i'm going to talk about a very controversial crypto project that just launched last month with this project i'm currently earning 400 per day what could go wrong the project i'm talking about is called ring financial where you access the world of d5 through a multi-chain yield processing node at least that's what the website says in this video i'm going to dive into exactly what they're doing what the project is what the risks are there's a lot and if i'm invested uh what you should consider before you invest all the ins and outs that i can think of about ring but first before we dive into it can you do me a favor and can you ring your mouse button down over there to the like button and smash it for me it helps out my channel a ton helps me out i appreciate it you're a good person for doing it and while you're down there if you want 50 free dollars worth of bitcoin then check out the link to celsius when you transfer some money over to celsius you get 50 worth of bitcoin for free it's a great crypto interest account okay on to this video about ring so here i am on the ring website ring dot financial and this is a very fancy cool looking website all about defy now when i first found this project the website was not fancy it was very shady looking so they have upgraded the website quite a bit but again like i said at the beginning of the video it is access the world of d5 through a multi-chain yield processing node look at that fancy node with the ring on it spinning around uh so the big tag line here is you can earn lifetime rewards of two thousand six hundred percent apy which is wild but this is d5 we're talking about so it's not actually the most wild apy out there there are plenty that are much higher including ones i want to do a video on like wonderland with 87 000 apy what yeah you heard me right so ring you run a ring node which requires 10 ring if you're familiar with strong nodes then this scheme is very familiar essentially they want to create a yield generating protocol ring aims to combine the returns from 30 plus d5 protocols carefully selected by our team and redistribute the yield to you hence your risk is minimized and the fees are erased so essentially what you do is you buy 10 ring you open the app you spend your 10 ring you send them the 10 ring so you're out all your money and then you get a ring node and that ring node pays you 0.556 ring every single day so if i hop on here to good old coin gecko you can see the price of ring ring financial is 236.94 and if i take the .556 ring that is rewarded to me with one node per day i get 131.73 so some quick maths 10 times 236 is 2 360. we divide that by 1 3 1 equals 18. so essentially if all things stay the same which they never do in crypto you will buy this node and then break even on your initial investment with this note in 18 days after day 18 if you cash everything out and the ring is the same or worth more then you are at break even which means your initial investment has been earned back and everything else after that point is just profit so if you're like me that's a very tempting offer 18 days break even and then profiting 131 dollars every single day and to further entice you they're now introducing uh new ring node types so the normal ring nodes that cost 10 ring tokens are called gold ring nodes but now for 5 ring you can get a silver node which instead of 0.556 it gives you 0.246 ring per day or an estimated apy of 2300 or you can get a bronze ring node which you can create with one ring token only which will yield 0.042 ring per day or an apy of 2 000 so i think that is pretty dang cool that they are making it more accessible to more people however does all this sound too good to be true is it too good to be true well if you hop into their discord you can read their announcements and see that they actually had a exploit a hack happened to them a week or two ago essentially what happened was there's this exploit people got access to a whole bunch of the rewards they just dumped them to the market the price tanked they nearly drained the liquidity pool the good news is they say they have patched this flaw that the hacker used they've revamped the smart contract security and they've relaunched everything and they're back on track and to be fair the price has recovered they are giving out rewards you can actually cash them out but all the rewards that happen from the hack and until they fixed it are gone you don't get them a few other things going for this project is they do have a nice site uh they have developed both an ios and a newly announced android app they are being pretty transparent about everything that's happening they're communicating a lot on the in the discord and on twitter however the team is anonymous there was a hack it is a very high apy yield a very quick break even so it has a lot of elements that seem like it could be a scam could be too good to be true could be one big like rug pool so before you think wow andy this is amazing i'm going to jump into this let me just caution you and say that i think this is an extremely risky use of your money if i was going to give it a rating of some number of rugs out of five total rugs i would give this a four rugs out of five rugs on the risky scale so i would suggest you only put money into this if you're okay with losing it if you're okay with giving money to somebody else then they might run off with it if you're not okay with that then do not put money into this so why am i telling you all this and why am i making a video and giving this project publicity if i really think it's that risky well lots of things in crypto are risky and i think sometimes you can take calculated risks and even if this was a scam sometimes i think you can get in early enough to take advantage of it and to make some money off of it before it all collapses this might either be a totally legit project that has legs and goes into the future or it might end next week i cannot tell you the future what i can tell you is i have put money into this i have three ring nodes i will show you those right now so if you are on the home page you click on the app once you click on the app you'll see this screen right here which is their node dashboard and you connect your metamask it is on the binance chain hit connect wallet and there are my three nodes i did not name them this they came with these names when you create them you can actually name them yourselves but after the whole exploit they reset everything and they just gave them some names so i've got roy ramsey and ryu rue i don't know anyways as you can see these are all gold tier which means i spent 10 ring per node and right now they have accrued almost 0.8 ring each since this period has started and at the exact moment i have 2.38 ring in my rewards and what you can do is you can claim these rewards at any point there's no set schedule so you can hit claim claim all and then claim and it will open up my metamask wallet and if i have enough to pay the gas fee i can convert this to b and b or b usd or whatever i want within that chain like i said they just introduced new tiers so if you hit create a node you will now see bronze silver and gold again bronze you spend one ring silver you spend five and gold you spend ten and what happens is you're literally spending these ring you do not get these back so you have to break even you have to have a return on your profit which is why i'm saying this is one ultra risky but two do not throw money into this that you can't get back because you really have a chance of not getting it back and when you put that ring into the system and you spend it 20 of that goes to future use 10 goes to the ring bnb pool for rewards and 70 goes into the node rewards pool and a lot like strong when i see the 70 into node rewards pool or in strong's case 60 a bit of a red flag goes off for me knowing that to sustain this payout they have to have new people coming online to put their ring into the pool to pay out all the rest of us but i think problems are solvable so they could certainly solve that problem by earning yields elsewhere and paying into the pool and paying you i don't know what's going to happen so to recap i do have three nodes my plan is to let these three nodes break even get my money back and then let them ride and just see how much they make and of course i could totally not even get to the breakeven point it could fail tomorrow and i'm just out the money my average buy-in price was right around two hundred dollars per ring so this is about six thousand dollars worth of investment and right now sitting in my wallet is two point three eight ring which is five hundred and sixty-five dollars so 6 000 minus 565 means i've got to make back 5 435 before i break even on this project so this all begs the question should you follow in my footsteps should you put money into this project well let me just say one i can't give you financial advice i'm not a professional who can do that i'm just a guy on the internet doing experiments with my money with crypto and just seeing what's out there but if i were in the position where spending two thousand dollars on a node or something was a lot of money for me then i would absolutely not do this if i was putting that money in and i needed to make that money back otherwise i couldn't pay my bills and i absolutely would not do this i would only do this if i was in my current position which is i have most of my money in other crypto investments that i find to be much more safe and i have a lot more conviction about and with a very teeny portion of my money i can throw into wild stuff like this and maybe i'll lose that money but there is some upside to it some potential upside at least and if i make my money back it makes a profit well then it was a fun experiment but again this is a calculated gamble at this point i'm unconvinced on the future of this project and honestly one of the main reasons i put money in was just to make this video to make some content for you so i can't answer the question of should you invest but i can certainly show you the opportunity and you can assess for yourself if the high risk nature of this is worth it or not if you are on the fence i would encourage you to hop into their discord it is very active there's lots of information being thrown around lots of uh back and forth with the team and with people in there so definitely read through that and then also hop on their twitter they're very active on twitter keeping people updated they have a lot of followers so my questions to you are one have you heard this project what do you think about it have you invested money would you invest money do you think i'm nuts for putting money into this i think i'm nuts for putting money into this let me know all the above down in the comments i'm all about finding new things in crypto to have fun with and try out i'm all about passive income in crypto and maybe this turns into a future passive income win i don't know but if you want to see what is currently working for me with crypto passive income then watch this video right here and watch this video if you're curious about what's in my crypto portfolio in this video i reveal my entire crypto portfolio otherwise that's it for me right now i will see you in the next video goodbye

Channel: Your Friend Andy

Views: 9,669

Keywords: ring financial, ring financial crypto, ring financial crypto scam, ring financial crypto node, ring financial crypto review, ring node rewards, ring node, ring nodes scam, what are ring nodes, ring finance crypto, ring finance node, ring financial hacked, crypto passive income nodes, crypto passive income, crypto passive income 2021, crypto nodes, crypto nodes that pay, crypto nodes that pay strong, strong nodes, passive crypto investment, ring cryptocurrency, ring nodes

Id: 8GSR6SmYR4w

Length: 11min 17sec (677 seconds)

Published: Wed Dec 15 2021