Have you heard of Bitcoin mining? Mining is a process where Bitcoin and other existing cryptocurrencies generate new coins and validate new transactions. The process requires a wide, decentralized network of computers to verify and secure blockchains. In the realm of mining, you might have heard of the Pi Network. The Pi network has been one of the most talked-about projects in the Bitcoin ecosystem since its inception.
The network differs from others in that it seeks to improve accessibility and mining that is easy to use. It is an innovative mobile mining platform that is designed to disrupt the cryptosphere. You cannot simply access the Pi Network, it is essential to ensure the genuineness of users on the Pi Network by securing your account via KYC verification.
In this guide, we will discuss the steps needed to complete the Pi Network KYC verification process in 10 minutes.
What is Pi Network?
Pi Network is the first smartphone-based crypto project based on the Pi coins, launched in 2019. A team of Stanford University graduates developed it to make cryptocurrency more accessible to the public. In the case of traditional cryptocurrencies like Bitcoin, require powerful computers and a massive amount of energy to mine coins. On the other hand, Pi can be mined within a few minutes.
The Pi coin is the native cryptocurrency of the Pi Network, which can be easily mined in the app. Even though the project is still in its infancy, many individuals have bought it without even considering its future.
How to Complete Pi Network KYC in 10 Minutes?
Pi Network made the cryptocurrency accessible to the public. While many users are familiar with these networks some are still facing issues while completing the KYC (Know Your Customer) process. To successfully complete the KYC process we have provided a step-by-step guide below.
Eligibility Criteria for Applying the Pi Network KYC
Prior to beginning the KYC application, make sure you fulfill the following prerequisites:
- You have to be at least 18 years old.
- You should have an original copy of any of your government-issued IDs. It can be a passport, Driving License, or National ID.
- Make sure your face is completely visible and recognizable and matches the ID.
- You should have mined Pi coins for a minimum of 30 days.
Eligibility criteria may change by the country you live.
Step-by-step Guide to Complete the KYC Verification Process
- The first and foremost step is to download the Pi browser. You have the option of using the Apple App Store or the Google Play Store.
- After downloading the program, open it and use the side menu to find the Mainnet section.
- Visit the Mainnet checklist tab and finish all of the actions there, up until the “Submit Your Kyc Application” task.
- The KYC application page will unlock after you have finished all the prerequisite steps. If not, you can manually access the Pi browser app’s “kyc.pi” section.
- Once you enter the KYC application section, in the first field, you have to select the country you live from the drop-down menu.
- Now simply choose the type of ID that you want to use for the verification purpose.
- Comprehend the ID instructions listed on the slides, and then proceed to the next.
- The upcoming step is to take your ID photos. To do that, Click on the ‘Add front photo’ button and take a clear image of the front side of your ID. Sometimes you have to capture and add the back side of your ID.
- Once you successfully upload the images of your ID document, now you have to fill out a form. You have to enter the following information:
- First name
- Middle name (optional)
- Last name
- Gender
- Date of Birth
- Document ID number
- The expiry date of the ID
- Country of Residence
- After submitting all the required information, click on the ‘I’m Ready’ button for a liveness check. In this step, you have to make sure your face is absolutely visible to the camera.
Post-Application Process
- After finishing your KYC verification process, you should know that it may take time. KYC approval can take from a few minutes to many months, depending on the accuracy of your attributes and the availability of validators in your jurisdiction.
- You can check the status of your KYC through your Pi Network mobile app profile. If there is a green checkmark visible on the screen, it indicates verification is completed. Alternatively, if it shows a loading animation, indicating that your application is still pending.
- The mainnet checklist field will also allow you to check the status of your KYC application.
- Once your application has been submitted, previously verified Pi users will review your application to check the facts. Each application is verified by at least two KYC-verified users residing in your country.
- The KYC verification process costs 1 Pi coin that will be given to the validators as a reward.
Also Read: Today’s Best Altcoins: Performance Insights!
Conclusion
Ensuring the safety of your Pi Network via completing KYC verification is crucial for unlocking the full potential of your Pi. KYC ensures user authenticity and includes stringent criteria, such as being 18 years old, having a government-issued ID, and a clear visible face to check the liveness. Follow the above steps to complete the Pi Network KYC verification today.