After a two-year delay, the Pi coin’s mainnet launches today, marking a major shift towards a decentralized network from a closed ecosystem. The gate for more than 10 million users is finally open. You can now migrate your mined Pi Coins from the testnet to the mainnet. The launch has created a huge buzz among the crypto community. Users can receive Pi Coins using their mobiles by installing its application. Pi token has been listed on platforms like OKX, which has created excitement surrounding the cryptocurrency. The users are waiting eagerly in the hope of making profits. This is a quick guide that gives you a step-by-step approach to selling Pi coins and exploring online peer-to-peer transactions.
The Pi Network
Launched in 2019, the Pi network is a blockchain that combines a developer environment with a decentralized social network, powered by the Pi coin. Pi is designed to become the world’s most inclusive peer-to-peer ecosystem and aims to turn PI into the world’s most widely used cryptocurrency. The network is operated by a community of “Pioneers” who mine PI coins through an application on their smartphones.
The Pi Coin
The Pi coin is the cryptocurrency of the Pi Network which is a blockchain that allows its users to mine through their mobile app. It was created in 2019 with the aim of making crypto accessible to ordinary people without the need for special hardware and technical skills. Unlike other cryptocurrencies, Pi coin does not require expensive equipment like ASIC to issue it and can be earned by just verifying the user’s presence through his/her mobile phone.
As it is the coin’s launch today the price of the coin is expected to experience high volatility. Traders should be very cautious while trading Pi. Crypto analysts expect the price of Pi to reach $350 per coin by March 2025. Users should complete Know Your Customer (KYC) verification in order to transfer the mined coins to the exchange.
How To Mine Pi Coins?
Now let’s look at the steps to earn Pi coins:
- Download and install the Pi network App from the Google Play Store for Android or Apple App Store for IOS.
- After opening the application tap the lightning bolt icon to start mining Pi coins.
- Build the security circle by adding 3-5 trusted contacts to boost your mining rate.
- Increase your earnings by sharing referral codes with your friends and family.
- Be engaged in the application by participating in chats and polls.
- Heighten your earning potential by understanding the various roles such as The Pioneer, Contributor, and Ambassador.
Users can avail their Pi coins on major exchanges like OKX, Bitget, and BitMart with promotional intensives for greater adoption. Bitget is preparing to airdrop $60,000 worth of Pi, and BitMart is offering $3,000 USDT as part of a giveaway exclusive to those who trade Pi.. Binance has also started voting in their community to decide on the inclusion of Pi coins.
Features Of Pi Coin
Let us learn some of Pi coin’s features:
- Accessibility: mining Pi does not require any expensive hardware. Anyone with a smartphone can mine the tokens on the Pi app.
- Decentralized: The pi network is fully decentralized and its operators are distributed across the world. This ensures that the blockchain is not controlled by a central entity.
- Fairer system: Pi has no organization backing it, which results in fair running.
- Security: Pi uses the modified Stellar Consensus Protocol (SCP), which makes the blockchain highly secure.
- Strong community: One of the most important features Pi coin possesses is its strong community, which is actively engaging with the protocol through its application.
- Eco-friendly: Unlike Bitcoin mining, creating Pi coins is not an energy-intensive process, making it efficient and sustainable to operate.
Selling Pi Coins
With the Pi coin’s launch on the major exchanges, investors will be able to trade their tokens
for cash or buy more Pi to increase their holdings. Here’s how you can sell your Pi coins:
- Choose the exchange and create an account: visit the crypto exchange platform, sign up with a new account, and complete the required verification process to ensure safety.
- Find the trading pair you prefer: Search for the asset you want to convert Pi into. Currently, Pi can be traded in the PI/USDT, PI/EUR, and PI/BTC pairs.
- Place the sell order: after choosing the trading pair, check the prices and enter the amount of coins you want to sell. If you are someone who is trading for the first time you can choose two methods to sell your Pi.
- Limit order: specify the price at which you want to sell your coins for cash, this usually takes some time to complete.
- Market order: sell your Pi at the best market price available at the moment, this is complete almost immediately.
- Complete the trade and transfer it to your account: once the trade transaction has been completed, you will receive the funds in your account. It can be withdrawn from the exchange by locating the “withdrawal” option and following the instructions. Be wary of the fees when withdrawing funds into your bank account.
Conclusion
Now you know what the Pi network is, how to mine Pi coins, and how and where to sell your Pi coins. So, with this newly gained knowledge, you can trade your PI coins for BTC, USD, and EUR, on the OKX, Bitget, and BitMart exchanges. As PI mining is easily accessible for all smartphone users through a mobile application, there is growing demand for the cryptocurrency, which could potentially lead to increased prices.
But, please be careful while you indulge in trading as it is subject to market risks. Always have an insight into the market conditions before making any investment in a PI coin. Happy trading!
