Pi drew the world’s attention by offering its community members a revolutionary approach to mining Pi coins. Their innovative mining approach and strong referral system successfully built a network of 47 million people. Acquiring Pi coins is easy, but the question that arises is how to sell Pi coins in exchange for value. We will answer the same in the present article.
The digital cryptocurrency project Pi Network was introduced in 2019 with the objective of making crypto mining available and accessible for everyone. It was founded by Stanford alumni Chengdiao Fan and Nicolas Kokkalis with the goal of bringing a crypto coin that is sustainable, inclusive, and decentralized.
The Pi Network functions according to the “Stellar Consensus Protocol”; this allows users to obtain benefits for their participation. It is currently in the second testing phase. What sets the Pi Network apart from other cryptocurrency initiatives is that anyone can sign up into the network and mine coins in it in an eco-friendly way on their mobiles for free, without the need for high tech and high power consuming devices.
The main cryptocurrency of the Pi Network is its free coin, Pi coin, whose maximum supply is currently capped at 100 billion. Furthermore, the core team of Pi holds 25% of the total number of coins. The Pi coins aren’t available for trading on any cryptocurrency exchange, which is why users can grab them just by mining.
There is no definite process for trading or selling Pi coins. The secure gateway has yet to open, and the launch of the Pi Network mainnet is pending. This is the reason why you don’t find Pi coins on major crypto exchange platforms for trading. Let’s explore the methods that can be adopted to sell Pi coins.
The P2P transaction of Pi coins is possible, where individuals will exchange coins for an agreed amount, without the involvement of any bank or exchanges. You can sell Pi coins through P2P via both online or offline modes.
The buyer and the seller of Pi can connect through any P2P platform. This process involves no safety or transaction validation, which makes it a less authentic method. The market is flooded with reviews and testimonials of fraudulent transactions associated with Pi through P2P online.
In case of P2P in the offline mode, Pi can be transferred in exchange of physical cash. Although we can’t run away from the fact that personally meeting a person is less convenient than an online transaction. But in case a user wants a secure transaction then offline is a wise option.
Pi coins are still not listed on popular crypto exchange platforms. However, one can always trade IOUs (Interest-Bearing Obligations) for other fiat currency or cryptocurrencies. IOUs are unofficial agreements accepting debt which can be traded either through the Pi network or through other private agreements with users.
It is important to note that Pi coin IOUs are not actual Pi coins but are beneficial in providing a generalized picture of the Pi coin’s financial value.
Being on the exchange platform ensures reliable trading of cryptocurrency. Although Pi Network open mainnet is still not officially out on the exchange list, it is highly anticipated to launch soon. As soon as that happens, users can trade Pi coins for fiat currency or cryptocurrencies on exchange platforms.
The rising popularity of Pi coins will soon help establish a Pi network on major exchanges, and this will ensure a safe and secure deal with the coins. The latest reports about attracting new developers for Pi coins clearly indicate that the company is strongly committed to launching the mainnet as soon as possible.
Just like buying products and services using fiat currency, Pi can be directly spent on goods and services. The only challenge in this process is to find a platform or merchant who agrees for Pi as a currency in exchange for their product.
With a community of millions of users, individuals can easily mine Pi coins for free right after signing up. However, the Pi ecosystem authenticates the KYC of every user. Here’s a step-by-step guide to help new users on how they can mine Pi cryptocurrency:
After completing the sign-up process successfully, the user gets rewarded with 1 Pi. All users on the Pi Network can be classified into four ranks:
According to the core team of Pi Network, they are planning to launch in 2024. However, they didn’t disclose any specific date for the launch. There are three conditions on which this entire launch is dependent, and the team appeals for the entire community involvement to make it successful.
The team also released a V2 roadmap to finish all the preparation required under the first condition. Along with a target to achieve 15 million KYC-verified pioneers, the team has a vision to build one of the most inclusive P2P ecosystems. Although the team made promising claims about the open market launch, they remain skeptical about many other unfavorable global factors that may act as hindrances.
Pi Coins have shown great trust in their community and vice versa. While the present article gives you an insight into how to sell Pi coins, the blunt truth is that it is not yet ready for sale. Despite the internet being flooded with juicy predictions of values, we need to wait a little longer till it officially trades on open markets. The potential value could be as high as the internet claims or as low as it is; all the answers are hidden in the womb of their official launch on the mainnet.
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