What is Pi coin?
What are Pi Coins? A Beginner’s guide to and mining for free in India! Nicolas Kokkalis and Chengdiao Fan, two Stanford University researchers, founded Pi Network. They began developing it in 2018 to make a digital currency for everyday people. Unlike Bitcoin, Pi Coin doesn’t require energy-intensive mining—it can be mined with a single tap on your phone. However, many people are curious about what is the value of Pi coin in today’s market. Here is a Value of Pi coin
USD: 1 PI =$1.944866
INR: 1 PI = ₹0.18
CAD: 1 PI = CA$ 2.55
GBP: 1 PI = £1.38
JPY: 1 PI = ¥265.43
BRL: 1 PI = R$10.85
EUR: 1 PI = €1.67
*(Values can be changed)
How to Mine Pi coins?
Here are the steps to follow;
Step 1: Download the Pi Network app from the Play Store
Step 2: Sign Up with the required information
Step 3: There you will see my button, click on it, and start mining.
Step 4: By referral to your friends and family, you can earn more
Before Selling Pi Coins: Key Requirements You Must Meet!
Before selling Pi coins, you must complete all the essential Requirements given by Pi Network.
Requirement 1: Verify your identity through the Pi Network’s KYC process
Requirement 2: Migrate your Pi coins to the Mainnet
Requirement 3: Set up and secure your Pi wallet
Requirement 4: Ensure they have access to your wallet’s private keys
After completing the following Requirements now you can now sell your coins
Step-by-Step Guide to Selling Pi Coins Safely
Step 1: Choose the platform where Pi coin is listed. Compare all the Factors such as Security, Fees, etc.
Step 2: Create and verify your Exchange from the platform you choose. Documents may be required ( Your personal information, Government-issued IDs, Address proof, etc).
Step 3: Transfer your coins to the Exchange by logging into your Pi wallet, then copy your Exchange Deposit Address, then initiate the transfer.
Step 4: Place Your Sell order by navigating to the Pi trading pair, then enter the amount of coins you want to sell, and then confirm your transaction.
Pros and Cons of Pi coins
Pros
1. Pi coins are free to mine. You don’t have to buy any expensive equipment or spend any money. Just install the Pi network App and start mining.
2 .Pi coins are easy to use; you just need a mobile phone, unlike Bitcoin, which needs powerful computers
3. A large community of people showing interest and using the Pi network to Mine Pi coins.
Cons
1. Pi coins have an Uncertain future, since it’s in the developing stage, so future value is unpredictable.
2. Privacy concern, as the Pi app collects users’ information, so some people are worried about how that information is used.
Pi coin vs Bitcoin: What’s the difference
1. Mining process: Bitcoin requires powerful and complex computers that solve complex math problems for verification, and Pi coins do not require any computer or electricity, just one tap, and you start mining.
2. Accessibility: Bitcoin is hard to mine because it requires technical knowledge and an expensive computer, while Pi coins are more user-friendly; anyone with having smart smartphone can mine them
3. Future potential: The Future of Bitcoin is already secure as it is widely used, whereas Pi coin is in the developing stage, so its future is not secure yet.
Conclusion
Pi Coin is an innovative cryptocurrency that aims to make digital money accessible to everyone. Pi Coin can be mined for free using just a smartphone. Currently Biggest advantage of PI coin is that its risk free as mining of coins fully free. However as it is still in developing stage so its future can be uncertain. So you can try it as you are at no risk. Are you mining Pi Coin? What do you think about its future? Share your thought with Insights Journals
