How to Sell Pi Coin in 2024?

how to sell pi coin

This aspect plays a significant role in the continuous growth and development of the network. Admittedly, the Pi Network is in a very unusual and interesting position, as far as – honestly? You can’t buy it, you can’t sell it, but you can “mine” it – however, even that doesn’t reference the usual “mining” process. Lastly, as you might have gathered up to this point in the “How to Buy & Sell Pi Coin”, the coin in question cannot be purchased or sold, just yet. As of today, no exchanges out there – neither CEXs, nor DEXs – list and / or support Pi coin. The listing info that you see is for something the community calls “Pi coin IOUs”.

how to sell pi coin

Traders using the MetaTrader 4 or MetaTrader 5 (MT4/MT5) platforms often seek to understand their account leverage, as it directly impacts their trading strategies and risk management. The more active miners you have in your circle, the more earnings you can make. In any case, it is suggested that you expand your circle organically. No, you cannot sell a Pi coin as of now, as it is not listed on an exchange and is currently in offline development mode. The concept of an Open Network in the context of the Pi Network refers to a significant transition in how its blockchain operates.

Steps to Sell Your Pi Network Coins

This can make it difficult to sell large amounts of Pi coins quickly, as there may not be enough buyers in the market to absorb the selling pressure. While the final option might not be what you want to hear, the reality is that you’d probably be best served to wait for the official launch of the Pi Network open mainnet. It is widely believed that the Pi coin will be listed on cryptocurrency exchange once the mainnet is open. When (if?) that happens, PI will be traded like any other coin or token, meaning that you won’t have to worry about potentially getting scammed or getting a bad deal on your coins. Pi Network coins are a cryptocurrency that has gained popularity in recent years.

Let’s assume that you’ll need BNB coins – they can be bought very easily via the aforementioned method. However, the date for this mainnet launch remains unclear, despite it being in the roadmap for years. The lack of clarity on when Pi coins can be freely traded on exchanges is a major limitation for users looking to sell, creating a risky environment for transactions. Pi Network is a popular cryptocurrency project that allows users to mine Pi coins with their mobile phones. Since its launch in 2019, Pi Network has attracted over 47 million users worldwide with its innovative phone-based mining concept. Mining Pi Network coins is a simple process that can be done by anyone with a smartphone.

Since this could lead to severe financial losses, I must remain secure within its closed mainnet system where only authorized personnel can interact. Till 2024,  you could not sell Pi coins on cryptocurrency exchanges like Binance, Coinbase, Kraken, etc. You could not exchange Pi Coins for Bitcoin, Ethereum, or any other cryptocurrency.

  1. That means that there’s very limited price discovery, and no one really knows how much a single PI coin is worth – it could be 1 cent, $1, or even $100.
  2. 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.
  3. Some crypto exchanges allow users to trade these IOUs, representing a future promise of Pi coins.
  4. As your invited members mine, you can benefit from them as it will increase your earnings by 25% for each active miner.

I believe the Pi Network’s Open Mainnet release plan is marred by deliberate ambiguity. It sets unachievable goals, suggesting a lack of actual intent to proceed with the launch. I see their current model, which primarily generates ad revenue, as a haven for the core team, which raises questions about their true motivation to shift towards the Open Mainnet.

Securing Your Coins

That’s actually not the case – even more so, Pi isn’t even available to be traded via DEXs, either. For those who prefer not to engage in selling, Pi coins can be directly used to purchase goods and services from participating merchants. Some businesses accept Pi as payment for various products and services, expanding its practical utility.

One of the most popular ways to sell your Pi coins is through peer-to-peer transactions. This method allows you to negotiate the price and payment method directly with the buyer. This method can be more convenient, but you may have to pay fees and go through a verification process. Before selling your Pi coins, it’s important to understand the potential risks and challenges involved. Pi Network is still in its early stages of development, and as such, it is not yet available on major cryptocurrency exchanges. However, there are several ways that users can sell their Pi coins, including peer-to-peer transactions and IOU trading on certain exchanges.

To maintain the integrity of the one account per individual rule, users are permitted to mine Pi on only one device. To achieve the status of a verified member eligible to extend invitations, one must actively mine Pi coins for a continuous period of 3 days. Successfully inviting new members boosts your mining rewards, offering an increase of 25% for each active miner you add to the network.

Instead of selling Pi coins directly, another option is using Pi coins to make purchases at merchants accepting Pi payments. This provides an avenue to indirectly sell your Pi coins by exchanging them for goods or services. However, it’s crucial to note that these IOUs are NOT actual Pi coins.

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If they do not have an invitation code, they can request one from a friend who is already a member of the Pi Network. Upon the launch of the Pi to USD conversion functionality, holders will be able to transform their Pi Coins into cash, facilitating withdrawals to their PayPal accounts or other preferred fiat currency wallets. For those looking to utilize their Pi coins in ways other than the conventional selling methods, spending Pi directly on goods and services through participating merchants presents an innovative option.

With the eventual official release, Pi coins will be tradable on various cryptocurrency exchanges. As of the latest update in December 2023, the primary avenue for transactions remains through peer-to-peer exchanges. However, it may be prudent to exercise patience and await the launch of the open mainnet for a more secure and conventional trading environment.

Market Dynamics and Pi Coin’s Valuation

As a bit of a sidenote here, I do also want to point out on thing – there are A LOT of copycat projects and coins with similar names out there. Sometimes, exchange platforms get it wrong, themselves, and link users to unrelated assets. You can buy Ardor with a credit card on Binance and other exchanges like CoinEx, ProBit Global and HTX (Huobi). Using a credit card is a fast and convenient payment method for purchasing cryptocurrencies, but typically comes with higher fees than other ways of buying cryptocurrency with fiat. The Pi Network functions according to the “Stellar Consensus Protocol”; this allows users to obtain benefits for their participation. With crypto mining as easy as clicking on the phone, the Pi network has gained a considerable user base even before going live on an exchange.

Selling Pi Network coins can be a challenging task, but with the right approach and knowledge, it can be done successfully. The first step is to find a reliable and trustworthy platform to sell your coins. This can be done by researching various cryptocurrency exchanges and comparing their fees, security features, and user reviews. Presently, the option to sell Pi coins on established cryptocurrency exchanges like Binance, akin to trading Bitcoin or Ethereum, remains inaccessible. However, this limitation doesn’t leave Pi coin holders without options for selling their coins. Alternative methods include peer-to-peer transactions, direct spending at Pi-accepting merchants, and more.

This is because the project is still in its “enclosed mainnet” stage – the Pi coins should become tradeable as soon as it opens up, whenever that’ll be. If you want to prepare, it’s a good idea to learn how to use top-rated exchanges in advance, such as Binance, Kraken, or KuCoin. Seeing as the market is exhibiting a lot of bullish sentiments these days, that only adds to the excitement and interest in similar projects / assets. People start searching where to buy Pi crypto or how to sell Pi crypto, exchange platforms notice this and create content around it, and you have a lot of buzz being generated, as a result. It’s essentially a huge community of people around the globe, all “mining” Pi coins on their mobile devices (naturally, as with most other projects[1], the network was started by a centralized business entity).

You want to make sure that your coins are safe and secure while they are being sold. Look for a platform that offers strong security measures, such as two-factor authentication and encryption. Additionally, make sure that the platform has a good reputation and has not experienced any major security breaches in the past.