If you wonder how to get the Pi coin, you will not be able to receive it for your portfolio. In the third phase, Pi cryptocurrency miners will have the option to withdraw or swap their coins only after the project converts to a decentralized blockchain in the third phase.
To prevent bogus accounts from accruing money, PI cannot be transferred during the trial phase, according to the project’s website.
When PI moves from the testnet to the mainnet after the blockchain technology is completed, wallet balances are expected to be recognized.
As a result, Pi coin is presently not supported by any cryptocurrency exchange or trading platform. The cost of PI has not yet been set. Nonetheless, according to a Reddit thread, the coin is on Binance’s watchlist.
Pi Network Price In India In 2023
What Is Pi?
Pi is modern digital money designed for everyday use that you can “mine” (or obtain) with your smartphone.
Digital currencies are digital money that is governed and protected by a community rather than a government or institution.
You can now mine (or gain) Pi by assisting in the security of the cryptocurrency and the expansion of Pi’s reliable infrastructure.
Other cryptocurrencies (such as Bitcoin) are difficult to access and use by ordinary people, but Pi provides you with cryptocurrency power.utilise and get, Pi gives you cryptocurrency authority.
The Pi Network is a digital currency initiative that aims to lower the cost of cryptocurrency processing after the concentration of the first batch of currencies, such as Bitcoin, drove them out of reach for the general public.
The Pi Network, founded by a group of Stanford alumni, allows developers to mine currencies while authenticating transactions on a shared ledger via a smartphone app.
The initiative’s initial stage started on March 14, 2019, including free software for mining Pi and number-based marketing.
The platform had over 100,000 active members by June 2019, and when Round 2 was released a year later, there were over 3.5 million. In order to fund the system, adverts began to appear on the program in May 2020. The client market reached 14 million in March 2021, up from 12 million in February.
Like many other digital currencies like Bitcoin, money was designed to operate over the Pi network, but it was designed to be “reduced” regularly to preserve rarity.
A miner’s payout for analyzing the most recent transactions is slashed in half when a certain level is reached.
When Pi reached 100,000 users, its mining value dropped to 1.6 per hour, then 0.4 per hour, then 0.2 when it reached 1 million, and finally 0.2 when it reached 10 million. It will continue to fall until it hits a million customers.
Can You Buy Pi Cryptocurrency?
It should be noted that you cannot purchase Pi cryptocurrency and retain it in your Pi wallet.
The Pi cryptocurrency will not be able to be traded or withdrawn until phase 3, when the Pi network coin has become a completely decentralized blockchain.
During the testing time, transfers will not be permitted. This will help to ensure fake accounts don’t acquire a large number of Pi coins.
When the blockchain technology is completely deployed, wallet balances on the Pi network will be recognized upon transition from the Pi testnet to the mainnet.
As a result, Pi currencies are not accepted by any trading platforms or cryptocurrency exchanges.
Phase 3 Launch
Following the implementation of phase 3, Pi currency holders will have complete control over their public and private wallet keys and will be able to use Pi coins to purchase products and services on the Pi market and exchange them for fiat cash.
Owners of the Pi cryptocurrency cannot move or use their funds unless they have keys.
The Pi browser app works in the same way as a bitcoin wallet, and it is often synchronized with a Facebook account or a phone number.
Like other public blockchains such as Bitcoin, the Pi network will allow external wallets to hold Pi currency and carry out transactions by uploading them to the blockchain. The developers, however, have yet to share the source code.
The Pi network has users from all over the world. They help to build the network by providing numerous services that keep it working.
These users are classified into three groups:
- Pioneers: By simply confirming each day they are not robots and logging in, they keep the network busy.
- Contributors: as part of building a trusted network, they provide a list of pioneers they know personally.
- Ambassadors: Referrals allow them to introduce new users to the Pi network. They create a sense of community.
- Node: A user who combines the first two tasks and operates a Raspberry Pi network node. This group of network users, in addition to executing the other responsibilities, helps to validate and maintain the network’s integrity. Everyone who takes on any of the aforementioned responsibilities can earn new Pi coins for their contributions to the network’s upkeep
People have flocked to the Pi network because its design makes it extremely simple to operate. Within two months of its launch, the network had over 200,000 active users.
At the beginning of February 2021, the network had at least 2.5 million miners mining the cryptocurrency with various equipment, as well as more than 10 million users in total.
Despite this achievement, the Pi network is only in its first of three phases. The Pi crypto will be available on cryptocurrency exchanges after the completion of the third phase.
The Pi cryptocurrency can be traded for other currencies by those who are currently mining. The project is still in beta, and new miners can only be invited.
Pi mining will continue until there are 10 million active pioneers on the network (miners). At this moment, the mining reward will be lowered to zero.
Pi Network Price Prediction 2022-2028
Pi’s price can be predicted in the same manner as Bitcoin’s price can. The reaction to the PI network crypto has been positive. The Pi coin’s value, like that of other new cryptocurrencies, is likely to start low versus the US dollar and climb as it attracts and wins more users.
What, however, have certain platforms claimed regarding network pricing prediction? Let’s get some responses.
Because Pi is still in the Beta phase, predicting the Pi network value is challenging. Miners are optimistic about its future value due to its efficiency and ease of usage in mining.
Despite the fact that it has not yet been listed on exchanges and so has no real value, cryptocurrency exchange Changelly has predicted the Pi Network price for the time being.
According to the exchange, the Pi network value will reach $0.16 by the beginning of 2020. This did not occur, and the current value is $0.00.
This is an excellent opportunity for new miners to join the project and begin mining. So that they have as much cryptocurrency as possible before trading begins.
Changelly also expects that the price will soar to $5 by 2025, with those who already own cryptocurrency profiting considerably.
What Is The Purpose Of The Pi App? Where Can You Find More Pi?
This software assists in the generation of Pi by simply contributing to the Pi group. The more you give, the more Pi you’ll get.
Log in every 24 hours and tap the lightning button symbol to start earning Pi. After you’ve begun collecting, you can raise your hourly rate by hiring trustworthy family and friends to help you find a community.
After three days of generating, you can improve your revenues by building your safety ring, which contributes to the platform’s security infrastructure. Please keep in mind that early users of the chain accumulate at a greater rate than those who follow them.
Pi is now priced at $0.007077, with a one-year price estimate of $0.000001. Wallet Investor, on the other hand, anticipated that the PI currency will plummet in the long run.
In March of this year, Wallet Investor anticipated a Pi cryptocurrency price of $0.0132, with a $0.00743 loss. The Website, however, indicates that it is no longer updating its prognosis.
DigitalCoin prepared a comprehensive Pi Price Prediction, among other predictions. On January 24, DigitalCoin forecasted that the coin’s price would rise from 0.01 to $0.015 per US dollar by 2025.
In the long run, the PI price is expected to average $0.024 by 2028.
How long before Pi becomes valuable? Will Pi Be Converted Into “Real” Funds When It Becomes Valuable?
Pi users will be able to convert Pi into “real” money by purchasing goods and services on the Pi platform or trading Pi for cash. Cryptocurrency owners have two options when it comes to changing their assets into “real” cash (or “cashing out”):
1) actively purchasing goods and services with their cryptocurrency; or
2) exchanging their digital currency for cryptocurrencies (- for example, dollars, euros, etc.) via digital currencies.
- Using your Pi to immediately purchase products and services. Pi Network is building a peer-to-peer network in which our users will be able to invest Pi directly in the purchase of goods and services. We hope to begin testing with Pi in-app uploads in Q4 2019.
- On cryptocurrency transactions, you may trade Pi for fiat money.The Pi Core Group has no say in whether or not cryptocurrency exchanges (such as Coinbase, Binance, and Kraken) offer Pi. As a result, in Stage 3 of the program, Pi will be available for exchange (i.e., Mainnet). Markets can then determine whether or not to publicize Pi. However, Pi’s core group is focused on completing the technology plan in order to reach stage 3.
Today’s pi to INR (Indian national currency) Exchange Rate
1 pi = 0.52 INR
1 INR = 1.91 Pi
Pi Network’s Final Verdict- Pi Network Price In India 2023
Pi currency (PI) has yet to be listed on Binance, which would be big if it did. Create the community first, then build it before developing the actual cryptocurrency.
Understanding the use cases will lead to increased demand in the future.
According to crypto market Changelly, the bull case could see the coin’s price debut at $0.16 and reach $1 a year later, depending on the number of cryptocurrency users and exchanges that adopt PI.
In the long run, the price might grow to $5 in five years.