What is pie coin ???

Pi coin is a modern currency which can be easily mined even from your smartphone. Pi coin, or PI, is the primary cryptocurrency which operates on the Pi network. This network enables the users to mine the Pi coin directly from their smartphones and thus eliminating the need for expensive hardware and graphic processing units (GPUs).

Just like any other digital currency, the Pi coin is also managed and regulated by a social community rather than any government. Presently, the network is in the second phase of testing and is expected to be fully launched and that might take place in phase 3. 

The Pi network is different from cryptocurrencies as it solely works on a mechanism known as “stellar consensus protocol”, which permits users to obtain advantages on their contribution to the network. 

Pie Network Price ??

If we calculate the real value of Pi coin, then it is practically of no worth, and thus you will not find any historical data of its performance as the coin has not yet been officially launched on any of the crypto platforms. 

As of May 2, 2024, the price of Pi is $41.97 per (PI/USD) i.e. about INR 3,414 with a current market capitalization of $0 and the circulating supply is also the same zero, as the Pi network has not yet revealed the number of coins in circulation and so the maximum supply is unspecified. 

As of now, the Pi network allows its users to mine crypto with their much accessible block chain technology and robust incentive structure. However, till now the miners are compensated through Pi coin which has no real value.

According to the Pi Network website, the user will be able to withdraw or exchange Pi coin with other currencies in the third phase of its roadmap when the main net launches, however, till now there is no formal launch date has been announced. 

The company has specifically mentioned that  “Pi is currently in the enclosed network and is not approved by Pi Network for listing on any exchange or for trading, and Pi Network was not involved with any of these purported postings or listings”. 

What is the Future of Pi Coins?

The Pi crypto coin has gained popularity due to its ease of access and affordability. However, as of now, they are not listed on any cryptocurrency exchange . This makes it difficult to ascertain its value. Individuals can mine these coins and store them on the app itself. Additionally, one can also use these coins for buying goods available on the Pi marketplace. 

One can assess its future value by studying the current trends; however, it is subject to speculation. Investors who have a high-risk appetite and are looking to invest in newer forms of cryptocurrencies can consider Pi coin mining. The early movers may earn high returns in case the price of Pi coins move upward in future.

Pi Coin value forecast for 2021-2028

The Pi cryptocurrency price, like many virtual currencies on debt, is anticipated to begin law versus the US dollar and climb as its popularity develops.

At the time of posting, Digitalcoinprice.com Pi Network cost prediction 2021-2025 predicted that the currency’s value would grow from an average of 0.0107 over the US dollar in 2021 to $0.0127 in 2022, and $0.0212 by 2025. It is anticipated that the PI cost will reach $0.0319 by 2028.

Although, on March 19, the portal removed all of the data on its pricing projections.

Meanwhile, the algorithm-based projection site Wallet Trader predicts a Pi Coin value of $0.0132, with a loss of $0.00743. As per cryptocurrency exchanges Cholestasis, the bullish scenario may see the cost of Pi hit $1 if it releases by the close of 2021, based on the number of cryptocurrency traders and exchanges that accept Pi.  estimates that the cost will climb to $5 by 2025 in the long run.

How to Buy Pi Coins in India?

Despite India’s very tough stance on cryptocurrencies, you may still obtain Pi coins, however, you will be able to exchange it only when phase 3 of Pi Network gets launched, which is expected to be anytime soon.

In India, to mint or earn a Pi coin, the users are supposed to get its mobile application either from the iOS app store or Android-based play store and mine it via smartphones easily. However, after buying the Pi coins, you can also easily keep them safe in your digital wallet. Users can also download the Pi coin wallet app that monitors the Pi-based transactions.

The Indian user can also use their regular money or fiat currencies such as INR to buy Pi Coins, which can be stored in your wallet.

The users can also visit the Pi Network website and earn Pi coins. Pi networks also allow users to send money to other users with their PI wallet username at a much quicker speed.

Users in India must know that Pi Network currently recommends its users not to connect with any third-party aggregators or crypto exchanges as this could result in damage or substantial loss to Pi users. The Pi Network has also requested to remove the exchange listings as it is important to reiterate that the Pi transaction through an exchange is completely banned during the enclosed magnet period.

How Does Pi Network Work?

The Pi Network works as follows:

1.  Mining: Nothing like other crypto currencies such as Bitcoin, which use computationally costly Proof of Work algorithms, Pi Network employs a innovative agreement technique known as “Proof of Stake” . Users of the Pi Network app on their mobile devices can mine Pi coins by pushing a button once every 24 hours to prove their participation in the network. This method is lightweight and energy-efficient, allowing mining to take place without exhausting the device’s battery or causing performance concerns. Pi Network features a recommendation system as well. Both the user and the friend will receive a bonus if they refer a friend to Pi Network.

2. Security and trust: The Pi Network uses a tiered security protocol to maintain the network’s integrity. To prevent fraudulent actions, users must authenticate their identity through social media accounts and go through a KYC (Know Your Customer) process.

3. Circulation and value: During the testing and development phase, the Pi Network works as a sealed off system with no immediate market value for mined Pi coins. However, once it has a sufficient user base and network reliability, the project intends to shift to a reorganized and fully functional crypto currency.

4. Community and Governance: The Pi Network places a high value on cultivating an engaged and inclusive community. Users are encouraged to invite friends and relatives to join the network, and a referral system allows them to earn additional Pi coins.

As simply says This software helps to generate Pi by just contributing to the Pi group. The more you donate, the more Pi you will receive.

To begin earning Pi, log in every 24 hours and press the lightning button icon to begin mining. After you’ve started collecting, you may increase your hourly rate by recruiting reliable relatives and friends to find a community.

After 3 days of generating, you may increase your profits by constructing your safety ring, which adds to the platform’s security infrastructure. Please remember that early users of the chain collect at a faster pace than those that follow them.

Planning to Buy ??

If you are planning to buy PI in India, please note that you cannot exchange it at this time. This is because PI is still in the testing phase. However, you can transfer or withdraw your PI coins in the third phase of the Pi Network, which is probable to launch soon. At that time, the Pi Network will move to a fully decentralized block chain.

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