Pi Network / Pi Coin Current Value — $36.62 (as of Nov 5, 2023). Expected to reach $286.72 by 2025 (Source).
Pi Network or Pi Coin is a blockchain-based lightweight platform that allows you to mine cryptocurrency without any expensive hardware or even any time investment from you.
What is Pi Network?
Pi Network is a blockchain-based platform that allows you to mine cryptocurrency on mobile phones without draining batteries. It is designed to be user-friendly and environmentally friendly, to make cryptocurrency accessible to everyone. It is an experimental cryptocurrency project that aims to create a decentralized and user-friendly cryptocurrency network accessible through mobile devices. It was created by a team of Stanford graduates and sought to involve everyday users in the cryptocurrency mining process without the need for specialized hardware or excessive energy consumption.
The unique aspect of Pi Network is its approach to mining. Unlike traditional cryptocurrencies like Bitcoin that rely on energy-intensive Proof of Work (PoW) or resource-intensive Proof of Stake (PoS) mechanisms, Pi Network introduced the concept of “Proof of Mining” where users could mine Pi tokens directly through a mobile app by simply pressing a button once a day. This approach was designed to be more user-friendly and energy-efficient.
The project has gained a lot of attention due to its ease of use and the promise of earning cryptocurrency without significant computational resources. The Pi Network also has a community of developers and users working to build a decentralized ecosystem for the future of social cryptocurrency in Web3. The vision of Pi Network is to build an inclusive and the most widely distributed token and ecosystem for all Pioneers.
Why should I start mining Pi?
Pi Network has several advantages, including being decentralized, user-friendly, and mobile-first. The mining mechanism of Pi Network is social network-based. Pi Network’s network size has now grown to over 10 million engaged members. There are several reasons why you might want to start mining Pi. One of the main advantages of Pi Network is that it allows you to mine cryptocurrency on your mobile phone without draining your battery or using up your data.
This means that you can participate in the cryptocurrency market without having to invest in expensive hardware or consume a lot of energy. Additionally, the mining process is designed to be user-friendly and accessible, to make cryptocurrency available to everyone. By mining Pi, you can become part of a growing community of developers and users working to build a decentralized ecosystem for the future of social cryptocurrency in Web3.
How to start Mining Pi Coins?
To start mining Pi, all you need is an invitation from an existing trusted member of the network. You can then download the mobile app and start mining for free.
Follow these steps to get started –
- Download the Pi Network app by clicking HERE. It is available on both the App Store and Google Play.
You can also scan this QR Code below to get started —
2. Sign up using your Facebook account or email address.
3. Set up your password by following the instructions on your phone’s screen to create a strong, unique password.
4. Enter my Invitation Code — arijitray81 (A R I J I T R A Y 8 1)
5. Click the lightning button to start mining.
The mining process in the Pi Network doesn’t rely on the computational power of your device. Instead, it uses the consensus algorithm SCP (Stellar Consensus Protocol). SCP allows it to be mined on a smartphone without draining your battery or data. The app doesn’t need to stay open for the mining to occur. You must, however, check in every 24 hours and hit the lightning button to boost your mining rate. The mining rate is also boosted by referring other users with your referral code, reflecting Pi Network’s emphasis on expanding its user base.
How many Pi Coins can you mine?
The mining rate of Pi Network is social network-based. You can boost your mining rate through diverse contributions such as Pi Lockups, App usage, Node operations, and more.
What is the value of Pi Coins?
The value of Pi Network cryptocurrency varies depending on the source. According to CoinDataFlow, one Pi Network is worth $41.57 (as of Nov 5, 2023). According to Forbes, the price of Pi Network is $36.62 (as of Nov 5, 2023). It is expected to reach $286 per coin by 2025 (Source).
It’s important to note that the value of cryptocurrencies can fluctuate rapidly, so these values may not be up-to-date.
How can I use/sell Pi Coins?
Currently, the Pi Network is in the Testnet phase. This means that the Pi cryptocurrency is not yet available for trading on exchanges or for use in transactions. However, the developers of Pi Network are working on building a decentralized ecosystem for the future of social cryptocurrency in Web3. Once the Mainnet is launched, users will be able to use their earned Pi cryptocurrency for transactions within the Pi Network ecosystem.
Remember to complete your KYC on Pi Network.
To complete KYC on Pi Network, you need to follow these steps:
- Download the Pi Browser from the Google Play Store or Apple App Store.
- Sign in and click on KYC Pi.
- Allow the form to open. When you are eligible, the KYC process will open, then follow the steps to complete your KYC.
- After you successfully complete the process, click on Submit.
It’s important to note that newly created accounts will not be able to immediately apply for KYC verification until after mining for 30 days (no need to be consecutive). This helps the network prioritize KYC validation resources for more committed human Pioneers who also have mined enough balance to make sense to go through KYC and migrate to Mainnet.
What is the future of Pi Network / Pi Coins?
The future of Pi Network is promising. According to the Pi Core team, Pi Network is currently at a significant phase of its enclosed Mainnet development, the final stages of transition to an open Mainnet. This will allow for full decentralization, and access to other blockchains, and enable Pi coins to trade with other cryptocurrencies or fiat currencies. The vision of Pi Network is to build the world’s most inclusive peer-to-peer ecosystem and online experience, fueled by Pi, the world’s most widely distributed cryptocurrency. So, stay tuned with your fingers 🤞
So what are you waiting for? Download the Pi Network app today and start mining! Remember to continue mining everyday — it will ensure excellent returns in the future.
Remember to use my Pi Network Invite code while signing up — arijitray81
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