How to Sell Pi Coin in 2024? The Beginner’s Guide

Pi Coin is a fantastic idea that has the potential to completely transform the cryptocurrency mining industry; it is not just another digital currency. With the release of Pi in 2019, mining became accessible to regular people with desktop or mobile computers. The mathematical constant π, which represents the ratio of a circle’s circumference to its diameter and represents invention at its best, is where the coin got its name.

Pioneers Pi has amassed a substantial following with more over 50 million app users, particularly due to its focus on accessibility and user-friendliness. Users can easily earn Pi Coins and contribute to network security by using a mobile mining app. The project has the potential to be widely adopted and useful, as evidenced by its latest advances, which include gaming, DeFi, and metaverse applications.

Pi’s efforts to establish itself as a legitimate player in the cryptocurrency field are evident in its advancement towards a live blockchain and trademark recognition, despite ongoing discussions regarding its legality. Pi’s community-driven strategy and audacious goal have established it as a viable competitor in the rapidly changing world of digital currencies, even though it is not currently tradable.

If you have accumulated a significant quantity of Pi Coins and are thinking about selling them, this is the ideal place for you to do so. An extensive tutorial on selling your Pi Coin can be found on our website. We’ll guide you step-by-step through the procedure, ensuring a smooth and stress-free exchange.

Key takeaways

• P2P (peer-to-peer) transactions, direct spending at PI-accepting retailers, and exchange-issued IOUs are some of the ways that PI coin can be sold.
• Fraud is more likely to occur in P2P sales conducted online. While less convenient, offline P2P sales are often thought to be safer due to the reduced potential for scams.
• Pi Network’s market performance can be tracked using Pi coin IOUs on exchanges such as Bitmart and Huobi, however these tokens are not the same as the real thing.
• You may also use your Pi coins at stores that take them to buy things like gaming accessories or even bigger things.
• The current choices for selling are fraught with danger, particularly those that depend on P2P sales conducted online. Hold off on making a purchase until the Open Mainnet becomes up and more standardised, secure solutions become available.

What is Pi Network?

One cryptocurrency that lets people mine it on the go is Pi Coin. Its creators are alums of Stanford University, and their goal is to make mining cryptocurrencies easy for everyone. Pi Coin is both easy to use and efficient with energy because it doesn’t need a lot of processing power, unlike other cryptocurrencies.

Drs. Nicolas Kokkalis, Chengdiao Fan, and Vincent McPhillip—all of whom graduated from Stanford University—worked together to create the Pi Network. The creators of this decentralised cryptocurrency pooled their knowledge of blockchain, social computing, and commerce to make it available to everyone. They set out to remove the obstacles that regular people faced while trying to join the Bitcoin revolution.

To make cryptocurrencies accessible to more people, that was the main idea behind Pi Network. Using specialised technology and consuming a lot of energy, mining traditional cryptocurrencies like Bitcoin has grown increasingly challenging. Because of this, mining bitcoins and profiting from their potential has become extremely difficult for ordinary people.

In response to these issues, the developers of Pi Coin set out to create a cryptocurrency that anyone can utilise by enabling smartphone mining.

How to Sell Pi Coins?

In addition to selling them online, you can also sell your Pi coins in person to interested parties. When selling PI, the peer-to-peer technique lets you agree on a price and a way to pay for it. Notably, the peer-to-peer (P2P) method predates all others when it comes to exchanging cryptocurrencies. Users would sell Bitcoin directly to one another using PayPal or another payment method while the cryptocurrency was in its early stages, when there were no crypto exchanges available.

But P2P isn’t the only way to sell PI. Here we’ll take a look at a few various methods for selling Pi coins.

1. Peer-to-Peer transactions

P2P via Offline:

Keep an eye out for potential scammers among the many individuals offering to sell Pi coins online. When making a purchase online, be very wary and sceptical.

Check the buyer’s identity and reputation before committing to an online purchase. Try to find trustworthy groups or platforms where members have already made a name for themselves.

To lessen the likelihood of fraud, think about making use of an escrow service or a platform that provides buyer protection. Until all parties have met their responsibilities, these services will keep the Pi coins in escrow.

P2P via Online

Convenient as it may be to meet virtually, meeting in person lowers the risk of fraud. Meeting the buyer in a well-lit, secure public area is a smart idea.

The buyer’s identity and ability to pay for the Pi coins must be confirmed. Think about using a public, secure place, like a bank or police station, to do your financial transactions.

Consider taking cash payments if you’re selling Pi coins offline. Give over the Pi coins only after you’ve verified their legitimacy and counted the money.

2. Listing on an exchange

The last choice may not be pleasant, but it’s likely that you’d be better off waiting for the Pi Network open mainnet to formally start before making any decisions. It is often anticipated that once the mainnet is operational, the Pi coin will be offered on cryptocurrency exchanges. After that (if it ever happens), you can trade PI just like any other coin or token, eliminating the risk of scams or bad deals.

Some in the community have seen the team’s recent uptick in recruiting new developers as an indication that they are getting ready for the mainnet’s open debut.

The Pi Network team announced in December 2023 that three primary requirements must be met before Pi moves into its Open Network phase, although they did not specify when this would happen. The following are the terms stipulated by the group:

• Use Pi Network’s consistent methodologies to complete any Open Network preparation work in technology, product, business, and law.
• The following objectives should be met in terms of network KYC, migration, and utility creation: Fifteen million Pioneers finishing Know Your Customer and ten million Pioneers moving to the Mainnet
• For Open Network to be successful, there must not be any external factors that operate against it.

3. Swap Pi-Coin-Backed IOUs

Trading IOUs on supported exchanges is another option to get exposure to the price of Pi Network. Simply said, IOUs are informal agreements that recognise debt. You will likely be able to convert your IOUs into actual Pi coins once trade begins.

Remember that the value of an IOU does not reflect the value of a cryptocurrency at launch, therefore it’s hazardous to hold on to them until the launch happens.

Importantly, Pi coin IOUs are not the same as actual Pi coins. Nonetheless, they are a fantastic tool for gauging the future value of Pi coin. As of this writing, the price of Pi coin IOUs on Bitmart and Huobi is approximately $34.50, representing a decline of approximately 15.4% over the previous three months. Scepticism over the launching of the Pi Network open mainnet in 2024 may be the cause of the IOUs’ declining pricing.

Feel free to have a look at our Pi Network price prediction if you’re interested in seeing how the value of Pi coin IOUs could fare in the future, taking into account technical indications and historical market data.

4.Trading Pi Coins Between Users

There is presently no PI trading on crypto exchanges (save for PI IOUs, but we’ll get to those later) because the Pi Network’s mainnet is still locked and the comprehensive roadmap continues to experience delays. That implies there is very little price discovery, and no one knows how much a single PI coin is worth; it may be a penny, a dollar, or even a hundred dollars.

That’s why you see so many social media users saying they’ll buy PI from you, but at wildly varying prices. Of course, there are also people who prefer to make in-person purchases of PI. Let’s compare the two P2P approaches:

In our experience and based on the feedback of a large number of users, the vast majority of people that advertise buying Pi coins online are frauds. They are taking advantage of people who are prepared to send them coins in the prospect of being paid for PI, but they have no intention of actually paying for it themselves.

Even though meeting in person to sell Pi coin is much less convenient than setting up a transaction online, it makes it less convenient for scammers. Even though we haven’t participated in any in-person P2P Pi currency deals, we’d put our faith in them more than we would any internet exchange.

5. Direct Spending on products and services

You can buy goods and services from merchants that accept Pi directly with your wallet if you have a lot of Pi coins but aren’t a fan of other ways to sell them. Businesses that take PI for various goods and services range from those who sell silver for PI to those that accept PI for gaming equipment. As the Pi Core team’s X (formerly Twitter) account attests, there was even an instance where an automobile was sold for PI.

Notably, the Pi Network team recently held a hackathon with the goal of developing an app that might link Pi users with businesses that accept Pi. The hackathon’s grand prise winner will have their programme showcased on March 14th, Pi Day, giving them exposure to Pi’s massive user base all over the globe.

The Pi Commerce Hackathon begins Feb 1 to Mar 3! Create an app that connects Pioneers with businesses accepting Pi. Learn about how to participate, create teams, use new prototypes/mockups as a design starting point and more!https://t.co/03FIuCDw9s

— Pi Network (@PiCoreTeam) February 2, 2024

What to Consider When Selling Pi Coin?

Pi Coin’s value might rise and fall with the tides of supply and demand in the market. Selling at the best possible price requires constant market monitoring.

• Keep in mind that the exchange may impose fees on each transaction. The amount of money you make after expenses could change.
• Protect your assets from harm by only dealing with trusted platforms and according to industry standards.
• Limitations: Research the cryptocurrency laws in your area thoroughly.
• To stay out of legal hot water, compliance is paramount.

How to Sell Pi Coin Successfully?

Here are some pointers to help you sell Pi Coin:

• Maintain your knowledge: Read the most recent articles published by reputable news outlets regarding Pi Network and the bitcoin market.
• Before you even think of selling your Pi Coin, make sure you know what you want to achieve financially.
• Spread your bets; Pi Coin shouldn’t be your only cryptocurrency holding. Diversify your portfolio to reduce exposure to risk.
• For the security of your transactions, only utilise reputed and reliable exchangers.
• If you follow these guidelines, you’ll be more equipped to sell Pi Coin through the Pi app and on Binance and other exchanges when it starts.

Pi Coin History

On March 14, 2019, also known as Pi Day, the Pi Network software was released, and with it, Pi Coin. Expanding the user base and establishing a solid community were the primary goals of the first stage. Pi Coin mining was as easy as tapping a button on the app once every 24 hours at this phase.

To ease the move to a completely decentralised blockchain, the second phase launched a testnet in March 2020. During this stage, the team was able to put the network through its paces, install security measures, and tweak it according to user input.

The team prioritised preparing for the mainnet launch, increasing security, and expanding the app’s functionality as the network expanded. Building a completely autonomous and decentralised network is the goal of the mainnet phase, the last stage of the project’s development. During this stage, users will be able to trade Pi Coin on different exchanges and use it for actual transactions.

When Will the Market Be Able to Trade Pi Coins?

As far as the Pi Network core team is concerned, 2024 is when they intend to debut. Nevertheless, no exact release date was announced. The success of this launch is contingent on three things, and the team is asking for everyone’s help to ensure that they are met.

In addition to releasing a V2 roadmap, the team completed all of the first condition’s preparations. The team’s aim includes creating one of the most inclusive P2P ecosystems and reaching 15 million KYC-verified pioneers. Despite the team’s optimistic statements on the open market launch, they continue to be wary regarding numerous adverse global circumstances that could potentially pose obstacles.

PI to Country Currency

The exchange rates of PI Coin (PI) to different currencies in various nations are displayed in the following table. The market values as of the supplied data are the basis for the exchange rates.

The chart shows the exchange rates of 1 PI Coin to various currencies, including USD, INR, AED, EUR (in Italy, France, and Spain), AUD, TRY, RUB, VND, IDR, and BRL. The cross rates provide information about how much a PI coin can be worth in various global markets.

Conclusion

Before the open mainnet launch, there are a lot of ways to sell your Pi coins, but you should know that almost all of them are risky. The only reliable method of selling PI is through peer-to-peer transactions, therefore you must have faith in the buyer to fulfil their half of the bargain. There won’t be much you can do to prevent losing coins if they don’t.

In the past few months, the Pi community has been very vocal about their disapproval of the open mainnet launch and the delays in its rollout. Some users have even gone so far as to say that the Pi team has no plans to release the complete network, casting doubt on the validity of Pi Network. The latest disclosures indicate that the Pi Network team is planning to launch the open mainnet in 2024.

How to Sell Pi Coin: FAQs

Is it possible to sell Pi coins?

Due to the Pi Network mainnet’s pending formal launch, Pi Coin is currently not available for direct sale on any of the major cryptocurrency exchanges. Nonetheless, peer-to-peer (P2P) transactions allow you to sell Pi Coin both online and offline, but be wary of con artists.

Can Pi Coin be exchanged for cash?

It is possible to swap Pi Coin for cash through peer-to-peer transactions or by using Pi Coin IOUs on some exchanges. An other choice is to exchange Pi Coin for cash via PayPal or other comparable payment processors.

How can I get money for my PI?

You have three options for selling your Pi Coin for cash: peer-to-peer transactions, trading Pi Coin IOUs on specific exchanges, or using payment processors like PayPal. Another simple option to sell is to wait for the formal listing on major exchanges.

BTCC will keep you updated with the Pi ecosystem hype, especially the Pi Network launch date. Read the following articles for more information about the Pi Network:

• Is Pi Network Legit Or Scam: Pi Cryptocurrency Real Or Fake?
• Pi Coin Price Prediction 2025:Will Pi Ever Be Worth Money?
• Will Pi Network Ever Launch? What Stage is Pi Network Now?
• Pi Network Price Prediction Hinges on Its Open Mainnet Launch
• Pi Wallet: Does Pi Network Have a Wallet App?
• Pi Network News: Will Pi Coin List on Binance?
• Will Mined Pi Tokens Be Part Its Circulating Supply?
• How to Create a Pi Network Invitation Code

Disclaimer: Pi coin carries a high level of risk and it is not recommended to trade this coin.