How to Sell Pi Coin in 2024? – The Beginner’s Guide - BTCC (2024)

There is currently no way to trade Pi coins for Bitcoin or Ethereum on Binance or any other cryptocurrency exchange. You can still try to sell your Pi coins through other channels, such as peer-to-peer trading or by spending them at stores that accept the cryptocurrency.

The Pi Network is a widely-used cryptocurrency venture because its currencies may be mined on mobile devices for no cost. Due to the ambitious nature of the project, many people have mined Pi coins and are now trying to figure out where they may trade them.

In this post, we will detail the many means by which one can sell Pi coin in 2023, giving our recommendations as to which are the most reliable and which one should be avoided at all costs.

What Is Pi Coin?

PI Coin, also known as PI Network, is an online money initiative with the goal of making cryptocurrency mining accessible to regular people using a smartphone app. This initiative gained traction in 2019 after being founded by Stanford alums thanks to its innovative approach to mining. This is in contrast to Bitcoin and other cryptocurrencies, which necessitate high-priced technology and substantial energy consumption.

The main advantage of Pi is that, unlike existing cryptocurrencies, it doesn’t require a powerful equipment to mine. Any desktop or mobile computer may do it. The project’s user base, known as Pioneers, lives by this attitude as well. By May 2024, 51 million Pioneers had gone through Know Your Customer (KYC) processes and transitioned from the testnet to the mainnet.

The reality of Pi is a topic of heated debate. However, it has achieved significant progress. Pi sought trademark protection. Its desire to be perceived as real is evident here. Since January 2023, the request has been under review by the United States Patent and Trademark Office. The Pi system is also expanding. New applications for Pi Network users have been created during hackathons. The metaverse, decentralized banking, and gaming are the intended uses of these applications.

Importantly, Pi network’s dedication to inclusivity and equity is mirrored in this novel mining architecture. This sets it apart from traditional cryptocurrencies that use very powerful, specialized computers. Any user can mine Pi using their smartphones or personal PCs, unlike other currencies that require expensive hardware components and significant energy requirements.

Central to Pi is its mobile app, which streamlines mining to a single tap once every 24 hours. With more and more people taking notice and development moving forward, the Pi Coin’s goal of creating a decentralized, user-friendly digital currency environment is becoming closer to reality, which bodes well for the future of the cryptocurrency industry.

How to Sell Pi Coins?

The procedure for buying or selling Pi coins is not set in stone. The Pi Network mainnet launch is still pending, as is the opening of the secure gateway. This explains why Pi coins aren’t available for trading on well-known cryptocurrency exchange sites. Let’s investigate the approaches that can be used to sell Pi coins.

Individuals can engage in a peer-to-peer (P2P) trade of Pi coins for a predetermined sum, without the need for a bank or exchange. Pi coins can be sold using P2P in two ways: online and offline.

1. Peer-to-Peer transactions

P2P via Offline:

With P2P through Offline, you can send and receive physical cash for Pi. Meeting in person is obviously less convenient than doing business online, but that’s just a truth. Offline is a better choice for users who want to be sure their transaction is secure.

P2P via Online

Any peer-to-peer (P2P) platform can link Pi buyers and sellers. This approach lacks authenticity because it does not validate transactions or ensure safety. Reviews and comments of fraudulent Pi via P2P transactions abound online.

2. Listing on an exchange

You can trade cryptocurrencies with confidence on the exchange platform. It is widely expected that Pi Network’s open mainnet will launch soon, even though it has not yet been formally added to the exchange list. Exchanging Pi coins for fiat money or other cryptocurrencies will be possible on exchanges whenever that occurs.

You may be assured that your Pi currency transaction will be safe and sound because the network will soon be up and running on major exchanges, thanks to the coins’ growing popularity. The most recent rumors on the company’s efforts to recruit new Pi currency developers show that they are determined to launch the mainnet quickly.

3. Swap Pi-Coin-Backed IOUs

Many prominent cryptocurrency exchanges still do not list Pi currencies. There is, however, always the option to exchange Interest-Bearing Obligations (IOUs) for money or cryptocurrency. The Pi network and other private agreements between users allow for the trading of IOUs, which are unofficial agreements accepting debt.

Keep in mind that Pi coin IOUs aren’t real Pi coins, but they help paint a broad financial picture of the coin’s worth.

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

One can immediately spend Pi on goods and services, just like one would with fiat currency. The sole obstacle to this approach is locating a platform or retailer that is willing to accept Pi as payment for their product.

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 circ*mstances 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

If you’re trying to figure out where to sell your Pi coins before the open mainnet launch, take in aware that almost all of your choices come with significant dangers. Only amongst peers may PI be sold, thus you’ll have to have faith in the person buying your Pi coins to fulfill their half of the bargain. If they don’t, you’re out of luck and will be short some cash.

It’s important to note that the Pi community has been vocal about their frustration with the delays in the launch of the open mainnet over the past few months. Some users have even gone so far as to question the legitimacy of the Pi Network, claiming that the Pi team has no plans to release the full version of the network.

BTCCwill 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.