Have you ever wondered how to sell Pi coin most efficiently and securely? You cannot sell Pi coins on Binance or some other cryptocurrency exchange like you would Bitcoin or Ethereum.
However, that does not mean you are out of luck when selling your Pi coins. you can try peer-to-peer methods spend your PI directly at merchants that accept PI, and more.
Pi Network is a prominent cryptocurrency project that allows users to mine Pi coins for free using their smartphones. The project means that thousands, if not millions, of users, have mined many Pi coins and are now wondering where to sell them.
In this article, we will list diverse ways “how to sell the Pi coin in 2023?” and provide opinions on which methods are the safest and which you should avoid if you do not want to get scammed.
How to Sell Pi Coin? A Complete Overview
You can sell your Pi coins to interested buyers online and offline – the peer-to-peer method allows you to agree on the price and payment method used when selling PI. It is worth mentioning that the P2P approach is the oldest way of trading cryptocurrency.
Back when Bitcoin was starting, and there weren’t any crypto exchanges, people would sell BTC through PayPal or another payment service without needing a third party.
However, P2P is just one of the methods for selling PI – in the following sections, we will examine several diverse ways of selling Pi coins.
Sell Pi Coin Peer-To-Peer
Since Pi Network’s mainnet is still closed, and the detailed roadmap continues to face delays, there is currently no PI trading on crypto exchanges. This implies that there is very little price discovery, and people need to know the value of a single PI coin honestly; it might be worth 1 cent, $1, or even $100. The important thing is that nobody knows.
As a result, several users on social media platforms claim to be willing to acquire PI for different rates. Of course, some individuals prefer to purchase PI in person. Let’s compare the two P2P methods:
Selling Pi Coin P2P (Online):
According to our experience and several people’s comments, most users who advertise buying Pi coins are scammers. They do not plan to pay for PI. They prey on those willing to send their coins in hopes of getting paid.
Selling Pi Coin P2P (Offline):
While meeting in person is way less convenient than setting up a transaction online, it also makes it less convenient for scamming people. While we have no experience with in-person P2P Pi coin trades, we would think they are much more likely to be legit than their online counterparts.
Trade Pi Coin IOUs
Trading IOUs on supported exchanges is another way to speculate on the price of Pi Network. IOUs represent informal debt agreements and can be exchanged for real Pi coins once the open mainnet launches and trading begins.
It is essential to note that Pi coin IOUs do not equate to actual Pi coins. The price of Pi coin IOUs on platforms such as Huobi and Bitmart, have fluctuated, driven by variables such as the upcoming release of Pi Network’s complete roadmap, the release of new features, and more.
According to the Pi Coin price prediction algorithm, the price of IOUs could rally by as much as +436% by next year, which could coincide with the opening of the Pi mainnet.
Direct Spending Your Pi Coin on Products and Services
If you have a bunch of Pi coins in your wallet and do not like other selling methods, you might want to consider spending your PI directly on products. Some businesses accept PI for various products and services, from selling silver for PI to accepting PI in exchange for gaming items. There is even a case of a car that was sold to PI, according to the Pi Core team’s X (formerly Twitter) account.
Wait For the Pi Coin to Be Listed on An Exchange
While the final option might not be what you want to hear, the reality is that you would be best served to wait for the official launch of the Pi Network open mainnet. The Pi coin is widely believed to be listed on cryptocurrency exchange once the mainnet is open.
When (if?) that happens PI will be traded like any other coin or token, meaning that you will not have to worry about potentially getting scammed or getting a bad deal on your coins.
Recently, the team has escalated its attempts to entice new developers to the network, which some in the community interpret as a hint that the firm is preparing for the mainnet’s open launch.
Key Takeaway: There are diverse ways to sell Pi coins, but it would be best to wait for the launch of the open mainnet
If you are wondering how to sell your Pi coins before the open mainnet launch, please remember that every option currently involves a high degree of risk. You must trust the person purchasing your Pi coins to uphold their part of the bargain, as peer-to-peer transactions are the only viable method for selling PI.
There will only be a little you can do if they don’t, and you’ll run out of cash. I hope you found this article helpful in learning “how to sell Pi Coin?”
It is worth noting that the delays in the launch of the open mainnet have drawn a lot of attention and criticism from the Pi community in recent months, with some users claiming that the Pi team never intended to release the full a version of its network, calling the legitimacy of the Pi Network into question.
Frequently Asked Questions
How to Sell Pi Coin?
Pi coins are worthless on most platforms today. In 2023, You can’t sell them for other cryptocurrencies like Bitcoin or Ethereum on exchanges such as Binance, Coinbase, Kraken, etc. But you can sell PI coins unofficially using Peer-to-Peer Transactions.
How to Exchange Pi Cryptocurrency?
Pi cryptocurrency cannot be traded because it has yet to be listed on any exchange platform.
The Pi cryptocurrency is set to be released in its third stage of development. It is now available for mining during its testing phase. However, investors can only buy or sell Pi crypto once it is launched on an exchange.
What Can You Buy with Pi Cryptocurrency?
At the moment, Pi crypto cannot be used to purchase anything. Users can, however, mine the cryptocurrency through the app and retain. It until it is posted on an exchange for trading.
App users can mine Pi crypto on the Pi network. It can then be bought and sold on an exchange once it is listed.
Who is the Owner of Pi Network?
The Pi network was founded in 2019 by Nicolas Kokkalis, Vince McPhilip, and Chengdiao Fan.
All three co-founders are Stanford graduates who began the network in March 2019 with AurelienSchiltz (a visiting student researcher). They sought to create a cryptocurrency platform that could be accessible via smartphones.
How Many People Can Join Mine Pi Network?
One trusted member can invite 3-5 others to join the Pi network.
To become a trusted member, one must mine Pi coins for three days. You can invite 3-5people to join the network and begin mining. As your invited members mine, you can benefit from them as it will increase your earnings by 25% for each active miner.