Pi coin is a new cryptocurrency that can be mined on your smartphone without draining your battery or data. It is designed to be accessible, user-friendly, and scalable.
As the Pi Network gains popularity, many users are eager to convert their Pi coins into real-world currency. However, many Pi users wonder how they can convert their Pi coins into cash and withdraw them through PayPal. In this blog post, I will show you how to do that in a few simple steps.
Step 1: Join Pi Network and Mining Pi Coins
Pi Network is a new cryptocurrency that you can mine on your smartphone without draining your battery or data. To join Pi Network and start mining Pi coins, you need to follow these steps:
- Download the Pi Network app from the App Store or Google Play.
- Create an account using your email address or phone number.
- Enter your invitation code from a friend or family member who is already a Pi user.
- Start mining Pi by pressing the “Mine” button once every 24 hours.
- Participate in community events and discussions to stay informed and engaged.
By joining Pi Network and mining Pi coins, you can be part of a global community that is building a decentralized and secure digital currency for the future. You can also earn passive income and increase your mining rate by inviting more people to join your referral team, completing your security circle, running a node, using apps on the Pi browser, and setting a lockup configuration. For more information, you can visit the [Pi Network website Pi Blockchain, Community & Developer Platform | Pi Network. https://minepi.com/.
To learn how to join PI network step by step and start mining, use this guide:
For Kyc verification process, use this guide.
Now if you have completed the steps you are now in the venture to cash out your Pi coins .
Step 2: Enroll in PayPal and Sandbox Testing
To turn Pi Coins into actual money, you must first have a PayPal account. If you don’t have one, start by signing up with PayPal, a widely trusted online payment platform.
Additionally, grasp the idea of “sandbox testing” employed by PayPal. It’s a method for testing payment integrations without using real money, ensuring your Pi Coin payment system functions correctly before involving actual funds.
To learn more about sandbox testing read our linked guide here: What Is a Sandbox Environment? [+ How to Create One]
Step 3: Creating a Test Application on PayPal
After setting up your PayPal account, proceed to create a test application within your account. This step is crucial as it enables the integration of the Pi Coin payment system into your application.
Essentially, a test application serves as a dedicated space where you can thoroughly test payment integration without using actual funds.
Input all necessary details within this test environment to establish the connection with your Pi Coin payment system.
Creating a test application within your PayPal account.
To create a test application, you need to use the PayPal sandbox, which is a virtual testing environment that simulates the live PayPal production environment. The sandbox lets you test your PayPal processes and transactions without touching any real PayPal accounts.
Here are the steps to create a PayPal test application in the sandbox:
1. Log in to the [Developer Dashboard] using your live PayPal account credentials, or create a new PayPal account by clicking the Sign Up button on this site.
2. Navigate to the Sandbox > Accounts page and click Create Account.
3. Set the Account Type to Business and select a Country. Click Create Account. A business account with default values and associated API test credentials is created for you. 🎉
4. If you need more customization of the test values, click Create Custom Account in the Create Sandbox Account dialog.
5. To view and manage your test application, go to the Dashboard > My Apps & Credentials page and select the Sandbox tab. You can edit, delete, or view the details of your test application from this page.
For more information, you can check out the [PayPal sandbox testing guide] or the Sandbox accounts page. I hope this helps you with your test application.
Step 4: Integrating Pi Coin Payments into the Application
Proceed with integrating the Pi Coin payment system into your application, which is currently undergoing sandbox testing. This process may entail utilizing the API (Application Programming Interface) offered by Pi Network.
To integrate Pi Coin payments into your PayPal sandbox testing application, you need to follow these steps:
1. Open the sand box test application you created using PayPal using the [Developer Dashboard] on a new window. This will allow you to test your payment integration without involving real money. You will also get the API credentials for your test application. 🔑
2. Register your application on Pi Network using the [Pi Developer Portal]. Start by clicking create app on Pi. This will allow you to access the Pi Network API and get the API key for your application. You will also need to specify the scopes and permissions for your application. 🔐
3. Use the Pi Network API to initiate, approve, and complete Pi Coin payments from your application. You will need to use the API key from Pi Network and the API credentials from PayPal to authenticate your requests. You will also need to handle the callbacks and webhooks from both platforms to confirm the payment status. 💸Note that these api keys you will get from PayPal Developer accounts and Pi Developer Portal.
4. Use the PayPal API to convert Pi Coin payments into real money and transfer them to your PayPal account. You will need to use the exchange rate and the conversion fee provided by PayPal. You will also need to handle the errors and refunds from both platforms. 💰
It’s crucial to note that payment system integration is a technical task that demands a grasp of software development. If you lack experience in this area, consider seeking assistance from an experienced software developer.
If you wish to become a experienced software developer, You can check our software development courses here .
Step 5. Transaction Testing
After successfully integrating the Pi Coin payment system into your application, proceed to test Pi Coin payment transactions within the sandbox testing environment. This is a crucial step to verify the proper functioning of all systems before actual money is introduced.
In the testing phase, assess the seamless execution of Pi Coin payments by users and verify the accurate storage of transaction data. Thorough and repetitive testing is essential to identify and address any potential issues.
Step 6. Withdrawing Money to PayPal
After completing thorough testing and confirming the proper functionality of the Pi Coin payment system, you can proceed to convert your Pi Coins into real money. Begin by ensuring that your Pi Coin balance meets the minimum withdrawal requirement, which may vary based on the rules set by Pi Network.
Once you have confirmed that your balance is sufficient, you can start the withdrawal process. Pi Network will usually provide the option to convert Pi Coins into real money and send them to your PayPal account accordingly.
Conclusion
As you can see, converting Pi coins to cash and withdrawing them through PayPal is not very difficult. You just need to follow these three steps:
- Connect your Pi account to your PayPal account
- Deposit Pi coins to your PayPal account
- Withdraw money from your PayPal account
By doing this, you can enjoy the benefits of Pi coin, such as mining on your smartphone, earning passive income, and being part of a global community, while also having the option to cash out your Pi coins and use them for your needs.
I hope you found this blog post helpful and informative. If you have any questions or feedback, please leave a comment below. Thank you for reading and happy mining!
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