Pi Network is a social cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining battery or harming the environment. It also offers a developer platform where users can build decentralized applications with Pi coins.
If you are one of the 35+ million Pi users who have been mining Pi coins on your phone, you might be wondering how to cash out your Pi coins in 2024.
Pi Network is currently in the Enclosed Network period of Mainnet, which means that Pi coins are not yet available for trading on any exchange. However, there are some ways to convert your Pi coins into cash using third-party platforms or services. In this blog post, we will explore some of the options.
How to Cash Out Your Pi Coins
As Pi Coin gains traction in the cryptocurrency space, it’s vital for users to grasp the process of selling Pi Coin and converting their digital assets into tangible value. Here we will see the diverse strategies and methods for effectively selling Pi Coin in 2024.
What is Pi rate? How much is 1 Pi in dollars?
As of the current time of writing, the live price of 1 Pi Coin is $34.71 USD, and it has a 24-hour trading volume of $347,530. Pi is currently ranked 4006th in the cryptocurrency market.
Please note that cryptocurrency prices are highly volatile and can change rapidly, so it’s essential to check real-time prices on a reliable cryptocurrency exchange or platform.
How to sell Pi Coin
Option 1: Sell Pi Coins on Pi Exchange
Pi Exchange is a peer-to-peer platform that allows Pi users to sell and buy Pi coins directly from each other. Pi Exchange is not an official product of Pi Network, but it is authorized by Pi Network to operate during the Enclosed Mainnet period. Pi Exchange uses a smart contract to ensure the security and fairness of the transactions. Pi Exchange charges a 5% fee for each transaction.
To sell Pi coins on Pi Exchange, you need to follow these steps:
- Register on Pi Exchange using your Pi Network username and phone number.
- Verify your identity by uploading a photo of your ID and a selfie.
- Create a sell order by specifying the amount of Pi coins you want to sell, the price per coin, and the payment method (PayPal, bank transfer, etc.).
- Wait for a buyer to accept your order and send you the payment.
- Confirm the receipt of the payment and release the Pi coins to the buyer.
Some popular pi exchange platforms to use are BitMart, Huobi etc
To learn more read this article to learn where to exchange your coins. Top 5 Platforms For Selling Pi Network Coin IOUs
Option 2: Convert Pi Coins to PayPal
Another way to cash out your Pi coins is to convert them to PayPal using a third-party service called Pi2PayPal. Pi2PayPal is a platform that connects Pi users who want to sell Pi coins with PayPal users who want to buy Pi coins. Pi2PayPal is not affiliated with Pi Network or PayPal, and it operates independently. Pi2PayPal charges a 10% fee for each transaction.
To convert Pi coins to PayPal using Pi2PayPal, you need to follow these steps:
- Register on Pi2PayPal using your Pi Network username and email address in sand box.
- Link your PayPal account to your Pi2PayPal account.
- Create a sell order by specifying the amount of Pi coins you want to sell and the price per coin.
- Wait for a buyer to accept your order and send you the PayPal payment.
- Confirm the receipt of the payment and release the Pi coins to the buyer.
This process can be a bit tricky if its your first time so to follow the steps along you can check this linked guide How to withdraw you Pi coins to Real Money using PayPal.
Option 3: Trade Pi Coins on Crypto Exchanges
The third option to cash out your Pi coins is to trade them on crypto exchanges that support Pi coins. However, this option is not available yet, as Pi Network has not launched its Mainnet and has not approved any exchange listing for Pi coins.
Pi Network is aware of reports that some unauthorized exchanges are seeking to list Pi coins or tokens purporting to be Pi coins, but these are not affiliated with Pi Network and could result in substantial loss or damage to Pi users.
Pi Network recommends to all Pi users not to engage with any of these exchanges or third-party actors, as their actions are not affiliated with Pi Network, and could result in substantial loss or damage to Pi users1.
Pi Network plans to launch its Mainnet and open its network to the public in 2024, after completing the testing and auditing phases. Once the Mainnet is launched, Pi users will be able to transfer their Pi coins from their mobile wallets to their desktop wallets, and then trade them on authorized crypto exchanges.
Pi Network will announce the details of the Mainnet launch and the exchange listing on its official website and social media channels.
To learn more on how you can use this method see this guide: Pi Network Blockchain Now Connects to Visa and MasterCard for Seamless Purchases with Metadata Integration
Tips and Warnings
Before you decide to cash out your Pi coins, here are some tips and warnings to keep in mind:
- Always do your own research and due diligence before using any third-party platform or service. Read the terms and conditions, reviews, and ratings of the platform or service. Check the reputation and credibility of the platform or service. Avoid scams and frauds that may try to steal your Pi coins or personal information.
- Always use a secure and trusted payment method. Preferably, use a payment method that offers buyer and seller protection, such as PayPal. Avoid using untraceable or irreversible payment methods, such as Western Union, MoneyGram, or gift cards.
- Always verify the identity and authenticity of the buyer or seller. Ask for proof of payment and proof of Pi coins. Use a trusted escrow service or a smart contract to ensure the security and fairness of the transaction. Do not send or release your Pi coins or payment until you are sure that the transaction is completed and confirmed.
- Always keep your Pi coins and personal information safe. Do not share your Pi Network password, PIN, or recovery phrase with anyone. Do not click on any suspicious links or download any malicious software. Do not access your Pi Network account or wallet from public or unsecured devices or networks.
- Pi Network was still in its testing phase, and PI tokens were not officially listed on any major cryptocurrency exchanges for trading. The Pi Network team was working towards the next phase of development, which could potentially include official listings on cryptocurrency exchange. Although we have some that already listed the pi Network. Check them out her Top 5 Platforms For Selling Pi Network Coin IOUs.
Conclusion
Pi Network is a social cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining battery or harming the environment. It also offers a developer platform where users can build decentralized applications with Pi coins. The live Pi price today is $31.01 USD per coin, according to CoinMarketCap.
If you want to cash out your Pi coins in 2023, you have some options to choose from, such as selling Pi coins on Pi Exchange, converting Pi coins to PayPal, or trading Pi coins on crypto exchanges. However, each option has its own advantages and disadvantages, risks and rewards, fees and charges. You should always do your own research and due diligence before using any third-party platform or service, and follow the tips and warnings to keep your Pi coins and personal information safe.
I hope this blog post was helpful and informative for you. If you have any questions or feedback, please leave a comment below. Thank you for reading and happy mining! 😊
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