A network called pi
What is Pi?
Pi is a new crypto currency for and by everyday people that you can “mine” (or earn) from your phone.
Crypto currencies are new form of digital money that are maintained and secured by a community, instead of by governments or banks. Today, you can mine (or earn) Pi by helping to secure the currency and by growing Pi’s trusted network. While most crypto currencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.
How does this app work? How do I earn more Pi coins?
This app allows you to earn Pi coins by making simple contributions to Pi’s community. The more you contribute, the more Pi you earn.
To start earning Pi, check in every 24 hours and hit the lightning button to start mining. Once you are mining, you can boost your hourly rate by inviting trusted friends and family to join the community. After 3 days of mining, you can boost your earnings more by building your security circle, which contributes to the overall security of the network. Keep in mind, earlier members of the network mine at a higher rate than those that come after them.
When will Pi be worth something? When can I turn Pi into “real” money?
Pi’s holders will be able to turn Pi into “real” money when they either purchase goods and services on Pi’s marketplace or exchange Pi for fiat currency. Read less
Cryptocurrency holders have two options for turning their holdings into “real” money (or to “cash out”):
Directly purchasing goods and services with their crypto
exchanging their crypto for fiat currency (e.g., dollars, euro, etc.) on cryptocurrency exchanges.
Directly purchasing goods and services with your Pi. Pi Network is building a peer-to-peer marketplace where our members will be able to directly spend Pi to buy goods and services. We aim to start experimenting with in-app transfers of Pi as soon as Q4 2019.
Exchanging Pi for fiat currency on cryptocurrency exchanges. Pi’s Core Team does not control when cryptocurrency exchanges (like Binance, Kraken etc.) decide to list Pi. However, Pi will be able to be traded in Phase 3 of the project. At that point, exchanges can choose to list Pi. In the meanwhile, Pi’s core team is focused on implementing our technical roadmap (see our white paper) to reach phase 3.
