I initially started mining Pi Coin for some months now and since the time I joined the project, day after day in the Pi Chatroom and other social media platforms are asking about how to withdraw Pi Coin and how to exchange it into a fiat currency like PHP, USD and EURO and so on.
So in this article I will be telling you if and how you can withdraw your Pi Coin and exchange them into real currency. Let's learn how to withdraw your Pi.
How can you withdraw your Pi coins?
The answer to this is currently you can't withdraw your Pi coins because Pi is currently in Phase 2 out of 3 phases.
It means that it's not a full crypto currency yet and it's not listed on any exchanges.
At the moment you still can't do anything with your Pi coin. You can't still transfer it all and what you should basically do is mine it for free.
Think of it like the early Bitcoin days when people mined thousands of bitcoins from their computers but they actually couldn't use it for anything.
Does that mean that Pi is useless and worthless to mine at all?
No, it means the exact opposite. You're among the Pioneers and among the first couple of million users that signed up for Pi and as a token of appreciation and to build an active community and a certain amount of Pi in circulation, you currently received Pi for free.
Other people will eventually not be able to get their coins for free anymore. So it's important that you take advantage of this opportunity and just simply spent a couple of seconds everyday to open the Pi application and push the mining button and come back after 24 hours and receive your free Pi coins everyday.
When will Pi have an actual value?
Pi will achieve a real value once it can be traded on exchanges like Binance, Crypto.com and so on. That will happen once Pi reach Phase 3.
It is possible that Pi will be tradable at the end of the year or probably next year or even longer.
How much is Pi coin going to be worth?
That is something that nobody can answer right now because it depends on a lot of different things.
The longer the free mining continues, the more Pi will be in circulation means more supplies and that would mean each coin would be worth a little bit less.
Just because Pi will be listed on an exchange it doesn't mean that it's smart to sell your Pi coins from day 1.
If you sell it right away then there will be nobody to buy the coin then the price might instantly falls down and some people might not be able to sell their coin anymore.
You may want to sell some of your Pi coins instantly to get some money but you also want to keep some of them long-term.
Just for example that Bitcoin was worth from almost nothing from its release but years passed it came up to its highest value of more than $12,000 and currently on making this article its value is nearly $13,000.
I'm not saying that Pi coin will be worth like Bitcoin because again it depends on supply and demand and how people use Pi in their daily lives.
To sum things up;
Currently it is still not possible to sell your Pi coins or withdraw money from the Pi wallet.
Pi is not worthless.
The longer you mine, the more coins you get and the more money you will actually have when Pi achieves Phase 3.
Don't sell immediately all your Pi coin once it is listed on any exchanges but at least keep half or more of it for long-term.
All we have to do when it comes to this kind of projects is to have a longer patience. Because there is a big probability that in the end, our time will be paid off and it will be worthy.
You can download Pi Network app on Google Play or click this link to go directly their : https://play.google.com/store/apps/details?id=com.blockchainvault
I will not be giving my referral because it will go against the policy of @TheRandomRewarder and @Read.Cash
If you want to know how to verify yourself or do the KYC process you can refer to my article: Information on KYC process in Pi Network.
Image sources:
Lead Image: Pi Logo from Google Play
First Image: Fiat Currency Image
Second Image: Pi Logo
Such a spectacular writing 🔥