PI coin and Pi Network gained popularity at a time when the native token was not even available on any trading platform. People often anticipate that any cryptocurrency gaining traction will at least be available on Binance or Kraken.
PI’s mainnet launch has not yet occurred, as the network’s development team currently contemplates integrating with the broader ecosystem.
Understanding the process of buying PI coins is crucial, as the launch of the mainnet may attract several investors eager to participate in their purchases.
Since new users have limited information about the market, they must understand the facts before navigating it. With various PI price predictions indicating future growth, many investors eagerly await the opportunity to buy.
Understanding PI Coin
PI Coin is native to Pi Network. Some of its unique features are mobile mining, user-friendly design, decentralization, security via Stellar Consensus Protocol, and a referral system.
Mobile mining has a unique feature. It essentially eliminates the need for high-end, heavy hardware to mine a token. This allows anyone to participate in token mining and receive rewards. It continues to evolve into a highly accessible function to everyone globally.
Currently, the PI coin is not available for trading on any platform. Crypto enthusiasts are waiting for the mainnet launch. This includes those who already own the token, speculating that its price will surge after the launch.
Prerequisites for Buying PI Coin
There are two prerequisites for buying a PI coin: a crypto wallet and cryptocurrency.
Setting up a Wallet
A crypto wallet helps to store digital currency safely, like a vault, except it exists digitally. Some of the crypto wallets are MetaMask and Ledger.
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Both are known for their utmost safety features. Having a secure wallet is also important because a lack of security features can make it easy for malicious actors to drain all the funds.
A wallet can be created by visiting its website and registering with mandatory details. Some platforms allow users to proceed only after verifying KYC information. The first step is to do thorough research before starting with a crypto wallet.
Acquiring Cryptocurrency
A crypto exchange platform, such as Binance, is the sole source of cryptocurrency purchases. Users may deposit their fiat currencies for BNB, Binance’s native token, which can be exchanged for any other token. Other crypto exchange platforms are Crypto.com, Coinbase, and Bitstamp.
The PI coin may only be acquired using cryptocurrencies such as BNB. As a result, users must have PI in their wallets before purchasing it.
Buying PI Coin Via Decentralized Exchanges (DEX)
Interested users can buy PI coins through any reliable decentralized exchange (DEX) by connecting their wallets to the platform and swapping existing tokens with PI.
Connecting Your Wallet to DEX
Access the DEX and navigate to the profile section. Register first if no profile has been created on the exchange platform. Once navigated or registered, proceed to connect your crypto wallet. Platforms often automatically show pop-ups to connect a crypto wallet. Note that not every crypto wallet may be compatible with a DEX.
Finding and Swapping for PI Coin
Locate the PI coin on the DEX interface or search for it by entering PI in the search bar. This will display the option to swap existing cryptocurrency for PI coin. Paste contract addresses carefully; a single mistake can lead to a potential scam worth millions or billions of US Dollars.
Buying PI Coin via Centralized Exchange (CEX)
The process is similar, except users are required to sell or trade their tokens for PI coins after registering on the CEX.
Using Binance as an Example
Select the Register option to establish an account on Binance and complete the mandatory KYC procedure. This action would complete the profile creation process, enabling users to acquire PI coins.
Selling or Trading PI Coin
Once a PI coin becomes available, select it from the drop-down menu or the list provided by CEX to acquire the token. The same process can be used to trade or sell PI coins on the platform. Users are only required to modify the primary token in the relevant section.
Alternative Methods to Acquire PI Coin
Two alternative methods for acquiring PI coins are mining and a referral system. Users can access the mobile application to mine the token and get it in their wallets, or existing users can invite them to the community to help earn PI before it is launched on the mainnet.
Future Considerations and PI Price Prediction
PI is currently exchanging hands at $40.64, down by 4.56% in the last 24 hours. It is estimated to reach $132.37 in the next 30 days. This will result in a price increase of nearly 218.55%.
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Various factors, including community growth and market demand, will influence the PI coin’s future price. However, there is widespread speculation that PI could see a significant upward trend.
You should stay updated with information about Pi Network and PI Coin to know when to get on board and when to leave the station. You can stay informed by tracking updates on its official platforms or news channels.
Conclusion
Upon their public launch, DEX and CEX platforms will be accessible to all individuals who wish to acquire PI coins. Until then, the only available methods are mining and referral programs. Continue participating in Pi Network not only for higher engagement but also for better development of its ecosystem.