How to Buy Pi Network Coin in India?

Introduction

With so many crypto projects being worked on, standing out in the crowd is a tough competition. What makes the token of the blog stand out? The Pi coin stands out for several notable reasons. It marks the pioneering achievement of being the first digital currency that can be mined directly from a smartphone. Additionally, its groundbreaking technology ensures that the mining process is both rewarding and cost-effective while also being remarkably user-friendly.

Despite its rarity and uniqueness, Pi is currently unavailable for trading on any crypto exchanges in India or elsewhere. As of now, the only way to acquire Pi coins is through mining.

What is Pi Network Coin(Pi)?

Pi coin is a modern digital currency mined easily using smartphones within the Pi network. Governed by a social community, it stands out with its “stellar consensus protocol,” rewarding users for their contributions. Not available for purchase, Pi coins are solely obtained through mining using the Pi Network app, which also has a referral system for additional rewards.

Launched in 2018, Pi’s initial mining rate of 1.6 Pi per hour gradually reduced as its user base grew, reaching 0.2 Pi per hour with one crore users. In September 2022, the Pi Network introduced “Pi Bridge” to connect with other blockchains like Binance Smart Chain, Ethereum, and Polygon, enabling data and Pi transfers across networks.

Read More: How to Buy Ethereum(ETH) in India?

Points to remember:

• PiCoin uses Proof-of-Work (PoW) technology for smartphone mining.
• The Pi blockchain aims for independent functionality but is still in development.
• Storing PiCoin in a secure wallet, especially a hardware wallet, is recommended for added security.

Key features of the Pi Network

Operation of the Pi App: The Pi Network app functions by enabling users to initiate the mining process with a simple tap on the lightning button. Additionally, a 24-hour countdown is in place, prompting users to tap the button to continue mining when it concludes. It’s important for users to remain within the app, as the only requirement is to open it and tap the button every 24 hours.

Pi’s Popularity: According to Coinmarketcap, the Pi Network boasts an engaged user base exceeding 35 million individuals. It incorporates an innovative mining mechanism that allows anyone to mine Pi directly from their smartphones. Pi Network’s mission is to empower the masses and secure transactions through a mobile system underpinned by a Web3 experience.

Pi Network’s Advantages: One of the standout features of the Pi Network is its accessibility, error-free operation, and flexibility. This network operates in a fully decentralized manner and lacks a single, centralized owner.

Unique Ecosystem: The Pi Network possesses a distinctive ecosystem that permits even non-GPU users to engage in mining through their smartphones. This ecosystem is supported by an array of technologies managed by various social communities.

Mobile Mining Innovation: Pi coin is at the forefront of the mining revolution, as it simplifies the process by allowing mining directly from mobile devices.

Robust Referral System: The Pi Network employs a strong referral system that enables users to earn rewards and attract additional users. This is achieved through the inclusion of advertisements and a referral system within the app.

Learn More: How to Buy Bitcoin(BTC) in India?

How to Buy Pi Network Coins?

Before diving into this segment, it is important to know that PI is not officially listed in any crypto exchange. This means that you will not be able to receive Pi coins in your wallet through the usual methods; it’s going to be only withdrawable or sellable after Phase 3, when it becomes decentralized.

Early adopters accumulate Pi coins by mining the tokens. If you are new to Pi network, you can join the mining via referral codes and track Pi’s progress via monthly updates.

Note: Pi coin operates on decentralization principles like Bitcoin but is only available via the app, not on exchanges.

Conclusion 

As the PI network is currently undergoing its second phase of testing, the value of the token remains uncertain. Once Phase 3 is rolled out, users will have the opportunity to trade it like any other crypto asset.

Considering Pi Network’s performance, the communities and the experts are anticipating that the coin will initially have a modest value against the USD, which is expected to gradually appreciate as adoption rates increase. Based on available data, the PI coin has the potential to make a significant impact on the world of crypto.

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