If everything goes according to plan, the team could open the 4 ways to acquire bitcoin mainnet as soon as 2024, but a 2025 release date is more likely. For those who prefer not to engage in selling, Pi coins can be directly used to purchase goods and services from participating merchants. Some businesses accept Pi as payment for various products and services, expanding its practical utility.
How to Sell Pi Coins in 2024? A Detailed Guide
In this guide, you’ll find four proven ways of selling Pi Coin while it still hasn’t hit major exchanges. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place.
- As a bit of a sidenote here, I do also want to point out on thing – there are A LOT of copycat projects and coins with similar names out there.
- However, this limitation doesn’t leave Pi coin holders entirely without options for selling their coins.
- As a result, its creators hope that it will become the world’s most widely distributed cryptocurrency.
- The developers are also working on two marketplaces and a decentralized app store that will use the token.
- Notably, there have been instances where even larger purchases, such as a car, were facilitated through Pi payments, as reported on the Pi Core team’s official social media.
- While the present article gives you an insight into how to sell Pi coins, the blunt truth is that it is not yet ready for sale.
Once your Pi crypto has been deposited into your exchange account, you can now place a sell order. Go to the trading section of the exchange and select the Pi trading pair you wish how to add virtual card to google pay to use (e.g., Pi/USD or Pi/BTC). You can choose to sell at the current market price or set a limit order if you want to sell at a specific price. To be a bit more specific, you know why you can’t do it right now, as well as how the process might look whenever the asset becomes available to be publicly traded, on either centralized or decentralized exchange platforms.
Await exchange listing
Since the project is still in the enclosed network phase, the mainnet hasn’t yet been linked with any exchange, nor is the token listed. Thus, you can’t trade Pi Coin on exchanges like Binance, Coinbase, or similar platforms for other cryptocurrencies. Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market. It’s essentially a huge community of people around the globe, all “mining” Pi coins on their mobile devices (naturally, as with most other projects1, the network was started by a centralized business entity).
Step 5: Confirm the Sale
As soon as that happens, users can trade Pi coins for fiat currency or cryptocurrencies on exchange platforms. Selling Pi coins in 2024 requires careful consideration, especially given the network’s evolving status. Whether you choose could bitcoin reach the price of $100k in 2021 to sell peer-to-peer, trade IOUs, spend your Pi on goods and services, or wait for it to be listed on a major exchange, each option has its pros and cons.
Step 1: Find a Reliable Exchange
This method allows you to use Pi as a currency rather than trading it for fiat or other crypto. While the Pi economy is still developing, it’s a practical use case for those looking to derive immediate value from their Pi coins. Be mindful that IOUs can fluctuate in value, especially as the Pi Network’s mainnet launch or exchange listing approaches. Consider this option only if you are comfortable with the risks of speculation and potential delays in Pi’s full launch. Pi Network’s developer platform also offers numerous qualities that may interest developers. Its App Engine uses an operating system similar to Apple’s iOS, with a secure blockchain component.
As the Pi mainnet will be launched and the Pi token will be getting listings on the exchanges, more opportunities to utilize and trade your Pi coins will appear. Pi coins are still not listed on popular crypto exchange platforms. However, one can always trade IOUs (Interest-Bearing Obligations) for other fiat currency or cryptocurrencies. IOUs are unofficial agreements accepting debt which can be traded either through the Pi network or through other private agreements with users. Selling Pi Coin can be done in various ways, but the most common method is through an online cryptocurrency exchange platform.
So be aware that scammers may trick you into sending Pi coins without paying. In-person meetings are less prone to scams and should be held in areas with security cameras. If you research crypto communities or social media, you’ll find traders looking to buy Pi Coin. Their demand and your offering create opportunities for peer-to-peer trading (P2P).
With all of its shocking popularity, you’d think that the coin would be listed on all of the top-rated exchanges on the market, such as Binance or Kraken. That’s actually not the case – even more so, Pi isn’t even available to be traded via DEXs, either. Another key tip for selling Pi Coins successfully is to be patient. It’s important not to panic-sell during price dips because this can result in significant losses. Once that price is reached, the sell order will be executed automatically by the exchange. This type of order gives more control over selling prices and can lead to higher profits if done correctly.
Obviously, looking at how to buy & sell Pi coins via a centralized exchange, you’ll probably notice rather quickly that the process is far easier than it’d be doing it via a DEX. Just like buying products and services using fiat currency, Pi can be directly spent on goods and services. The only challenge in this process is to find a platform or merchant who agrees for Pi as a currency in exchange for their product.