So, you’ve been hearing about the Pi coins and you’re wondering what is. Don’t worry we’re going to tell you all about the pi coins and how to purchase some especially if you’re a beginner.
What is Pi coins
Pi coin is a new form of cryptocurrency launched in March 2019. The coin which runs on the Pi network was developed by a team of Stanford graduates and is termed as being environmentally friendly. This is because they consume less energy compared to other cryptocurrencies. The coin is designed to undergo halving just like any other cryptocurrency meaning the number of coins a miner receives is reduced by half when a new transaction is processed.
How to mine Pi Coins
The coins can be mined on a user’s phone by downloading the app on the google play store. Due to the fact that the coins are eco-friendly, one can mine pi coins on the phone without having to worry about your battery going low. The coins are available for free and can be accessed through an invitation code from a trusted member. For security reasons, one has to sign in to the app on a daily basis before using it. You will also be required to confirm that you are not a robot. The app has a group of Pioneers and Ambassadors. Pioneers are new users who have to confirm they are not robots by signing in frequently. Ambassadors on the other hand can send referral codes for others to join.
One can increase the number of pi coins by mining on a daily basis and sending referrals to other people to join. They can neither be converted into cash nor other cryptocurrencies. They can however be transferred and withdrawn. The pi wallet and browser are yet to be accessible which can be used to store the currency. The currency has not yet been listed anywhere but there are speculations about its value in the near future. When downloading the app one has to give their full name and phone number which makes people have questions about its security.
Where to purchase
The cryptocurrency can be purchased on the following platforms:
Etoro is considered a user-friendly interface that is good for beginners. It is a commission-free site that trades in Pi coins together with other cryptocurrencies.
Coin base is considered the best trading interface for beginners that supports a number of cryptocurrencies.
Pi coins seek to promote inclusivity by enabling everyday users to be part of the network without having advanced gadgets.