Pi Coin is Finally here: the long awaited hero

Its here after 6 years of wait

Pi Network officially opened to external trading on Thursday, February 20. This comes after years of anticipation.

Pi Coin is a cryptocurrency that uses the Web3 ecosystem and allows the registered members of its network to mine coins for free without the energy-intensive methods that other cryptocurrencies use.

As of now, it claims a network of over 60 million members worldwide and was founded in 2019 by Nicolas Kokkalis and Chengdiao Fan, both Stanford Ph.Ds.

Multiple centralized exchanges have confirmed their support for Pi Coin, including OKX, Bitget, Bitrue, HTX, and BitMart. All of them will list the token at launch.

On top of this, Bitget has also announced a $60,000 Pi airdrop pool for eligible users, which will go on until March 3, and BitMart will offer a $3,000 USDT Pi giveaway to 300 selected users.

The Open Mainnet will go live at 8 am UTC, which translates to 1:30 pm IST in India.

This will end the enclosed mainnet phase, which began in December 2021, allowing the coin to be traded on major exchanges.

However, crypto exchange Binance took a different approach to the other exchanges by holding a rare community vote to determine if Pi Network should be listed. The results of this are expected on February 27, 2025.

Some exchanges like HTX have also recently delisted Pi Network’s IoU (I Owe You) token, resulting in a price drop of over 50%. This token was used by traders to speculate on Pi’s value before its official launch.

Despite all this, Pi Network has surpassed 110 million installations, with an average of 110,000 new downloads per day. It currently ranks number 4 in the Social category on the Google Play Store.

Pi Coin, which recently surged to $92, has plummeted by 55%, now trading around $30, according to a Fortune report.

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What is Pi Network?

Pi Network is a blockchain-based digital currency initiative founded by Stanford Ph.Ds Nicolas Kokkalis and Chengdiao Fan in 2019. It aims to make cryptocurrency accessible to everyone through mobile mining, a process that does not require energy-intensive Proof-of-Work (PoW) mechanisms like Bitcoin.

With over 60 million engaged members, Pi Network has built a massive user base. The project enables users to mine Pi Coins on their smartphones without technical expertise or specialized hardware, making it one of the most user-friendly crypto ecosystems.

Exchanges Supporting Pi Coin

Several centralized exchanges, including OKX, Bitget, Bitrue, HTX, and BitMart, have confirmed their support for Pi Coin and will list the token at launch. These listings provide liquidity and accessibility for traders looking to buy or sell Pi Coin on the open market.

Additionally, Bitget has announced a $60,000 Pi airdrop for eligible users, running until March 3, while BitMart is offering a $3,000 USDT Pi giveaway for 300 selected users.

Binance Community Vote on Pi Coin Listing

Unlike other exchanges that have confirmed their listings, Binance, the world’s largest cryptocurrency exchange, has taken a different approach. Binance is conducting a community vote to decide whether Pi Coin should be listed on its platform. The results of this vote are expected on February 27, 2025. If approved, it could significantly boost Pi Coin’s adoption and market value.

Impact on Pi Coin’s Price

Following its external trading debut, Pi Coin saw a dramatic price movement. The token initially surged to $92 before plummeting by 55%, currently trading around $30, according to a Fortune report. This volatility is not uncommon for new cryptocurrency launches, as market demand, speculation, and liquidity all play significant roles in price fluctuations.

Adding to the price swings, some exchanges, such as HTX, recently delisted Pi Network’s IoU token. This token was used by traders to speculate on Pi’s value before its official launch, and its removal led to a significant price drop of over 50%.

Pi Network’s Growing Adoption

Despite recent price volatility, Pi Network continues to gain traction globally. The project has surpassed 110 million installations, with an average of 110,000 new downloads per day. It also holds a strong position in the Social category on the Google Play Store, currently ranking fourth.

How to Create and Use a Pi Wallet

If you want to create an account to mine and store Pi coins in 2025, you just have to follow these easy steps.

1. Go to Apple store/Google play store and Download the Pi Browser app.

2. Set up your wallet by following the instructions on the “wallet.pi” page.

3. Securely store your passphrase as losing it means losing access to your wallet.

4. Once your balance is migrated to the Mainnet after KYC verification, you can use your wallet for transactions within the network.

How to Mine Pi Coin – Step-by-Step

Want to start mining Pi Coin? Follow these simple steps:

1. Download the Pi Network App

Find the official Pi Network app on the App Store or Google Play Store. Download it and create an account using your email or phone number. To avoid scams, stick to the official app.

2. Set Up a Pi Coin Wallet

You’ll need a wallet to store your Pi Coins securely. The Pi Network app provides an in-app wallet you can use. Once the mainnet launches, this wallet will store your coins for transactions and exchanges.

3. Start Mining Pi Coin

If you want to mine it faster then click the referral link and activate it to join the inner circle which enables you to mine it fast.

To claim your Pi, follow this link https://minepi.com/greekgodsid and use my username (greekgodsid) as your invitation code.

Open the app daily and tap the mining button to activate your session. Pi uses a consensus algo instead of the energy-hungry proof-of-work systems used by Bitcoin. This method is lighter on resources, so your phone won’t overheat or drain its battery.

How to Sell Pi Coin on an Exchange

Until now, selling Pi Coin meant using IOUs or peer-to-peer exchanges with other pioneers. However, all that is set to change this week: Pi Network’s mainnet launch means Pi Coin will be listed on crypto exchanges. Here’s how to sell your Pi Coin after the launch:

1. Pick a Crypto Exchange

Start by choosing an exchange that lists Pi Coin. Popular platforms like Binance, OKX, HTX, or MEXC might add it depending on its market demand. Check if the exchange supports trading pairs for Pi, such as PI/USDT or PI/BTC.

2. Create an Account

Register on the selected platform. Provide your email, set a password, and complete identity verification. Verification often requires a government-issued ID.

3. Deposit Pi Coins

Transfer your Pi Coins from your Pi Network wallet to your exchange wallet. Go to the deposit section, select Pi, and copy the wallet address. Use this address in the Pi app to send your coins. Double-check wallet details to avoid errors.

4. Place a Sell Order

Navigate to the trading section, select the Pi trading pair you want, and choose “Sell.” Set your price or use the current market rate. Enter the amount of Pi you want to sell.

5. Receive Payment

Once a buyer matches your order, the exchange completes the trade. You’ll receive the payment in the currency you choose (USDT or BTC), which you can withdraw from your bank account or wallet.

This process will be similar to selling other established cryptocurrencies.

The Road Ahead for Pi Network

As Pi Network moves forward with its Open Mainnet, many questions remain regarding its long-term value, regulatory status, and real-world adoption. However, with growing exchange support and an expanding user base, the project continues to gain attention in the crypto space.

With Binance’s community vote coming up and further exchange integrations likely, the coming months will be crucial for Pi Coin’s evolution. Investors and users alike will be watching closely to see how the cryptocurrency’s ecosystem develops in the open market.

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