Pi Network - How To Withdraw Pi Coin - How To Exchange Pi Coin

 Pi Network - How To Withdraw Pi Coin - How To Exchange Pi Coin

Hello, I'm going to tell you if and how you can withdraw your Pi coins or how you can exchange them into real currency.

my invitation code for www.minepi.com:

And the reason why I want to talk about this is that since I initially started mining PI in August 2020, so not that long ago, I've invited a couple hundred users to Pi, as you can see on the screen right there.

And since then, the number one question that I've seen day after day in the Pi chats is people asking how to withdraw PI, so how to exchange their PI coins into a FIAT currency, like US dollar, Euro, and so on.

And I want to point out that its important that you watch this blog to the end, because otherwise, you may end up making it the wrong decision. So let's start with the number one question.

How can you withdraw your Pi coins?

And the answer to that is currently you can not withdraw your Pi coins because Pi is currently in phase two out of three phases. So it's not a full cryptocurrency yet, and it's not listed on any exchanges.

Now, I can hear you asking.So if I cannot withdraw it, what can I do with PI?

At the moment, you cannot do anything with PI. You cannot transfer it. All you can basically they do is mine it for free.

Think of it like in early Bitcoin days when people mined thousands of Bitcoins on their computer, but they actually couldn't use it for anything.

Now does that mean that Pi is worthless or useless and that there is no point in mining Pi at all?

No, it means the exact opposite. You are among the pioneers among the first couple of million users that signed up for PI and as a thank you or as a token of appreciation and also to build an active community, and a certain amount of PI in circulation, you currently receive PI for free.

Other people eventually will not be able to get their coins for free anymore. So it's important that you take advantage off this opportunity and that you simply spent the five seconds every day to open your Pi app and push the mining buttons you mine for another 24 hours, and you receive your free Pi coins every day.

Now assuming you continue mining pie coins, the question is when will Pi have an actual value. So when will you be able to withdraw it and also how much will it be worth now to start with the first question?

Pi will achieve a real value once it can be traded on exchanges like crypto.com, Binance and so on, and that will happen once the PI reaches phase three.

Now, if you want to have a detailed answer, I recommend that you read the white paper that you can find on the PI website. And there's also a link to it in the description down below.

But to provide you with a simplified answer. Currently Pi has roughly 8 million users.So that's 1 million more since I joined PI in August two months ago.

And the way things look now until PI achieves a total of 10 million users, all pioneers, so all users that sign up right now, will be able to mine free Pi coins and receive free coins every day for pushing a button.

Now, in addition to the 10 million user limit that may change, we will see about that in the future. There is also the fact that the PI developers need to finish some of their work so that the nodes are tested and so on.

And that everything working and to actually turn PI into a fully grown cryptocurrency and have it listed on certain exchanges. So it's possible that Pi will be tradable and exchangeable by the end of the year.

Its also possible, that it will take another year or maybe even longer. The point again is that you currently have a great opportunity to jump in early and get your Pi coins for free without risking anything.

All you have to do is open your Pi up once per day on your phone and push the lightning bolt button, so you mine for another 24 hours. Ideally, if you want to earn more Pi per hour. Youll tells your friends and family about it and has them use your invitation code.

So you actually end up earning more Pi while you can still get it for free. 

And to answer the second part of the question, how much is PI going to be worth?

That's something that nobody can answer you right now because it depends on a lot of different things. The longer the free mining continues, the more Pi will be in circulation. So, therefore, there will be way more supply, which would mean each coin will be worth a little bit less.

To provide you with a different example, we can look at the Tesla stock in 2020.

During March, it fell to roughly $300 per stock. Eventually, it climbed up to over $2,000 per stock, and then the stock was split one to five. So if you had one Tesla stock worth, let's say exactly $2,500 from one day to the other, you had five Tesla stocks, but each was only worth $500.

So that would be a simple example of how the supply of something in this case, 

Tesla stocks, but in our case, PI coins will have an effect on the market. Now another thing that's important to understand this just because will be listed on an exchange, doesn't mean that its smart to sell your Pi coins on day number one. 

Again, if we go with the Tesla stock example, imagine that somehow you got one Tesla stock per day for free by pushing a button in the app, but you cannot sell it right now. 

You and hundreds of millions of other users, get free Tesla stock every day. And let's say on the 1st of January, you will be allowed to trade it. If now on the 1st of January, everybody tries to sell their stock. There will be nobody there to buy all that stock and the price will instantly fall from $500 per stock to $1 per stock or $2 per stock. 

And the same would happen with Pi coins. The moment Pi achieves phase three and you can exchange and trade it on platforms like crypto.com and Binance, there will be a set upon or agreed-upon price. 

And if then everybody just tries to sell it. Nobody will be there to buy. 

So some people may not be able to sell it at all. And for the other people, the price will plummet instantly. So it's not the smart thing to do. 

You have to see Pi for what it is and what it is, it's a great opportunity to get a lot of free Pi coins that you can then use longterm. Yes, when PI launches, you may want to sell some of your Pi coins instantly to get some money, 

but you also want to keep some of the longterm. Again, let's take Bitcoin for an example here. Initially, Bitcoins were worth almost nothing. Then they eventually were worth $1, $2, $10, a hundred dollars, $300.

Nowadays we're looking at a Bitcoin value of more than $10,000 per coin. Now imagine you would have gotten 500, 5,000 or more Bitcoin for free when it initially started. And you sold everything on day one for two or $3, you would probably regret it a lot today. 

And the same applies to Pi. Now I'm not saying that Pi will be worth $10,000 per coin because that, again depends on supply and demand and how people use Pi in their daily lives. 

If everybody just holds their Pi coins and nobody willing to sell them, it's also not great. The key is that once Pi achieves phase three, you look for how you can use it. Is there an online store that accepts Pi as a payment method?

Well, and maybe use it to buy your next iPhone or you order a pizza online or something like that, to give it a real purpose in our lives. Use it to send money to friends. So instead of sending them a regular wire transfer, send them Pi coins and they can then cash them out, for example. So to give Pi a real purpose in this world, and with that, you will help increase the value of PI, which again, will increase the value of the remaining Pi coins that you have left after sending a couple hundred coins to a friend,

 for example. So to sum things upright. Currently, it's not possible to sell your PI coin or withdraw the money from your wallet,

 but that does not mean that Pi is worth less than that you should not mine.It means the exact opposite the longer you mine now, and the more coins you get, the more money, you will actually have once PI achieves phase number free, 

but you definitely should not give away all your Pi coins once it's possible, but you should keep at least half or even more your Pi coins the long term to benefit from an increased value over the next couple of years. 

Now last but not least. You may also want to check out the blog I published recently. I'm going to put it in the card up here where I answer a couple of other very common Pi related question.

So you actually know what you're getting into. As always, thanks for watching. See you in one of my other blogs until then. Bye-bye.