How to Buy Pi Coin in India
The Pi coin is special due to several reasons. It is not only the first digital currency that can be mined from a phone but also its breakthrough technology makes the mining experience enriching, inexpensive, and hassle-free. Despite being so rare and unusual, Pi is presently not available anywhere. However, one can obtain Pi coin only via mining as it has not yet been listed on any cryptocurrency exchanges in India or anywhere else.
What is a Pi Coin?
This coin was introduced as a part of the Pi network project. The main aim of the project was to allow the general public to be a part of cryptocurrency mining, which, until now, was only reserved for people who had advanced crypto mining rigs. To make mining more accessible for all, a team of three graduates from Stanford University developed an application that would allow individuals to mine pi coins from their smartphones.
One can also validate the transactions through the PI app. Unlike other decentralized digital currencies like Bitcoin which run on the Proof of Work model, the Pi network functions on the SCP or Stellar Consensus Protocol. Only a group of trusted nodes or groups can validate the transactions on the ledger.
Key Features of Pi Network
Working of Pi App: The Pi Network app has a lightning button that the users tap to mine Pi. There is also a 24-hour countdown, when it finishes, the user needs to tap the button to continue mining. The user is not supposed to leave the app as all it takes is opening the app and tapping the button after every 24 hours.
Pi’s Popularity: As per Coinmarketcap, the Pi network has a more than 35 million engaged user base and an innovative mining mechanism that allows anyone to mine Pi straight from their smartphones. Pi strives to fetch power back to the masses and secures transactions via a mobile system, which is backed by web 3.0 experience.
Pi Network: The best part about the PI network is that it is easily accessible, configurable, which is also error-free, and flexible. This network is completely decentralized and has no particular single owner.
Unique Ecosystem: The pi network has a rare network ecosystem, which even allows non-GPU users to perform mining via their smartphones. This ecosystem is backed by a wide range of technologies operated by several social communities.
Mobile Mining: Pi coin is a pioneer in bringing the revolution in mining as it can be done very easily from your mobile.
Strong Referral System: Pi network runs a very robust referral system that allows users to generate cash and appeal to additional users. For this, the app has advertisements and a referral system.
What are the Uses of Pi Coins?
The uses of Pi cryptocurrency are still unclear at this point in time. Developers of the network have plans to release the blockchain, the PI browser as well as Pi wallet. However, it is still in progress with no concrete information about its release date or when it will get listed on the crypto exchanges.
Pi coin miners and crypto enthusiasts from all over the world are hoping for its early launch. Once the trading of these coins starts, there will be greater interest generated, which will lead to more innovations on the Pi network.
How to Buy Pi Coin in India
You must register for an account with a cryptocurrency exchange in India in order to trade or sell Pi coins. Despite India’s rough stance on a cryptocurrency exchange that leaves many in the dark, you may purchase Pi coins and trade them for any other cryptocurrency on multiple exchanges.
To keep track of PI transactions, you may also download the Pi coin wallet app from the Google Play store. However, as PI is still in the testing stage, purchasing it is not an option. In the third phase, when Pi transitions to a fully decentralized blockchain, users who have mined Pi can transfer or withdraw their money.
When the Pi Network opens up and is released to the public, which should be sometime between mid-2022 and 2023, you will likely be able to purchase it on multiple cryptos exchanged as the crypto coin is especially popular in India due to its simplified, cheap, and convenient mining ability.
Here are some steps that one must follow to get Pi coins in India:
- Step 1: Download the Pi Network application on your smartphone.
- Step 2: Sign up with your Facebook account or mobile number.
- Step 3: Complete the registration by correctly filling up your profile details. After submitting the details, you will be sent an invitation code by a Pi coin user.
- Step 4: Enter the invitation code to join the Pi network.
- Step 5: You will get access to the dashboard where you will receive one Pi coin as a joining reward.
How does the Pi app function?
Here are the instructions to learn how to buy pi cryptocurrency:
Simply by making a payment to the PI organization, this initiative helps the construction of PI. The larger your contribution, the more PI you will get.
To begin earning PI, log in once every 24 hours and then click the lightning button symbol to begin mining for the cryptocurrency. After you’ve begun collecting, you may raise your hourly rate by enlisting the help of dependable family and friends to help you find a community.
You may boost your profits by contributing to your safety ring after three days of earning, which will assist to reinforce the platform’s security architecture.
It’s important to remember that people who join the chain initially accumulate more quickly than those who join later.
Pi Network is a new cryptocurrency created for and by regular people, which you can “mine” (or earn) using your smartphone. The Pi Network is a cryptocurrency that was created for and by ordinary people.
Cryptocurrencies are a new kind of digital currency that is administered and safeguarded by a community rather than a government or financial institution.
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