Sell Pi Coins: Top 4 Amazing Factors

Sell pi coins

Sell Pi Coins

It is a cryptocurrency that is still in development and not yet listed on any exchange. However, some people are selling and buying through peer-to-peer platforms or IOUs. The price varies depending on the supply and demand of the market, but it is estimated to be around $30-$40 per Pi coin as of December 2023.

If you want to sell your Pi coins, you should be careful of scammers and fraudsters who might try to cheat you or steal your coins. You should also be aware of the legal and tax implications of selling in your country. It is not yet an official currency and its value is not guaranteed by any authority. Selling is a risky and speculative activity that you should do at your own discretion

Who created this?

It was created by a team of Stanford graduates with backgrounds in blockchain and social computing, according to the project’s website The team consists of Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, and Vince McPhilip. They launched the Pi Network app on March 14, 2019, which is also the Pi Day. Their vision is to build a more inclusive and accessible cryptocurrency that can be used in everyday transactions

Current value

The current value of is not fixed, as it is not yet listed on any official exchange. However, some unofficial platforms and third parties are trading or IOUs based on supply and demand. According to one of the sources, the live price of this is $32.39 per (PI / USD) with a 24-hour trading volume of $227,885.10. However, this price may vary depending on the platform and the market conditions. Please note that is still in development and its value is not guaranteed by any authority. Trading it is a risky and speculative activity that you should do at your discretion.

The technology behind the Pi coin

It is a cryptocurrency that uses the Stellar Consensus Protocol (SCP) as its consensus algorithm. SCP is a decentralized, energy-efficient, and scalable protocol that allows the network to reach agreement on the state of the blockchain without requiring intensive mining or staking1. SCP relies on a network of nodes, each with its trust relationships, to form quorum slices that validate transactions and prevent double-spending1. SCP was developed by Professor David Mazieres of Stanford University and initially used by the Stellar Network, another cryptocurrency project. It is creators chose SCP because they believe it is suitable for mass adoption and everyday use of digital currency.

Highest price 

According to one of the sources, the highest price of this so far is $307.49, which was recorded on Dec 30, 2022. Comparatively, the current price is -89.80% lower than the all-time high price. Please note that it is still in development and its value is not guaranteed by any authority. Trading is a risky and speculative activity that you should do at your discretion.

Lowest price

According to one of the sources, the lowest price paid for this so far is $0.055859, which was recorded on Nov 28, 20191. Comparatively, the current price is 56,296.50% higher than the all-time low price1. Please note that it is still in development and its value is not guaranteed by any authority. Trading is a risky and speculative activity that you should do at your discretion.

Is It Legal Trade?

According to the State Bank of Pakistan (SBP), the central bank and monetary authority of the country, no entity is currently licensed or authorized by SBP to offer money remittance services and products in Pakistan using virtual currencies/coins/tokens.

his means that trading Pi coins or any other cryptocurrency in Pakistan is not regulated by the government and may involve legal and financial risks. Therefore, you should be careful and do your research before engaging in any cryptocurrency transactions in Pakistan.

You should also be aware of the tax implications of your cryptocurrency activities, as the Federal Board of Revenue (FBR) may require you to declare and pay taxes on your income from cryptocurrency trading2. Trading Pi coins or any other cryptocurrency in Pakistan is a risky and speculative activity that you should do at your discretion.

How can I secure it?

Securing your Pi coins is important to prevent losing them or having them stolen by hackers or scammers. There are a few steps you can take to secure your Pi coins, such as:

  • Choosing a reputable wallet: A wallet is a software or hardware device that stores your Pi coins and allows you to send and receive them. You should choose a wallet that is compatible with Pi coin, has a good reputation, and offers security features such as encryption, backup, and recovery.
  • Securing your wallet with a unique password: You should create a strong and unique password for your wallet and never share it with anyone.  You should also change your password regularly and avoid using the same password for other accounts or services.

Storing your Pi coins in a secure location: You should store your Pi coins in a safe and secure location, such as a cold wallet or an offline device, that is not connected to the internet or susceptible to hacking or theft. You should also keep your backup and recovery information in a separate and secure location, such as a safe or a lockbox.

These are some of the best practices for securing your Pi coins. However, you should be aware that the Pi coin is still in development and its value is not guaranteed by any authority. Trading Pi coin is a risky and speculative activity that you should do at your own discretion.

Recovering your Pi coins if you lose your device depends on whether you have backed up your wallet or not.        

If you have backed up your wallet, you can restore it on a new device using your recovery phrase or your private key. However, if you have not backed up your wallet, you may not be able to recover your Pi coins, as they are stored on the blockchain and not on your device. Therefore, it is very important to backup your wallet and keep your recovery information in a safe and secure place. Please note that the Pi coin is still in development and its value is not guaranteed by any authority. Trading Pi coin is a risky and speculative activity that you should do at your own discretion.

How can I avoid fraud from selling pi coins?

Selling Pi coins is a risky and speculative activity that you should do at your own discretion. However, if you decide to sell your Pi coins, you should follow some precautions to avoid fraud and scams. Here are some tips based on the web search results I found:

  • Only sell to reputable individuals or exchanges. Be wary of online offers that seem too good to be true or ask for your Pi wallet credentials. You can verify the identity and reputation of potential buyers through their social profiles and reviews.
  • Use a wallet that is secure and safeguard your private keys. A wallet is a software or hardware device that stores your Pi coins and allows you to send and receive them. You should choose a wallet that is compatible with Pi coin, has a good reputation, and offers security features such as encryption, backup, and recovery43 . You should also create a strong and unique password for your wallet and never share it with anyone.

These are some of the best practices for avoiding fraud when selling Pi coins. However, you should be aware that the Pi coin is still in development and its value is not guaranteed by any authority. Trading Pi coin is a risky and speculative activity that you should do at your own discretion.

Future of Pi Coin

Future of Pi Coin

The future of Pi coin is uncertain, as it is still in development and not yet listed on any official exchange. However, some sources have made predictions based on the project’s vision, popularity, and potential.

According to one source, Pi coin could be worth $2 by the end of 2022 and $5 by the end of 2023, if new use cases are developed for Pi coin1. Another source predicts that Pi coin could reach $0.009 by the end of 2022 and $0.015 by 20252.

However, these predictions are not guaranteed and may change over time. The value of Pi coin depends on many factors, such as the launch of the main net, the listing on major exchanges,

The adoption by users and merchants, the competition from other cryptocurrencies, the legal and regulatory environment, and the overall market sentiment. Therefore, trading Pi coins is a risky and speculative activity that you should do at your discretion.

Some factors that affect the value of Pi coin are:

  1. The launch of the mainnet: Pi coin is still in development and not yet listed on any official exchange. The launch of the main net, which is expected to happen in 2024, will enable the transfer and exchange of sell Pi coins on the blockchain. This will also allow the network to test its security, scalability, and usability. The mainnet launch could increase the demand and value of Pi coin, as well as its credibility and legitimacy in the crypto market.
  2. The adoption by users and merchants: Pi coin aims to become a widely used and accessible cryptocurrency that can be mined and spent by anyone with a smartphone. The network has already attracted over 35 million users who mine Pi coins through the app. However, the network also needs to attract more merchants who are willing to accept Pi coins as a payment method for goods and services. The network plans to launch a Pi app platform that will enable developers to create apps that use Pi as a currency. The adoption by users and merchants could increase the utility and value of Pi coin, as well as its network effect and popularity.
  3. The competition from other cryptocurrencies: Pi coin is not the only cryptocurrency that aims to make mining and spending easier and more accessible. There are other projects, such as Electroneum ( ETN ), Phoneum ( PHT ), and Bee Network ( BEE ), that also use mobile apps and devices to mine and use cryptocurrencies34. These projects could pose a threat or a challenge to Pi coin, as they may offer similar or better features, benefits, or incentives to users and merchants. The competition from other cryptocurrencies could affect the demand and value of Pi coin, as well as its market share and innovation.
  4. The legal and regulatory environment: Pi coin is not yet an official currency and its legal status varies depending on the country. Some countries may prohibit or restrict the trading of Pi coins or impose taxes on the income from selling Pi coins. These legal and regulatory issues could affect the availability and accessibility of Pi coin, as well as its risk and reward profile124. The legal and regulatory environment could also influence the perception and trust of users and merchants towards Pi coin, as well as its reputation and legitimacy124.

These are some of the factors that affect the value of Pi coin. However, you should be aware that the Pi coin is still in development and its value is not guaranteed by any authority. Trading Pi coin is a risky and speculative activity that you should do at your discretion.

Summary

In short, selling Pi coins is a risky and speculative activity that you should do at your discretion. The current methods of selling Pi coins are:

  • Peer-to-peer transactions: You can set your price and sell Pi coins to other users online or offline, but you may encounter fraud or scams.
  • Direct spending: You can use Pi coins to buy goods or services from participating merchants, but the options are limited.
  • Trade Pi Coin IOUs: You can trade IOUs that represent future Pi coins on some exchanges, but they are not the same as actual Pi coins.

Alternatively, you can wait for the launch of the open manner and the listing of Pi coins on major exchanges, which may offer a more secure and conventional trading environment. However, the value of Pi coin is not guaranteed by any authority and may change over time.

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