The Pi coin stands out for several reasons. It’s the first digital currency that you can mine using just a phone. What makes it even more special is its breakthrough technology, which makes mining easy, cheap, and enjoyable. However, right now, you can’t get Pi coins anywhere.
If you want to get a Pi coin, you can only do it by mining because the coin hasn’t been listed on any Indian or foreign cryptocurrency exchanges yet.
What is Pi Network?
The Pi Network is a new digital currency project that aims to follow top crypto standards. Unlike Bitcoin and Ethereum, which are getting more centralized, Pi is designed to be accessible to everyone. It’s run by a team of Stanford graduates and relies entirely on mobile technology.
The project says it lets people mine cryptocurrency on their phones without using up too much battery. Because of this, there’s a lot of speculation about how much the Pi coin might be worth in the future. But since there’s still a lot we don’t know, it’s hard to make accurate guesses about its value.
The first principle of cryptocurrencies, as put forth by Satoshi Nakamoto, the mystery creator of the Bitcoin currency, is intended to be fulfilled by the Pi network, according to its whitepaper. Its goal is to restore the people’s financial power. This is the project’s main driving force.
The Pi network seeks to develop a platform for smart contracts that is user-secured and managed. The Pi utility token will enable the protocol’s goal of creating the most inclusive peer-to-peer (P2P) marketplace ever created.
The project was launched on March 14, 2019, and it has continued to expand since then. Pi Network appears to have accomplished what few cryptocurrency initiatives do: catch the interest of regular users. The current Pi wallet user base is around 35 million people, which is an outstanding figure given that the Pi Coin is still not actually available for trading.
How Does Pi Network Work?
According to the Pi Network’s official website, their goal is to create the most inclusive peer-to-peer ecosystem and online experience using Pi, which they claim is the world’s most widely distributed cryptocurrency. The website also mentions the challenges and risks involved in cryptocurrency mining and investment.
The project ecosystem is diverse: it includes features such as Pi Chats, Fireside Forum, and Brainstorm app, focusing on fostering a Web3 ecosystem and enabling community collaboration.
Users within the Pi Network take on various roles:
- Pioneers are regular mobile app users who engage in mining sessions.
- After participating in certain activities, users can become Contributors, which enhances their mining rate.
- Ambassadors increase their mining rate by inviting friends to join the network.
- Nodes are users who run computer nodes. They contribute to the network’s stability and receive rewards for their efforts.
Mining Pi Coins is made possible through an energy-efficient process that doesn’t drain the phone’s battery. The network utilizes a trust-based mechanism, which is a part of the Stellar Consensus Protocol (SCP), to secure its ledger.
The Pi Network aims to make cryptocurrency accessible to everyone, focusing on building a decentralized and inclusive digital community. It clarifies that its referral program is not multi-level marketing since it doesn’t involve fiat money and is limited to one level of referral, ensuring fairness and mutual benefit.
Pi Network Price
The Pi coin currently doesn’t have any real value, and you won’t find any historical data about its performance because it hasn’t been officially launched on any cryptocurrency platforms yet.
As of now, the price of Pi is $29.77 per (PI/USD), which is approximately INR 2,477. The current market capitalization is $0, and the circulating supply is also zero because the Pi network hasn’t disclosed the number of coins in circulation, and the maximum supply is unspecified.
According to the Pi Network website, users will be able to withdraw or exchange Pi coins with other currencies in the third phase of its roadmap, which will happen when the main net launches. However, as of now, no formal launch date has been announced. The company has specifically mentioned that “Pi is currently in the enclosed network and is not approved by Pi Network for listing on any exchange or for trading, and Pi Network was not involved with any of these purported postings or listings”.
Pi Coin Price Prediction Summary
For investors simply looking for a brief rundown of the potential price of Pi Coin, we’ve summarized each year below.
- End of 2024 – The mainnet release did go smoothly, which resulted in Pi peaking at above the $292 mark before retracing. Experts predict that the Pi coin will be worth $35 by the end of 2024.
- End of 2025 – Should the Pi network ecosystem continue to expand, the token could be worth around $50 by 2025.
- End of 2030 – Moving onward to the end of the decade, if the Pi network can keep on growing and get a lot of applications created on the network, the token could climb as high as $100.
History of the Price of Pi Coin
When it comes to examining the historical performance of Pi Coin, things can be a bit unclear. Since the network’s mainnet has not yet been launched, there is no previous price data to analyze. However, that doesn’t mean we’re completely in the dark. There’s still plenty of information we can gather from how the project has been operating over the past year.
Firstly, as Pi Coin operates a bit differently from traditional crypto assets like Bitcoin and Ethereum, it’s worth taking a second to understand how Pi Coin works. The idea of the Pi Network was to allow people to mine crypto directly from a smartphone. With Pi gaining over 30 million users at its peak, this concept was clearly a smash hit.
Is Pi Network Legit?
With millions of active users and significant community interest, Pi Network has been a hot topic for years. Questions like when Pi Network will debut, whether Pi coins are fake or real, and if Pi Network is worth anything are among the hottest million-dollar questions in the crypto space right now.
The assertion made by the project’s creators that these personal networks improve security on the Pi Network and encourage users to invite friends and family has fueled doubts that it might be a multi-level marketing (MLM) or pyramid scheme. However, it is worth noting that users can only earn coins in their own direct networks, not in the networks of their connections, as in the MLM scheme.
Does Pi Network Have a Future?
Pi Network’s intentions are still up for debate, as is whether it is a genuine project or a fraud. If it is a hoax, it isn’t a typical Ponzi scheme fraud because participants aren’t investing money; instead, they are investing time on their smartphones.
The organization has come under fire for allegedly abusing its community by using the 35 million people to sell ads to. On May 19, 2022, the platform posted an announcement on Twitter that included that number. Regarding the overall number of “pioneers,” there have been no updates since.
FAQ
Q. What is Pi coin’s highest price?
A. As of now, a definitive highest price for Pi coin cannot be established since it has not been officially listed on any exchange. The highest recorded “price” that has been recorded for the PI token is around $240, but it cannot be treated the same as a regular ATH would be
Q. What will Pi be worth in 2025?
A. With more time to grow, the Pi network ecosystem will likely have expanded in a big way as developers look toward efficient smart contract platforms. As such, our Pi coin price prediction places the asset at around $35 on the low end or $400 if it performs well.
Q. What will Pi Coin be worth in 2030?
A. While it’s hard to offer an accurate estimate so far into the future, as the global adoption of cryptocurrency picks up, we could see Pi Coin trade for between $40 and $500.
Q. Is Pi Coin a good investment?
A. Pi Coin has multiple upsides. However, its initial mining fundamentals have been put into question as of late as the world is now veering towards proof-of-stake. That said, the development of an Open Mainnet is ongoing, and will tell us more about whether it might be a worthy investment later. That said, the current market signals state the Pi will remain in the accumulation range for a long time – at least, until major news about it arrives.