How to Buy Pi Coin in India 2022 2023?

Cryptocurrency mining has become more accessible. We attribute this to networks like the Pi. The Pi network allows users to mine digital currency on their phones. Furthermore, they can confirm transactions on distributed ledgers while mining.

The topic of crypto can be challenging to many. It is because of the terminology that most bloggers use. So here is a simple guide for everyone who wants to know how to buy Pi Coin in India.

Pi Coin is abbreviated as PI in most instances. It is a cryptocurrency running on the Pi network. Its design is halving regularly like other cryptocurrencies like bitcoin. The primary intention is maintaining scarcity. Halving happens when miners earn half as many bitcoins for working on new transactions. It happens after reaching a particular age.

Pi Coin reached 100,000 buyers, and the mining rate lowered to 1.6 per hour. After that, it hit 1 million users, and the rate was 0.4 per hour. Likewise, at the 10 million mark, it became 0.2 per hour. Note that the halving will continue until this coin reaches 1 billion users. Then, it will turn zero. Thus, Pi network developers now aim to allow the general public to involve in crypto mining.

But today, it is reserved only for buddies with advanced cryptocurrency mining rigs. User can confirm their transactions via the Pi Coin app. It is the opposite of other decentralized digital cryptos like bitcoin.

Bitcoin runs on a model of proof-of-work (PoW). But Pi works on the stellar consensus protocol (SCP). The Pi crypto is new and has existed for over three years. But this coin is still a work in progress.

The developers haven't released its crucial features yet. Thus, you want to be very careful and knowledgeable before investing. The features below are general aspects.

We are yet to see the distinguishing features of this coin from the others. However, we are hopeful that the developers will release it during this phase.

There are several features of the Pi Coin network. See below what to expect:

A) Easy Access

The Pi network has many social communities for investment companies and individuals. Moreover, Pi Coin's renowned technology gives a conducive ecosystem. It can attract many new non-GPU users in mining. The ecosystem consists of new-age technologies that work together.

B) Start Mining Anywhere

Now, users can earn Pi Coins by mining on their mobile phones. So we can say that Pi has bought a mining revolution by allowing users to work from anywhere.

C) Earn Cash with Referral System

Like any other app, the Pi application also has a referral system. It helps existing users attract more new users and generate cash.

D) Decentralization of Pi

This network is easy to configure and error-free. It seems reliable due to the utmost decentralization. Note that there is no single owner for the network.

We have seen an increase in the popularity of the Pi Coin crypto. It is because of the affordability and easy access. But for now, it is yet to be on the list of any crypto exchange.

It makes it hard to forecast the value of Pi Coin today. However, users can mine the coins and store them on the application. Also, they can use these coins to buy products on the Pi marketplace.

One can calculate the pi cryptocurrency value in inr by studying all the current trends. But this will only be speculation. Pi Coin mining is an ideal consideration for investors with high-risk appetites.

They can invest in new forms of crypto. Early birds can earn higher returns in case the Pi network price in India rises in the future.

As you can see, the current price is also unknown. That's because Pi Coins aren't in trade at the moment on any crypto exchange. So it is hard to guess the coin's price. You can't sell or buy the Pi tokens. Thus, it becomes hard to guess its current or future prices. A user can only get the coins through mining on their mobile app.

There are many exchanges in India you can use to trade Pi Coin. We can divide the method of buying these coins into five major steps. First, you need to register the account after opening it.

Note that new users won't be able to get PiCoin until the project's third phase completes. Likewise, existing users who mined PiCoins in the past can sell their coins and withdraw cash after the third phase.

In this case, external wallets can help you store PI tokens. They can also allow transactions on the PI blockchain.

Step 1: Register on a Digital Cryptocurrency Wallet

Digital wallets hold all the cryptocurrencies of a user in one place. It uses blockchain technology for communication with other users on that network. There are so many digital wallet providers in India. So, choose the right wallet to store your Pi tokens or buy this coin in the future.

Step 2: Open Your Account

Go to the exchange's signup page, and enter your details to register. You can choose between a person or company account. Next, choose your location (country) and check the terms and conditions box.

Step 3: Complete the KYC Form

KYC is mandatory to open any financial account in India. No worries! It only encrypts, stores, and secures your data in Indian data centres. Your browser should redirect you to another URL to complete the KYC.

An image of the PAN card is a must. In addition, you will need the mobile number linked to the Aadhaar card.

Step 4: Authentication

It is a 2-factor authentication (2FA) step. It ensures the utmost security for cryptocurrencies.

First, you need to install the Authenticator application. It helps with securing the account with a 2FA. So anytime you log in to the account, the app will ask you to enter a six-digit one-time code.

Step 5: Add Bank Details

Enter all the necessary information on the bank details page. For example, you will need the bank name, the account holder's name, and the account number. Besides, enter the IFSC code and account type before adding the account.

The network is yet to launch its main wallet. After it does, the true Pi currency will be transferrable. Then, Pi network users can pay using the coin with ease.

They can receive and send the same coin to other users on the network. The developers state that this coin's present worth is zero. However, they expect the value to rise once people use this coin. Of course, it will need large-scale transactions of goods and services.

So many people have concerns about whether the Pi network is a scam. Of course, as humans, we are quick to conclude. But, while we are easy to be tricked, a few are hard to trust.

There have been transparency issues and a delay in launching the coin. It has made more crypto investors start doubting the network. But, for now, it is hard to conclude if the project is a scam or not. Most cryptocurrency users are hoping for its quick release. But others believe it will be the bomb hitting crypto for the better.

Unfortunately, there are no Pi coins in circulation for now. The developers aren't declaring the total number of coins. Also, there is no information on the maximum supply they intend to make available for circulation. We will know after the project launches.

User can store their coins on the app at the moment. The security of the coins will depend on that of your phone. It might be a concern since hacking smartphones is a common practice.

You can store the coins in hardware wallets after their release for trading. In addition, private keys secure the hardware wallets. So, there won't be any doubt regarding its safety.

1) Is It Worth to Mine Pi Coins?

Mining Pi Coins is yet to be released for trading. However, it is a project by Stanford graduates. So, we can say it has some credibility.

Like any business, they assure you of an opportunity of trading their digital assets. In addition, they promise their users a chance to earn pi cryptocurrency value in INR upon release.

In short, low-risk investors should hold their horses as Pi is still uncertain.

2) Can You Use Normal Money to Buy Pi Coins?

Yes, you can use regular money to buy Pi Coin. Fiat currencies like INR will also do. You can store this cash in your wallet and use it to buy coins.

Users can trade any cryptocurrencies without hidden costs. But only if your cryptocurrency exchange allows for it.

3) How Do We Mine Pi Coins?

First, users must add five or more people from their contacts to the network. Doing this increases your mining rate.

You can also raise your mining rate by inviting new users to the network. There are chances of mining an extra 0.6-1.2 coins daily for each user joining via your link.

4) Where Will Users Exchange Pi Coins?

Users will be able to exchange Pi with different cryptocurrencies on renowned platforms. Many exchanges will also offer this facility. You will be good to go if the exchange offers top-notch trading facilities.

Users need to choose the best platforms with user-friendly interfaces. They should maintain advanced charts, especially for professional traders.

The current Pi Coin price in India isn't certain. That's because the network developers are still in phase 2 of testing. However, we expect users to trade this coin after launching phase 3.

The Pi network has a performance statement already. From research and developers' statements, we can say that the coin will initially have a low value against the USD. But, it will rise gradually over time as the adaptation rate increases.

Data shows that the Pi will bring tangible change to the crypto world. The Pi Coin price in India in 2025 is undetermined as of now. But we can estimate this after the first few months of trading.

So till then, why not trade in the traditional market? If you are a regular trader, you must open an account with MiTrade. It is the best one-stop solution to trade in commodities, indices, forex, shares, etc.