How to Buy Pi Coin in India?

Want to know how to buy pi coin in india? Well you have landed on the right article

The PI Network is a digital currency project that aims to make cryptocurrency mining more accessible, since first-generation currencies like Bitcoin have grown more centralised, making them inaccessible to the general public.

According to the PI Network, which was established by a group of Stanford graduates, users may mine money using their phones while also validating transactions on a distributed ledger.

PI nodes utilise a Stellar Consensus Protocol-based approach, unlike nodes on networks like Bitcoin, which use a Proof-of-Work (PoW) technique (SCP). PI Nodes verify transactions and come to an agreement on how new transactions should be recorded on a distributed ledger.

For PI nodes, SCP needs security circles, which are groups of three to five trustworthy persons that are known to each network's users. Security circles provide a global trust network that protects against fraud by allowing transactions on the shared ledger to be validated only if all of the trustworthy nodes agree.

The first phase of the campaign kicked out on March 14, 2019, with a free PI mining app and branding inspired by the number. By June 2019, the network has surpassed 100,000 active users. There were more than 3.5 million users when Phase 2 started a year later.

Now let's dive into the article to learn how to buy pi coins!

What is Pi coin?

PiCoin, or PI, is the cryptocurrency that runs on the Pi network, and it was designed to be "halved" on a regular basis, like other cryptos like bitcoin, to maintain scarcity.

Halving occurs when a miner earns half as many bitcoins for processing new transactions. It usually occurs once you've reached a certain age.

The mining rate was dropped to 1.6 per hour when PI reached 100,000 users, then to 0.4 per hour when it reached 1 million, and finally to 0.2 per hour when it reached 10 million. It will continue to halve until one billion users are reached, at which time it will become zero.

Key features of Pi Network Coin

After it is fully released, the PiCoin will include a number of features. Here are several examples:

• PI is decentralised: It is easily configurable, error-free, and adaptable. It is completely decentralised and has no single owner.
  
  
• Exclusive Mobile Environment: PI's worldwide technology creates an ecosystem, potentially allowing non-GPU users to acquire an interest in mining. The ecosystem contains a wide range of technologies working together. There are many social communities for individuals and corporations.
  
  
• Mobile-Mining: A mining revolution has been bought by PI, which has made it possible for internet users to earn PI by mining with a smartphone.
  
  
• Referral system: To generate cash and attract additional users, the app employs advertisements and a referral system. Because the founders are already benefitting, this process doubts the project's aims.

How to Buy Pi Coin in India?

You won't be able to receive PiCoin for your portfolio if you inquire how to get it. Users that mined PiCoin will be able to withdraw or sell their cash only when the project's third phase is completed and it transitions to a decentralized network.

However, some of the cryptocurrency are very much harder to procure in comparison to others and one of them is Pi INU. As it is not easily available on app or wallet.

Thus, you have to find a proper way to learn how to buy pi network coin. Although in this aricle you will get some hint. PiCoins cannot be traded during the trial period, according to the project's website, to avoid phone accounts from accumulating cash.

When PI moves from the testnet to the mainnet and blockchain technology is created and applied, the wallet balance of PiCoin is supposed to be honoured.

PiCoin is no longer available for purchase on any cryptocurrency exchange or trading platform as a consequence of this. PiCoin's pricing has yet to be decided.

After Phase 3 is completed, coin holders will have complete control over their public and private wallet keys. They may then spend the money on PI's peer-to-peer marketplace to buy goods and services.

Users who do not have access to the keys to their cryptocurrencies cannot trade or spend it. The PI mining app is a bitcoin wallet connected to the user's contact information, such as their phone number or Facebook account.

External wallets will be able to store PI tokens and accept transactions directly to the PI blockchain, much like other public blockchains.

Unlike other blockchains, however, the source code has yet to be released by its creators. Early adopters are accumulating PI coins in anticipation of a price increase once Phase 3 is introduced.

Individuals may enhance their mining rate by contacting all other PI Coin miners or connecting with other active miners, despite the currency's mining rate being halved. New Pi Network members may only join if they are invited or given a referral code by an existing Pi Network member.

Personal networks, according to the project's developers, increase security on the Pi Network by pushing users to join friends and family, sparking fears that it may be a pyramid or multi-level marketing scheme.

Users may only earn coins from their own networks, not from the networks of their friends, unlike in an MLM scheme .In November, the organisation started providing tech and product updates to provide a snapshot of the work done behind the scenes over the previous month.

According to their October bulletin, the Core Team spent a significant amount of time putting out the most recent and up-to-date product features of the Pi Ecosystem.

Among these were its KYC App Pilot and Block Explorer. The KYC App Pilot was made available "on a limited scale" to begin the process of authenticating Pioneers in order to increase machine automation and app usability.

It was trialled with community explorers. The Pi Block Explorer may also be used to see transaction history and analyse data such as sender, recipient, and amount.

Pi Wallet has been updated as well. When Pioneers receive a payment on the blockchain, they will now get push alerts, and a problem that prevented Android users from accessing their wallet passwords has been resolved.

It is based on the decentralization ideas. Certain bitcoin gurus have previously forecast the Pi Network's worth. PiCoin cannot be acquired or traded on any exchange since there are no tokens in circulation. You can acquire PI via the app if you want to.

How to sell pi coin in India: However, the PI you obtained via the programme cannot be sold. You'll be able to transfer your PI to your wallet and sell it there if the blockchain is made public.

As previously stated, the option to sell your PI is presently completely speculative owing to the blockchain's lack of a set release date. It's now OK to call it a financial investment.

PiCoin plans to use a Proof-of-Work (PoW) technology to enable individuals to mine money using their smartphones. This is how Bitcoin works, except that in exchange for a percentage of the network's transaction fees, users give up a lot of processing power.

Because in-chain apps are used, the Pi blockchain is meant to be self-contained and function on its own. Similar to how Ethereum and Solana operate, developers may upload programmes to the blockchains to perform tasks.

Developers can create applications for the Ethereum and Solana blockchains, but the PiCoin blockchain is still in development. Only the PiCoin mobile app will be able to store it until late 2021.

This location might be a source of worry since it is not the safest place to store Bitcoin. Tokens may be removed or deleted at the discretion of the creators. If a PiCoin is released, a wallet is an excellent way to securely store crypto.

Without a doubt, hardware wallets are the safest alternative. Private keys are stored on a physical device in hardware wallets. The device must be present for crypto to operate since these keys are the only way to access crypto.

How does the Pi app function?

Pi coin price prediction for 2021–2025

The PI cryptocurrency value is expected to start low against the US dollar, similar to other digital currencies, and then rise as use grows. What are the opinions of various price forecasters?

According to cryptocurrency analytics site CoinMarketCap and algorithm-based forecasting site Wallet Investor, PiCoin is now worth $0.007077.In March of this year, Wallet Investor anticipated a Pi cryptocurrency price of $0.0132, a loss of $0.00743.

The website, however, claims that the prediction is no longer being updated. According to the initiative, PiCoin's initial mining rate was 1.6 per hour when it was launched, but after 100,000 individuals signed up, it decreased to 0.8 per hour.

When the app reached one million users, it was decreased to 0.4 per hour, and when it reached ten million users, it was dropped to 0.2 per hour. The Pi Network claimed to have over 18 million Pioneers enrolled on Twitter in May, encouraging users to "mine at a higher rate while they can."

When the mainnet launches (the date of which is unclear, but there are rumours of December 2021), the payment will be halved to 0.1 per hour; if PI ever achieves one billion users, the payout will be zero.

From late June through the end of September, PI hosted its first hackathon, #BuildPI2gether, which was characterised as "a collaborative event where Pioneers and developers engage to create the future of PI together."

The winning projects in the ecosystem and business app categories got $100,000 and 100,000 Pi, respectively. The coin's price might rise from an average of 0.0108 against the US dollar in 2021 to $0.0128 in 2022 and $0.0212 by 2025, according to DigitalCoin's Pi Network pricing estimate 2021–2025.

By 2028, the PiCoin price is predicted to average $0.0319, meaning that the PiCoin value would be higher in 2030.

The prognosis, however, is no longer updated on the website. We recommend that you undertake research and assess the most current market trends, news, technical and fundamental analysis, and expert opinion before making any investing decisions. Additionally, you should never spend more than you can afford to lose.

I hope you liked our article on how to buy pi coin in India, if you have any comments or suggestions do share them in the comments below. 

Frequently Asked Question

Q. How do we mine PiCoins?

Add at least five people from your contact list already on the network. This action will increase your mining rate by a factor of two. Invite other individuals to join the network to raise your mining rate.

You have a probability to mine an additional (0.6 to 1.2 coins per day) for each user who joins the network through your invitation. 

Q. How and when can I convert my PI into money?

Once the network publishes the mainnet wallet, the genuine PI currency will be available for transfer and PiCoins users can successfully pay using Pi coin. They can also send and receive PiCoin from other PI users.

PI's core developers indicated that the coin's present worth is zero and that its value would climb if people began using it to transact goods and services on a big scale.

Q. Is PI real?

PI is not a ruse. It is a real endeavour by a team of Stanford grads to increase the accessibility of cryptocurrencies to the general public. PI's core staff is led by two Stanford PhDs and one Stanford MBA.

All these legends from Stanford university have contributed to Stanford's blockchain ecosystem development. The cost of PI has yet to be determined. 

Q. Does PI have a future?

Forecasters like Changelly anticipate that the PI price will grow to $1 once it begins trading on cryptocurrency exchanges, based on the number of individuals who have signed up to mine the coin.

However, the currency has not yet been released. It is hard to forecast its future with any degree of certainty. 

Q. Is PI coin on the market?

PiCoin is not currently available for purchase or trading on any cryptocurrency exchange or trading platform. Users who mined the PiCoin will only withdraw or trade their coins once the project's third phase is completed and the project switches to a decentralised blockchain. 

Q. How many PI cryptos are there?              

ANS. There is no circulating supply and a maximum supply of 2,941,134 PiCoins. The number of PiCoins are increasing because more and more people are mining it. PiCoin (PI) is a type of cryptocurrency. Users can generate PI through the mining process. 

Q. How much is 1 PiCoin worth?

PiCoin is equivalent to 1.864688 Indian Rupee. You have just converted 1 PiCoin to 1.864688 Indian Rupee. We used the International Currency Exchange Rate of 0.536283. For our calculator, we've integrated the most popular Currencies and CryptoCurrencies.

PiCoin may be converted to other currencies using the drop-down menu. When you sell 1 PiCoin, you will receive 1.864688 Indian Rupees at 03:59 PM on January 1, 2022. (GMT).