How to Sell Pi Coin? – The Beginner’s Guide

There is currently no way to trade Pi coins for Bitcoin or Ethereum on Binance or any other cryptocurrency exchange. You can still try to sell your Pi coins through other channels, such as peer-to-peer trading or by spending them at stores that accept the cryptocurrency.

The Pi Network is a widely-used cryptocurrency venture because its currencies may be mined on mobile devices for no cost. Due to the ambitious nature of the project, many people have mined Pi coins and are now trying to figure out where they may trade them.

In this post, we will detail the many means by which one can sell Pi coin in 2023, giving our recommendations as to which are the most reliable and which one should be avoided at all costs.

Where can I buy Pi Coin?

You may find buyers for your Pi coins both online and offline, and the peer-to-peer technique allows you to negotiate a price and method of payment beforehand. It’s important to remember that peer-to-peer (P2P) transactions are the foundation of the bitcoin market. In the early days of Bitcoin, when there were no dedicated cryptocurrency exchanges, BTC could be bought and sold directly between users using services like PayPal.

But P2P is just one way to sell Pi coins; in the following sections, we’ll look at a number of alternatives.

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Trading Pi Coins Between Users

There is presently no PI trading on crypto exchanges (save for PI IOUs, but we’ll get to those later) because the Pi Network’s mainnet is still locked and the comprehensive roadmap continues to experience delays. That implies there is very little price discovery, and no one knows how much a single PI coin is worth; it may be a penny, a dollar, or even a hundred dollars.

That’s why you see so many social media users saying they’ll buy PI from you, but at wildly varying prices. Of course, there are also people who prefer to make in-person purchases of PI. Let’s compare the two P2P approaches:

In our experience and based on the feedback of a large number of users, the vast majority of people that advertise buying Pi coins online are frauds. They are taking advantage of people who are prepared to send them coins in the prospect of being paid for PI, but they have no intention of actually paying for it themselves.

Even though meeting in person to sell Pi coin is much less convenient than setting up a transaction online, it makes it less convenient for scammers. Even though we haven’t participated in any in-person P2P Pi currency deals, we’d put our faith in them more than we would any internet exchange.

Swap Pi-Coin-Backed IOUs

Trading IOUs on supported exchanges is another way to obtain price exposure to Pi Network. IOUs can be thought of as a sort of a debt acknowledgment note. Once trade begins on Pi, you will be able to convert your IOUs into actual Pi coins.

Bear in mind that Pi Coin IOUs are not equivalent to actual Pi Coins. However, they can be a useful tool for estimating the future value of Pi Coin. Pi coin IOUs are trading for roughly $40 on Huobi and Bitmart at the time of writing, an increase of more than 60% over the past three months. The cost hike is due to the fact that a more comprehensive Pi roadmap isn’t due out until the fourth quarter of 2023. Note, however, that the release was expected in September but has been pushed back to mid-October, resulting in a 20% drop in the value of PI IOUs.

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Put your Pi Coins right into the hands of merchants

If you have a large amount of Pi coins but don’t like using other methods of selling, you can use them to buy stuff from merchants who accept them. Some stores will trade silver for PI, while others will take it in exchange for virtual goods used in video games. According to the Pi Core team’s X (formerly Twitter) account, there was even a case of a car being sold PI.

Watch for an exchange to start trading Pi Coin

Unfortunately, the best course of action for now is probably to wait till the official launch of the Pi Network open mainnet. Once the mainnet launches, it is expected that Pi Coin will be traded on cryptocurrency exchanges. When (if) this occurs, PI will be traded just like any other coin or token, eliminating the risk of being scammed or receiving a poor exchange rate.

Some members of the community believe that the corporation is gearing up for the public launch of the mainnet since the team has recently boosted its efforts to lure fresh developers to the network.

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Conclusion

If you’re trying to figure out where to sell your Pi coins before the open mainnet launch, take in aware that almost all of your choices come with significant dangers. Only amongst peers may PI be sold, thus you’ll have to have faith in the person buying your Pi coins to fulfill their half of the bargain. If they don’t, you’re out of luck and will be short some cash.

It’s important to note that the Pi community has been vocal about their frustration with the delays in the launch of the open mainnet over the past few months. Some users have even gone so far as to question the legitimacy of the Pi Network, claiming that the Pi team has no plans to release the full version of the network.

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Mobile App

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