There might be very few cryptocurrencies that received as much hype as Pi Coin did back in 2019. After its introduction, it started gaining the attention of millions of users from around the world.
I still remember my friends being excited to join a project that actually helps you mine coins just from your smartphone.
The currency gained a lot of popularity and was mined all over the world. Now, the big question still remains in many people’s heads. It’s that how to sell Pi coin after mainnet launch and get the cash in return.
Well, that’s what this article is going to be all about. Here, I am going to provide a complete step-by-step guide on how to sell Pi coin in an easy way.
Let’s start.
What is Pi Coin?
Pi coin is a cryptocurrency project that was started by some experts from Stanford back in 2019.
The main goal of this project was to help people mine cryptocurrencies on their mobile phones without having to invest in huge computer systems.
The coin soon started to get the attention of many people from around the world who wanted to get into the crypto world without having to invest money. The project also provided many airdrops so early users could earn coins just by participating in it.
Now, the coin has become very famous and is available as an open mainnet. However, not all the coins of this currency are tradeable.
Still, people are using a proper process in order to trade coins and make money from their hard work.
How to Sell Pi Coin Step By Step Guide?
Whether you want to know how to sell Pi coin in the US or in any other country, understand that the process is the same for every country.
This process consists of a few simple steps. These steps might sound difficult to some people, but as you move along, things will start to make sense.
1. Complete The KYC Verification
The first and foremost thing that you need to do is complete the KYC verification. Just like every other major crypto like Bitcoin, Pi is also a very secure project. It makes sure that the coins are being mined by actual users and not through robots.
So, anyone who wants to sell their coins has to complete their KYC (Know Your Customer) verification. It tells the authorities that you are a real and verified account and not a fraud.
How To Do It?
- Open the Pi Network application.
- Find the invitation for KYC verification.
- Provide the required identity information, such as your national ID card.
- Follow any additional information and wait to get the approval.
2. Migrate Coins To Mainnet:
Now that you have completed your KYC verification, you’re free to migrate the coins to the mainnet. The main purpose of migrating the coins is to take them out of the app’s closed system and have them on a proper network where they can interact with different external systems, such as exchange platforms.
How To Do It?
- After the KYC approval, open the “Mainnet Checklist” section on the app.
- Here, agree to the terms and conditions.
- Now, submit your Pi coins for migration.
- Once the migration process is completed, confirm it and finalize the migration.
3. Using A Secure Wallet:
Another important thing to do in the process of how to sell Pi coin is setting up a secure wallet account. You will keep your Pi coins in this account and then sell them easily.
There are different types of crypto wallets available that are compatible with storing mainnet coins. You can either use Pi’s official wallet or go for other platforms like Bitget or Trust Wallet.
How To Do It?
- Open the browser version of Pi and open the official Pi Wallet platform.
- Now, back up your wallet passphrase, which will be used to recover the account in case you lose the device.
- Link the wallet address to your Pi Network account if asked.
4. Create An Exchange Account & Deposit Coins:
This is an important step for people who want to know how to sell Pi coin on OKX or how to sell Pi coin on Binance. In order to trade these coins, you need to create an exchange account on the Internet.
There are many exchanges that allow the trading of this coin, and you can pick the one that fulfills your needs and requirements properly. Some of the main names in this regard include:
- OKX
- Binance
- Gate.io
- Bitget
How To Do It?
- First, open the official website of the exchange platform that you have picked.
- Once the account has been created, complete its KYC process in order to get verified.
- Make sure to enable 2FA to get extra security.
- Now, open the exchange account and go to the “Deposit” section.
- Select the Pi Coin and copy the deposit address.
- Now, go to your Pi Network app and use the copied deposit address to send the Pi coins to the exchange.
💡Important Note:
After transferring the coins to the wallet, you may notice that the coins are appearing as “pending”. It is due to the 14-day lock protocol of Pi coins. This protocol is designed to prevent mass dumping. So, if your coins aren’t showing right after the transfer, they will appear after 14 days.
5. Place A Sell Order
Now that you have finally stored Pi coins in exchange, it’s time to place a sell order. It can be done from the “Trading” section of the exchange. In this step, you will actually place a sell order in the crypto world in order to liquidate your coins.
How To Do It?
- Open the exchange platform.
- Go to the “Trading” section.
- Pick a correct trading currency pair (I’d recommend going with PI/USDT).
- Pick an order type from Market Order and Limit Order.
- Enter the amount of Pi that you want to sell.
- Once the order is executed, you’ll get your
- Confirm the process to place the order.
- Once the order is executed, the equivalent currency will be submitted to your account balance.
Key Considerations For Selling Pi Coins
🔷 Make sure to provide the right information for KYC in order to avoid delays or rejections.
🔷Before selling, take a look at the fees and charges applied by the exchange platforms.
🔷Make sure to use trusted wallets and exchanges so that there’s no risk of getting scammed.
🔷Usually, picking the currency trading pair of PI/USDT is beneficial and smooth as well.
🔷Always backup the passphrase so that you can easily recover your account in case you can’t access your device.
Final Verdict
Well, there you have it. People who are wondering how to sell Pi coin can use this simplified guide to liquidate their crypto easily. The process is very simple but requires some time to complete in case your coins aren’t on the mainnet.
Just keep in mind to follow the process in the right way in order to avoid any mishappenings. If you remember and follow the discussed consideration points, you’ll be able to sell your coins in a smooth way.
People Also Ask
Yes, you can sell your Pi coins, but you will need to follow a complete process. It involves completing KYC verification and getting the coins on the mainnet.
Converting Pi coins to cash isn’t difficult at all. It just requires following the actual process of selling Pi on an exchange platform.
No, the Pi coins aren’t listed on Binance. There were chances of it getting listed since the coin received a lot of community votes. Still, Binance hasn’t officially listed it in its database yet.
Yes. Pi coin holds a decent value in the crypto world. Its current market capitalization is around $4.3 billion, and the current price stands at $0.62.
